Economy
Economy—overview: The economy, one of the most prosperous in the Caribbean, is highly dependent on tourism, which generates an estimated 45% of the national income. In the mid-1980s, the government began offering offshore registration to companies wishing to incorporate in the islands, and incorporation fees now generate substantial revenues. An estimated 250,000 companies were on the offshore registry by yearend 1997. The adoption of a comprehensive insurance law in late 1994, which provides a blanket of confidentiality with regulated statutory gateways for investigation of criminal offenses, is expected to make the British Virgin Islands even more attractive to international business. Livestock raising is the most important agricultural activity; poor soils limit the islands' ability to meet domestic food requirements. Because of traditionally close links with the US Virgin Islands, the British Virgin Islands has used the dollar as its currency since 1959.
GDP: purchasing power parity—$183 million (1997 est.)
GDP—real growth rate: 4.7% (1997)
GDP—per capita: purchasing power parity?$10,000 (1997 est.)
GDP—composition by sector: agriculture: 1% industry: 1.4% services: 97.6% (1991–95 average)
Population below poverty line: NA%
Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices): 6.5% (1997)
Labor force: 4,911 (1980)
Labor force—by occupation: tourism NA%
Unemployment rate: 3% (1995)
Budget:
revenues: $121.5 million
expenditures: $115.5 million, including capital expenditures of $NA
(1997)
Industries: tourism, light industry, construction, rum, concrete
block, offshore financial center
Industrial production growth rate: 4% (1985)
Electricity—production: 42 million kWh (1996)
Electricity—production by source: fossil fuel: 100% hydro: 0% nuclear: 0% other: 0% (1996)
Electricity—consumption: 42 million kWh (1996)
Electricity—exports: 0 kWh (1996)
Electricity—imports: 0 kWh (1996)
Agriculture—products: fruits, vegetables; livestock, poultry; fish
Exports: $23.9 million (1996)
Exports—commodities: rum, fresh fish, fruits, animals; gravel, sand
Exports—partners: Virgin Islands (US), Puerto Rico, US
Imports: $121.5 million (1996)
Imports—commodities: building materials, automobiles, foodstuffs, machinery
Imports—partners: Virgin Islands (US), Puerto Rico, US
Debt—external: $34.8 million (1996)
Economic aid—recipient: $2.6 million (1995)
Currency: 1 United States dollar (US$) = 100 cents
Exchange rates: US currency is used
Fiscal year: 1 April—31 March
Communications
Telephones: 6,291 (1990 est.)
Telephone system: worldwide telephone service
domestic: NA
international: submarine cable to Bermuda
Radio broadcast stations: AM 1, FM 4, shortwave 0 (1998)
Radios: 9,000 (1992 est.)
Television broadcast stations: 1 (in addition, there is one cable company) (1997)
Televisions: 4,000 (1992 est.)
Transportation
Railways: 0 km
Highways: total: 113 km (1995 est.) paved: NA km unpaved: NA km
Ports and harbors: Road Town
Merchant marine: none
Airports: 3 (1998 est.)
Airports—with paved runways: total: 2 914 to 1,523 m: 1 under 914 m: 1 (1998 est.)
Airports—with unpaved runways:
total: 1
914 to 1,523 m: 1 (1998 est.)
Military
Military—note: defense is the responsibility of the UK
Transnational Issues
Disputes—international: none
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@Brunei———
Geography
Location: Southeastern Asia, bordering the South China Sea and
Malaysia
Geographic coordinates: 4 30 N, 114 40 E
Map references: Southeast Asia
Area:
total: 5,770 sq km
land: 5,270 sq km
water: 500 sq km
Area—comparative: slightly smaller than Delaware
Land boundaries: total: 381 km border countries: Malaysia 381 km
Coastline: 161 km
Maritime claims:
exclusive economic zone: 200 nm or to median line
territorial sea: 12 nm
Climate: tropical; hot, humid, rainy
Terrain: flat coastal plain rises to mountains in east; hilly lowland in west
Elevation extremes: lowest point: South China Sea 0 m highest point: Bukit Pagon 1,850 m
Natural resources: petroleum, natural gas, timber
Land use:
arable land: 1%
permanent crops: 1%
permanent pastures: 1%
forests and woodland: 85%
other: 12% (1993 est.)
Irrigated land: 10 sq km (1993 est.)
Natural hazards: typhoons, earthquakes, and severe flooding are
very rare
Environment—current issues: seasonal smoke/haze resulting from
forest fires in Indonesia
Environment—international agreements:
party to: Endangered Species, Law of the Sea, Ozone Layer
Protection, Ship Pollution
signed, but not ratified: none of the selected agreements
Geography—note: close to vital sea lanes through South China Sea
linking Indian and Pacific Oceans; two parts physically separated by
Malaysia; almost an enclave of Malaysia
People
Population: 322,982 (July 1999 est.)
Age structure:
0–14 years: 33% (male 54,154; female 51,766)
15–64 years: 63% (male 106,492; female 95,921)