Saint Lucia - Economy
How is the economy of Saint Lucia? Based on the information we have, Saint Lucia has a upper middle-income, tourism-based Caribbean island economy; environmentally fragile; energy import-dependent; major banana producer; well-educated labor force; key infrastructure, IT, and communications investments. Key agricultural products in this country include: coconuts, bananas, tropical fruits, fruits, plantains, root vegetables, chicken, vegetables, cassava, pork (2022).
More about the economy of Saint Lucia
Labor force 101,000 (2023 est.)
Industrial production growth rate 3.5% (2023 est.)
Industries tourism; clothing, assembly of electronic components, beverages, corrugated cardboard boxes, lime processing, coconut processing
Population below poverty line 25% (2016 est.)
Taxes and other revenues 18.23% (of GDP) (2017 est.)
Fiscal year
Exchange rates
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.)
Debt - external
Debt - external 2022 $687.824 million (2022 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2023 $424.324 million (2023 est.)
Reserves of foreign exchange and gold 2022 $389.083 million (2022 est.)
Reserves of foreign exchange and gold 2021 $433.117 million (2021 est.)
Current account balance
Current account balance 2023 -$45.381 million (2023 est.)
Current account balance 2022 -$67.064 million (2022 est.)
Current account balance 2021 -$221.371 million (2021 est.)
Public debt
Public debt 2017 70.7% of GDP (2017 est.)
Budget
Revenues $414.77 million (2017 est.)
Expenditures $351.956 million (2017 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2023 2.5% of GDP (2023 est.)
Remittances 2022 2.64% of GDP (2022 est.)
Remittances 2021 3.45% of GDP (2021 est.)
Household income
Lowest 10% 2.1% (2015 est.)
Highest 10% 34.1% (2015 est.)
Imports
Imports 2023 $1.274 billion (2023 est.)
Imports 2022 $1.194 billion (2022 est.)
Imports 2021 $891.761 million (2021 est.)
Imports (partners) US 76%, Trinidad and Tobago 4%, China 3%, UK 2%, Barbados 2% (2022)
Comodities Imports force refined petroleum, cars, plastic products, poultry, flavored water (2022)
Exports
Imports 2023 $1.274 billion (2023 est.)
Imports 2022 $1.194 billion (2022 est.)
Imports 2021 $891.761 million (2021 est.)
Exports (partners) US 17%, Guyana 16%, Trinidad and Tobago 14%, Barbados 9%, Suriname 7% (2022)
Comodities Exports force beer, gravel and crushed stone, paper containers, refined petroleum, liquor (2022)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2023 $4.083 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $3.957 billion (2022 est.)
Real GDP (purchasing power parity) 2021 $3.351 billion (2021 est.)
GDP (official exchange rate) $2.52 billion (2023 est.)
Real GDP Per capita
Real GDP per capita 2023 $22,700 (2023 est.)
Real GDP per capita 2022 $22,000 (2022 est.)
Real GDP per capita 2021 $18,700 (2021 est.)
GDP - composition, by sector of origin
Agriculture 0.9% (2023 est.)
Industry 8.6% (2023 est.)
Services 74.1% (2023 est.)
GDP - composition, by end use
Household consumption 66.1% (2017 est.)
Government consumption 11.2% (2017 est.)
Investment in fixed capital 16.9% (2017 est.)
Investment in inventories 0.1% (2017 est.)
Exports of goods and services 62.7% (2017 est.)
Imports of goods and services -56.9% (2017 est.)
Unemployment rate
Unemployment rate 2023 11.09% (2023 est.)
Unemployment rate 2022 15.93% (2022 est.)
Unemployment rate 2021 20.51% (2021 est.)
Youth unemployment rate (ages 15-24)
Total 28.2% (2023 est.)
Male 29.5% (2023 est.)
Female 26.5% (2023 est.)
All Important Facts about Saint Lucia

Want to know more about Saint Lucia? Check all different factbooks for Saint Lucia below.

Saint Lucia is found in Caribbean