Economy overview: Agriculture, dominated by banana cultivation, is the most important sector of this still underperforming economy. The service sector is also important, based mainly on the growing tourism industry. The government has tried to develop new industries without much success, and unemployment remains high. Dependence on one crop represents the greatest obstacle to the development of the islands; tropical storms destroyed much of the crops in 1994 and 1995. Tourism has the most significant development potential in the next decade. Recent economic growth has been driven by a vibrant construction sector and an improvement in the tourism sector. There are small manufacturing and offshore financial services sectors. See topb2bwebsites.com to know more about Saint Vincent and the Grenadines in 2004.
GDP: at purchasing power parity – $322 million (2000 est.).
Real GDP growth rate: 2% (2000 est.).
GDP per capita: at purchasing power parity – $2,800 (2000 est.).
The composition of GDP by sectors of the economy: agriculture: 10.6%; industry: 17.5%; services: 71.9% (1996 est.).
Proportion of the population below the poverty line: no data available.
Percentage distribution of household income or consumption: 10% of the poorest households account for: n/a; 10% of the wealthiest families account for: no data.
Inflation rate at consumer prices: 2% (1999 est.).
Labor force: 67,000 people (1984 est.).
Employment structure: agriculture 26%, industry 17%, services 57% (1980 est.).
Unemployment rate: 22% (1997 est.).
Budget: revenues: $85.7 million; expenses: $98.6 million, including capital investments – $25.7 million (1997 est.).
Spheres of economy: food production, cement, furniture, clothing, starch.
Growth in industrial production: -0.9% (1997 est.).
Electricity generation: 82 million kWh (1999).
Sources of electricity generation: fossil fuels: 73.17%; hydropower: 26.83%; nuclear fuel: 0%; 😮 others: 0% (1999).
Electricity consumption: 76.3 million kWh (1999)
Electricity export: 0 kWh (1999).
Electricity import: 0 kWh (1999).
Agricultural products: bananas, coconuts, sweet potatoes, spices; a small number of cattle, sheep, pigs, goats; fish.
Export: $53.7 million (2000 est.)
Export items: bananas 39%, taro, arrowroot starch, tennis rackets.
Export partners: CARICOM countries 49%, UK 16%, USA 10% (1995).
Imports: $185.6 million (2000 est.)
Imports: foodstuffs, machinery and equipment, chemicals and fertilizers, minerals and fuels.
Import partners: US 36%, CARICOM countries 28%, UK 13% (1995).
External debt: $99.3 million (1998). Economic aid recipient: $47.5 million (1995); note – EU $34.5 million (1998).
Economic aid donor:
Currency: East Caribbean dollar.
Currency code: XCD.
Exchange rate: XCD/USD – 2.7000 (fixed exchange rate since 1976).
Fiscal year: calendar year.
Telecommunications Telephone lines: 20,500 (1998).
Mobile cellular phones: no data available.
Telephone system: satisfactory; domestic: fully automated island telephone system; VHF/UHF radiotelephone communications between St. Vincent and the Grenadines; international: VHF/UHF radiotelephony with Barbados; a new microwave radiotelephone system with Grenada and Saint Lucia; access to the Intelsat ground station in Martinique via Saint Lucia.
Broadcast stations: AM – 1, FM – 3, shortwave -0 (1998).
Radio receivers: 77,000 (1997).
Television broadcast stations: 1 (and three repeaters) (1997).
TVs: 18,000 (1997).
Internet country code: vc
Internet service providers: 15 (2000).
Number of users: 2,000 (2000).
Transport Railways: 0 km.
Roads: total: 1,040 km; coated: 320 km; unpaved: 720 km (1996 est.).
Ports and harbors: Kingstown.
Merchant navy: in total: 800 vessels (of 1,000 tons displacement or more) with a total displacement of 6,705,336 gross register tons / 10,134,002 long tons of gross tonnage; different types of ships: barge – 1, dry cargo – 131, cargo ships – 395, chemical tankers – 29, combined bulk carriers – 12, combined ore and oil carriers – 1, container ships – 46, liquefied gas tankers – 7, livestock carriers – 3, multifunctional heavy cargo vessels – 4, passenger vessels – 2, oil tankers – 56, refrigerated vessels – 42, laden transport ferries – 49, coastal passenger vessels – 11, specialized tankers – 10, cargo ships for the transport of vehicles – 1; note: including foreign ships registered here for flag of convenience reasons: China 4, Ireland 1, France 1,
Airports: 6 (2000 est.).
Airports with paved runways: total: 5; from 914 to 1523 m:3; less than 914 m: 2 (2000 est.).
Airports with unpaved runways: total: 1; less than 914 m: 1 (2000 est.).
Branches of the Armed Forces: Royal St. Vincent and the Grenadines Constabulary (includes Special Service Unit), Coast Guard.
Total military manpower:
Eligible for military service:
Number of persons reaching draft age each year:
Military spending in dollar terms: not available.
Military spending as part of GDP: no data available.
International issues International disputes: no.
Illicit Drugs: Transit point for drugs moving from South America to the US and Europe.