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    St. Lucia Economy - 1990

      Overview: Since 1983 the economy has shown an impressive average annual growth rate of almost 5% because of strong agricultural and tourist industry sectors. There is also an expanding industrial base supported by foreign investment in manufacturing and other activities, such as in data processing. The economy, however, remains vulnerable because the important agricultural sector is dominated by banana production. St. Lucia is subject to periodic droughts and/or tropical storms, and its protected market agreement with the UK for bananas may end in 1992.

      GDP: $172 million, per capita $1,258; real growth rate 6.8% (1988 est.)

      Inflation rate (consumer prices): 7.0% (1987)

      Unemployment rate: 18.6% (1986)

      Budget: revenues $71.7 million; expenditures $79.3 million, including capital expenditures of $19.6 million (1987)

      Exports: $76.8 million (f.o.b., 1987); commodities--bananas 67%, cocoa, vegetables, fruits, coconut oil, clothing; partners--UK 55%, CARICOM 21%, US 18%, other 6%

      Imports: $178.1 million (c.i.f., 1987); commodities--manufactured goods 22%, machinery and transportation equipment 21%, food and live animals 20%, mineral fuels, foodstuffs, machinery and equipment, fertilizers, petroleum products; partners--US 33%, UK 16%, CARICOM 14.8%, Japan 6.5%, other 29.7%

      External debt: $39.5 million (December 1987)

      Industrial production: growth rate 2.4% (1987)

      Electricity: 20,000 kW capacity; 80 million kWh produced, 530 kWh per capita (1989)

      Industries: clothing, assembly of electronic components, beverages, corrugated boxes, tourism, lime processing, coconut processing

      Agriculture: accounts for 15% of GDP and 43% of labor force; crops--bananas, coconuts, vegetables, citrus fruit, root crops, cocoa; imports food for the tourist industry

      Aid: US commitments, including Ex-Im (FY70-87), $4 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-87), $93 million

      Currency: East Caribbean dollar (plural--dollars); 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

      NOTE: The information regarding St. Lucia on this page is re-published from the 1990 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of St. Lucia Economy 1990 information contained here. All suggestions for corrections of any errors about St. Lucia Economy 1990 should be addressed to the CIA.

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    Revised 07-Feb-03
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