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

Economy Montserrat

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 volcanic activity and on public sector construction activity.
The UK has launched a three-year $122.8 million aid program to help
reconstruct the economy. Half of the island is expected to remain
uninhabitable for another decade.

GDP (purchasing power parity):
$29 million (2002 est.)

GDP (official exchange rate):
NA

GDP - real growth rate:
-1% (2002 est.)

GDP - per capita (PPP):
$3,400 (2002 est.)

GDP - composition by sector:
agriculture: 1.2%
industry: 23.1%
services: 75.7% (1999 est.)

Labor force:
4,521
note: lowered by flight of people from volcanic activity (2000 est.)

Unemployment rate:
6% (1998 est.)

Population below poverty line:
NA%

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

Inflation rate (consumer prices):
2.6% (2002 est.)

Budget:
revenues: $31.4 million
expenditures: $31.6 million; including capital expenditures of $8.4
million (1997 est.)

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

Industries:
tourism, rum, textiles, electronic appliances

Industrial production growth rate:
NA%

Electricity - production:
2 million kWh (2003)

Electricity - production by source:
fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (2001)

Electricity - consumption:
1.86 million kWh (2003)

Electricity - exports:
0 kWh (2003)

Electricity - imports:
0 kWh (2003)

Oil - production:
0 bbl/day (2003 est.)

Oil - consumption:
380 bbl/day (2003 est.)

Oil - exports:
NA bbl/day (2001)

Oil - imports:
NA