The IMF Country Reports Series covers economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member.
This paper reviews economic development in St. Lucia during 1993-98. Economic performance weakened in St. Lucia during 1995-97. Real GDP growth declined to an average of about 21/2 percent a year during this period, after averaging more than 6 percent over the previous 10-year period. A key element in this decline was the contraction in banana production by one-third, to 71,000 tons in 1997. Brisk growth in tourism offset this decline to some extent, with annual average real earnings increasing by more than 6 percent.