FACTOID # 8: United we stand? The United Kingdom and United States are both in the top ten for Gross Domestic Product - and for child poverty.
 
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Central America and the Caribbean > British Virgin Islands > Economy

BRITISH VIRGIN ISLANDER ECONOMY STATS:   Top Stats   All Stats  
View this page with:    Just Stats   Sources   Definitions   Both  
Agriculture > products
fruits, vegetables; livestock, poultry; fish
Budget > Expenditures $180,400,000.00 Time series [20th of 165]
Budget > Revenues $204,700,000.00 Time series [20th of 166]
Debt > External $36,100,000.00 Time series [5th of 136]
Economy > Overview
The economy, one of the most stable and prosperous in the Caribbean, is highly dependent on tourism, generating an estimated 45% of the national income. An estimated 820,000 tourists, mainly from the US, visited the islands in 2005. In the mid-1980s, the government began offering offshore registration to companies wishing to incorporate in the islands, and incorporation fees now generate substantial revenues. Roughly 400,000 companies were on the offshore registry by yearend 2000. The adoption of a comprehensive insurance law in late 1994, which provides a blanket of confidentiality with regulated statutory gateways for investigation of criminal offenses, made the British Virgin Islands even more attractive to international business. Livestock raising is the most important agricultural activity; poor soils limit the islands' ability to meet domestic food requirements. Because of traditionally close links with the US Virgin Islands, the British Virgin Islands has used the US dollar as its currency since 1959.
Exchange rates the US dollar is used
Exports $25,300,000.00 Time series [182nd of 189]
Exports > Commodities
rum, fresh fish, fruits, animals; gravel, sand
Exports to US $6,300,000.00 [138th of 224]
Fiscal year 1 April - 31 March Time series
GDP $320,000,000.00 Time series [189th of 203]
GDP (official exchange rate) $839,700,000.00 Time series [4th of 192]
GDP (purchasing power parity) $853,400,000.00 Time series [9th of 187]
GDP > Real growth rate 1% Time series [153rd of 198]
Imports $187,000,000.00 Time series [165th of 185]
Imports from US $17,400,000.00 [120th of 224]
Inflation rate (consumer prices) 2% Time series [156th of 192]
Tourist arrivals by region of origin > Europe 49,952 Time series [132nd of 195]
Trade balance with US $11,100,000.00 [46th of 224]
Trade with US > US exports of textile, sewing machines 16 [142nd of 183]

... View all Economy stats

SOURCES: CIA World Factbook, 28 July 2005; All CIA World Factbooks 18 December 2003 to 18 December 2008; US Census Bureau; World Development Indicators database and CIA World Factbook; Source: World Tourism Organization Statistics Database and Yearbook | United Nations World Tourism Organization; FTDWebMaster, Foreign Trade Division, U.S. Census Bureau

ALTERNATIVE NAMES: British Virgin Islands, virgin islands (british), virgin isls. (brit.), Virgin Islands, British

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