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The Economy of Anguilla

Anguillan Economy

Anguilla's map

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 has spurred the growth of the construction sector, contributing 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:

GDP - real growth rate: 10.2% (2004 est.)

GDP - per capita:

GDP - composition by sector: agriculture: 4% industry: 18% services: 78% (2002 est.)

Population below poverty line:

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

Distribution of family income - Gini index:

Inflation rate (consumer prices):

Labor force: 6,049 (2001)

Labor force - by occupation: agriculture/fishing/forestry/mining 4%, manufacturing 3%, construction 18%, transportation and utilities 10%, commerce 36%, services 29% (2000 est.)

Unemployment rate: 8% (2002)

Budget: revenues: $22.8 million expenditures: $22.5 million (2000 est.)

Industries: tourism, boat building, offshore financial services

Industrial production growth rate:

Electricity - production: NA kWh

Electricity - production by source:

Electricity - consumption:

Electricity - exports:

Electricity - imports:

Oil - production:

Oil - consumption:

Oil - exports:

Oil - imports:

Oil - proved reserves:

Natural gas - production:

Natural gas - consumption:

Natural gas - exports:

Natural gas - imports:

Natural gas - proved reserves:

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

Exports: $13 million (2006)

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

Exports - partners:

Imports: $143 million (2006)

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

Imports - partners:

Debt - external: $8.8 million (1998)

Economic aid - recipient:

Currency:

Currency code:

Exchange rates: East Caribbean dollars (XCD) per US dollar - 2.7 (2007), 2.7 (2006), 2.7 (2005), 2.7 (2004), 2.7 (2003) note: fixed rate since 1976

Fiscal year: