Economy Saint Vincent and the Grenadines
Economy - overview:
Economic growth in this lower-middle-income country hinges upon
seasonal variations in the agricultural and tourism sectors.
Tropical storms wiped out substantial portions of crops in 1994,
1995, and 2002, and tourism in the Eastern Caribbean has suffered
low arrivals following 11 September 2001. Saint Vincent is home to a
small offshore banking sector and has moved to adopt international
regulatory standards. Saint Vincent is also a producer of marijuana
and is being used as a transshipment point for illegal narcotics
from South America.
GDP (purchasing power parity):
$342 million (2002 est.)
GDP (official exchange rate):
$428 million
GDP - real growth rate:
4.9% (2005 est.)
GDP - per capita (PPP):
$3,600 (2005 est.)
GDP - composition by sector: agriculture: 10% industry: 26% services: 64% (2001 est.)
Labor force: 41,680 (1991 est.)
Labor force - by occupation: agriculture: 26% industry: 17% services: 57% (1980 est.)
Unemployment rate:
15% (2001 est.)