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Montserrat


    • Overview:
      The economy is small and open with economic activity centered on tourism and construction. Tourism is the most important sector and accounts for roughly one-fifth of GDP. Agriculture accounts for about 4% of GDP and industry 10%. The economy is heavily dependent on imports, making it vulnerable to fluctuations in world prices. Exports consist mainly of electronic parts sold to the US.

    • National product:
      GDP - purchasing power parity - $55.6 million (1993 est.)

    • National product real growth rate:
      1% (1993 est.)

    • National product per capita:
      $4,380 (1993 est.)

    • Inflation rate (consumer prices):
      2.8% (1992)

    • Unemployment rate:
      NA

    • Budget:

        revenues:
        $12.1 million

        expenditures:
        $14.3 million, including capital expenditures of $3.2 million (1988 est.)

    • Exports:
      $2.8 million (f.o.b., 1992)

        commodities:
        electronic parts, plastic bags, apparel, hot peppers, live plants, cattle

        partners:
        NA

    • Imports:
      $80.6 million (f.o.b., 1992)

        commodities:
        machinery and transportation equipment, foodstuffs, manufactured goods, fuels, lubricants, and related materials

        partners:
        NA

    • External debt:
      $2.05 million (1987)

    • Industrial production:
      growth rate 8.1% (1986); accounts for 10% of GDP

    • Electricity:

        capacity:
        5,271 kW

        production:
        17 million kWh

        consumption per capita:
        1,106 kWh (1993)

    • Industries:
      tourism; light manufacturing - rum, textiles, electronic appliances

    • Agriculture:
      accounts for 4% of GDP; small-scale farming; food crops - tomatoes, onions, peppers; not self-sufficient in food, especially livestock products

    • Economic aid:

        recipient:
        Western (non-US) countries, ODA and OOF bilateral commitments (1970-89), $90 million

    • Currency:
      1 EC dollar (EC$) = 100 cents

    • Exchange rates:
      East Caribbean dollars (EC$) per US$1 - 2.70 (fixed rate since 1976)

    • Fiscal year:
      1 April - 31 March






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