yril B. ROMNEY
Suffrage:
18 years of age; universal
Elections:
Legislative Council:
last held 12 November 1990 (next to be held by November 1995); results -
percent of vote by party NA; seats - (9 total) VIP 6, IPM 1, independents 2
Executive branch:
British monarch, governor, chief minister, Executive Council (cabinet)
Legislative branch:
unicameral Legislative Council
Judicial branch:
Eastern Caribbean Supreme Court
Leaders:
Chief of State:
Queen ELIZABETH II (since 6 February 1952), represented by Governor Peter
Alfred PENFOLD (since NA 1991)
Head of Government:
Chief Minister H. Lavity STOUTT (since NA 1986)
Member of: CARICOM (associate), CDB, ECLAC (associate), IOC, OECS (associate), UNESCO
(associate)
Diplomatic representation in US:
none (dependent territory of UK)
Flag:
blue with the flag of the UK in the upper hoist-side quadrant and the Virgin
Islander coat of arms centered in the outer half of the flag; the coat of
arms depicts a woman flanked on either side by a vertical column of six oil
lamps above a scroll bearing the Latin word VIGILATE (Be Watchful)

*British Virgin Islands, Economy

Overview:
The economy, one of the most prosperous in the Caribbean area, is highly
dependent on the tourist industry, which generates about 21% of the national
income. In 1985 the government offered offshore registration to companies
wishing to incorporate in the islands, and, in consequence, incorporation
fees generated about $2 million in 1987. The economy slowed in 1991 because
of the poor performances of the tourist sector and tight commercial bank
credit. Livestock raising is the most significant agricultural activity. The
islands' crops, limited by poor soils, are unable to meet food requirements.
National product:
GDP - purchasing power equivalent - $133 million (1991)
National product real growth rate:
2% (1991)
National product per capita:
$10,600 (1991)
Inflation rate (consumer prices):
2.5% (1990 est.)
Unemployment rate:
NEGL% (1992)
Budget:
revenues $51 million; expenditures $88 million, including capital
expenditures of $38 million (1991)
Exports:
$2.7 million (f.o.b., 1988)
commodities:
rum, fresh fish, gravel, sand, fruits, animals
partners:
Virgin Islands (US), Puerto Rico, US
Imports:
$11.5 million (c.i.f., 1988)
commodities:
building materials, automobiles, foodstuffs, machinery
partners:
Virgin Isl