Saint Lucia:
Economy

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Other pages in this profile of Saint Lucia:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.


Economy - overview	Definition The island nation has been able to attract foreign business and investment, especially in its offshore banking and tourism industries, with a surge in foreign direct investment in 2006, attributed to the construction of several tourism projects. Tourism is the main source of foreign exchange, with almost 900,000 arrivals in 2007. The manufacturing sector is the most diverse in the Eastern Caribbean area, and the government is trying to revitalize the banana industry. Saint Lucia is vulnerable to a variety of external shocks including declines in European Union banana preferences, volatile tourism receipts, natural disasters, and dependence on foreign oil. High debt servicing obligations constrain the KING administration's ability to respond to adverse external shocks. Economic fundamentals remain solid, even though unemployment needs to be reduced.
GDP (purchasing power parity)	Definition - World rank and map $1.794 billion (2007 est.)
GDP (official exchange rate)	Definition $958 million (2007 est.)
GDP - real growth rate	Definition - World rank and map 3.2% (2007 est.)
GDP - per capita	Definition - World rank and map $10,700 (2007 est.)
GDP - composition by sector	Definition agriculture: 5% industry: 15% services: 80% (2005 est.)
Labor force	Definition 43,800 (2001 est.)
Labor force - by occupation	Definition agriculture: 21.7% industry: 24.7% services: 53.6% (2002 est.)
Unemployment rate	Definition - World rank and map 20% (2003 est.)
Population below poverty line	Definition NA%
Household income or consumption by percentage share	Definition lowest 10%: NA% highest 10%: NA%
Inflation rate (consumer prices)	Definition - World rank and map 1.9% (2007 est.)
Budget	Definition revenues: $141.2 million expenditures: $146.7 million (2000 est.)
Agriculture - products	Definition bananas, coconuts, vegetables, citrus, root crops, cocoa
Industries	Definition clothing, assembly of electronic components, beverages, corrugated cardboard boxes, tourism; lime processing, coconut processing
Industrial production growth rate	Definition - World rank and map -8.9% (1997 est.)
Electricity - production	Definition - World rank and map 304.2 million kWh (2005)
Electricity - consumption	Definition - World rank and map 282.9 million kWh (2005)
Electricity - consumption per capita	Definition - World rank and map 1,636.4 kWh (2005)
Electricity - exports	Definition 0 kWh (2005)
Electricity - imports	Definition 0 kWh (2005)
Oil - production	Definition - World rank and map 0 bbl/day (2005 est.)
Oil - consumption	Definition - World rank and map 2,700 bbl/day (2005 est.)
Oil - consumption per 1,000 people	Definition - World rank and map 15.6 bbl/day (2005 est.)
Oil - exports	Definition - World rank and map 0 bbl/day (2004)
Oil - imports	Definition - World rank and map 2,678 bbl/day (2004)
Oil - proved reserves	Definition - World rank and map 0 bbl (1 January 2006 est.)
Natural gas - production	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - consumption	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - consumption per capita	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - exports	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - imports	Definition - World rank and map 0 cu m (2005)
Natural gas - proved reserves	Definition - World rank and map 0 cu m (1 January 2006 est.)
Current account balance	Definition - World rank and map -$199 million (2007 est.)
Exports	Definition - World rank and map $288 million (2006)
Exports - commodities	Definition bananas 41%, clothing, cocoa, vegetables, fruits, coconut oil
Exports - partners	Definition US 24.6%, France 23.4%, UK 21.1%, Antigua and Barbuda 5.1%, Dominica 4.9%, Barbados 4.4%, Trinidad and Tobago 4.1% (2006)
Imports	Definition - World rank and map $791 million (2006)
Imports - commodities	Definition food 23%, manufactured goods 21%, machinery and transportation equipment 19%, chemicals, fuels
Imports - partners	Definition US 25.1%, Trinidad and Tobago 20.2%, Venezuela 9.5%, Netherlands 7.9%, UK 4.9%, Barbados 4.3% (2006)
Debt - external	Definition - World rank and map $257 million (2004)
Economic aid - recipient	Definition $11.06 million (2005)
Currency (code)	Definition East Caribbean dollar (XCD)
Exchange rates	Definition East Caribbean dollars per US dollar - 2.7 (2007), 2.7 (2006), 2.7 (2005), 2.7 (2004), 2.7 (2003)
Fiscal year	Definition 1 April - 31 March

Saint Lucia: Economy

Saint Lucia:
Economy