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Virgin Islands Economy 2014
http://www.theodora.com/wfbcurrent/virgin_islands/virgin_islands_economy.html
SOURCE: 2014 CIA WORLD FACTBOOK AND OTHER SOURCES


















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Page last updated on January 28, 2014

Economy - overview:
Tourism, trade, and other services are the primary economic activities, accounting for roughly 57% of GDP and about half of total civilian employment in 2010. Goods-producing industries accounted for 23% of GDP in 2010 and government represented 20%. The islands hosted nearly 2.74 million visitors - 2.2 million cruise ship and 536,000 air passengers - in 2011. The manufacturing sector consists of rum distilling, electronics, pharmaceuticals, and watch assembly. The agriculture sector is small, with most food being imported. The islands are vulnerable to damage from storms. The government is working to improve fiscal discipline, to support construction projects in the private sector, to expand tourist facilities, to reduce crime, and to protect the environment.

GDP (purchasing power parity):
$1.577 billion (2004 est.)
country comparison to the world: 195
[see also: GDP country ranks ]

GDP (official exchange rate):
$NA

GDP - real growth rate:
2% (2002 est.)
country comparison to the world: 133

GDP - per capita (PPP):
$14,500 (2004 est.)
country comparison to the world: 92

GDP - composition, by sector of origin:
agriculture: 1%
industry: 19%
services: 80% (2003 est.)

Agriculture - products:
fruit, vegetables, sorghum; Senepol cattle

Industries:
tourism, watch assembly, rum distilling, construction, pharmaceuticals, electronics

Industrial production growth rate:
NA%

Labor force:
49,820 (2007 est.)
country comparison to the world: 192

Labor force - by occupation:
agriculture: 1%
industry: 19%
services: 80% (2003 est.)

Unemployment rate:
6.2% (2004)
country comparison to the world: 67

Population below poverty line:
28.9% (2002)

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

Budget:
revenues: $837 million
expenditures: $837 million (FY08/09)

Fiscal year:
1 October - 30 September

Inflation rate (consumer prices):
2.2% (2003)
country comparison to the world: 49

Exports:
$4.234 billion (2001)
country comparison to the world: 117

Exports - commodities:
refined petroleum products

Imports:
$4.609 billion (2001)
country comparison to the world: 132

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

Debt - external:
$NA

Exchange rates:
the US dollar is used


NOTE: The information regarding Virgin Islands on this page is re-published from the 2014 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Virgin Islands Economy 2014 information contained here. All suggestions for corrections of any errors about Virgin Islands Economy 2014 should be addressed to the CIA.



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This page was last modified 14-Feb-14
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