Economy - overview:
Tourism continues to dominate Antigua and Barbuda's economy, accounting for nearly 60% of GDP and 40% of investment. The dual-island nation's agricultural production is focused on the domestic market and constrained by a limited water supply and a labor shortage stemming from the lure of higher wages in tourism and construction. Manufacturing comprises enclave-type assembly for export with major products being bedding, handicrafts, and electronic components.Like other countries in the region, Antigua's economy was severely hit by effects of the global economic recession in 2009. The country suffered from the collapse of its largest private sector employer, a steep decline in tourism, a rise in debt, and a sharp economic contraction between 2009 and 2011. Antigua has not yet returned to its pre-crisis growth levels.Prospects for economic growth in the medium term will continue to depend on tourist arrivals from the US, Canada, and Europe and could be disrupted by potential damage from natural disasters. The new government, elected in 2014 and led by Prime Minister Gaston Browne, continues to face significant fiscal challenges. The government places some hope in a new Citizenship by Investment Program to both reduce public debt levels and spur growth.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): Gross national saving: GDP - composition, by end use: GDP - composition, by sector of origin: Agriculture - products: Industries: Industrial production growth rate: 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: Fiscal year: 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: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Debt - external: Exchange rates:
$2.39 billion (2017 est.)
$2.328 billion (2016 est.)
$2.209 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 193
$1.535 billion (2016 est.)
[see also: GDP (official exchange rate) country ranks ]
2.7% (2017 est.)
5.3% (2016 est.)
4.1% (2015 est.)
country comparison to the world: 127
[see also: GDP - real growth rate country ranks ]
$26,300 (2017 est.)
$25,900 (2016 est.)
$24,800 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 76
26% of GDP (2017 est.)
24.5% of GDP (2016 est.)
30.7% of GDP (2015 est.)
country comparison to the world: 46
[see also: Gross national saving country ranks ]
household consumption: 68%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 16%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 21.7%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0.1%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 34%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -39.7% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]
agriculture: 2.3%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 20.2%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 77.5% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]
cotton, fruits, vegetables, bananas, coconuts, cucumbers, mangoes, sugarcane; livestock
tourism, construction, light manufacturing (clothing, alcohol, household appliances)
3% (2017 est.)
country comparison to the world: 96
[see also: Industrial production growth rate country ranks ]
30,000 (1991)
country comparison to the world: 205
[see also: Labor force country ranks ]
agriculture: 7%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 11%
[see also: Labor force - by occupation - industry country ranks ]
services: 82% (1983)
[see also: Labor force - by occupation - services country ranks ]
11% (2014 est.)
country comparison to the world: 141
[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: $295.9 million
[see also: Budget - revenues country ranks ]
expenditures: $322.9 million (2017 est.)
[see also: Budget - expenditures country ranks ]
19.3% of GDP (2017 est.)
country comparison to the world: 158
[see also: Taxes and other revenues country ranks ]
-1.8% of GDP (2017 est.)
country comparison to the world: 78
[see also: Budget surplus (+) or deficit (-) country ranks ]
92.7% of GDP (2016 est.)
99.1% of GDP (2015 est.)
country comparison to the world: 22
[see also: Public debt country ranks ]
1 April - 31 March
2.4% (2017 est.)
-0.5% (2016 est.)
country comparison to the world: 111
[see also: Inflation rate (consumer prices) country ranks ]
6.5% (31 December 2010)
6.5% (31 December 2009)
country comparison to the world: 60
[see also: Central bank discount rate country ranks ]
9.6% (31 December 2017 est.)
9.61% (31 December 2016 est.)
country comparison to the world: 86
[see also: Commercial bank prime lending rate country ranks ]
$307.7 million (31 December 2017 est.)
$293 million (31 December 2016 est.)
country comparison to the world: 178
[see also: Stock of narrow money country ranks ]
$1.229 billion (31 December 2017 est.)
$1.194 billion (31 December 2016 est.)
country comparison to the world: 169
[see also: Stock of broad money country ranks ]
$925.9 million (31 December 2017 est.)
$913 million (31 December 2016 est.)
country comparison to the world: 169
[see also: Stock of domestic credit country ranks ]
$22 million (2017 est.)
$2 million (2016 est.)
country comparison to the world: 57
[see also: Current account balance country ranks ]
$61.3 million (2017 est.)
$56.5 million (2016 est.)
country comparison to the world: 200
[see also: Exports country ranks ]
petroleum products, bedding, handicrafts, electronic components, transport equipment, food and live animals
Poland 53.2%, UK 12.7%, Cameroon 7.2%, Germany 5.5%, US 4.5% (2016)
$420.7 million (2017 est.)
$407.3 million (2016 est.)
country comparison to the world: 192
[see also: Imports country ranks ]
food and live animals, machinery and transport equipment, manufactures, chemicals, oil
US 44.3%, Japan 4.7%, China 4.1% (2016)
$441.2 million (31 December 2012)
$458 million (June 2010)
country comparison to the world: 182
[see also: Debt - external country ranks ]
East Caribbean dollars (XCD) per US dollar -
2.7 (2017 est.)
2.7 (2016 est.)
2.7 (2015 est.)
2.7 (2014 est.)
2.7 (2013 est.)