production of spices and tropical plants.
Agriculture accounts for about 10% of GDP and 80% of exports and
employs 24% of the labor force. Tourism is the leading foreign
exchange earner, followed by agricultural exports. Manufacturing
remains relatively undeveloped, but is growing due to a favorable
private investment climate since 1983. The economy achieved an
impressive average annual growth rate of 5.5% in 1986-91 but has
slowed since 1992. The new MITCHELL government has moved forward
with a plan to eliminate personal income tax in the hope of spurring
domestic consumption.

GDP: purchasing power parity - $284 million (1995 est.)

GDP real growth rate: 3% (1995 est.)

GDP per capita: $3,000 (1995 est.)

GDP composition by sector:
agriculture: 10.2%
industry: 40.3%
services: 49.5% (1994 est.)

Inflation rate (consumer prices): 3% (1995 est.)

Labor force: 36,000
by occupation: services 31%, agriculture 24%, construction 8%,
manufacturing 5%, other 32% (1985)

Unemployment rate: 14% (1995 est.)

Budget:
revenues: $75.7 million (1996 est.)
expenditures: $126.7 million, including capital expenditures of $51
million (1996 est.)

Industries: food and beverages, textiles, light assembly
operations, tourism, construction

Industrial production growth rate: 1.8% (1992 est.)

Electricity:
capacity: 12,500 kW
production: 60 million kWh
consumption per capita: 639 kWh (1993)

Agriculture: bananas, cocoa, nutmeg, mace, citrus, avocados, root
crops, sugarcane, corn, vegetables

Illicit drugs: produces and exports marijuana for US markets

Exports: $24.2 million (f.o.b., 1995 est.)
commodities: bananas, cocoa, nutmeg, fruit and vegetables, clothing,
mace
partners: Caricom 32.3%, UK 20%, US 13%, Netherlands 8.8% (1991)

Imports: $162.2 million (f.o.b., 1995 est.)
commodities: food 25%, manufactured goods 22%, machinery 20%,
chemicals 10%, fuel 6% (1989)
partners: US 31.2%, Caricom 23.6%, UK 13.8%, Japan 7.1% (1991)

External debt: $89.1 million (1995 est.)

Economic aid:
recipient: ODA, $NA

Currency: 1 EC dollar (EC$) = 100 cents

Exchange rates: East Caribbean dollars (EC$) per US$1 - 2.70
(fixed rate since 1976)

Fiscal year: calendar year

Transportation
--------------

Railways: 0 km

Highways:
total: 994 km
paved: 597 km
unpaved: 397 km (1988 est.)

Ports: Grenville, Saint George's

Merchant marine: none

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