Central America and the Caribbean > Montserrat > Economy

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Agriculture > products cabbages, carrots, cucumbers, tomatoes, onions, peppers, livestock products
Budget > Expenditures	$31,600,000.00		[13th of 165]
Budget > Revenues	$31,400,000.00		[13th of 166]
Debt > External	$8,900,000.00		[6th of 136]
Economy > Overview Severe volcanic activity, which began in July 1995, has put a damper on this small, open economy. A catastrophic eruption in June 1997 closed the airports and seaports, causing further economic and social dislocation. Two-thirds of the 12,000 inhabitants fled the island. Some began to return in 1998, but lack of housing limited the number. The agriculture sector continued to be affected by the lack of suitable land for farming and the destruction of crops. Prospects for the economy depend largely on developments in relation to the volcanic activity and on public sector construction activity. The UK has launched a three-year $122.8 million aid program to help reconstruct the economy. Half of the island is expected to remain uninhabitable for another decade.
Exchange rates East Caribbean dollars per US dollar - 2.7 (2004), 2.7 (2003), 2.7 (2002), 2.7 (2001), 2.7 (2000)
Exports	$700,000.00		[32nd of 189]
Exports > Commodities electronic components, plastic bags, apparel; hot peppers, limes, live plants; cattle
Exports to US	$100,000.00		[208th of 224]
GDP	$29,000,000.00		[203rd of 203]
GDP (purchasing power parity)	$29,000,000.00		[19th of 187]
GDP > Composition by sector > Agriculture	1.2%		[12th of 146]
GDP > Composition by sector > Industry	23.1%		[7th of 146]
GDP > Composition by sector > Services	75.7%		[2nd of 146]
GDP > Real growth rate	-1%		[177th of 198]
Imports	$17,000,000.00		[38th of 185]
Inflation rate (consumer prices)	2.6%		[106th of 192]
Tourist arrivals by region of origin > Europe	3,196		[168th of 195]
Trade balance with US	$1,100,000.00		[83rd of 224]
Trade with US > US exports of textile, sewing machines	17		[141st of 183]

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