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The island nation has been able to attract foreign business and investment, especially in its offshore banking and tourism industries, with a surge in foreign direct investment in 2006, attributed to the construction of several tourism projects. Although crops such as bananas, mangos, and avocados continue to be grown for export, tourism provides Saint Lucia's main source of income and the industry is the island's biggest employer. Tourism is the main source of foreign exchange, although tourism sector revenues declined with the global economic downturn as US and European travel dropped in 2009. The manufacturing sector is the most diverse in the Eastern Caribbean area, and the government is trying to revitalize the banana industry, although recent hurricanes have caused exports to contract. Saint Lucia is vulnerable to a variety of external shocks including volatile tourism receipts, natural disasters, and dependence on foreign oil. The public debt-to-GDP ratio is about 70% and high debt servicing obligations constrain the KING administration's ability to respond to adverse external shocks. Economic fundamentals remain solid, even though unemployment needs to be reduced.
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$1.745 billion (2009 est.)
country comparison to the world: 186
$1.841 billion (2008 est.)
$1.828 billion (2007 est.)
note:
data are in 2009 US dollars
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$973 million (2009 est.)
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-5.2% (2009 est.)
country comparison to the world: 188
0.7% (2008 est.)
1.5% (2007 est.)
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$10,900 (2009 est.)
country comparison to the world: 99
$11,500 (2008 est.)
$11,500 (2007 est.)
note:
data are in 2009 US dollars
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agriculture: 5%
industry:
15%
services:
80% (2005 est.)
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79,700 (2007)
country comparison to the world: 183
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agriculture: 21.7%
industry:
24.7%
services:
53.6% (2002 est.)
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20% (2003 est.)
country comparison to the world: 166
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NA%
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lowest 10%: NA%
highest 10%:
NA%
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revenues: $141.2 million
expenditures:
$146.7 million (2000 est.)
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1.9% (2007 est.)
country comparison to the world: 68
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6.5% (31 December 2008)
country comparison to the world: 61
6.5% (31 December 2007)
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10.08% (31 December 2008)
country comparison to the world: 110
8.34% (31 December 2007)
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$261.3 million (31 December 2008)
country comparison to the world: 140
$264.7 million (31 December 2007)
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$800.1 million (31 December 2008)
country comparison to the world: 124
$720.9 million (31 December 2007)
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$1.378 billion (31 December 2008)
country comparison to the world: 105
$1.217 billion (31 December 2007)
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bananas, coconuts, vegetables, citrus, root crops, cocoa
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clothing, assembly of electronic components, beverages, corrugated cardboard boxes, tourism; lime processing, coconut processing
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NA%
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325 million kWh (2007 est.)
country comparison to the world: 166
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302.2 million kWh (2007 est.)
country comparison to the world: 167
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0 kWh (2008 est.)
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0 kWh (2008 est.)
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0 bbl/day (2009 est.)
country comparison to the world: 137
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3,000 bbl/day (2009 est.)
country comparison to the world: 179
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0 bbl/day (2007 est.)
country comparison to the world: 179
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2,747 bbl/day (2007 est.)
country comparison to the world: 171
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0 bbl (1 January 2009 est.)
country comparison to the world: 130
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0 cu m (2008 est.)
country comparison to the world: 137
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0 cu m (2008 est.)
country comparison to the world: 157
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0 cu m (2008 est.)
country comparison to the world: 135
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0 cu m (2008 est.)
country comparison to the world: 140
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0 cu m (1 January 2009 est.)
country comparison to the world: 140
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-$199 million (2007 est.)
country comparison to the world: 90
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$288 million (2006)
country comparison to the world: 175
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bananas 41%, clothing, cocoa, vegetables, fruits, coconut oil
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Spain 29.41%, UK 15.28%, South Korea 10.54%, US 9.75%, India 9.52% (2009)
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$791 million (2006)
country comparison to the world: 178
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food 23%, manufactured goods 21%, machinery and transportation equipment 19%, chemicals, fuels
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Brazil 83.44%, US 4.67%, Trinidad and Tobago 4.56% (2009)
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$257 million (2004)
country comparison to the world: 170
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East Caribbean dollars (XCD) per US dollar - 2.7 (2007), 2.7 (2006), 2.7 (2005), 2.7 (2004), 2.7 (2003)
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