Economy - overview Anguilla has few natural resources, and the economy depends heavily on luxury tourism, offshore banking, lobster fishing, and remittances from emigrants. Increased activity in the tourism industry, which has spurred the growth of the construction sector, has contributed to economic growth. Anguillan officials have put substantial effort into developing the offshore financial sector, which is small, but growing. In the medium term, prospects for the economy will depend largely on the tourism sector and, therefore, on revived income growth in the industrialized nations as well as on favorable weather conditions.

GDP purchasing power parity - $104 million (2001 est.)

GDP - real growth rate 0% (2001 est.)

GDP - per capita purchasing power parity - $8,600 (2001 est.)

GDP - composition by sector
agriculture: 4%
industry: 18%
services: 78% (1997 est.)

Population below poverty line NA%

Household income or consumption by percentage share
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices) 2.3% (2001 est.)

Labor force 6,735 (1999)

Labor force - by occupation commerce 36%, services 29%, construction 18%, transportation and utilities 10%, manufacturing 3%, agriculture/fishing/forestry/mining 4%

Unemployment rate 8% (1999)

Budget
revenues: $20.4 million
expenditures: $23.3 million, including capital expenditures of $3.8 million (1997 est.)

Industries tourism, boat building, offshore financial services

Industrial production growth rate 3.1% (1997 est.)

Electricity - production 45.85 million kWh (2000)

Electricity - production by source
fossil fuel: NA%
hydro: NA%
other: NA%
nuclear: NA%

Electricity - consumption 42.6 million kWh

Agriculture - products small quantities of tobacco, vegetables; cattle raising

Exports $2.6 million (1999)

Exports - commodities lobster, fish, livestock, salt, concrete blocks, rum

Exports - partners UK, US, Puerto Rico

Imports $80.9 million (1999)

Imports - commodities fuels, foodstuffs, manufactures, chemicals, textiles

Imports - partners US, Puerto Rico, UK

Debt - external $8.8 million (1998)

Economic aid - recipient $3.5 million (1995)

Currency East Caribbean dollar (XCD)

Currency code XCD

Exchange rates East Caribbean dollars per US dollar - 2.7000 (fixed rate since 1976)

Fiscal year 1 April - 31 March

NOTE: The information regarding Anguilla on this page is re-published from the 2002 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Anguilla Economy 2002 information contained here. All suggestions for corrections of any errors about Anguilla Economy 2002 should be addressed to the CIA.