Virgin Islands' Economy | Virgin Islander Economy

Economy - overview: Tourism is the primary economic activity, accounting for 80% of GDP and employment. The islands normally host 2 million visitors a year. The manufacturing sector consists of petroleum refining, textiles, electronics, pharmaceuticals, and watch assembly. The agricultural sector is small, with most food being imported. International business and financial services are a small but growing component of the economy. One of the world's largest petroleum refineries is at Saint Croix. The islands are subject to substantial damage from storms. The government is working to improve fiscal discipline, to support construction projects in the private sector, to expand tourist facilities, to reduce crime, and to protect the environment.

GDP: purchasing power parity - $2.5 billion (2002 est.)

GDP - real growth rate: 2% (2002 est.)

GDP - per capita: purchasing power parity - $17,200 (2002 est.)

GDP - composition by sector: agriculture: 1% industry: 19% services: 80% (2003 est.)

Population below poverty line: NA

Household income or consumption by percentage share: lowest 10%: NA highest 10%: NA

Distribution of family income - Gini index:

Inflation rate (consumer prices):

Labor force: 48,900 (2003 est.)

Labor force - by occupation: agriculture 1%, industry 19%, services 80% (2003 est.)

Unemployment rate: 9.3% (2003 est.)

Budget: revenues: $560 expenditures: NA (2003)

Industries: tourism, petroleum refining, watch assembly, rum distilling, construction, pharmaceuticals, textiles, electronics

Industrial production growth rate: NA

Electricity - production: 1.03 billion kWh (2001)

Electricity - production by source:

Electricity - consumption: 957.9 million kWh (2001)

Electricity - exports: 0 kWh (2001)

Electricity - imports: 0 kWh (2001)

Oil - production: 0 bbl/day (2001 est.)

Oil - consumption: 66,000 bbl/day (2001 est.)

Oil - exports: NA (2001)

Oil - imports: NA (2001)

Oil - proved reserves:

Natural gas - production:

Natural gas - consumption:

Natural gas - exports:

Natural gas - imports:

Natural gas - proved reserves:

Agriculture - products: fruit, vegetables, sorghum; Senepol cattle

Exports: NA

Exports - commodities: refined petroleum products

Exports - partners: US, Puerto Rico

Imports: NA

Imports - commodities: crude oil, foodstuffs, consumer goods, building materials

Imports - partners: US, Puerto Rico

Debt - external: NA

Economic aid - recipient: NA

Currency: US dollar (USD)

Currency code: USD

Exchange rates: the US dollar is used

Fiscal year: 1 October - 30 September



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