Saint Lucia economy is characterized by diversified industrial and business activities. Saint Lucia tourism, banana cultivation, coconut processing, electronic components assembly are the main economic activities in Saint Lucia. The economy of this nation is judged by certain parameters..
Economic parameters that are of key concern to an investor or a traveler are :
- The Gross Domestic Product (GDP) calculated at official exchange rate was US $ 825 million in 2005
- The GDP calculated using purchasing power parity (PPP) was US $ 1.179 billion according to 2006 estimates
- The per capita GDP calculated using PPP method was US $ 4800 as per 2005 data
- 80% of the national GDP is contributed by the services sector, followed by 15% by the industries sector, and 5% by the agricultural facility
- 53.6% of the total labor force of about 44,000 is employed in the services sector, 24.7% in the industrial sector, and remaining 21.7% in agriculture
- The export earnings in 2004 was US $ 82 million and the imports amounted to US $ 410 million
Banana plantations, vegetable farming, coconut growing, cocoa cultivation, and fruit farming make up Saint Lucia agriculture. The industrial activities include: beverage manufacturing, coconut and lime processing, manufacturing of corrugated cardboard box, clothing, and electronic components manufacturing.
Saint Lucia tourism has evolved to become an important commercial and economic activity. The booming tourism industry has encouraged foreign companies to invest in this sector, as well as in Saint Lucia banking. Numerous offshore banks have grown in Saint Lucia very lately.
The economy of Saint Lucia has a very strong foundation, which has enabled it to maintain a healthy exchange rate for its local currency against the American dollar. East Caribbean dollar is the currency of Saint Lucia.
For more information on
Saint Lucia economy log on to:
