Saint Vincent and the Grenadines

Description of Saint Vincent and the Grenadines

Saint Vincent and the Grenadines, a stunning Caribbean nation known for its lush landscapes and crystal-clear waters, holds a unique position in the region both geographically and economically. With a population known for its warmth and friendliness, the country's economy is primarily driven by agriculture, tourism, and the offshore financial services sector. As we delve into the macroeconomic factors influencing Saint Vincent and the Grenadines, we can gain valuable insights into how this nation navigates the challenges and opportunities on the global stage.

Population And Age Structure

Population, total: Saint Vincent and the Grenadines has a population of 104,632, which is significantly below the average population of 40,097,746. The country ranks 181 out of 194 countries in terms of total population.

Population ages 0-14 (% of total population): With 22.28% of the population aged 0-14, Saint Vincent and the Grenadines is below the average of 27.34%. In this category, the country ranks 116 out of 194.

Population ages 0-14, total: The total number of individuals aged 0-14 in Saint Vincent and the Grenadines is 23,310, well below the average of 10,327,379. The country ranks 180 out of 194 in this age group.

Population ages 15-64 (% of total population): Saint Vincent and the Grenadines has 67.05% of its population aged 15-64, above the average of 63.44%. This places the country at the 52nd rank out of 194 countries.

Population ages 15-64, total: The total number of individuals aged 15-64 in Saint Vincent and the Grenadines is 70,152, significantly below the average of 26,003,407. The country ranks 180 out of 194 in this age category.

Population ages 65 and above (% of total population): 10.67% of the population in Saint Vincent and the Grenadines is aged 65 and above, which is higher than the average of 9.22%. The country is ranked 66 out of 194 in this demographic group.

Population ages 65 and above, total: There are 11,169 individuals aged 65 and above in Saint Vincent and the Grenadines, much lower than the average of 3,766,959. The country ranks 178 out of 194 in this age bracket.

Summary

Saint Vincent and the Grenadines has a relatively small population of 104,632, with a higher proportion of individuals aged 15-64 compared to the global average. However, the country has significantly fewer children (0-14 years) and elderly (65 and above) individuals compared to the average population worldwide. These demographic indicators are crucial for policymakers as they highlight the country's age distribution, workforce potential, healthcare needs, and future social security requirements.

Population Miscellaneous

Rural population: With a value of 49,144, Saint Vincent and the Grenadines' rural population is significantly below the average of 18,044,041.29, ranking 177th out of 190 countries in the dataset.

Rural population (% of total population): The country's percentage of rural population at 46.968% is higher than the average of 41.16%, placing it 73rd out of 190 countries.

Urban population: Saint Vincent and the Grenadines' urban population of 55,488 is notably lower than the average of 22,425,747.38, ranking 177th out of 194 countries.

Urban population (% of total population): With 53.032% of the population residing in urban areas, the country falls below the average of 59.69%, placing it 122nd out of 194 countries.

Age dependency ratio (% of working-age population): The country's ratio of 49.15% is lower than the average of 59.22%, positioning it at 143rd out of 194 countries.

Birth rate, crude (per 1,000 people): At 13.071 births per 1,000 people, Saint Vincent and the Grenadines is below the average of 19.38, ranking 119th out of 192 countries.

Death rate, crude (per 1,000 people): With a rate of 11.038 deaths per 1,000 people, the country exceeds the average of 8.21, placing it 31st out of 192 countries.

Fertility rate, total (births per woman): The fertility rate of 1.814 falls below the average of 2.60, positioning Saint Vincent and the Grenadines at 118th out of 190 countries.

Summary

Saint Vincent and the Grenadines exhibits a lower rural population and urban population compared to global averages, with a higher percentage of its population residing in rural areas. The country also has a lower age dependency ratio and fertility rate but a higher crude death rate than the global average. These indicators are important as they reflect the demographic structure, urbanization level, and societal health aspects of Saint Vincent and the Grenadines, providing insights into its development, labor force dynamics, and potential healthcare challenges.

Natural Resources

- Forest area (sq. km): Saint Vincent and the Grenadines has a forest area of 285.4 sq. km, which is significantly below the average of 211606.11 sq. km, ranking 169 out of 191 countries in the dataset. - Land area (sq. km): The land area in Saint Vincent and the Grenadines is 390 sq. km, far below the average of 665166.51 sq. km, ranking 183 out of 194 countries. - Surface area (sq. km): With a surface area of 390 sq. km, Saint Vincent and the Grenadines falls well below the average of 689779.56 sq. km, ranking 183 out of 194 countries. - Arable land (hectares): The country has 2000 hectares of arable land, significantly lower than the average of 7329543.16 hectares, ranking 182 out of 190 countries. - Land under cereal production (hectares): Saint Vincent and the Grenadines utilizes 29 hectares of land for cereal production, notably lower than the average of 4206011.63 hectares, ranking 172 out of 174 countries. - Average precipitation in depth (mm per year): The country receives an average of 1583 mm of precipitation annually, higher than the average of 1157.83 mm, ranking 51 out of 178 countries. - Renewable internal freshwater resources, total (billion cubic meters): Saint Vincent and the Grenadines has 0.1 billion cubic meters of renewable internal freshwater resources, significantly below the average of 240.41 billion cubic meters, ranking 171 out of 178 countries.

Summary

Saint Vincent and the Grenadines demonstrates a stark contrast to global averages in key environmental indicators, such as forest area, land area, and arable land. Its limited land resources and lower agricultural capacity, as seen in the arable land and land under cereal production statistics, may present challenges for food security and economic development. Moreover, the country's lower renewable internal freshwater resources could impact its ability to sustainably meet water needs for agriculture and population growth in the long term.

Resource Rents

1. Total natural resources rents (% of GDP): In Saint Vincent and the Grenadines, the value of this attribute is 0.03%, significantly below the average of 4.63%. The country is ranked 162 out of 175 countries in this dataset.

2. Forest rents (% of GDP): Saint Vincent and the Grenadines also has a low value for this attribute at 0.03%, considerably lower than the average of 1.53%. The country is ranked 136 out of 174 countries included in the data.

Summary

Saint Vincent and the Grenadines has notably low values in both total natural resources rents and forest rents as a percentage of GDP compared to the global averages. These indicators reflect the limited contribution of natural resources to the country's economic output, potentially indicating a reliance on other sectors for GDP growth. This could suggest a need for diversification strategies to reduce dependence on natural resource-based activities and enhance economic resilience.

Commodities

Regarding Cereal production, Saint Vincent and the Grenadines produced 848 metric tons, significantly lower than the average of 17,249,945.93 metric tons, ranking 164th out of 174 countries included in the data.

For Aquaculture production, the country's output of 13.07 metric tons is notably lower than the average of 679,642.92 metric tons. Saint Vincent and the Grenadines ranks 166th out of 180 countries for this metric.

Saint Vincent and the Grenadines contributed 2127.52 metric tons to Capture fisheries production, falling far below the average of 467,453.06 metric tons. This places the country at the 156th position out of 190 countries.

In terms of Total fisheries production, the nation's 2140.59 metric tons is substantially less than the average of 1,153,914.85 metric tons. Saint Vincent and the Grenadines is ranked 168th out of 182 countries included.

Regarding Fertilizer consumption, Saint Vincent and the Grenadines uses 129.975 kilograms per hectare of arable land. This is lower than the average of 159.04 kilograms per hectare. The country ranks 76th out of 187 countries in this aspect.

Summary

Saint Vincent and the Grenadines lags behind global averages in key macroeconomic indicators such as cereal production, aquaculture production, capture fisheries production, and total fisheries production. Particularly concerning is its lower-than-average fertilizer consumption per hectare of arable land, ranking 76th out of 187 countries. This indicates potential challenges in achieving optimal agricultural productivity and food security, highlighting the need for strategic policies to improve agricultural practices and overall economic development in the country.

Intellectual Property

1. Patent applications, nonresidents: Saint Vincent and the Grenadines has a below-average number of patent applications by nonresidents, ranking 117th out of 129 countries in the dataset.

2. Trademark applications, nonresident, by count: The country shows fewer trademark applications by nonresidents compared to the average, ranking 122nd out of 130 countries.

3. Trademark applications, resident, by count: Saint Vincent and the Grenadines has significantly fewer resident trademark applications compared to the average, ranking 123rd out of 129 countries.

4. Scientific and technical journal articles: The country's output of scientific and technical journal articles is below average, ranking 181st out of 192 countries included in the dataset.

5. Charges for the use of intellectual property, payments: Saint Vincent and the Grenadines makes lower payments for intellectual property use compared to the average, ranking 120th out of 143 countries.

Summary

Saint Vincent and the Grenadines exhibits a below-average performance in key macroeconomic indicators related to intellectual property, innovation, and scientific output. The country ranks low in patent applications, trademark applications (both by residents and nonresidents), scientific and technical journal articles, and payments for intellectual property use. These indicators reflect a potential lack of innovation, research and development activities, and investment in intellectual property within the country. This could hinder the country's competitiveness, ability to attract foreign direct investment, and its overall economic growth in the global knowledge economy.

Broad Economy Attributes

For GDP (current US$), Saint Vincent and the Grenadines' value is 869111111.11, which is below the average of 442870224838.68. The country ranks 179 out of 189 countries included in the data.

Regarding GDP, PPP (current international $), Saint Vincent and the Grenadines' value is 1512746323.59, below the average of 734141122350.78. The country holds the 171st rank out of 181 countries in the dataset.

When it comes to GDP per capita (current US$), Saint Vincent and the Grenadines' value stands at 8306.36, under the average of 15462.11. The country is ranked 76 out of 190 countries.

For GDP per capita, PPP (current international $), Saint Vincent and the Grenadines' value is 14457.78, below the average of 21251.89. The country ranks 86 out of 181 nations in the dataset.

In terms of GNI (current US$), Saint Vincent and the Grenadines has a value of 862348148.15, below the average of 452040815370.70. The country holds the 176th rank out of 185 countries.

Looking at GNI, PPP (current international $), Saint Vincent and the Grenadines' value is 1500974931.85, below the average of 730698223823.47. The country ranks 171 out of 181 countries in the data set.

For GNI per capita, PPP (current international $), the country's value of 14350 is below the average of 20615.75. Saint Vincent and the Grenadines holds the 81st rank out of 181 countries included in the analysis.

Summary

Saint Vincent and the Grenadines lags behind the global average in key macroeconomic indicators such as GDP, GDP per capita, and GNI. This places the country in the lower ranks compared to other nations, signaling a need for potential economic growth and development initiatives to improve its overall economic standing and standard of living for its citizens.

Broad Value Added

- Gross value added at basic prices (GVA) in Saint Vincent and the Grenadines is $734,396,296.30. This value is significantly below the attribute average of $360,070,943,595.12. Saint Vincent and the Grenadines is ranked 170th out of 176 countries in this category.

- Agriculture, forestry, and fishing value added (% of GDP) is 8.60% in Saint Vincent and the Grenadines, lower than the attribute average of 10.86%. The country ranks 82nd out of 182 countries in this aspect.

- Agriculture, forestry, and fishing value added in current US dollars for Saint Vincent and the Grenadines is $74,722,222.22, significantly lower than the average of $19,924,732,828.07. Saint Vincent and the Grenadines ranks 171st out of 182 countries.

- Services value added (% of GDP) is 63.30% in Saint Vincent and the Grenadines, which is above the attribute average of 56.72%. The country is ranked 50th out of 183 countries.

- Services value added in current US dollars for Saint Vincent and the Grenadines is $550,185,185.19, well below the average of $295,837,711,130.69. In this category, the country ranks 177th out of 183 countries.

- Industry (including construction) value added in current US dollars is $109,481,481.48 for Saint Vincent and the Grenadines. This is significantly lower than the average of $118,421,095,413.50. The country ranks 175th out of 183 countries.

Summary

Saint Vincent and the Grenadines shows a below-average performance in key macroeconomic indicators such as GVA, Agriculture, Forestry, and Fishing value added, Services value added, and Industry value added when compared to global averages. These statistics highlight the country's challenges in diversifying its economy and increasing its productivity in various sectors. Addressing these gaps is crucial for Saint Vincent and the Grenadines to improve its economic competitiveness, attract investments, and achieve sustainable economic growth and development.

Manufacturing Value Added

For Manufacturing, value added (current US$), Saint Vincent and the Grenadines has a value of 32,185,185.19 which is significantly below the attribute average of 76,207,179,589.66. This places Saint Vincent and the Grenadines at a rank of 167 out of 173 countries in the dataset.

When it comes to Manufacturing, value added (% of GDP), Saint Vincent and the Grenadines contributes 3.70% of its GDP, much lower than the attribute average of 11.90%. This places Saint Vincent and the Grenadines at a rank of 156 out of 173 countries in the dataset.

Summary

Saint Vincent and the Grenadines lags behind other countries in terms of Manufacturing value added in both absolute terms and as a percentage of its GDP. This could indicate a relatively smaller industrial sector compared to other nations, potentially affecting its ability to drive economic growth, create employment opportunities, and compete on a global scale.

Money

Analysis of key macroeconomic attributes for Saint Vincent and the Grenadines:

Summary

Saint Vincent and the Grenadines exhibits below-average performance in key macroeconomic indicators such as inflation rates, broad money growth, and broad money as a percentage of GDP. The country ranks lower than average in these aspects compared to a global dataset. These indicators are crucial as they reflect the country's economic stability, financial health, and monetary policy effectiveness, highlighting areas that may require attention for sustainable economic development.

Investment

Foreign direct investment, net (BoP, current US$): Despite Saint Vincent and the Grenadines having a value of -63460938.77, which is below the average of -1615235980.51, the country ranks 55 out of 169 countries in this attribute.

Foreign direct investment, net inflows (BoP, current US$): Saint Vincent and the Grenadines' value of 65244280.38 is significantly below the average of 5749271080.15. The country ranks 133 out of 182 countries for this indicator.

Foreign direct investment, net inflows (% of GDP): With a value of 7.51%, above the average of 2.61%, Saint Vincent and the Grenadines ranks 21 out of 178 countries in this metric.

Foreign direct investment, net outflows (BoP, current US$): The country's value of 1783341.61 is far below the average of 5707991116.07. It holds the 107th position out of 156 countries.

Foreign direct investment, net outflows (% of GDP): Saint Vincent and the Grenadines' value of 0.21% is below the average of 1.00%. The country ranks 82 out of 155 nations in this category.

Portfolio Investment, net (BoP, current US$): Despite having 19891001.80, which is well below the average of 679559169.57, the country ranks 69 out of 159 countries in this attribute.

Portfolio investment, bonds (PPG + PNG) (NFL, current US$): Saint Vincent and the Grenadines' value of -3928000 is considerably below the average of 4134263915.25. The country is ranked 39 out of 59 countries for this attribute.

Portfolio equity, net inflows (BoP, current US$): With a value of 5109.84, significantly below the average of 9197145994.70, Saint Vincent and the Grenadines is positioned at 64 out of 125 countries in this metric.

Summary

Saint Vincent and the Grenadines has mixed performance in key macroeconomic indicators related to foreign direct investment and portfolio investment. The country tends to have lower values compared to the global averages in most categories, indicating room for potential growth in attracting foreign investments. These indicators are crucial as they reflect the country's ability to attract capital from abroad, which can stimulate economic development, create job opportunities, and contribute to overall growth and stability.

Debt

1. Total debt service (% of GNI): Saint Vincent and the Grenadines has a total debt service of 3.85% of GNI, which is below the average of 5.98%. The country ranks 63rd out of 120 countries included in the data.

2. Public and publicly guaranteed debt service (% of GNI): The country's public and publicly guaranteed debt service is at 3.67% of GNI, higher than the average of 2.84%. Saint Vincent and the Grenadines ranks 35th out of 120 countries.

3. External debt stocks (% of GNI): With external debt stocks at 48.07% of GNI, Saint Vincent and the Grenadines is below the average of 65.42%. The country ranks 68th out of 120 countries.

4. Debt service on external debt, total (TDS, current US$): The total debt service on external debt is $33,213,220.30, significantly lower than the average of $9,811,195,839.23. The country ranks 111th out of 123 countries.

5. Debt service on external debt, public and publicly guaranteed (PPG) (TDS, current US$): Saint Vincent and the Grenadines pays $31,675,274.10 on debt service, below the average of $3,310,612,057.60. The country ranks 107th out of 123 countries.

6. External debt stocks, public and publicly guaranteed (PPG) (DOD, current US$): The external debt stocks for public and publicly guaranteed debt amount to $383,263,611.30, lower than the average of $28,695,879,144.98. Saint Vincent and the Grenadines ranks 117th out of 123 countries.

7. External debt stocks, total (DOD, current US$): With total external debt stocks of $414,557,764.50, the country is well below the average of $73,845,530,111.82. Saint Vincent and the Grenadines ranks 119th out of 123 countries.

Summary

Saint Vincent and the Grenadines maintains a relatively low level of debt burden compared to the global average across various indicators such as total debt service, external debt stocks, and debt service on external debt. This indicates the country's cautious approach to managing its debt obligations, which is crucial for maintaining financial stability, investor confidence, and sustainable economic growth in the long term.

Broad Trade Attributes

For Merchandise trade (% of GDP), Saint Vincent and the Grenadines has a value of 43.26%, which is below the attribute average of 60.01%. This places Saint Vincent and the Grenadines at rank 119 out of 186 countries in the dataset.

Regarding Trade in services (% of GDP), the country has a value of 25.13%, slightly above the attribute average of 24.63%. Saint Vincent and the Grenadines holds the 46th position out of 171 countries in this category.

Summary

Saint Vincent and the Grenadines showcases a notable performance in merchandise trade with a percentage of 43.26%, placing it below the global average. However, the country excels in trade in services with a percentage of 25.13%, surpassing the average. These indicators are crucial as they reflect the country's balance of trade, economic openness, and potential for diversification, indicating its ability to attract foreign investments and promote economic growth.

Net Trade

1. Current account balance (BoP, current US$): Saint Vincent and the Grenadines has a current account balance of -136,289,669.60, which is significantly below the average of 1,443,864,831.49. The country ranks 79th out of 170 countries in this attribute.

2. Current account balance (% of GDP): The current account balance as a percentage of GDP for Saint Vincent and the Grenadines is -15.68%, much lower than the average of -2.36%. The country ranks 157th out of 170 countries in this aspect.

3. Net trade in goods and services (BoP, current US$): The country has a net trade value of -190,409,127.27, well below the average of 2,604,730,003.57. Saint Vincent and the Grenadines ranks 77th out of 171 countries.

4. Net primary income (BoP, current US$): Saint Vincent and the Grenadines has a net primary income of -6,764,795.97, higher than the average of -903,807,529.74. The country ranks 48th out of 170 countries in this aspect.

5. Net secondary income (BoP, current US$): The country's net secondary income is 60,884,253.63, which is above the average of -269,227,340.40. Saint Vincent and the Grenadines ranks 110th out of 170 countries.

6. Net trade in goods (BoP, current US$): The net trade in goods for Saint Vincent and the Grenadines is -224,812,635.11, considerably lower than the average of 1,302,831,005.68. The country ranks 80th out of 171 countries in this attribute.

7. Net capital account (BoP, current US$): The net capital account for the country is 4,858,402.93, significantly below the average of 136,543,824.05. Saint Vincent and the Grenadines ranks 112th out of 159 countries.

8. Net financial account (BoP, current US$): Saint Vincent and the Grenadines has a net financial account value of -66,530,928.73, above the average of -469,840,994.63. The country ranks 78th out of 170 countries in this attribute.

Summary

Saint Vincent and the Grenadines exhibits a negative current account balance, with both absolute and relative values below global averages. The country also shows deficits in net trade, primary income, and trade in goods, while performing better in net secondary income. These statistics indicate a dependency on external assistance and investment, highlighting potential vulnerabilities in the country's economic structure and the need for strategic policies to improve trade balances and overall financial sustainability.

Broad Export Attributes

1. Exports of goods, services and primary income (BoP, current US$): Saint Vincent and the Grenadines has a value of 190,151,063.32, which is significantly below the attribute average of 146,238,908,936.30. The country is ranked 161 out of 170 countries in terms of this attribute.

2. Exports of goods and services (BoP, current US$): The value for Saint Vincent and the Grenadines is 184,626,819.24, also notably lower than the attribute average of 122,938,540,059.78. The country holds the 160th rank out of 170 countries.

3. Goods exports (BoP, current US$): Saint Vincent and the Grenadines recorded goods exports of 58,206,132.91, which is substantially under the attribute average of 93,310,581,697.39. It ranks 161 out of 171 countries for this metric.

4. International tourism, receipts (% of total exports): This country has a percentage of 46.04, significantly higher than the attribute average of 9.74. Saint Vincent and the Grenadines ranks 7th out of 120 countries in this aspect.

Summary

Saint Vincent and the Grenadines exhibits below-average performance in key macroeconomic indicators such as exports of goods, services, primary income, and goods exports. However, the country excels in international tourism receipts, with a percentage well above the average. These indicators are crucial as they reflect the country's economic openness, trade competitiveness, and reliance on tourism for foreign exchange earnings.

Merchandise Exports

Merchandise exports (current US$): Saint Vincent and the Grenadines has a merchandise export value of 55,000,000 USD. This is significantly below the average of 89,542,711,229.95 USD, ranking the country 174th out of 187 countries in the dataset.

Agricultural raw materials exports (% of merchandise exports): Saint Vincent and the Grenadines contributes 1.39% of its merchandise exports to agricultural raw materials, lower than the average of 2.97%. This places the country in the 66th position out of 151 countries.

Food exports (% of merchandise exports): The country's food exports constitute 86.19% of its merchandise exports, significantly higher than the average of 24.06%. Saint Vincent and the Grenadines ranks 4th out of 152 countries in this aspect.

Fuel exports (% of merchandise exports): Saint Vincent and the Grenadines has a minimal contribution of 0.0006% of its merchandise exports from fuel, far below the average of 13.70%. This places the country in the 144th position out of 147 countries.

Ores and metals exports (% of merchandise exports): The country's ores and metals exports make up 0.51% of its total merchandise exports, which is lower than the average of 9.10%. Saint Vincent and the Grenadines ranks 135th out of 152 countries in this category.

Merchandise exports by the reporting economy, residual (% of total merchandise exports): Saint Vincent and the Grenadines contributes 1.49% to residual merchandise exports, below the average of 3.20%. The country is ranked 50th out of 166 countries based on this metric.

Summary

Saint Vincent and the Grenadines has a relatively low total merchandise export value compared to the global average, ranking 174th out of 187 countries. However, the country excels in food exports, with 86.19% of its merchandise exports coming from this sector, ranking 4th globally. This specialization in food exports could signify a comparative advantage in agriculture, potentially leading to economic growth and stability in the long term.

Technology Exports

Manufactures exports (% of merchandise exports): Saint Vincent and the Grenadines has a value of 11.91%, which is below the attribute average of 42.62%. This places Saint Vincent and the Grenadines at a rank of 118 out of 152 countries in the dataset.

Summary

Saint Vincent and the Grenadines has a relatively low percentage of manufactures exports compared to the average of all countries in the dataset. This indicates a potential dependency on other sectors for export revenue and suggests room for growth in the manufacturing industry to diversify the economy and increase global competitiveness.

Service Exports

Saint Vincent and the Grenadines has a service exports (BoP, current US$) value of 126,420,686.33, which is significantly below the attribute average of $28,917,292,503.82. The country ranks 150th out of 171 countries in this dataset.

For ICT service exports (BoP, current US$), Saint Vincent and the Grenadines has a value of 5,138,677.48, also well below the average of $4,578,501,153.77. The country ranks 148th out of 166 countries.

Saint Vincent and the Grenadines' ICT service exports (% of service exports, BoP) stands at 4.06%, lower than the average of 11.75%. The country ranks 122nd out of 166 countries.

The country's Communications, computer, etc. (% of service exports, BoP) is 17.23%, significantly lower than the average of 45.85%. Saint Vincent and the Grenadines ranks 151st out of 169 countries.

Saint Vincent and the Grenadines' Transport services (% of service exports, BoP) is 5.93%, well below the average of 21.80%. The country holds the 142nd rank out of 169 countries.

For Travel services (% of service exports, BoP), the country excels with a value of 69.79%, surpassing the average of 26.40%. Saint Vincent and the Grenadines ranks 11th out of 167 countries.

Lastly, in Insurance and financial services (% of service exports, BoP), Saint Vincent and the Grenadines performs slightly above average at 7.06%, compared to the average of 6.46%. The country holds the 49th rank out of 161 countries.

Summary

Saint Vincent and the Grenadines exhibits significant underperformance in key macroeconomic indicators related to service exports compared to global averages. The country lags behind in ICT service exports, ICT service exports as a percentage of total service exports, Communications and computer services in service exports, and Transport services in service exports. However, Saint Vincent and the Grenadines excels in Travel services exports, surpassing the global average. These findings are crucial as they highlight the country's strengths and weaknesses in different service export sectors, indicating areas that may require attention and potential for further growth and development.

Commercial Service Exports

1. Commercial service exports (current US$): Saint Vincent and the Grenadines has a value of 125,314,279.61 which is significantly below the average of 28,508,218,402.80. With a rank of 147 out of 171 countries, there is room for growth in this area.

2. Travel services (% of commercial service exports): The country's value of 70.41% is well above the average of 27.89%. Saint Vincent and the Grenadines ranks 13 out of 167 countries, indicating a strong reliance on this sector compared to its peers.

3. Computer, communications and other services (% of commercial service exports): At 16.49%, the country lags behind the average of 42.44%. With a rank of 139 out of 169 countries, there is an opportunity for Saint Vincent and the Grenadines to diversify and increase its offerings in this sector.

4. Insurance and financial services (% of commercial service exports): Saint Vincent and the Grenadines' value of 7.12% is slightly above the average of 6.97%. The country ranks 50 out of 161 countries, indicating a moderate presence in this area compared to its global counterparts.

5. Transport services (% of commercial service exports): With a value of 5.98%, Saint Vincent and the Grenadines falls below the average of 23.37%. Ranking 143 out of 169 countries, there is potential for the country to enhance its transport services exports to be more competitive internationally.

Summary

Saint Vincent and the Grenadines has a significant dependence on travel services, with a value well above the global average and a strong ranking compared to its peers. However, there are opportunities for growth in commercial service exports by diversifying into computer, communications, and other services, as well as enhancing transport services. This diversification is crucial for the country's economic resilience and competitiveness in the global market.

Broad Import Attributes

International tourism, expenditures (% of total imports): Saint Vincent and the Grenadines spends 3.47% of its total imports on international tourism, slightly below the average of 3.98%. The country ranks 55 out of 131 countries included in the data for this attribute.

Goods imports (BoP, current US$): With goods imports totaling $283,018,768.02, Saint Vincent and the Grenadines significantly falls below the average of $92,007,788,027.17. The country ranks 163 out of 171 countries in this dataset.

Imports of goods and services (BoP, current US$): Saint Vincent and the Grenadines' imports of goods and services amount to $375,035,946.51, showing a considerable deviation from the average of $120,321,577,988.12. The country ranks 163 out of 170 countries for this attribute.

Imports of goods, services and primary income (BoP, current US$): The country's total imports for goods, services, and primary income stand at $387,324,986.56, significantly lower than the average of $144,514,428,722.28. Saint Vincent and the Grenadines ranks 163 out of 170 countries included in this dataset.

Summary

Saint Vincent and the Grenadines has below-average expenditures on international tourism, significantly lower goods imports, and lower imports of goods, services, and primary income compared to the dataset averages. These statistics highlight the country's limited involvement in global trade and tourism activities, which could indicate challenges in diversifying its economy and accessing a wider range of goods and services from international markets.

Merchandise Imports

Analysis of key import statistics for Saint Vincent and the Grenadines:

Summary

In analyzing key import statistics for Saint Vincent and the Grenadines, it is evident that the country has a lower-than-average merchandise import value, with significant imports of food and a relatively low import of ores and metals. These statistics are important as they provide insights into the country's trade dependencies, economic specialization, and overall consumption patterns, which can impact its economic development and stability.

Service Imports

Service imports (BoP, current US$): Saint Vincent and the Grenadines has a focus country value of $92,017,178.49, well below the attribute average of $27,615,356,170.47. The country ranks 166th out of 171 countries in this dataset.

Communications, computer, etc. (% of service imports, BoP): The country's value of 33.18% is below the attribute average of 44.40%. Saint Vincent and the Grenadines ranks 122nd out of 169 countries for this indicator.

Transport services (% of service imports, BoP): At 37.49%, the country's proportion is above the average of 32.90%. This places Saint Vincent and the Grenadines at 61st out of 169 countries.

Travel services (% of service imports, BoP): Saint Vincent and the Grenadines' value of 11.46% falls below the average of 14.14%. The country ranks 82nd out of 169 countries in this category.

Insurance and financial services (% of service imports, BoP): The country's percentage of 17.87% is significantly higher than the average of 8.53%. Saint Vincent and the Grenadines ranks 14th out of 169 countries for this attribute.

Summary

Saint Vincent and the Grenadines displays varying proportions in different service import categories compared to global averages. While excelling in insurance and financial services imports, the country falls below average in communications and travel services. Understanding these discrepancies is crucial for policymakers to identify areas of strength and weakness in the country's service sector, allowing for targeted interventions to enhance competitiveness and economic growth.

Commercial Service Imports

Commercial service imports in Saint Vincent and the Grenadines amount to $89,577,464.01. This is significantly below the average of $27,102,746,128.60, ranking the country 166th out of 171 countries in the dataset.

The percentage of Computer, communications, and other services in commercial service imports for Saint Vincent and the Grenadines is 31.36%. This percentage is below the average of 41.71%. The country ranks 111th out of 169 countries in this category.

Saint Vincent and the Grenadines allocate 18.36% of commercial service imports to Insurance and financial services, which is notably higher than the average of 8.85%. This places the country at the 16th rank out of 169 countries.

Transport services constitute 38.51% of commercial service imports in Saint Vincent and the Grenadines, slightly higher than the average of 34.71%. The country holds the 61st rank out of 169 countries in this aspect.

Travel services make up 11.77% of commercial service imports for Saint Vincent and the Grenadines, falling below the average of 14.73%. The country is ranked 80th out of 169 countries in this category.

Summary

Saint Vincent and the Grenadines has below-average commercial service imports compared to other countries, ranking 166th out of 171. However, the country allocates a higher percentage to Insurance and financial services, ranking 16th out of 169 countries in this category.

These findings are important as they indicate that Saint Vincent and the Grenadines may have a strategic focus on Insurance and financial services to drive economic growth and development. Understanding the country's allocation of commercial service imports can provide insights into its economic priorities and potential areas for further investment and partnership.

Infrastructure

Analysis of Container Port Traffic (TEU: 20 foot equivalent units): The focus country, Saint Vincent and the Grenadines, has a value of 18,222 TEU. This is significantly below the attribute average of 6,907,110. The country ranks 109th out of 110 countries in this dataset.

Summary

Saint Vincent and the Grenadines has a relatively low container port traffic with a value of 18,222 TEU, ranking 109th out of 110 countries in the dataset. This indicates a limited capacity for international trade and potentially hinders the country's ability to import and export goods efficiently, impacting its overall economic growth and development.

Information Technology Infrastructure

Secure Internet servers: Saint Vincent and the Grenadines has 14 secure internet servers, significantly below the average of 458,294. The country ranks 184 out of 193 countries in this aspect.

Secure Internet servers (per 1 million people): With 133.80 secure internet servers per 1 million people, Saint Vincent and the Grenadines falls well below the average of 14,067. The country holds the 128th position out of 193 countries included in the data.

Individuals using the Internet (% of population): 80.43% of the population in Saint Vincent and the Grenadines use the internet, surpassing the average of 64.77%. The country ranks 63rd out of 180 countries in this metric.

Fixed broadband subscriptions: Saint Vincent and the Grenadines has 24,733 fixed broadband subscriptions, far below the average of 6,591,956. The country is ranked 151st out of 185 countries for fixed broadband subscriptions.

Mobile cellular subscriptions: With 100,362 mobile cellular subscriptions, Saint Vincent and the Grenadines is significantly below the average of 42,526,464. The country ranks 179th out of 193 countries in mobile cellular subscriptions.

Summary

While Saint Vincent and the Grenadines excels in internet penetration with 80.43% of the population using the internet, it lags behind in other digital infrastructure indicators. The low number of secure internet servers, fixed broadband subscriptions, and mobile cellular subscriptions highlight potential limitations in connectivity, hindering the country's ability to fully leverage digital technologies for economic growth and development.

Energy Consumption

The renewable energy consumption in Saint Vincent and the Grenadines is 4.9% of the total final energy consumption, significantly below the average of 32.18%. The country is ranked 160th out of 191 countries in this category.

CO2 emissions in Saint Vincent and the Grenadines are 219.8 kt, a figure significantly below the average of 171,895.94 kt. Saint Vincent and the Grenadines ranks 177th out of 188 countries for CO2 emissions.

Summary

Saint Vincent and the Grenadines exhibits a low level of renewable energy consumption, at 4.9%, which is considerably below the global average. Additionally, the country has relatively low CO2 emissions, with 219.8 kt emitted, far below the average emission level. These statistics are crucial as they indicate the country's limited contribution to global carbon emissions and highlight the potential for increased investment in renewable energy infrastructure to further reduce its carbon footprint.

Government Balance Sheet

1. Total reserves (% of total external debt): The focus country, Saint Vincent and the Grenadines, has a value of 49.50%, which is below the attribute average of 66.13%. It ranks 35th out of 102 countries in the dataset.

2. Reserves and related items (BoP, current US$): Saint Vincent and the Grenadines has a value of -2,666,960.82 USD, significantly below the attribute average of 1,924,407,186.58 USD. It ranks 98th out of 171 countries in the dataset.

3. Total reserves minus gold (current US$): The focus country's value is 205,195,146.79 USD, far below the attribute average of 74,221,588,171.61 USD. Saint Vincent and the Grenadines ranks 156th out of 161 countries in the dataset.

4. Total reserves (includes gold, current US$): Saint Vincent and the Grenadines has reserves totaling 205,195,146.79 USD, also well below the attribute average of 85,708,019,773.47 USD. It ranks 156th out of 161 countries in the dataset.

5. Total reserves in months of imports: The focus country has reserves equivalent to 6.36 months of imports, slightly below the attribute average of 7.10 months. Saint Vincent and the Grenadines ranks 66th out of 151 countries in the dataset.

Summary

Saint Vincent and the Grenadines shows concerning trends in key macroeconomic indicators related to reserves. The country's total reserves are below average compared to other nations, with rankings below the global average in all categories. This indicates a potential vulnerability in the country's ability to meet its external financial obligations and manage economic shocks effectively, highlighting the importance of enhancing reserve adequacy and economic stability efforts.

Taxes

1. Tariff rate, applied, weighted mean, all products (%): Saint Vincent and the Grenadines has a tariff rate of 8.97%, which is above the attribute average of 5.21%. This places Saint Vincent and the Grenadines at rank 34 out of 153 countries in terms of tariff rates.

Summary

Saint Vincent and the Grenadines maintains a tariff rate of 8.97%, surpassing the global average of 5.21%. This places the country at the 34th position out of 153 nations in terms of tariff rates. This higher tariff rate indicates that Saint Vincent and the Grenadines may be trying to protect domestic industries, generate revenue, or control imports, which can significantly impact its trade relations and overall economic growth.

Top Stats

Ranks in Top Decile For:

Attribute Rank/Total
International tourism, receipts (% of total exports) 7/120
Food exports (% of merchandise exports) 4/152
Travel services (% of service exports, BoP) 11/167
Travel services (% of commercial service exports) 13/167
Food imports (% of merchandise imports) 11/152
Insurance and financial services (% of service imports, BoP) 14/169
Insurance and financial services (% of commercial service imports) 16/169

Ranks in Bottom Decile For:

Attribute Rank/Total
Population, total 181/194
Population ages 0-14, total 180/194
Population ages 15-64, total 180/194
Population ages 65 and above, total 178/194
Rural population 177/190
Urban population 177/194
Land area (sq. km) 183/194
Surface area (sq. km) 183/194
Arable land (hectares) 182/190
Land under cereal production (hectares) 172/174
Renewable internal freshwater resources, total (billion cubic meters) 171/178
Total natural resources rents (% of GDP) 162/175
Cereal production (metric tons) 164/174
Aquaculture production (metric tons) 166/180
Total fisheries production (metric tons) 168/182
Patent applications, nonresidents 117/129
Trademark applications, nonresident, by count 122/130
Trademark applications, resident, by count 123/129
Scientific and technical journal articles 181/192
GDP (current US$) 179/189
GDP, PPP (current international $) 171/181
GNI (current US$) 176/185
GNI, PPP (current international $) 171/181
Gross value added at basic prices (GVA) (current US$) 170/176
Agriculture, forestry, and fishing, value added (current US$) 171/182
Services, value added (current US$) 177/183
Industry (including construction), value added (current US$) 175/183
Manufacturing, value added (current US$) 167/173
Manufacturing, value added (% of GDP) 156/173
Broad money growth (annual %) 136/139
Debt service on external debt, total (TDS, current US$) 111/123
External debt stocks, public and publicly guaranteed (PPG) (DOD, current US$) 117/123
External debt stocks, total (DOD, current US$) 119/123
Current account balance (% of GDP) 157/170
Exports of goods, services and primary income (BoP, current US$) 161/170
Exports of goods and services (BoP, current US$) 160/170
Goods exports (BoP, current US$) 161/171
Merchandise exports (current US$) 174/187
Fuel exports (% of merchandise exports) 144/147
Goods imports (BoP, current US$) 163/171
Imports of goods and services (BoP, current US$) 163/170
Imports of goods, services and primary income (BoP, current US$) 163/170
Merchandise imports (current US$) 179/190
Service imports (BoP, current US$) 166/171
Commercial service imports (current US$) 166/171
Container port traffic (TEU: 20 foot equivalent units) 109/110
Secure Internet servers 184/193
Mobile cellular subscriptions 179/193
CO2 emissions (kt) 177/188
Total reserves minus gold (current US$) 156/161
Total reserves (includes gold, current US$) 156/161