Saint Lucia

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Introduction - Saint Lucia:
Location - Saint Lucia:
People - Saint Lucia:
Government - Saint Lucia:
Economy - Saint Lucia:

Economy overview

Changes in the EU import preference regime and the increased competition from Latin American bananas have made economic diversification increasingly important in Saint Lucia. The island nation has been able to attract foreign business and investment, especially in its offshore banking and tourism industries. Tourism is the main source of foreign exchange, with more than 700,000 arrivals in 2005. The manufacturing sector is the most diverse in the Eastern Caribbean area, and the government is trying to revitalize the banana industry. Economic fundamentals remain solid, even though unemployment needs to be cut.

Gdp purchasing power parity

$1.179 billion (2006 est.)

Gdp official exchange rate

$825 million (2005)

Gdp real growth rate

5.1% (2005 est.)

Gdp per capita ppp

$4,800 (2005 est.)

Gdp composition by sector

agriculture: 5%
industry: 15%
services: 80% (2005 est.)

Labor force

43,800 (2001 est.)

Labor force by occupation

agriculture: 21.7%
industry: 24.7%
services: 53.6% (2002 est.)

Unemployment rate

20% (2003 est.)

Population below poverty line


Household income or consumption by percentage share

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

Inflation rate consumer prices

2.9% (2005 est.)


revenues: $141.2 million
expenditures: $146.7 million; including capital expenditures of $25.1 million (2000 est.)

Agriculture products

bananas, coconuts, vegetables, citrus, root crops, cocoa


clothing, assembly of electronic components, beverages, corrugated cardboard boxes, tourism; lime processing, coconut processing

Industrial production growth rate

-8.9% (1997 est.)

Electricity production

290 million kWh (2004)

Electricity consumption

269.7 million kWh (2004)

Electricity exports

0 kWh (2004)

Electricity imports

0 kWh (2004)

Oil production

0 bbl/day (2004 est.)

Oil consumption

2,800 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.)


$82 million (2004 est.)

Exports commodities

bananas 41%, clothing, cocoa, vegetables, fruits, coconut oil

Exports partners

France 69.1%, US 10.1%, UK 8.7% (2006)


$410 million (2004 est.)

Imports commodities

food 23%, manufactured goods 21%, machinery and transportation equipment 19%, chemicals, fuels

Imports partners

US 19.9%, Trinidad and Tobago 14.1%, Italy 11.6%, France 11.1%, UK 6.5%, Argentina 6.4%, Netherlands 5.5%, Venezuela 5.1% (2006)

Debt external

$257 million (2004)

Economic aid recipient

$21.5 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)

Communications - Saint Lucia:
Transportation - Saint Lucia:
Military - Saint Lucia:
This page was last updated on 16 September, 2007
Source: CIA >>>

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