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Antigua & BarbudaAntigua and Barbuda was the UK's 9th largest export market in the Caribbean during 2001, with total exports of £17.28 million. Exports to Antigua and Barbuda are mainly machinery and transport equipment, chemicals, manufactured goods and articles and food and beverages. The dominant activity in the economy is tourism, accounting directly or indirectly for more than half of GDP. Other industries include construction and light manufacturing (clothing, alcohol, household appliances). The dual island nation's agricultural production is mainly directed to the domestic market; the sector is constrained by the limited water supply and labour shortages that reflect the pull of higher wages in tourism and construction. Prospects for economic growth in the medium term will continue to depend on income growth in the industrialised world, especially in the US, which accounts for about one-third of all tourist arrivals. UK exports to Antigua and Barbuda totalled £17.28m in 2001, and mainly consisted of machinery and transport equipment and chemicals and related products. UK imports from Antigua and Barbuda totalled £3.36m. Antigua and Barbuda - UK Trade
BahamasThe Bahamas are a chain of 700 islands and 2000 islets stretching from off the south-east coast of Florida toward Cuba. The Bahamas have been self-governing since 1964, and gained full independence from Britain in July 1973. The economy depends almost entirely on tourism, which is promoted as an all-year-round business. In the last decade the tourist industry grew at an impressive rate as a result of which an increasingly high standard of living is enjoyed by most sections of the community. The total number of visitors to the Bahamas (including those on cruise ships) reached 3,270,000 in 1999. Practically all requirements need to be imported and because of its geographical proximity, demand is directed mainly towards the USA. The other leading and traditional suppliers of goods are Britain and Canada. In 2000 The Bahamas was the UK's 8th largest market in the Caribbean, with exports to the value of £25.26 million, a decrease of 19.8% over 1999. The main UK exports to The Bahamas include: Bahamian exports to the UK were 31.1% down on 1999, at £45.98 million Bahamas - UK Trade
BarbadosBarbados is the most easterly of the Caribbean islands. It is a virtually flat island of 166 square miles, is approximately 21 miles long and 14 miles wide at its greates point. Barbados has one of the most prosperous and highly developed economies in the Eastern Caribbean with a well educated, skilled work force. Its infrastructure is among the best in the Caribbean. The economy is experiencing some recovery after a number of years of negative growth. Although trade figures have fluctuated over the years bilateral trade relations remain good. Barbados is the UK's 4th largest market in the Caribbean, with exports of £55.40m. However, when seen as part of the wider, fragmented 7-country East Caribbean market covered by the British High Commission in Bridgetown, it is the second largest market for British exports to the Caribbean In 2001, Barbados exports to the UK amounted to £40.2M, an increase of 64% over the 2000 figure of £24.5M. Barbados - UK Trade
Dominican RepublicSince the early 1990s, the Dominican Republic has placed greater emphasis on trade liberalisation and the need to attract foreign investment. The Central Bank reported growth of 8.3% in 1999, with inflation remaining around 6% following a trend of continuous growth over the past 4 years. The privatisation process has gained momentum during this period with state-owned companies in the following sectors undergoing the process: electricity, the sugar industry, airports, flour mills, and tobacco processing, all of which currently offer supply opportunities. The Dominican Republic is relatively rich in resources and the economy remains traditionally dependent upon agricultural commodities. Sugar is the main export commodity, followed by minerals such as gold and nickel. Diversification of the economy into tourism and light manufacturing has taken place since the 1970's. Tourism became a strong growth industry in the 1980's and is playing a major role in the country's development, off-setting the trade deficit. Tourism accounts for around 46% of the country's foreign exchange earnings, and recorded an increase of 10.3% in 1999. About 2.5 million tourists - mainly from Europe - visit the Dominican Republic. The opening of almost 5,000 new hotel rooms has contributed to the increase of tourists to the Dominican Republic during 1999. The Dominican Republic currently has over 51,500 hotel rooms. The Dominican Republic was the 5th largest export market in the Caribbean for the UK. Exports from the UK to the Dominican Republic during 2000 increased by 31% over 1999. The Dominican Republic exports to the UK during 2000 increased by 11% over 1999. UK Exports to the Dominican Republic during 2001 amounted to £45.6 million. Dominican Republic - UK Trade
GuyanaGuyana has a population of around 850,000. Georgetown, located at the mouth of the Demerara River and with a population of 185,000, is the capital of Guyana. The Guyanese economy fell into recession after an impressive record of high and sustained growth rates of around 7% over the period 1991-1997. The projection of 3.2% growth in Gross Domestic product (GDP) for the year 1998, did not materialise, the economy actually declined by 1.3% in 1998. Real GDP grew by 3% in 1999. In 2000 Guyana was the UK's 12th largest export market in the Caribbean. UK exports to Guyana for 2000 were valued at £19.7 million, which was a decrease of 8.5% over 1999. The main exports consisted of machinery and transport equipment, manufactured goods and articles, food and beverages and chemicals. Guyanese exports to the UK in 2000 were 12.7% down on 1999 at £64.7 million, and consisted mainly of sugar, rum and chemicals. Guyana - UK Trade
JamaicaJamaica is the largest island in the Commonwealth Caribbean and the third largest in the Caribbean. The key sector areas are: mining, tourism, financial services and information technology. The UK's trade relations with Jamaica are good. In 2001 it was the UK's 3rd largest export market in the Caribbean after Puerto Rico and Trinidad & Tobago. UK exports were over £70 million a 17% increase over the 2000 figure. Total UK investment in Jamaica at the end of 1998 (latest available) was £855m. UK companies who have contributed to this figure include among others Cable & Wireless, British Airways, Courts, De La Rue, Diageo, Fujitsu-ICL, Kier International, RMC, Securicor Security Services, and Shell There are numerous opportunities for UK companies in a wide variety of sectors. Tourism is the country's largest foreign exchange earner and as such there are opportunities for UK companies in all aspects of this sector from consultancy, supply of goods and training. The cruiseship industry also presents opportunities, most notably in the construction of new piers and duty free complexes. Mining is another sector of great importance to Jamaica and UK companies have invested in this sector. Opportunities still exist for technical consultancy, supply of plant equipment. Other further sectors presenting opportunities are telecommunications, IT, agricultural and manufacturing. Jamaica - UK Trade
St LuciaSt Lucia is located in the middle of the Eastern Caribbean chain of islands. It is 27 miles long, 14 miles wide and has a combination of high mountains, forests, low-lying lands and beaches. With its fine natural harbor at Castries, St Lucia was contested between England and France throughout the 17th and early 18th centuries (changing possession 14 times); it was finally ceded to the UK in 1814. Self government was granted in 1967 and independence in 1979. St Lucia has long been a good market for UK goods. In 2000 it was the UK's 14th largest market in the Caribbean with exports totalling over £13 million. Main exports from the UK to St Lucica were: Imports from St Lucia to the UK in 2000 were valued at £33 million, consisting mainly of bananas. St Lucia's main exports are: St Lucia - UK Trade
Trinidad & TobagoThe UK's trade relations with Trinidad and Tobago are good. In 2002 it was the UK's second largest market in the Caribbean with exports totalling £92 million. The main exports were machinery and transport equipment, manufactured goods and articles, chemicals and food and drinks. Trinidad and Tobago offers significant prospects for exporters, particularly for suppliers of capital equipment and machinery, hardware, transport equipment and electrical items. Prospects are are particularly good for suppliers of oil and gas machinery, computers and peripherals, agrochemicals and pharmaceuticals. In the petroleum sector, the petrochemical sub - sector expanded by 22.1% and other petroleum by 2.1%. In the non - petroleum sector, construction (13.5%) and distribution (12.5%) led the way. Agriculture was the only sector to register negative growth, declining by 14.7%. Trinidad & Tobago - UK Trade
United KingdomWith an estimated population of almost 60 million, the United Kingdom comprises four geographic parts – England, Scotland, Wales and Northern Ireland. Agriculture is intensive, highly mechanised, and efficient by European standards, producing about 60% of food needs with only 1% of the labour force. The UK has large coal, natural gas, and oil reserves; primary energy production accounts for 10% of GDP, one of the highest shares of any industrial nation. Services, particularly banking, insurance, and business services, account by far for the largest proportion of GDP while industry continues to decline in importance. The UK is currently weighing the degree of its integration with continental Europe. A member of the EU, it chose to remain outside of the European Monetary Union for the time being. Constitutional reform is also a significant issue in the UK. Regional assemblies with varying degrees of power opened in Scotland, Wales, and Northern Ireland in 1999. Economically the United Kingdom has benefited since the 1970s from production of oil and gas from deposits in the North Sea. London has remained a leading world financial centre, whose time zone allows it to bridge the gap between trading in Tokyo and New York City. The United Kingdom's traditional strength in manufacturing, however, has declined, with employment in manufacturing falling in absolute terms. This process has undoubtedly contributed to a social and economic gap between the economically challenged industrialised north and the more prosperous service-oriented south. Socially the United Kingdom suffers from pockets of poverty, with some inner-city areas among the most impoverished in Europe. Urban poverty exists even in London, one of Europe's richest cities. The growth in the population of ethnic minorities from former colonies has enriched the nation's cultural fabric but contributed to social tensions, which occasionally result in violence. In contrast, home ownership is widespread and, while the state provides free schooling, so-called public schools thrive. |
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