Virgin Islands

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Introduction - Virgin Islands:
Location - Virgin Islands:
People - Virgin Islands:
Government - Virgin Islands:
Economy - Virgin Islands:

Economy overview

Tourism is the primary economic activity, accounting for 80% of GDP and employment. The islands hosted 2.6 million visitors in 2005. The manufacturing sector consists of petroleum refining, textiles, electronics, pharmaceuticals, and watch assembly. One of the worlds largest petroleum refineries is at Saint Croix. The agricultural sector is small, with most food being imported. International business and financial services are small but growing components of the economy. The islands are vulnerable to substantial damage from storms. The government is working to improve fiscal discipline, to support construction projects in the private sector, to expand tourist facilities, to reduce crime, and to protect the environment.

Gdp purchasing power parity

$1.577 billion (2004 est.)

Gdp official exchange rate

NA

Gdp real growth rate

2% (2002 est.)

Gdp per capita ppp

$14,500 (2004 est.)

Gdp composition by sector

agriculture: 1%
industry: 19%
services: 80% (2003 est.)

Labor force

43,980 (2004 est.)

Labor force by occupation

agriculture: 1%
industry: 19%
services: 80% (2003 est.)

Unemployment rate

6.2% (2004)

Population below poverty line

NA%

Household income or consumption by percentage share

lowest 10%: NA%
highest 10%: NA%

Inflation rate consumer prices

2.2% (2003)

Budget

revenues: $NA
expenditures: $NA

Agriculture products

fruit, vegetables, sorghum; Senepol cattle

Industries

tourism, petroleum refining, watch assembly, rum distilling, construction, pharmaceuticals, textiles, electronics

Industrial production growth rate

NA%

Electricity production

980 million kWh (2004)

Electricity consumption

911.4 million kWh (2004)

Electricity exports

0 kWh (2004)

Electricity imports

0 kWh (2004)

Oil production

17,110 bbl/day (2004 est.)

Oil consumption

115,000 bbl/day (2004 est.)

Oil exports

NA bbl/day

Oil imports

NA bbl/day

Oil proved reserves

0 bbl

Natural gas production

0 cu m (2004 est.)

Natural gas consumption

0 cu m (2004 est.)

Exports

$4.234 billion (2001)

Exports commodities

refined petroleum products

Exports partners

US, Puerto Rico (2006)

Imports

$4.609 billion (2001)

Imports commodities

crude oil, foodstuffs, consumer goods, building materials

Imports partners

US, Puerto Rico (2006)

Debt external

$NA

Economic aid recipient

$NA

Currency code

US dollar (USD)

Exchange rates

the US dollar is used

Communications - Virgin Islands:
Transportation - Virgin Islands:
Military - Virgin Islands:
This page was last updated on 16 September, 2007
Source: CIA >>>


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