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Saint Vincent and the Grenadines

Last updated: 2026-03-28 (today)

Budget

note

note: central government revenues and expenses (excluding grants/extrabudgetary units/social security funds) converted to US dollars at average official exchange rate for year indicated

revenues

$226.404 million (2017 est.)

expenditures

$208.744 million (2017 est.)

Exports

note

note: balance of payments - exports of goods and services in current dollars

Exports 2022

$278.292 million (2022 est.)

Exports 2023

$345.098 million (2023 est.)

Exports 2024

$425.182 million (2024 est.)

Imports

note

note: balance of payments - imports of goods and services in current dollars

Imports 2022

$540.833 million (2022 est.)

Imports 2023

$588.865 million (2023 est.)

Imports 2024

$641.179 million (2024 est.)

Industries

tourism; food processing, cement, furniture, clothing, starch

Labor force

52,100 (2024 est.)

note: number of people ages 15 or older who are employed or seeking work

Public debt

Public debt 2016

82.8% of GDP (2016 est.)

Remittances

note

note: personal transfers and compensation between resident and non-resident individuals/households/entities

Remittances 2022

9% of GDP (2022 est.)

Remittances 2023

8.5% of GDP (2023 est.)

Remittances 2024

8.2% of GDP (2024 est.)

Exchange rates

Currency

East Caribbean dollars (XCD) per US dollar -

Exchange rates 2020

2.7 (2020 est.)

Exchange rates 2021

2.7 (2021 est.)

Exchange rates 2022

2.7 (2022 est.)

Exchange rates 2023

2.7 (2023 est.)

Exchange rates 2024

2.7 (2024 est.)

Debt - external

note

note: present value of external debt in current US dollars

Debt - external 2023

$456.971 million (2023 est.)

Economic overview

upper middle-income Caribbean island economy; key agriculture and tourism sectors; environmentally fragile; diversifying economy across services, science and knowledge, and creative industries; CARICOM member and US Caribbean Basin Initiative beneficiary

Unemployment rate

note

note: % of labor force seeking employment

Unemployment rate 2022

19.5% (2022 est.)

Unemployment rate 2023

18.6% (2023 est.)

Unemployment rate 2024

18.1% (2024 est.)

Exports - partners

Croatia 16%, Barbados 14%, USA 10%, St. Lucia 10%, St. Kitts & Nevis 8% (2023)

note: top five export partners based on percentage share of exports

Imports - partners

USA 37%, Italy 7%, Trinidad & Tobago 7%, China 6%, UK 6% (2023)

note: top five import partners based on percentage share of imports

Real GDP per capita

note

note: data in 2021 dollars

Real GDP per capita 2022

$16,800 (2022 est.)

Real GDP per capita 2023

$17,900 (2023 est.)

Real GDP per capita 2024

$18,700 (2024 est.)

Real GDP growth rate

note

note: annual GDP % growth based on constant local currency

Real GDP growth rate 2022

3.1% (2022 est.)

Real GDP growth rate 2023

5.3% (2023 est.)

Real GDP growth rate 2024

4.1% (2024 est.)

Agricultural products

bananas, root vegetables, plantains, spices, coconuts, fruits, apples, vegetables, mangoes/guavas, sweet potatoes (2023)

note: top ten agricultural products based on tonnage

Exports - commodities

ships, wheat flours, animal food, shellfish, construction vehicles (2023)

note: top five export commodities based on value in dollars

Imports - commodities

ships, refined petroleum, wheat, coal, poultry (2023)

note: top five import commodities based on value in dollars

Current account balance

note

note: balance of payments - net trade and primary/secondary income in current dollars

Current account balance 2022

-$199.727 million (2022 est.)

Current account balance 2023

-$180.43 million (2023 est.)

Current account balance 2024

-$156.589 million (2024 est.)

Taxes and other revenues

23.8% (of GDP) (2017 est.)

note: central government tax revenue as a % of GDP

GDP (official exchange rate)

$1.157 billion (2024 est.)

note: data in current dollars at official exchange rate

Inflation rate (consumer prices)

note

note: annual % change based on consumer prices

Inflation rate (consumer prices) 2022

5.7% (2022 est.)

Inflation rate (consumer prices) 2023

4.6% (2023 est.)

Inflation rate (consumer prices) 2024

3.6% (2024 est.)

Industrial production growth rate

7.3% (2024 est.)

note: annual % change in industrial value added based on constant local currency

Real GDP (purchasing power parity)

note

note: data in 2021 dollars

Real GDP (purchasing power parity) 2022

$1.718 billion (2022 est.)

Real GDP (purchasing power parity) 2023

$1.809 billion (2023 est.)

Real GDP (purchasing power parity) 2024

$1.883 billion (2024 est.)

Youth unemployment rate (ages 15-24)

male

41.4% (2024 est.)

note

note: % of labor force ages 15-24 seeking employment

total

41.4% (2024 est.)

female

41.4% (2024 est.)

Reserves of foreign exchange and gold

note

note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars

Reserves of foreign exchange and gold 2022

$320.193 million (2022 est.)

Reserves of foreign exchange and gold 2023

$280.564 million (2023 est.)

Reserves of foreign exchange and gold 2024

$316.824 million (2024 est.)

GDP - composition, by sector of origin

note

note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data

industry

15.4% (2024 est.)

services

66.4% (2024 est.)

agriculture

3.5% (2024 est.)