flag of the UK in the upper hoist-side quadrant and the Virgin
Islander coat of arms centered in the outer half of the flag; the coat of
arms depicts a woman flanked on either side by a vertical column of six oil
lamps above a scroll bearing the Latin word
VIGILATE (Be Watchful)
:British Virgin Islands Economy
Overview:
The economy, one of the most prosperous in the Caribbean area, is highly
dependent on the tourist industry, which generates about 21% of the national
income. In 1985 the government offered offshore registration to companies
wishing to incorporate in the islands, and, in consequence, incorporation
fees generated about $2 million in 1987. Livestock raising is the most
significant agricultural activity. The islands' crops, limited by poor
soils, are unable to meet food requirements.
GDP:
purchasing power equivalent - $130 million, per capita $10,600; real growth
rate 6.3% (1990)
Inflation rate (consumer prices):
2.5% (1990 est.)
Unemployment rate:
NEGL%
Budget:
revenues $51 million; expenditures $88 million, including capital
expenditures of $38 million (1991)
Exports:
$2.7 million (f.o.b., 1988)
commodities:
rum, fresh fish, gravel, sand, fruits, animals
partners:
Virgin Islands (US), Puerto Rico, US
Imports:
$11.5 million (c.i.f., 1988)
commodities:
building materials, automobiles, foodstuffs, machinery
partners:
Virgin Islands (US), Puerto Rico, US
External debt:
$4.5 million (1985)
Industrial production:
growth rate--4.0% (1985)
Electricity:
10,500 kW capacity; 43 million kWh produced, 3,510 kWh per capita (1990)
Industries:
tourism, light industry, construction, rum, concrete block, offshore
financial center
Agriculture:
livestock (including poultry), fish, fruit, vegetables
Economic aid:
NA
Currency:
US currency is used
Exchange rates:
US currency is used
Fiscal year:
1 April - 31 March
:British Virgin Islands Communications
Highways:
106 km motorable roads (1983)
Ports:
Road Town
Airports:
3 total, 3 usable; 2 with permanent-surface runways less than 1,220 m
Telecommunications:
3,000 telephones; worldwide external telephone service; submarine cable
communication links to Bermuda; broadcast stations - 1 AM, no FM, 1 TV
:British Virgin Islands Defense Forces
Note:
defense is the responsibility of th
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