Antigua and Barbuda - Economy
How is the economy of Antigua and Barbuda? Based on the information we have, Antigua and Barbuda has a dual island-tourism and construction-driven economy; emerging “blue economy”; limited water supply and susceptibility to hurricanes limit activity; improving road infrastructure; friendly to foreign direct investment; looking at financial innovation in cryptocurrency and blockchain technologies. Key agricultural products in this country include: tropical fruits, milk, mangoes/guavas, eggs, lemons/limes, pumpkins/squash, sweet potatoes, vegetables, cucumbers/gherkins, yams (2023).
More about the economy of Antigua and Barbuda
Labor force
Industrial production growth rate 3.89% (2023 est.)
Industries tourism, construction, light manufacturing (clothing, alcohol, household appliances)
Population below poverty line
Taxes and other revenues 19.6% (of GDP) (2017 est.)
Fiscal year
Exchange rates
Currency East Caribbean dollars (XCD) per US dollar -
Exchange rates 2024 2.7 (2024 est.)
Exchange rates 2023 2.7 (2023 est.)
Exchange rates 2022 2.7 (2022 est.)
Exchange rates 2021 2.7 (2021 est.)
Exchange rates 2020 2.7 (2020 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2024 $358.441 million (2024 est.)
Reserves of foreign exchange and gold 2023 $364.367 million (2023 est.)
Reserves of foreign exchange and gold 2022 $396.506 million (2022 est.)
Current account balance
Current account balance 2023 -$271.047 million (2023 est.)
Current account balance 2022 -$291.674 million (2022 est.)
Current account balance 2021 -$284.882 million (2021 est.)
Public debt
Public debt 2017 86.8% of GDP (2017 est.)
Budget
Revenues $251.418 million (2014 est.)
Expenditures $266.044 million (2014 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2023 1.72% of GDP (2023 est.)
Remittances 2022 1.86% of GDP (2022 est.)
Remittances 2021 2.83% of GDP (2021 est.)
Imports
Imports 2023 $1.273 billion (2023 est.)
Imports 2022 $1.227 billion (2022 est.)
Imports 2021 $867.846 million (2021 est.)
Imports (partners) USA 43%, Poland 6%, China 5%, UK 4%, Germany 4% (2023)
Comodities Imports force ships, refined petroleum, cars, plastic products, furniture (2023)
Exports
Imports 2023 $1.273 billion (2023 est.)
Imports 2022 $1.227 billion (2022 est.)
Imports 2021 $867.846 million (2021 est.)
Exports (partners) Suriname 29%, Poland 21%, USA 8%, Dominican Republic 7%, Australia 5% (2023)
Comodities Exports force refined petroleum, ships, soybean meal, shellfish, paintings (2023)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2023 $2.703 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $2.603 billion (2022 est.)
Real GDP (purchasing power parity) 2021 $2.376 billion (2021 est.)
GDP (official exchange rate) $2.033 billion (2023 est.)
Real GDP Per capita
Real GDP per capita 2023 $29,000 (2023 est.)
Real GDP per capita 2022 $28,000 (2022 est.)
Real GDP per capita 2021 $25,700 (2021 est.)
GDP - composition, by sector of origin
Agriculture 1.9% (2023 est.)
Industry 19.4% (2023 est.)
Services 67.8% (2023 est.)
GDP - composition, by end use
Household consumption 53.5% (2017 est.)
Government consumption 15.2% (2017 est.)
Investment in fixed capital 23.9% (2017 est.)
Investment in inventories 0.1% (2017 est.)
Exports of goods and services 54.7% (2022 est.)
Imports of goods and services -62.9% (2022 est.)
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Antigua and Barbuda is found in Caribbean