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
Labor force
Industrial production growth rate 3.16% (2022 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
Exchange rates
Currency East Caribbean dollars (XCD) per US dollar -
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.)
Exchange rates 2018 2.7 (2018 est.)
Debt - external
Debt - external 31 December 2012 $441.2 million (31 December 2012)
Debt - external June 2010 $458 million (June 2010)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2022 $396.506 million (2022 est.)
Reserves of foreign exchange and gold 2021 $367.512 million (2021 est.)
Reserves of foreign exchange and gold 2020 $221.809 million (2020 est.)
Current account balance
Current account balance 2022 -$284.522 million (2022 est.)
Current account balance 2021 -$243.68 million (2021 est.)
Current account balance 2020 -$230.679 million (2020 est.)
Public debt
Public debt 2017 86.8% of GDP (2017 est.)
Public debt 2016 86.2% of GDP (2016 est.)
Budget
Revenues $278 million (2020 est.)
Expenditures $357 million (2020 est.)
Budget surplus (+) or deficit (-) -2.4% (of GDP) (2017 est.)
Remittances
Remittances 2022 1.85% of GDP (2022 est.)
Remittances 2021 2.83% of GDP (2021 est.)
Remittances 2020 2.57% of GDP (2020 est.)
Imports
Imports 2022 $1.176 billion (2022 est.)
Imports 2021 $866.971 million (2021 est.)
Imports 2020 $739.747 million (2020 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 2022 $1.176 billion (2022 est.)
Imports 2021 $866.971 million (2021 est.)
Imports 2020 $739.747 million (2020 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) 2022 $2.093 billion (2022 est.)
Real GDP (purchasing power parity) 2021 $1.911 billion (2021 est.)
Real GDP (purchasing power parity) 2020 $1.766 billion (2020 est.)
GDP (official exchange rate) $1.868 billion (2022 est.)
Real GDP Per capita
Real GDP per capita 2022 $22,300 (2022 est.)
Real GDP per capita 2021 $20,500 (2021 est.)
Real GDP per capita 2020 $19,100 (2020 est.)
GDP - composition, by sector of origin
Agriculture 1.8% (2017 est.)
Industry 20.8% (2017 est.)
Services 77.3% (2017 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 73.9% (2017 est.)
Imports of goods and services -66.5% (2017 est.)
Unemployment rate
Unemployment rate 2014 11% (2014 est.)
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Antigua and Barbuda is found in Caribbean