St. Lucia - Balance of payments

St. Lucia has had a negative balance of trade every year since independence; this annual deficit has been counterbalanced in part by inflows from tourism and direct investment. However, the 11 September 2001 terrorist attacks on the US negatively impacted Saint Lucia's tourism industry.

The US Central Intelligence Agency (CIA) reports that in 2000 the purchasing power parity of Saint Lucia's exports was $68.3 million while imports totaled $319.4 million resulting in a trade deficit of $251.1 million.

The International Monetary Fund (IMF) reports that in 2000 Saint Lucia had exports of goods totaling $55 million and imports totaling $308 million. The services credit totaled $309 million and debit $118 million. The following table summarizes Saint Lucia's balance of payments as reported by the IMF for 2000 in millions of US dollars.

St. Lucia

Current Account -82
Balance on goods -253
Balance on services 190
Balance on income -37
Current transfers 18
Capital Account 18
Financial Account 66
Direct investment abroad
Direct investment in Saint Lucia 49
Portfolio investment assets -1
Portfolio investment liabilities 6
Other investment assets -15
Other investment liabilities 27
Net Errors and Omissions 7
Reserves and Related Items -8

User Contributions:

Comment about this article, ask questions, or add new information about this topic: