British Virgin Islands (UK Virgin Islands) Economic Statistics and Indicators

17, Jan 2021, EST. Welcome to the British Virgin Islands economic statistics pages provided by the beta version of EconomyWatch.com's Econ Stats database.

Economic Indicators For: British Virgin Islands (UK Virgin Islands) › Change country
National or Regional Currency: East Caribbean Dollar, CXD
Year of data: 2015 › Change year
Number of Indicators Listed:
Full Dataset: From Year 1980 to 2019
Date of Last Update: 17th March 2015
Population: 32,680 (July 2014 est.)
Area: total: 151 sq km ; land: 151 sq km ; water: 0 sq km ; note: comprised of 16 inhabited and more than 20 uninhabited islands; includes the islands of Tortola, Anegada, Virgin Gorda, Jost van Dyke
Natural Resources: NEGL
Capital: name: Road Town ; geographic coordinates: 18 25 N, 64 37 W ; time difference: UTC-4 (1 hour ahead of Washington, DC, during Standard Time)

The economy, one of the most stable and prosperous in the Caribbean, is highly dependent on tourism generating an estimated 45% of the national income. More than 934,000 tourists, mainly from the US, visited the islands in 2008. 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. Roughly 400,000 companies were on the offshore registry by yearend 2000. 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, made 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 US dollar as its currency since 1959.

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