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Saint Vincent and the Grenadines Economy 2018

SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES











Saint Vincent and the Grenadines Economy 2018
SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 28, 2018

Economy - overview:
Success of the economy hinges upon seasonal variations in agriculture, tourism, and construction activity, as well as remittances. Much of the workforce is employed in banana production and tourism. Saint Vincent and the Grenadines is home to a small offshore banking sector and continues to fully adopt international regulatory standards.This lower-middle-income country remains vulnerable to natural and external shocks. The economy has shown some signs of recovery due to increased tourist arrivals, falling oil prices and renewed growth in the construction sector. The much anticipated international airport opened in early 2017 with hopes for increased airlift and tourism activity. The government's ability to invest in social programs and respond to external shocks is constrained by its high public debt burden, which was 67% of GDP at the end of 2013.

GDP (purchasing power parity):
$1.281 billion (2017 est.) $1.253 billion (2016 est.) $1.243 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 203

GDP (official exchange rate):
$815 million (2016 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
2.2% (2017 est.) 0.8% (2016 est.) 0.9% (2015 est.)
country comparison to the world: 146
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$11,600 (2017 est.) $11,400 (2016 est.) $11,300 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 133

Gross national saving:
-4.8% of GDP (2017 est.) -5.1% of GDP (2016 est.) -3.1% of GDP (2015 est.)
country comparison to the world: 180
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 87.4%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 19.2%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 20.3%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: -0.2%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 22.3%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -49.2% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 7.1%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 17.4%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 75.5% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
bananas, coconuts, sweet potatoes, spices; small numbers of cattle, sheep, pigs, goats; fish

Industries:
tourism; food processing, cement, furniture, clothing, starch

Industrial production growth rate:
2% (2017 est.)
country comparison to the world: 134
[see also: Industrial production growth rate country ranks ]

Labor force:
57,520 (2007 est.)
country comparison to the world: 189
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 26%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 17%
[see also: Labor force - by occupation - industry country ranks ]
services: 57% (1980 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
18.8% (2008 est.)
country comparison to the world: 180
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA%
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%

Budget:
revenues: $222.2 million
[see also: Budget - revenues country ranks ]
expenditures: $259.3 million (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
27.3% of GDP (2017 est.)
country comparison to the world: 103
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-4.5% of GDP (2017 est.)
country comparison to the world: 150
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
79.2% of GDP (2016 est.) 81.3% of GDP (2015 est.)
country comparison to the world: 40
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
1.7% (2017 est.) -0.2% (2016 est.)
country comparison to the world: 74
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
6.5% (31 December 2010) 6.5% (31 December 2009)
country comparison to the world: 59
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
9% (31 December 2017 est.) 9.17% (31 December 2016 est.)
country comparison to the world: 95
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$182.7 million (31 December 2017 est.) $177.7 million (31 December 2016 est.)
country comparison to the world: 186
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$591.5 million (31 December 2017 est.) $563.2 million (31 December 2016 est.)
country comparison to the world: 182
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$432.8 million (31 December 2017 est.) $424.6 million (31 December 2016 est.)
country comparison to the world: 178
[see also: Stock of domestic credit country ranks ]

Current account balance:
-$120 million (2017 est.) -$122 million (2016 est.)
country comparison to the world: 83
[see also: Current account balance country ranks ]

Exports:
$51.3 million (2017 est.) $47.3 million (2016 est.)
country comparison to the world: 203
[see also: Exports country ranks ]

Exports - commodities:
bananas, eddoes and dasheen (taro), arrowroot starch; tennis racquets

Exports - partners:
Barbados 18.3%, St. Lucia 17.6%, Antigua and Barbuda 14.8%, Trinidad and Tobago 12.3%, Dominica 9.5%, St. Kitts and Nevis 7.3%, Grenada 5.9% (2016)

Imports:
$311.3 million (2017 est.) $289.9 million (2016 est.)
country comparison to the world: 197
[see also: Imports country ranks ]

Imports - commodities:
foodstuffs, machinery and equipment, chemicals and fertilizers, minerals and fuels

Imports - partners:
US 44%, Trinidad and Tobago 14.1%, UK 6.5%, France 4.8% (2016)

Reserves of foreign exchange and gold:
$160 million (31 December 2017 est.) $192.3 million (31 December 2016 est.)
country comparison to the world: 160
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$324.4 million (31 December 2017 est.) $330.8 million (31 December 2016 est.)
country comparison to the world: 185
[see also: Debt - external country ranks ]

Exchange rates:
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.)


NOTE: 1) The information regarding Saint Vincent and the Grenadines on this page is re-published from the 2018 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Saint Vincent and the Grenadines Economy 2018 information contained here. All suggestions for corrections of any errors about Saint Vincent and the Grenadines Economy 2018 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) The 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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