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St. Vincent and the Grenadines is an independent nation located at 13°10N 61°14W including the main island. One of the Windward Islands of the Eastern Caribbean, there are 32 islands that make up the archipelago. St. Vincent and the Grenadines is 390 sq. km or 150.6 sq mi. In earlier days, the island was named “Hairoun” or “Land of the Blessed” by its indigenous population.

This mountainous island formed from volcanic activity gained its independence from Britain on October 30, 1979. During its history, both the French and the British colonized the island. This period saw the displacement of the majority of the indigenous population, namely the Caribs of Amerindian origin. The state remains a member of the Commonwealth of Nations.

St. Vincent is now home to a population of 110,000 inhabitants mainly of African descent with a smaller number who are of European and Indian descent.The State has always and continues to enjoy stable Government. Its parliament is a unicameral system based on the Westminster model. Its Head of State is the Governor General, the Queen’s representative currently Sir Frederick Ballantyne and the Head of Government is the Prime Minister Dr. The Honorable Ralph E. Gonsalves.The islands economy depends largely on agriculture, tourism and overseas remittances. Trade Exports earned the country EC$98.5 million while its Import bill amounted to EC$890.9 million (2017 SVG Government Statistics).

Brief Economic History

Once basically a single crop economy, changing successively from sugar and arrowroot through to bananas the Government‘s thrust is one of economic diversification. In support of its objective, the Government’s undertakings include:

The “Education Revolution” geared to ensuring the widest possible access to primary through tertiary levels
The completion of the Argyle International Airport
On-going expansion of hotel plant particularly on the Leeward side of the island together with an airport hotel at Diamond
The anticipated construction of the Kingstown cargo port facility which will also provide for intra and inter island marine transportation services
The opening of the state of the art diagnostic hospital in Georgetown
Plans for a new city at Arnos Vale to be anchored by an acute care hospital
The introduction of a geo-thermal power generating plant
Legislation to establish and enable a medical cannabis industryIn addition to the above measures, the Government continues in its quest to strengthen the island’s productive sectors by:
- Providing duty concessions to the manufacturing sectors
- Forcefully defending Article 164 of the Treaty of Chagaramus

The foregoing will see continuing enhancements in the Country’s overall economic performance with positive GDP outlook.