The economy is small and open. Therefore, the country is subject
to the vagaries of the economic conditions in countries from which
it imports goods and services. To some extent, the effect of imported
prices on the economy is moderated because the country's official
currency, the Eastern Caribbean dollar, enjoys a fixed exchange
rate with the US dollar (EC$2.70 = US$1.00).
The Eastern Caribbean dollar which Antigua and Barbuda shares with other countries
of the Leeward and Windward Islands is the strongest of the Caribbean currencies.
Tourism is the largest contributor to Gross Domestic Product.
Agriculture and fisheries have dropped from 40 per cent of GDP
in the 1960s to about 12 per cent. Manufacturing industries, which
thrived in the decade of the 1980s, are export oriented and produce
garments, paint, furniture, bedding and galvanized sheets.
Commission for Antigua and Barbuda
2nd floor, 45 Crawford Place, London W1H 4LP