Economy - overview Anguilla has few natural resources, and the economy depends heavilyon high-class tourism, offshore banking, lobster fishing, and remittancesfrom emigrants. Output growth had averaged about 7% in recent years, mainlyas a result of a boom in tourism thanks to economic expansion in North Americaand the UK. The economy, and especially the tourism sector, suffered a setbackin late 1995 due to the effects of Hurricane Luis in September. Agriculturaloutput had only just begun to recover from a drought in 1994 when Luis hit.Anguillan officials have put substantial effort into developing the offshorefinancing sector. A comprehensive package of financial services legislationwas enacted in late 1994. In the medium term, prospects for the economy willdepend on the tourism sector and, therefore, on continuing income growth inthe industrialized nations.

GDP purchasing power parity - $52 million (1995 est.)

GDP - real growth rate -4.3% (1995 est.)

GDP - per capita purchasing power parity - $7,400 (1995 est.)

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

Inflation rate - consumer price index 1.6% (1995 est.)

Labor force
total: 4,400 (1992)
by occupation: commerce 36%, services 29%, construction 18%, transportation and utilities10%, manufacturing 3%, agriculture/fishing/forestry/mining 4%

Unemployment rate 7% (1992 est.)

Budget
revenues: $13.5 million (1993)
expenditures: $17.6 million, including capital expenditures of $740,000 (1995 est.)

Industries tourism, boat building, offshore financial services

Industrial production growth rate NA%

Electricity - capacity NA kW

Electricity - production NA kWh

Electricity - consumption per capita NA kWh

Agriculture - products pigeon peas, corn, sweet potatoes; sheep, goats, pigs, cattle, poultry;fishing (including lobster)

Exports
total value : $1.3 million (f.o.b., 1995)
commodities: lobster and salt
partners : NA

Imports
total value: $39.8 million (f.o.b., 1995)
commodities: NA
partners: NA

Debt - external $8.5 million (1995 est.)

Economic aid $NA

Currency 1 EC dollar (EC$) = 100 cents

Exchange rates East Caribbean dollars (EC$) per US$1 - 2.70 (February 1997; fixed ratesince 1976)

Fiscal year 1 April - 31 March

NOTE: The information regarding Anguilla on this page is re-published from the 1997 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Anguilla Economy 1997 information contained here. All suggestions for corrections of any errors about Anguilla Economy 1997 should be addressed to the CIA.