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 describes economic developments in St. Vincent and the Grenadines during the 1990s. Between 1990 and 1995, real GDP growth (at factor costs) averaged 4 percent per year, but varied widely from year to year, largely reflecting developments in the banana industry, St. Vincent's principal crop. After three years of solid growth in 1990-92, the economy stagnated in 1993-94, as severe weather conditions sharply reduced banana harvests. Real GDP growth climbed to more than 7 percent in 1995 with a substantial recovery in banana production.