Antigua and Barbuda

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Introduction - Antigua and Barbuda:
Location - Antigua and Barbuda:
People - Antigua and Barbuda:
Government - Antigua and Barbuda:
Economy - Antigua and Barbuda:

Economy overview

Tourism continues to dominate the economy, accounting for more than half of GDP. Weak tourist arrival numbers since early 2000 have slowed the economy and pressed the government into a tight fiscal corner. The dual-island nations agricultural production is focused on the domestic market and constrained by a limited water supply and a labor shortage stemming from the lure of higher wages in tourism and construction. Manufacturing comprises enclave-type assembly for export with major products being bedding, handicrafts, and electronic components. Prospects for economic growth in the medium term will continue to depend on income growth in the industrialized world, especially in the US, which accounts for slightly more than one-third of tourist arrivals.

Gdp purchasing power parity

$1.145 billion (2006 est.)

Gdp official exchange rate

$905 million (2005 est.)

Gdp real growth rate

3.8% (2005 est.)

Gdp per capita ppp

$10,900 (2005 est.)

Gdp composition by sector

agriculture: 3.8%
industry: 22%
services: 74.3% (2002 est.)

Labor force

30,000 (1991 est.)

Labor force by occupation

agriculture: 7%
industry: 11%
services: 82% (1983)

Unemployment rate

11% (2001 est.)

Population below poverty line

NA%

Household income or consumption by percentage share

lowest 10%: NA%
highest 10%: NA%

Inflation rate consumer prices

0.9% (2005 est.)

Budget

revenues: $123.7 million
expenditures: $145.9 million; including capital expenditures of $NA (2000 est.)

Agriculture products

cotton, fruits, vegetables, bananas, coconuts, cucumbers, mangoes, sugarcane; livestock

Industries

tourism, construction, light manufacturing (clothing, alcohol, household appliances)

Industrial production growth rate

NA%

Electricity production

105 million kWh (2004)

Electricity consumption

97.65 million kWh (2004)

Electricity exports

0 kWh (2004)

Electricity imports

0 kWh (2004)

Oil production

0 bbl/day (2004)

Oil consumption

3,800 bbl/day (2004 est.)

Oil exports

NA bbl/day

Oil imports

NA bbl/day

Oil proved reserves

0 bbl

Natural gas production

0 cu m (2004 est.)

Natural gas consumption

0 cu m (2004 est.)

Current account balance

-$83.4 million (2004)

Exports

$46.81 million (2004 est.)

Exports commodities

petroleum products 48%, manufactures 23%, machinery and transport equipment 17%, food and live animals 4%, other 8%

Exports partners

Spain 34%, Germany 20.7%, Italy 7.7%, Singapore 5.8%, UK 4.9% (2006)

Imports

$378 million (2004 est.)

Imports commodities

food and live animals, machinery and transport equipment, manufactures, chemicals, oil

Imports partners

US 21.1%, China 16.4%, Germany 13.3%, Singapore 12.7%, Spain 6.5% (2006)

Debt external

$427.3 million; note - data are for public external debt, not total external debt (2000)

Economic aid recipient

$1.65 million (2004)

Currency code

East Caribbean dollar (XCD)

Exchange rates

East Caribbean dollars per US dollar - 2.7 (2006), 2.7 (2005), 2.7 (2004), 2.7 (2003), 2.7 (2002)
note: fixed rate since 1976

Communications - Antigua and Barbuda:
Transportation - Antigua and Barbuda:
Military - Antigua and Barbuda:
This page was last updated on 16 September, 2007
Source: CIA >>>


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