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Economy of Antigua and Barbuda

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economy of Antigua and Barbuda

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economy of Antigua and Barbuda

Currency East Caribbean Dollar (XCD)

fiscal year April 1 to March 31

Trade Organizations WTO, CARICOM

GDP statistics
0 million (2002 est. .)

GDP growth of 3% (2002 estimate) GDP per capita estimated

, 000 (2002) GDP

sector of agriculture 3.9%, industry: 19.2%, services: 76.8% (2002)
Inflation (CPI)
0.4% (2000 est.)
Populationbelow poverty line
no data
LFS

30 000 Labour forceby occupation agriculture: 7%, industry: 11% services: 82% (1983)

unemployment of 11% (2001 est.).

Main sectors tourism, construction, light industry (clothing, alcohol, household appliances)

Other exports 4 million (2004 est. )

export goods petroleum products 48%, manufactures 23%, machinery and transport equipment 17%, food and live animals 4%, other 8% Main export markets

Spain 29.9 partners %, Germany 18.2%, Poland 13.9%, Italy 6.4%, Singapore 5.1%, UK 4.4% (2005)

import 5 million (2004 est.)

goods imported food and live animals, machinery and transport equipment, manufacturing, chemicals, oil

Main import partners U.S. 20.3%, China 15.7%, Singapore 12 , 2%, Germany 10.9%, Spain 6.3% (2005) Public Finance

Public Debt 1 million (1999)

3 Revenues , € 7 million (2000)

expenses EUR 5.9 million (2000)

Economic aid recipient: .3 million (1995)
important Source: CIA World Fact BookAll values, unless otherwise stated in U.S. dollars
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Antigua and Barbuda’s economy is service-based, represented with tourism and government services the most important sources of employment and income. Accounts tourism directly or indirectly, more than half of GDP and is also the largest foreign exchange earner in Antigua and Barbuda. However, a series of violent hurricanes since 1995 resulted in heavy damage to tourism infrastructure and times of the drastic fall in visitor numbers . In 1999, the budding offshore financial sector has been heavy with financial sanctions of the United States and Britain as a result of the relaxation imposes the money violated money-laundering controls. The government has tried to get with the international standards in order comply with the sanctions are lifted. The dual island nation in agricultural production is mainly for the domestic market oriented, the sector is the limited water supply and labor shortages that reflect that limited the pull of higher wages in tourism and construction. Manufacturing comprises enclave assembly-type for export with major products, the bedding, handicrafts, and electronic components. outlook for economic growth in the medium term will continue to depend on income growth in the industrialized world, particularly in the U.S., approximately one third of all tourists accounts. Estimated overall economic growth for 2000 was 2.5%. Inflation Going Down tended by over 2 percent in the period 1995-1999 and estimated at 0 percent in 2000.
To reduce its vulnerability to natural disasters, Antigua has been diversifying the economy. Transport, communications and financial services are increasingly important.
Antigua a member of the Eastern Caribbean Currency Union (ECCU) is. The Eastern Caribbean Central Bank (ECCB) issues a common currency (the East Caribbean dollar) for all members of the ECCU. The ECCB also manages monetary policy and regulates and supervises commercial banking activities in its member countries.
Antigua and Barbuda is a beneficiary of the U.S. Caribbean Basin Initiative. 1998 exports to the U.S. were worth over U.S. million, and its U.S. imports totaled about U.S. million EUR. He is also one of the inhabited predominantly English-speaking Caribbean Community (CARICOM).

Economic History Before colonization, several Indian groups Antigua and Barbuda, which all rely on a subsistence economy. British colonists established settlements on the islands in 1632. After stabilizing the defense the Caribs, Dutch, French, and their colonies, settlers, tobacco, indigo, cotton and ginger grown as cash crops. As on many other Caribbean islands, sugar cane was the most profitable companies, will quickly surpass other cultures in economic importance. The vast tracts of land needed for large-scale sugar production, were decimated rainforests on the islands. Timber from the forest was used in shipbuilding and … (etc.) To get more information, please, some products visit the European kitchen cabinets, table and chair. The MX9115 sofa products should be more here

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