|
• GDP: US$112 million.
• Main exports: Fish, lobster and salt.
• Main imports: Fuels, foodstuffs, manufactures, chemicals, trucks and textiles.
• Main trade partners: North America (mainly USA) and the Caribbean Region (Caricom, St Martin/St Maarten and others).
|
|
Industries include fishing and fish processing, salt mining and boat manufacture (both traditional and contemporary crafts)
and construction. Most of the island’s agricultural produce is, however, for domestic consumption. The service sector, specifically
tourism and financial services, are responsible for the great majority of economic output. The financial sector has been damaged
by a series of scandals, which, along with growing competition from other Caribbean micro states, has put its future viability
in question. Moreover, in June 2000, Anguilla was identified by the Organization for Economic Cooperation and Development
(OECD) – the world’s 30 largest economies – as one of 35 ‘tax havens’ whose financial laws are believed to encourage large-scale
tax evasion and money laundering. It has since taken measures to meet OECD demands, thereby avoiding the threat of economic
sanctions. Tourism accounts for approximately 40 per cent of GDP. The Anguillan government receives development aid from the
UK and, as an overseas dependency, enjoys the status of an EU Associate Overseas Territory.
|
Overview 
