The Economy of Antigua and Barbuda

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, vegetables, sweet potatoes, cassava, yams (2022).

More about the economy of Antigua and Barbuda

Exchange rates
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
Currency	East Caribbean dollars (XCD) per US dollar -
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.)
Exchange rates 2019	2.7 (2019 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2023	$364.367 million (2023 est.)
Reserves of foreign exchange and gold 2022	$396.506 million (2022 est.)
Reserves of foreign exchange and gold 2021	$367.512 million (2021 est.)
Current account balance
Current account balance 2023	-$262.098 million (2023 est.)
Current account balance 2022	-$296.147 million (2022 est.)
Current account balance 2021	-$287.548 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	2.43% of GDP (2023 est.)
Remittances 2022	1.86% of GDP (2022 est.)
Remittances 2021	2.83% of GDP (2021 est.)
Imports
Imports 2023	$1.3 billion (2023 est.)
Imports 2022	$1.234 billion (2022 est.)
Imports 2021	$872.781 million (2021 est.)
Imports (partners)	US 57%, China 7%, Spain 4%, Brazil 4%, Finland 3% (2022)
Comodities Imports force	refined petroleum, ships, engine parts, plastic products, cars (2022)
Exports
Imports 2023	$1.3 billion (2023 est.)
Imports 2022	$1.234 billion (2022 est.)
Imports 2021	$872.781 million (2021 est.)
Exports (partners)	Suriname 28%, Poland 20%, Germany 13%, UK 8%, Barbados 5% (2022)
Comodities Exports force	refined petroleum, ships, gas turbines, soybean meal, liquor (2022)
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	$28,700 (2023 est.)
Real GDP per capita 2022	$27,800 (2022 est.)
Real GDP per capita 2021	$25,500 (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.)
Unemployment rate
Unemployment rate 2014	11% (2014 est.)

All Important Facts about Antigua and Barbuda

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Antigua and Barbuda is found in Caribbean