St. Lucia - Income

The US Central Intelligence Agency (CIA) reports that in 2001 St. Lucia's gross domestic product (GDP) was estimated at $700 million. The per capita GDP was estimated at $4,400. The annual growth rate of GDP was estimated at -2.5%. The average inflation rate in 2001 was 3%. The CIA defines GDP as the value of all final goods and services produced within a nation in a given year and computed on the basis of purchasing power parity (PPP) rather than value as measured on the basis of the rate of exchange. It was estimated that agriculture accounted for 8% of GDP, industry 20%, and services 73%.

According to the United Nations, in 2000 remittances from citizens working abroad totaled $22.23 million. Worker remittances in 2001 totaled $23.12 million. Foreign aid receipts amounted to about $104 per capita and accounted for approximately 3% of the gross national income (GNI). Approximately 40% of household consumption was spent on food, 11% on fuel, 4% on health care, and 17% on education. The World Bank reports that in 2001 per capita household consumption (in constant 1995 US dollars) was $2,802. Household consumption includes expenditures of individuals, households, and nongovernmental organizations on goods and services, excluding purchases of dwellings. It was estimated that for the same period private consumption declined at an annual rate of 5%.

User Contributions:

Where does a dollar, placed in the hands of a merchant to buy goods, go after that? Does the money ever touch the island, or does the profit go overseas? What's life like for the average native?
i thought it was a lot less than 700 million for the per capita income

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