National economy of Virgin Islands British - industries, GDP and prosperity level
To date, the economy of the British Virgin Islands has been recognized as the most stable and prosperous among all countries that are part of the Caribbean. The main sectors that make a significant contribution to GDP are the tourism and financial sectors. The contribution of the tourism sector to national income is about 45%, and the one of the financial sector is 41%. The rest of the earnings come from agriculture and food industry. Most of the local population of the country is engaged in the tourism sector. An excellent asset for the development of this sphere of activity was the location of the islands and the presence of various cultural, historical and natural monuments on their territory.
Contrary to the American counterpart, the British Virgin Islands are less populated and less known among travelers. These islands are not cheap, but …
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British Virgin Islands are dominated by a tropical rainforest climate. Trade winds have a huge influence on the formation of climatic conditions on …
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The main products that are exported are rum, fresh seafood and fish, and a variety of fruits. Due to the fact that most small islands from the archipelago are uninhabited, gravel and sand are extracted there and exported in large quantities abroad. The main export partners of the Virgin Islands are the United States of America and Puerto Rico. Import mainly includes building materials, food products, cars, and mechanized equipment. The main importers of the British Virgin Islands are the US Virgin Islands, the United States of America and Puerto Rico. To date, the country’s foreign debt is about $35 million. The main foreign exchange donor is America. GDP is about 313 million dollars, while GDP per capita is more than 16,000 dollars from GDP. The unemployment rate according to last year’s data is less than 2% of the number of the able-bodied population. The inflation rate is 4%.
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