Caribbean Region: Review of Economic Growth and ... - USITC

Antigua & Barbuda: Selected international integration indicators, MRY (2000–07)Merchandise exports to the United States (% of total exports, 2005) 7.7CBERA utilization rate (% of total exports to the U.S. entering under program, 2007) 1.6CBERA utilization rate (% of total apparel exports to the U.S. entering under program, 2007) 0.0Exports of goods and services (% relative to GDP, 2004) 62Imports of goods and services (% relative to GDP, 2004) 69Export concentration indicators, 2005Herfindahl-Hirschmann index (world value = 0.067, lower value implies more diversification) 0.689Number of products exported (world value = 260, calculated at 3-digit SITC level) 36MFN tariffs, total, applied 2006 (simple average of ad-valorem duties, %) 7.8Agricultural goods 15.0Non-agricultural goods 8.9Official development assistance ($ million, 2005) 7.2Total debt service (% of exports of goods, services, and income)naSources: DataWeb; World Development Indicators; UNCTAD Handbook of Statistics Online; WTO; WITS. See appendix D forsources and definitions.Note: MRY=most recent year for which data are available; na = “not available.”Merchandise exports to the United States represented approximately 8 percent of Antigua and Barbuda’stotal exports. Antigua and Barbuda is eligible for preferential access to the U.S. market under the originalCBERA and GSP programs, but not CBTPA. In 2007, U.S. imports from Antigua and Barbuda were $8.9million, of which $0.1 million was under CBERA. Antigua and Barbuda’s main exports to the United Statesincluded aluminum waste, electrical machines, and wine. Antigua and Barbuda had a CBERA utilization rateof 1.6 percent. The main products exported to the United States under CBERA included wine, self-adhesiveplates, and semiprecious worked stones. In 2007, Antigua and Barbuda’s imports from the United States werevalued at $231 million. The main product imported from the United States was petroleum.Antigua and Barbuda’s total goods and services trade is equivalent to about 170 percent relative to GDP.Antigua and Barbuda maintained a merchandise trade deficit between 2000 and 2006. Merchandise exports5make up a very small component of the economy of Antigua and Barbuda. Its main exports are manufacturedgoods, and its main export markets are Spain, Germany, and Italy. The main imports are petroleum products,machinery and transportation equipment, office machines, and telecommunications equipment, and its main6import suppliers are the United States, China, and Germany.FDI into Antigua and Barbuda averaged $100 million during 2002–06. Antigua and Barbuda encourages FDIthrough fiscal and other investment incentives. Debt relief of more than $500 million through bilateralnegotiations with external creditors (particularly public debt to Italy) has helped Antigua and Barbuda5According to the WTO, the lack of trade statistics for Antigua and Barbuda constrains a full analysis of thecountry’s trade flows. Trade data are generally less available for Antigua and Barbuda than for other OECS WTOmembers. WTO, Trade Policy Review, Report by the Secretariat: Antigua and Barbuda, WT/TPR/S/190/ATG, Oct.1, 2007.6Trade data from WTO, Trade Policy Review, Report by the Secretariat: Antigua and Barbuda,WT/TPR/S/190/ATG, Oct. 1, 2007.4-8