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Economic Update for Antigua and Barbuda

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Overview

This update provides an overview of various economic and financial statistics for Antigua and Barbuda, as reported by the Eastern Caribbean Central Bank (ECCB).

Consumer Price Index (CPI)

• The CPI for January 2019 was set at 100.
• The average index for January to June 2021 was 96.41.

GDP Growth Rate

• The GDP growth rate for January to June 2020 was -10.14%.
• The forecast for 2021 was a contraction of 4.60%.

Inflation Rate

• The inflation rate for January to June 2021 was 5.64%, with an average annual rate of 3.51% from 2016 to 2020.

Tourism Statistics

• Total visitors to Antigua and Barbuda declined sharply in 2020 due to the COVID-19 pandemic:
  • 665,268 in 2019
  • 356,441 in 2020
• Cruise ship passengers also decreased significantly:
  • 504,235 in 2019
  • 259,426 in 2020

Visitor Expenditure

• Total visitor expenditure (EC$M) declined from 1,121.38 in 2019 to 586.20 in 2020.
• However, it increased slightly to 486.02 in the first half of 2021.

Note: These statistics are based on a specific report and may not reflect the current economic situation or the most up-to-date data.