Central America and the Caribbean > Antigua and Barbuda > Economy

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Agriculture > products cotton, fruits, vegetables, bananas, coconuts, cucumbers, mangoes, sugarcane; livestock
Aid as % of GDP	1.4%		[76th of 129]
Current account balance	-$211,000,000.00		[93rd of 181]
Debt > External	$359,800,000.00		[133rd of 136]
Economy > Overview Antigua has a relatively high GDP per capita in comparison to most other Caribbean nations. It has experienced solid growth since 2003, driven by a construction boom in hotels and housing that which should wind down in 2008. Tourism continues to dominate the economy, accounting for more than half of GDP. 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. Prospects for economic growth in the medium term will continue to depend on income growth in the industrialized world, especially in the US, which accounts for slightly more than one-third of tourist arrivals. Since taking office in 2004, the SPENCER government has adopted an ambitious fiscal reform program, but will continue to be saddled by its debt burden with a debt-to-GDP ratio exceeding 100%.
Exchange rates East Caribbean dollars per US dollar - 2.7 (2004), 2.7 (2003), 2.7 (2002), 2.7 (2001), 2.7 (2000)
Exports	$84,300,000.00		[149th of 189]
Exports to US	$600,000.00		[182nd of 224]
GDP	$961,851,800.00		[146th of 203]
GDP (purchasing power parity)	$1,526,000,000.00		[173rd of 187]
GDP > PPP	$873,000,000.00		[156th of 163]
GDP > Real growth rate	6.1%		[72nd of 198]
GDP growth > annual %	7.19 annual %		[46th of 187]
GDP per capita, PPP > current international $	12,133.9 PPP $		[48th of 169]
Gross National Income	$626,831,000.00		[147th of 172]
Gross national income > constant LCU	1406811000
Human Development Index	0.797		[59th of 178]
Inflation rate (consumer prices)	1.5%		[167th of 192]
Total reserves minus gold > current US$	127,320,700 $		[151st of 178]
Tourist arrivals	232,000		[96th of 152]

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