Flag description:
blue, with a gold isosceles triangle below a black arrowhead; the
upper edges of the arrowhead have a white border
Economy Saint Lucia
Economy - overview:
Changes in the EU import preference regime and the increased
competition from Latin American bananas have made economic
diversification increasingly important in Saint Lucia. The island
nation has been able to attract foreign business and investment,
especially in its offshore banking and tourism industries. Tourism
is the main source of foreign exchange, with more than 700,000
arrivals in 2005. The manufacturing sector is the most diverse in
the Eastern Caribbean area, and the government is trying to
revitalize the banana industry. Economic fundamentals remain solid,
even though unemployment needs to be cut.
GDP (purchasing power parity):
$866 million (2002 est.)
GDP (official exchange rate):
$825 million (2005)
GDP - real growth rate:
5.1% (2005 est.)
GDP - per capita (PPP):
$4,800 (2005 est.)
GDP - composition by sector: agriculture: 5% industry: 15% services: 80% (2005 est.)
Labor force: 43,800 (2001 est.)
Labor force - by occupation: agriculture: 21.7% industry: 24.7% services: 53.6% (2002 est.)