Economy - overview Tourism is the primary economic activity, accounting for more than 70% of GDP and 70% of employment. The islands normally host 2 million visitors a year. The manufacturing sector consists of petroleum refining, textiles, electronics, pharmaceuticals, and watch assembly. The agricultural sector is small, with most food being imported. International business and financial services are a small but growing component of the economy. One of the world's largest petroleum refineries is at Saint Croix. The islands are subject to substantial damage from storms. The government is working to improve fiscal discipline, support construction projects in the private sector, expand tourist facilities, reduce crime, and protect the environment.

GDP purchasing power parity - $1.8 billion (2000 est.)

GDP - real growth rate NA%

GDP - per capita purchasing power parity - $15,000 (2000 est.)

GDP - composition by sector
agriculture: NA%
industry: NA%
services: NA%

Population below poverty line NA%

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

Inflation rate (consumer prices) NA%

Labor force 48,356 (2002 est.)

Labor force - by occupation agriculture 1%, industry 20%, services 79% (1990 est.)

Unemployment rate 4.9% (March 1999)

Budget
revenues: $364.4 million
expenditures: $364.4 million, including capital expenditures of $NA (1990 est.)

Industries tourism, petroleum refining, watch assembly, rum distilling, construction, pharmaceuticals, textiles, electronics

Industrial production growth rate NA%

Electricity - production 1.02 billion kWh (1999)

Electricity - production by source
fossil fuel: 100%
hydro: 0%
other: 0% (1999)
nuclear: 0%

Electricity - consumption 948.6 million kWh (1999)

Electricity - exports 0 kWh (1999)

Electricity - imports 0 kWh (1999)

Agriculture - products fruit, vegetables, sorghum; Senepol cattle

Exports $NA

Exports - commodities refined petroleum products

Exports - partners US, Puerto Rico

Imports $NA

Imports - commodities crude oil, foodstuffs, consumer goods, building materials

Imports - partners US, Puerto Rico

Debt - external $NA

Economic aid - recipient $NA

Currency US dollar (USD)

Currency code USD

Exchange rates the US dollar is used

Fiscal year 1 October - 30 September

NOTE: The information regarding Virgin Islands 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 Virgin Islands Economy 2002 information contained here. All suggestions for corrections of any errors about Virgin Islands Economy 2002 should be addressed to the CIA.