University of Phoenix

The fastest growing school in the world. Highly career-focused education, designed to accelerate the careers of working professionals. Both campus-based and online. Wide range of degrees, programs, locations.

Montserrat Economy: from the All Country Info reference guide to country facts

Montserrat Economy

Montserrat Economy: A summary of information about Montserrat Economy, from government research data as well as independent research and other sources.

You are here:
All CountriesMontserrat > Montserrat Economy

Montserrat: Economy

Economy - overview
Severe volcanic activity, which began in July
1995, put a damper on this small, open economy throughout 1996-99. A
catastrophic eruption in June 1997 closed the air and sea ports,
causing further economic and social dislocation. Two-thirds of the
12,000 inhabitants fled the island. Some began to return in 1998, but
lack of housing limited the number. The agriculture sector continued
to be affected by the lack of suitable land for farming and the
destruction of crops. Construction was the dominant activity in 1997
and 1998. GDP declined again in 1998. Prospects for the economy depend
largely on developments in relation to the volcano and on public
sector construction activity. The UK committed about $100 million in
1996-98 to help reconstruct the economy and has programmed additional
aid for 1999-2001.
GDP
purchasing power parity - $31 million (1998 est.)
GDP - real growth rate
-16% (1998 est.)
GDP - per capita
purchasing power parity - $NA
GDP - composition by sector
agriculture: 5.4%
industry: 13.6%
services: 81% (1996 est.)
Population below poverty line
NA%
Household income or consumption by percentage share
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices)
5% (1998)
Labor force
4,521 (1992); note - recently lowered by flight of people
from volcanic activity
Labor force - by occupation
agriculture NA%, industry NA%, services
NA%
Unemployment rate
20% (1996 est.)
Budget
revenues: $31.4 million
expenditures: $31.6 million, including capital expenditures of $8.4
million (1997 est.)
Industries
tourism, rum, textiles, electronic appliances
Industrial production growth rate
NA%
Electricity - production
10 million kWh (1998)
Electricity - production by source
fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (1998)
Electricity - consumption
9 million kWh (1998)
Electricity - exports
0 kWh (1998)
Electricity - imports
0 kWh (1998)
Agriculture - products
cabbages, carrots, cucumbers, tomatoes,
onions, peppers; livestock products
Exports
$1.5 million (1998)
Exports - commodities
electronic components, plastic bags, apparel,
hot peppers, live plants, cattle
Exports - partners
US, Antigua and Barbuda (1993)
Imports
$26 million (1998)
Imports - commodities
machinery and transportation equipment,
foodstuffs, manufactured goods, fuels, lubricants, and related
materials
Imports - partners
US, UK, Trinidad and Tobago, Japan, Canada (1993)
Debt - external
$8.9 million (1997)
Economic aid - recipient
$9.8 million (1995); note - about $100
million (1996-98) in reconstruction aid from the UK; Country Policy
Plan (1999) is a three-year program for spending $122.8 million in
British budgetary assistance
Currency
1 East Caribbean dollar (EC$) = 100 cents
Exchange rates
East Caribbean dollars (EC$) per US$1 - 2.7000 (fixed
rate since 1976)
Fiscal year
1 April - 31 March
Locations:
Home
Afghanistan
Albania
Algeria
American Samoa
Andorra
Angola
Anguilla
Antarctica
Antigua & Barbuda
Arctic Ocean
Argentina
Armenia
Aruba
Ashmore & Cartier Islands
Atlantic Ocean
Australia
Austria
Azerbaijan
Bahrain
Baker Island
Bangladesh
Barbados
Bassas Da India
Belarus
Belgium
Belize
Benin
Bermuda
Bhutan
Bolivia
Bosnia & Herzegovina
Botswana
Bouvet Island
Brazil
British Indian Ocean Territory
British Virgin Islands
Brunei
Bulgaria
Burkina Faso
Burma
Burundi
Cambodia
Cameroon
Canada
Cape Verde
Cayman Islands
Central African Republic
Chad
Chile
China
Christmas Island
Clipperton Island
Colombia
Comoros
Cook Islands
Coral Sea Islands
Costa Rica
Croatia
Cuba
Cyprus
Czech Republic
Denmark
Djibouti
Dominica
Dominican Republic
Ecuador
Egypt
El Salvador
Equatorial Guinea
Eritrea
Estonia
Ethiopia
Europa Island
Faroe Islands
Fiji
Finland
France
French Guiana
French Polynesia
Gabon
Gaza Strip
Georgia
Germany
Ghana
Gibraltar
Glorioso Islands
Greece
Greenland
Grenada
Guadeloupe
Guam
Guatemala
Guernsey
Guinea
Guyana
Haiti
Honduras
Hong Kong
Howland Island
Hungary
Iceland
India
Indian Ocean
Indonesia
Iran
Iraq
Ireland
Israel
Italy
Jamaica
Jan Mayen
Japan
Jarvis Island
Jersey
Johnston Atoll
Jordan
Juan De Nova Island
Kazakhstan
Kenya
Kingman Reef
Kiribati
Korea
Kuwait
Kyrgyzstan
Laos
Latvia
Lebanon
Lesotho
Liberia
Libya
Liechtenstein
Lithuania
Luxembourg
Macau
Madagascar
Malawi
Malaysia
Maldives
Mali
Malta
Marshall Islands
Martinique
Mauritania
Mauritius
Mayotte
Mexico
Midway Islands
Moldova
Monaco
Mongolia
Montserrat
Morocco
Mozambique
Namibia
Nauru
Navassa Island
Netherlands
Netherlands Antilles
New Caledonia
New Zealand
Nicaragua
Niger
Nigeria
Niue
Norfolk Island
Northern Mariana Islands
Norway
Oman
Pacific Ocean
Pakistan
Palau
Palmyra Atoll
Panama
Papua New Guinea
Paracel Islands
Paraguay
Peru
Philippines
Pitcairn Islands
Poland
Portugal
Puerto Rico
Qatar
Reunion
Romania
Rwanda
Saint Helena
Saint Kitts & Nevis
Saint Lucia
Saint Pierre & Miquelon
Saint Vincent & The Grenadines
San Marino
Sao Tome & Principe
Saudi Arabia
Senegal
Serbia & Montenegro
Seychelles
Sierra Leone
Singapore
Slovakia
Solomon Islands
Somalia
South Africa
Southern Ocean
Spain
Spratly Islands
Sri Lanka
Sudan
Suriname
Svalbard
Swaziland
Sweden
Switzerland
Syria
Taiwan
Tajikistan
Tanzania
Thailand
Togo
Tokelau
Tonga
Trinidad & Tobago
Tromelin Island
Tunisia
Turkey
Turkmenistan
Turks & Caicos Islands
Tuvalu
Uganda
Ukraine
United Arab Emirates
United Kingdom
United States
Uruguay
Uzbekistan
Vanuatu
Venezuela
Vietnam
Virgin Islands
Wake Island
Wallis & Futuna
West Bank
Western Sahara
World
Yemen
Zambia
Zimbabwe