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Anguilla banking Information
Anguilla has few natural resources, and the economy depends heavily on luxury tourism, offshore banking, lobster fishing, and remittances from emigrants. Increased activity in the tourism industry, which has spurred the growth of the construction sector, has contributed to economic growth. Anguillan officials have put substantial effort into developing the offshore financial sector, which is small, but growing. In the medium term, prospects for the economy will depend largely on the tourism sector and, therefore, on revived income growth in the industrialized nations as well as on favorable weather conditions.
GDP (purchasing power parity):
$112 million (2002 est.)
GDP — real growth rate:
2.8% (2001 est.)
GDP — per capita:
purchasing power parity: $7,500 (2002 est.)
GDP — composition by sector:
agriculture: 4%
industry: 18%
services: 78%
(2002)
Labor force:
6,049 (2001 est.)
Labor force — by occupation:
agriculture/fishing/forestry/mining: 4%, manufacturing: 3%, construction: 18%, transportation and utilities: 10%, commerce: 36%, services: 29% (2000 est.)
Unemployment rate:
8% (2002 est.)
Population below poverty line:
23% (2002 est.)
Household income or consumption by percentage share:
lowest 10%: NA
highest 10%: NA
Inflation rate (consumer prices):
2.3%
Budget:
revenues: $22.8 million
expenditures: $22.5 million including capital expenditures of NA (2000 est.)
Agriculture — products:
Small quantities of tobacco, vegetables; cattle raising
Industries:
tourism, boat building, offshore financial services
Industrial production growth rate:
3.1% (1997 est.)
Electricity — production:
NA
Electricity — consumption:
42.6 million kWh
Exports:
$2.6 million (1999 est.)
Exports — commodities:
lobster, fish, livestock, salt, concrete blocks, rum
Exports — partners:
UK, US, Puerto Rico, Saint-Martin (2000)
Imports:
$80.9 million (1999 est.)
Imports — commodities:
fuels, foodstuffs, manufactures, chemicals, trucks, textiles
Imports — partners:
US, Puerto Rico, UK (2000)
Debt — external:
$8.8 million (1998 est.)
Economic aid — recipient:
$9 million (2004 est.)
Currency:
East Caribbean dollar (XCD)
Exchange rates:
East Caribbean dollars per US$: 2.7 (2004 est.), 2.7 (2003 est.), 2.7 (2002 est.), 2.7 (2001 est.), 2.7 (2000 est.)
note: Fixed rate since 1976
Fiscal year:
1 April - 31 March
Source - Yahoo.com
*If you have assets worth $300,000 USD or more and would like it safeguarded in an Anguilla Bank Account, click here for a consultation request..