Economy - overview:
Success of the economy hinges upon seasonal variations in agriculture, tourism, and construction activity as well as remittance inflows. Much of the workforce is employed in banana production and tourism, but persistent high unemployment has prompted many to leave the islands. This lower-middle-income country is vulnerable to natural disasters - tropical storms wiped out substantial portions of crops in 1994, 1995, and 2002. In 2008, the islands had more than 200,000 tourist arrivals, mostly to the Grenadines, a drop of nearly 20% from 2007. Saint Vincent is home to a small offshore banking sector and has moved to adopt international regulatory standards. The government's ability to invest in social programs and respond to external shocks is constrained by its high public debt burden, which was 68% of GDP at the end of 2011. GDP grew on average 6% annually from 2002-07, but contracted between 2008-10 as a result of the global economic downturn; growth remains slow.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Agriculture - products: Industries: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Debt - external: Exchange rates: Fiscal year:
NOTE: 1) The information regarding Saint Vincent and the Grenadines on this page is re-published from the 2013 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Saint Vincent and the Grenadines Economy 2013 information contained here. All suggestions for corrections of any errors about Saint Vincent and the Grenadines Economy 2013 should be addressed to the CIA.
$1.301 billion (2012 est.)
country comparison to the world: 200
note:
data are in 2012 US dollars
[see also: GDP country ranks ]
$717 million (2012 est.)
[see also: GDP (official exchange rate) country ranks ]
1.2% (2012 est.)
country comparison to the world: 156
[see also: GDP - real growth rate country ranks ]
$11,900 (2012 est.)
country comparison to the world: 104
note:
data are in 2012 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 6.4%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
19.9%
services:
73.6% (2012 est.)
57,520 (2007 est.)
country comparison to the world: 188
[see also: Labor force country ranks ]
agriculture: 26%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
17%
services:
57% (1980 est.)
15% (2001 est.)
country comparison to the world: 144
[see also: Unemployment rate country ranks ]
NA%
[see also: Population below poverty line country ranks ]
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
NA%
revenues: $185.2 million
[see also: Budget revenues country ranks ]
expenditures:
$185.2 million (2012 est.)
25.8% of GDP (2012 est.)
country comparison to the world: 120
[see also: Taxes and other revenues country ranks ]
0% of GDP (2012 est.)
country comparison to the world: 42
[see also: Budget surplus (+) or deficit (-) country ranks ]
68% of GDP (2011 est.)
country comparison to the world: 40
[see also: Public debt country ranks ]
5.1% (2012 est.)
country comparison to the world: 140
[see also: Inflation rate (consumer prices) country ranks ]
6.5% (31 December 2010 est.)
country comparison to the world: 47
[see also: Central bank discount rate country ranks ]
9.3% (31 December 2012 est.)
country comparison to the world: 99
[see also: Commercial bank prime lending rate country ranks ]
$135 million (31 December 2012 est.)
country comparison to the world: 180
[see also: Stock of narrow money country ranks ]
$431.9 million (31 December 2012 est.)
country comparison to the world: 179
[see also: Stock of broad money country ranks ]
$408.8 million (31 December 2012 est.)
country comparison to the world: 176
[see also: Stock of domestic credit country ranks ]
bananas, coconuts, sweet potatoes, spices; small numbers of cattle, sheep, pigs, goats; fish
tourism; food processing, cement, furniture, clothing, starch
-$226.2 million (2012 est.)
country comparison to the world: 81
[see also: Current account balance country ranks ]
$68.3 million (2012 est.)
country comparison to the world: 195
[see also: Exports country ranks ]
bananas, eddoes and dasheen (taro), arrowroot starch; tennis racquets
Trinidad and Tobago 12%, Austria 12%, St. Lucia 10.7%, France 9.5%, Turkey 8.9%, Barbados 8.9%, Dominica 7%, Grenada 6.7%, Antigua and Barbuda 6.1% (2011)
$366.5 million (2012 est.)
country comparison to the world: 192
[see also: Imports country ranks ]
foodstuffs, machinery and equipment, chemicals and fertilizers, minerals and fuels
Singapore 24.9%, Trinidad and Tobago 17.6%, US 12.6%, China 12.3%, Norway 7.5% (2011)
$252.2 million (31 December 2012 est.)
country comparison to the world: 182
[see also: Debt - external country ranks ]
East Caribbean dollars (XCD) per US dollar -
calendar year
2) The rank that you see is the CIA reported rank, which may habe the following issues:
a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order
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This page was last modified 11-Mar-13