Overview:
Anguilla's thin arid soil is largely unsuitable for agriculture, and the island has few land-based natural resources. Its main industries are tourism, offshore incorporation and management, offshore banking, and fishing. Many insurance and financial business are headquartered in Anguilla.
The economy of Anguilla is expanding rapidly, especially the tourism sector which is driving major new developments in partnerships with multi-national companies. This boom, beginning gently during 2005-2006, is accelerating through 2007 and is expected to continue for years. In an effort to prevent overheating, there is currently a moratorium on "non-belongers" (foreigners) buying land in Anguilla. Anguilla's currency is the East Caribbean dollar, though the US dollar is also widely accepted. The exchange rate is fixed to the US dollar at US$1 = EC$2.70.
The following statistics represent key indicators of Anguilla’s economy;
GDP (purchasing power parity):$108.9 million (2004 est.)
GDP - real growth rate:10.2% (2004 est.)
GDP - per capita (PPP):$8,800 (2004 est.)
GDP - composition by sector:agriculture: 4% industry: 18% services: 78% (2002 est.)Labor force:6,049 (2001)
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)
Inflation rate (consumer prices):5.3% (2006 est.)
Budget:revenues: $22.8 million expenditures: $22.5 million (2000 est.)
Agriculture - products:small quantities of tobacco, vegetables; cattle raising
Industries:tourism, boat building, offshore financial services
Exports:$13 million (2006)
Exports - commodities:lobster, fish, livestock, salt, concrete blocks, rum
Exports - partners:UK, US, Puerto Rico, Saint-Martin (2006)I
Imports:$143 million (2006)
Imports - commodities:fuels, foodstuffs, manufactures, chemicals, trucks, textiles
Imports - partners:US, Puerto Rico, UK (2006)
Economic aid - recipient:$9 million (2004 est.)
Debt - external:$8.8 million (1998)
Currency (code):East Caribbean dollar (XCD)
Exchange rates:East Caribbean dollars per US dollar - 2.7 (2007), 2.7 (2006), 2.7 (2005), 2.7 (2004), 2.7 (2003) note: fixed rate since 1976
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