Once a single-crop agricultural economy, Saint Lucia has shifted to a tourism and banking serviced-based economy. Tourism, the island's biggest industry and main source of jobs, income, and foreign exchange, accounts for 65% of its GDP. Agriculture, which was once the biggest industry, now contributes to less than 3% of GDP, but still accounts for 20% of jobs. The banana industry is now on a decline due to strong competition from low-cost Latin American producers and reduced European trade preferences, but the government has helped revitalize the industry, with 13,734 tonnes exported in 2018. Agricultural crops grown for export are bananas, mangoes, and avocados. The island is considered to have the most diverse and well-developed manufacturing industry in the eastern Caribbean.
Top Sectors in Saint Lucia
Agriculture in Saint Lucia
Agriculture is the second-largest industry in Saint Lucia. In 2020, agriculture only contributed 2.2% to Saint Lucia's GDP, but still accounts for a significant number of jobs—some 10% of the employed population. As of the 2010 census, the roughly 10,000 agricultural holdings covered an area of 30,204 acres, an average of 3.0 acres per agricultural holding.<br>About 18% of the land is used for agricultural practices. Most farms consist of less than 5 acres of land. The main agricultural products grown in Saint Lucia are bananas, coconuts, cocoa beans, mangoes, avocados, vegetables, citrus fruits, and root crops such as yams and sweet potatoes. Most of these agricultural products are grown for local consumption, but bananas and coconuts are mainly grown for export, with some vegetables. Bananas occupy about 14,826 acres of the agricultural land, while coconuts occupy 12,400 acres.
Tourism in Saint Lucia
The island currently attracts over 900,000 visitors annually. Saint Lucia has been able to attract foreign businesses and investment, especially in its offshore banking and tourism industries. Tourism is Saint Lucia's main source of jobs and income, accounting for 65% of GDP, and the island's main source of foreign exchange earnings. The northern end of Saint Lucia is tourism's most urbanized area, with a fair number of hotels and resorts located along beaches, or with seaside views. This is also home to many of the island's large, all-inclusive resorts.
Construction in Saint Lucia
The construction sector in Saint Lucia is driven largely by tourism-related projects and infrastructure development. This includes the building of new hotels, resorts, and residential areas to accommodate the growing number of visitors and residents. Additionally, public infrastructure projects such as road improvements and airport expansions are essential for supporting the island's economic growth. The construction industry plays a crucial role in employment and in the overall development of the island's physical and economic landscape.
Manufacturing in Saint Lucia
The manufacturing industry in Saint Lucia is the most diverse and well-developed in the eastern Caribbean. It encompasses a range of activities from food processing to the production of goods for export and local consumption. The sector includes the manufacturing of beverages, apparel, electronic components, and construction materials. This diversity not only supports the local economy but also reduces dependence on imports, boosting the island's economic resilience.
20 Nov 2024
19 Nov 2025
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