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![]() ![]() Montserrat Economy 1997https://photius.com/wfb1997/montserrat/montserrat_economy.htmlSOURCE: 1997 CIA WORLD FACTBOOK Economy - overview The economy of this volcanic island is small and open, with economicactivity centered on tourism and related services. Tourism accounts for roughlyone-quarter of Montserrat's national income. The island's main export is electroniccomponents which are mainly shipped to the US. The agriculture sector is small;cabbages, carrots, cucumbers, and onions are grown for the domestic market;additionally, some hot peppers and live plants are exported to the US andEurope. Volcanic activity in late 1995 led to the repeated evacuation of Montserrat'scapital, Plymouth, and deep ash from the volcano destroyed much of the yearendcrops. These disruptions, compounded by hurricanes, caused production in 1995to drop precipitously. The likely slow recovery of tourism and the continueddanger of an eruption dimmed the prospects for rapid recovery in 1996. GDP purchasing power parity - $55.3 million (1995 est.) GDP - real growth rate -2.9% (1995 est.) GDP - per capita purchasing power parity - $4,360 (1995 est.) GDP - composition by sector
Inflation rate - consumer price index 4% (1995 est.) Labor force
Unemployment rate 6% (1995) Budget
Industries tourism, rum, textiles, electronic appliances Industrial production growth rate NA% Electricity - capacity NA kW Electricity - production NA kWh Electricity - consumption per capita NA kWh Agriculture - products cabbages, carrots, cucumbers, tomatoes, onions, peppers; livestock products Exports
Imports
Debt - external $10.2 million (December 1994) Economic aid $NA Currency 1 EC dollar (EC$) = 100 cents Exchange rates East Caribbean dollars (EC$) per US$1 - 2.70 (February 1997; fixed ratesince 1976) Fiscal year
1 April - 31 March
NOTE: The information regarding Montserrat on this page is re-published from the 1997 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Montserrat Economy 1997 information contained here. All suggestions for corrections of any errors about Montserrat Economy 1997 should be addressed to the CIA. |
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