Economy - overview Tourism continues to be by far the dominant activity in the economybut the combined share in GDP of transport and communications, trade, andpublic utilities has increased markedly in recent years. Tourism's directcontribution to output in 1994 was about 20%. In addition, increased touristarrivals helped spur growth in the construction and transport sectors. Thedual island nation's agricultural production is mainly directed to the domesticmarket; the sector is constrained by the limited water supply and labor shortagesthat reflect the pull of higher wages in tourism and construction. Manufacturingcomprises enclave-type assembly for export with major products being bedding,handicrafts, and electronic components. Prospects for economic growth in themedium term will continue to depend on income growth in the industrializedworld, especially in the US, which accounts for about half of all touristarrivals.

GDP purchasing power parity - $446 million (1996 est.)

GDP - real growth rate 4.7% (1996 est.)

GDP - per capita purchasing power parity - $6,800 (1996 est.)

GDP - composition by sector
agriculture : 3.5%
industry: 19.3%
services: 77.2% (1994 est.)

Inflation rate - consumer price index 4% (1996 est.)

Labor force
total: 30,000
by occupation : commerce and services 82%, agriculture 11%, industry 7% (1983)

Unemployment rate 5%-10%(1995 est.)

Budget
revenues : $134 million
expenditures: $135.4 million, including capital expenditures of $NA (1995)

Industries tourism, construction, light manufacturing (clothing, alcohol, householdappliances)

Industrial production growth rate NA

Electricity - capacity 54,000 kW (1995)

Electricity - production NA kWh

Electricity - consumption per capita NA kWh

Agriculture - products cotton, fruits, vegetables, bananas, coconuts, cucumbers, mangoes, sugarcane;livestock

Exports
total value: $45 million (f.o.b., 1996 est.)
commodities: petroleum products 48%, manufactures 23%, food and live animals 4%,machinery and transport equipment 17%
partners: OECS 26%, Barbados 15%, Guyana 4%, Trinidad and Tobago 2%, US 0.3%

Imports
total value: $350.8 million (f.o.b., 1996 est.)
commodities: food and live animals, machinery and transport equipment, manufactures,chemicals, oil
partners: US 27%, UK 16%, Canada 4%, OECS 3%, other 50%

Debt - external $435 million (1996 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 Antigua and Barbuda 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 Antigua and Barbuda Economy 1997 information contained here. All suggestions for corrections of any errors about Antigua and Barbuda Economy 1997 should be addressed to the CIA.