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Doing Business > Trade & Investment > Sectoral Information

Trade and Investment Trade and Investment in St. Lucia
Economic Outlook
Sectoral Information
Business Community

Sectoral Information

Tourism

St. Lucia’s tourism sector is the leader in sustaining economic growth, providing a major source of revenue and attaining a record high level of visitor arrivals in 2003. A major surge in cruise ship passenger arrivals (424,474 in 2002), coupled with a rise in stay-over visitors (260,372 in 2002) were notable characteristics of the sector’s strong performance. Through targeted airlift capacity from major markets, there has been an increase in visitors from Canada, the United Kingdom, and the USA, accounting for a large percent of St. Lucia’s stay-over visitor arrivals.

Manufacturing

The manufacturing sector is diverse and continues to increase marginally. The country’s processing and manufacturing enterprises are engaged in apparel, coconut derivatives, plastics, beverages, tobacco, textiles, informatics and other types of operations directly related to the construction sector. The government continues to encourage indigenous and foreign investment in manufacturing and to provide fiscal incentives and concessions to stimulate manufacturing activities.

Information Technology

Recently there has been a focus on the development of the information services industry in St. Lucia particularly electrical services, data processing input support, physical facilities, air transportation, and telecommunications services. The sector hasn’t grown significantly since 1997, however, fiscal incentives and concessions, and recently, the liberalization of the telecommunications environment within St. Lucia and the other OECS (Organization of Eastern Caribbean States) territories provides the framework for the continued development in this sector.

Agriculture and Fisheries

St. Lucia BananasAgriculture once accounted for some 30,000 jobs in St. Lucia, 90% of which were directly related to the banana industry. The sector’s significant decline in 1997 resulted as profitability in the banana sub sector decreased due to lower prices, increased production costs, reduction in credit for inputs, and the uncertainty of the special arrangements with the European market. Notwithstanding, St. Lucia continues to be the Windward Islands' largest exporter of bananas to the United Kingdom.

The fisheries sub sector continues to expand due to direct investment in infrastructure facilities throughout the island.

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