matic representation from the US:
the US does not have an embassy in Saint Vincent and the Grenadines;
the US Ambassador to Barbados is accredited to Saint Vincent and the
Grenadines
Flag description:
three vertical bands of blue (hoist side), gold (double width), and
green; the gold band bears three green diamonds arranged in a V
pattern
Economy
Saint Vincent and the Grenadines
Economy - overview:
Economic growth slowed slightly in 2007 after reaching a 10 year
high of nearly 7% in 2006, but is expected to remain robust, hinging
upon seasonal variations in the agricultural and tourism sectors and
a recent increase in construction activity. This lower-middle-income
country is vulnerable to natural disasters - tropical storms wiped
out substantial portions of crops in 1994, 1995, and 2002. In 2007,
the islands had more than 200,000 tourist arrivals, mostly to the
Grenadines. Saint Vincent is home to a small offshore banking sector
and has moved to adopt international regulatory standards. The
government's ability to invest in social programs and respond to
external shocks is constrained by its high debt burden - 25 percent
of current revenues are directed towards debt servicing.
GDP (purchasing power parity):
$1.042 billion (2007 est.)
GDP (official exchange rate):
$559 million (2007 est.)
GDP - real growth rate:
6.6% (2007 est.)
GDP - per capita (PPP):
$9,800 (2007 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.)
Population below poverty line:
NA%
Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%
Budget:
revenues: $94.6 million
expenditures: $85.8 million (2000 est.)
Fiscal year:
calendar year
Inflation rate (consumer prices):
6.1% (2007 est.)
Central bank discount rate:
6.5% (31 December 2007)
Commercial bank prime lending rate:
9.61% (31 December 2007)
Stock of money:
$155.5 million (31 December 2007)
Stock of quasi money:
$280.2 million (31 December 2007)
Stock of domestic credit:
$387.8 million (31 December 2007)
Agriculture - products:
bananas, coconuts, sweet potatoes, spices; small numbers of cattle,
sheep, pigs, goats; fish
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