Saint Vincent and the Grenadines - Economy
How is the economy of Saint Vincent and the Grenadines? Based on the information we have, Saint Vincent and the Grenadines has a upper middle-income Caribbean island economy; key agriculture and tourism sectors; environmentally fragile; diversifying economy across services, science and knowledge, and creative industries; CARICOM member and US Caribbean Basin Initiative beneficiary. Key agricultural products in this country include: bananas, root vegetables, plantains, vegetables, fruits, coconuts, mangoes/guavas, yams, spices, sweet potatoes (2022).
More about the economy of Saint Vincent and the Grenadines
Labor force 53,000 (2023 est.)
Industrial production growth rate 3.91% (2023 est.)
Industries tourism; food processing, cement, furniture, clothing, starch
Population below poverty line
Taxes and other revenues 23.8% (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 $414.492 million (2022 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2023 $280.564 million (2023 est.)
Reserves of foreign exchange and gold 2022 $320.193 million (2022 est.)
Reserves of foreign exchange and gold 2021 $311.903 million (2021 est.)
Current account balance
Current account balance 2023 -$142.763 million (2023 est.)
Current account balance 2022 -$186.777 million (2022 est.)
Current account balance 2021 -$197.13 million (2021 est.)
Public debt
Public debt 2017 73.8% of GDP (2017 est.)
Budget
Revenues $226.404 million (2017 est.)
Expenditures $208.744 million (2017 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2023 6.7% of GDP (2023 est.)
Remittances 2022 9.17% of GDP (2022 est.)
Remittances 2021 8.03% of GDP (2021 est.)
Imports
Imports 2023 $566.477 million (2023 est.)
Imports 2022 $537.929 million (2022 est.)
Imports 2021 $425.694 million (2021 est.)
Imports (partners) US 40%, Trinidad and Tobago 10%, China 6%, UK 6%, Turkey 5% (2022)
Comodities Imports force refined petroleum, poultry, ships, raw sugar, plastic products (2022)
Exports
Imports 2023 $566.477 million (2023 est.)
Imports 2022 $537.929 million (2022 est.)
Imports 2021 $425.694 million (2021 est.)
Exports (partners) Malaysia 34%, US 10%, Greece 9%, Barbados 8%, Spain 6% (2022)
Comodities Exports force refined petroleum, ships, fish, shellfish, wheat (2022)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2023 $1.858 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $1.752 billion (2022 est.)
Real GDP (purchasing power parity) 2021 $1.635 billion (2021 est.)
GDP (official exchange rate) $1.066 billion (2023 est.)
Real GDP Per capita
Real GDP per capita 2023 $17,900 (2023 est.)
Real GDP per capita 2022 $16,900 (2022 est.)
Real GDP per capita 2021 $15,700 (2021 est.)
GDP - composition, by sector of origin
Agriculture 4.2% (2023 est.)
Industry 14.2% (2023 est.)
Services 64.2% (2023 est.)
GDP - composition, by end use
Household consumption 87.3% (2017 est.)
Government consumption 16.6% (2017 est.)
Investment in fixed capital 10.8% (2017 est.)
Investment in inventories -0.2% (2017 est.)
Exports of goods and services 37.1% (2017 est.)
Imports of goods and services -51.7% (2017 est.)
Unemployment rate
Unemployment rate 2023 18.67% (2023 est.)
Unemployment rate 2022 19.51% (2022 est.)
Unemployment rate 2021 20.28% (2021 est.)
Youth unemployment rate (ages 15-24)
Total 42.3% (2023 est.)
Male 42.5% (2023 est.)
Female 42% (2023 est.)
All Important Facts about Saint Vincent and the Grenadines

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Saint Vincent and the Grenadines is found in Caribbean