Diplomatic representation from the US: none (dependent territory of the UK)
Flag description: blue with the flag of the UK in the upper hoist-side quadrant and the Virgin Islander coat of arms centered in the outer half of the flag; the coat of arms depicts a woman flanked on either side by a vertical column of six oil lamps above a scroll bearing the Latin word VIGILATE (Be Watchful)
@British Virgin Islands:Economy
Economy-overview: The economy, one of the most prosperous in the Caribbean, is highly dependent on tourism, which generates an estimated 45% of the national income. In 1985, the government began offering offshore registration to companies wishing to incorporate in the islands, and incorporation fees now generate substantial revenues. An estimated 210,000 companies were on the offshore registry by yearend 1996. 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, is expected to make 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 traditional close links with the US Virgin Islands, the British Virgin Islands has used the dollar as their currency since 1959.
GDP: purchasing power parity-$144 million (1996 est.)
GDP-real growth rate: 4.5% (1996 est.)
GDP-per capita: purchasing power parity-$11,000 (1996 est.)
GDP-composition by sector: agriculture: 3% industry: 14% services: 83% (1989)
Inflation rate-consumer price index: 2.5% (1990 est.)
Labor force: total: 4,911 (1980) by occupation: tourism NA%