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Antigua and Barbuda Economy 1996
The economy is primarily service oriented, with tourism the most important
determinant of economic performance. In 1993, tourism made a direct
contribution to GDP of about 17%, and also spurred growth in other sectors
such as construction and transport. While only accounting for roughly 5% of
GDP in 1993, agricultural production increased by 4%. Tourist arrivals
remained strong in 1994.
GDP - purchasing power parity - $400 million (1993 est.)
-
National product real growth rate:
-
National product per capita:
-
Inflation rate (consumer prices):
$161 million, including capital expenditures of $56 million (1992)
$54.7 million (f.o.b., 1992)
petroleum products 48%, manufactures 23%, food and live animals 4%,
machinery and transport equipment 17%
OECS 26%, Barbados 15%, Guyana 4%, Trinidad and Tobago 2%, US 0.3%
$260.9 million (f.o.b., 1992)
food and live animals, machinery and transport equipment, manufactures,
chemicals, oil
US 27%, UK 16%, Canada 4%, OECS 3%, other 50%
growth rate -4.9% (1993 est.); accounts for 6.5% of GDP
tourism, construction, light manufacturing (clothing, alcohol, household
appliances)
accounts for 5% of GDP; expanding output of cotton, fruits, vegetables, and
livestock; other crops - bananas, coconuts, cucumbers, mangoes, sugarcane;
not self-sufficient in food
a long-time but relatively minor transshipment point for narcotics bound for
the US and Europe and recent transshipment point for heroin from Europe to
the US; more significant as a drug money laundering center
US commitments (1985-88), $10 million; Western (non-US) countries, ODA and
OOF bilateral commitments (1970-89), $50 million
1 EC dollar (EC$) = 100 cents
East Caribbean dollars (EC$) per US$1 - 2.70 (fixed rate since 1976)
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