Montserrat Economic Statistics and Indicators

14, Aug 2020, EDT. Welcome to the Montserrat economic statistics pages provided by the beta version of EconomyWatch.com's Econ Stats database.

Economic Indicators For: Montserrat › 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: 5,215 ; note: an estimated 8,000 refugees left the island following the resumption of volcanic activity in July 1995; some have returned (July 2014 est.)
Area: total: 102 sq km ; land: 102 sq km ; water: 0 sq km
Natural Resources: NEGL
Capital: name: Plymouth; note - Plymouth was abandoned in 1997 because of volcanic activity; interim government buildings have been built at Brades Estate in the Carr's Bay/Little Bay vicinity at the northwest end of Montserrat ; geographic coordinates: 16 42 N, 62 13 W ; time difference: UTC-4 (1 hour ahead of Washington, DC, during Standard Time)

Severe volcanic activity, which began in July 1995, has put a damper on this small, open economy. A catastrophic eruption in June 1997 closed the airport and seaports, causing further economic and social dislocation. Two-thirds of the 12,000 inhabitants fled the island. Some began to return in 1998 but lack of housing limited the number. The agriculture sector continued to be affected by the lack of suitable land for farming and the destruction of crops. Prospects for the economy depend largely on developments in relation to the volcanic activity and on public sector construction activity. Half of the island remains uninhabitable. In January 2013, the EU announced the disbursement of a $55.2 million aid package to Montserrat in order to boost the country's economic recovery, with a specific focus on public finance management, public sector reform, and prudent economic management.

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