assador Kingsley C.A. LAYNE
chancery: 1717 Massachusetts Avenue NW, Suite 102, Washington, DC
20036
telephone: [1] (202) 462-7806, 7846
FAX: [1] (202) 462-7807

US diplomatic representation: no official presence since the
Ambassador resides in Bridgetown (Barbados)

Flag: three vertical bands of blue (hoist side), gold (double width),
and green; the gold band bears three green diamonds arranged in a V
pattern

@Saint Vincent And The Grenadines:Economy

Overview: Agriculture, dominated by banana production, is the most
important sector of the economy. The services sector, based mostly on
a growing tourist industry, is also important. In 1993, economic
growth slowed to 1.4%, reflecting a sharp decline in agricultural
production caused by drought. The government has been relatively
unsuccessful at introducing new industries, and high unemployment
rates of 35%-40% continue.

National product: GDP - purchasing power parity - $235 million (1994
est.)

National product real growth rate: 2% (1994 est.)

National product per capita: $2,000 (1994 est.)

Inflation rate (consumer prices): 4% (1993 est.)

Unemployment rate: 35%-40% (1994 est.)

Budget:
revenues: $66.2
expenditures: $77.3 million, including capital expenditures of $23
million (1993 est.)

Exports: $57.1 million (f.o.b., 1993)
commodities: bananas, eddoes and dasheen (taro), arrowroot starch,
tennis racquets
partners: UK 54%, CARICOM 34%, US 10%

Imports: $134.6 million (f.o.b., 1993)
commodities: foodstuffs, machinery and equipment, chemicals and
fertilizers, minerals and fuels
partners: US 36%, CARICOM 21%, UK 18%, Trinidad and Tobago 13%

External debt: $74.9 million (1993)

Industrial production: NA

Electricity:
capacity: 16,600 kW
production: 50 million kWh
consumption per capita: 436 kWh (1993)

Industries: food processing, cement, furniture, clothing, starch

Agriculture: accounts for 14% of GDP and 60% of labor force; provides
bulk of exports; products - bananas, coconuts, sweet potatoes, spices;
small numbers of cattle, sheep, hogs, goats; small fish catch used
locally

Illicit drugs: transshipment point for South American drugs destined
for the US and Europe

Economic aid:
recipient: US commitments, including Ex-Im (FY70-87), $11 million;
Western (non-US) countries, ODA and OOF bilateral commitments
(1970-89), $81 million

Currency: 1 EC dollar (EC$) = 100 cents

Exch