presentation from the US: none (overseas territory of
the UK)

Flag description: blue, with the flag of the UK in the upper
hoist-side quadrant and the Montserratian coat of arms centered in
the outer half of the flag; the coat of arms features a woman
standing beside a yellow harp with her arm around a black cross

Montserrat Economy

Economy - overview: Severe volcanic activity, which began in July
1995, has put a damper on this small, open economy. A catastrophic
eruption in June 1997 closed the airports and seaports, causing
further economic and social dislocation. Two-thirds of the 12,000
inhabitants fled the island. Some began to return in 1998, but lack
of housing limited the number. The agriculture sector continued to
be affected by the lack of suitable land for farming and the
destruction of crops. Prospects for the economy depend largely on
developments in relation to the volcano and on public sector
construction activity. The UK committed to a three year $125 million
aid program in 1999 to help reconstruct the economy.

GDP: purchasing power parity - $31 million (1999 est.)

GDP - real growth rate: -1.5% (1999 est.)

GDP - per capita: purchasing power parity - $5,000 (1999 est.)

GDP - composition by sector: agriculture: 5.4%

industry: 13.6%

services: 81% (1996 est.)

Population below poverty line: NA%

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

highest 10%: NA%

Inflation rate (consumer prices): 5% (1998)

Labor force: 4,521 (1992); note - recently lowered by flight of
people from volcanic activity

Labor force - by occupation: agriculture NA%, industry NA%, services
NA%

Unemployment rate: 20% (1996 est.)

Budget: revenues: $31.4 million

expenditures: $31.6 million, including capital expenditures of $8.4
million (1997 est.)

Industries: tourism, rum, textiles, electronic appliances

Industrial production growth rate: NA%

Electricity - production: 10 million kWh (1999)

Electricity - production by source: fossil fuel: 100%

hydro: 0%

nuclear: 0%

other: 0% (1999)

Electricity - consumption: 9.3 million kWh (1999)

Electricity - exports: 0 kWh (1999)

Electricity - imports: 0 kWh (1999)

Agriculture - products: cabbages, carrots, cucumbers, tomatoes,
onions, peppers; livestock products

Exports: $1.5 million (1998)

Exports - commodities: electronic components, plastic bags, apparel,
hot peppers, live plants, cattle