Economy - overview Anguilla has few natural resources, and the economy depends heavily on high-class tourism, offshore banking, lobster fishing, and remittances from emigrants. The economy, and especially the tourism sector, suffered a setback in late 1995 due to the effects of Hurricane Luis in September but recovered in 1996. Anguillan officials have put substantial effort into developing the offshore financing sector. A comprehensive package of financial services legislation was enacted in late 1994. In the medium term, prospects for the economy will depend on the tourism sector and, therefore, on continuing income growth in the industrialized nations.

GDP purchasing power parity - $75 million (1996 est.)

GDP - real growth rate 3.4% (1996 est.)

GDP - per capita purchasing power parity - $7,200 (1996 est.)

GDP - composition by sector
agriculture: NA%
industry: NA%
services: NA%

Inflation rate - consumer price index 3.6% (1996 est.)

Labor force
total: 4,400 (1992)
by occupation: commerce 36%, services 29%, construction 18%, transportation and utilities 10%, manufacturing 3%, agriculture/fishing/forestry/mining 4%

Unemployment rate 7% (1992 est.)

Budget
revenues: $13.5 million (1993)
expenditures: $17.6 million, including capital expenditures of $740,000 (1995 est.)

Industries tourism, boat building, offshore financial services

Industrial production growth rate NA%

Electricity - capacity NA kW

Electricity - production NA kWh

Electricity - consumption per capita NA kWh

Agriculture - products pigeon peas, corn, sweet potatoes; sheep, goats, pigs, cattle, poultry; fishing (including lobster)

Exports
total value: $1.8 million (f.o.b., 1996)
commodities: lobster, fish, livestock, salt
partners: NA

Imports
total value: $52.7 million (f.o.b., 1996)
commodities: NA
partners: NA

Debt - external $8.5 million (1996 est.)

Economic aid $NA

Currency 1 EC dollar (EC$) = 100 cents

Exchange rates East Caribbean dollars (EC$) per US$1 - 2.7000 (fixed rate since 1976)

Fiscal year 1 April - 31 March

NOTE: The information regarding Anguilla on this page is re-published from the 1998 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Anguilla Economy 1998 information contained here. All suggestions for corrections of any errors about Anguilla Economy 1998 should be addressed to the CIA.