St. Vincent and the Grenadines has had an unfavorable balance of trade since the 1950s. Income from tourism, investments, and development assistance makes up the balance. However, the tourism industry suffered as a result of the 11 September 2001 terrorist attacks on the US.
The US Central Intelligence Agency (CIA) reports that in 2000 the purchasing power parity of Saint Vincent and the Grenadines's exports was $53.7 million while imports totaled $185.6 million resulting in a trade deficit of $131.9 million.
The International Monetary Fund (IMF) reports that in 2000 Saint Vincent and the Grenadines had exports of goods totaling $52 million and imports totaling $143 million. The services credit totaled $126 million and debit $60 million. The following table summarizes Saint Vincent and the Grenadines's balance of payments as reported by the IMF for 2000 in millions of US dollars.
Current Account | -26 |
Balance on goods | -91 |
Balance on services | 66 |
Balance on income | -20 |
Current transfers | 19 |
Capital Account | 12 |
Financial Account | 14 |
Direct investment abroad | … |
Direct investment in Saint Vincent and the Grenadines 28 | |
Portfolio investment assets | -1 |
Portfolio investment liabilities | 2 |
Other investment assets | -9 |
Other investment liabilities | -6 |
Net Errors and Omissions | 12 |
Reserves and Related Items | -12 |
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