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Economy of Antigua and Barbuda

Antigua and Barbuda’s economy is a small, open economy heavily reliant on tourism and financial services. Here are some key points about its economy:

Energy

  • Oil production: 0 bbl/d (2005 est.)
  • Oil imports: 4,556 bbl/d (724.3 m3/d) (2005)
  • Natural gas production: 0 cu m (2007 est.)
  • Natural gas consumption: 0 cu m (2007 est.)
  • Natural gas exports: 0 cu m (2006 est.)
  • Natural gas imports: 0 cu m (2006)
  • Proved natural gas reserves: 0 cu m (1 January 2006 est.)

Trade

  • Exports: $84.3 million (2007 est.)
    • Export commodities:
      • Petroleum products: 48%
      • Manufactures: 23%
      • Machinery and transport equipment: 17%
      • Food and live animals: 4%
      • Other: 8%
  • Export partners:
    • Spain: 34% (2006)
    • Germany: 20.7% (2006)
    • Italy: 7.7% (2006)
    • Singapore: 5.8% (2006)
    • UK: 4.9% (2006)
  • Imports: $522.8 million (2007 est.)
    • Import commodities:
      • Food and live animals
      • Machinery and transport equipment
      • Manufactures
      • Chemicals
      • Oil
  • Import partners:
    • US: 21.1% (2006)
    • China: 16.4% (2006)
    • Germany: 13.3% (2006)
    • Singapore: 12.7% (2006)
    • Spain: 6.5% (2006)

Economic Aid

  • Economic aid received: $7.23 million (2005)

Currency and Exchange Rates

  • Currency: East Caribbean dollar (EC$) = 100 cents
  • Exchange rate: fixed at 2.7 EC$/US$ since 1976

Fiscal Year

  • The fiscal year runs from April 1 to March 31