Finance of Saint Vincent and the Grenadines

The minimum monthly wage in Saint Vincent and the Grenadines is dependent on each particular industry. Saint Vincent and the Grenadines has a government debt of 68% of the country's Gross Domestic Product (GDP), as assessed in 2011. With regard to consumer prices, the inflation rate in Saint Vincent and the Grenadines is 2.8%. The currency of Saint Vincent and the Grenadines is eastern caribbean dollar. The plural form of the word eastern caribbean dollar is dollars. The symbol used for this currency is $, and it is abbreviated as XCD. The eastern caribbean dollar is divided into cent; there are 100 in one eastern caribbean dollar. The corporate tax in Saint Vincent and the Grenadines is set at 32.5%. Personal income tax ranges from 10% to 55%, depending on your specific situation and income level. VAT in Saint Vincent and the Grenadines is 15%. In 2013, Saint Vincent and the Grenadines received 8.5 million USD in foreign aid.In 2014, the foreign aid amounted to 17.8 USD.

Gross Domestic Product

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Saint Vincent and the Grenadines is $1,174 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Saint Vincent and the Grenadines was last recorded at $10,653,358. PPP in Saint Vincent and the Grenadines is considered to be very good when compared to other countries. Very good PPP indicates that citizens in this country find it easy to purchase local goods. Local goods can include food, shleter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with very good PPP are safe locations for investments. The total Gross Domestic Product (GDP) in Saint Vincent and the Grenadines is 1 billion. Based on this statistic, Saint Vincent and the Grenadines is considered to have a small economy. Countries with small economies generally support less industries and opportunities for investment. However, worthwhile investment opportunities may be found. The Gross Domestic Product (GDP) per capita in Saint Vincent and the Grenadines was last recorded at $6,434. The average citizen in Saint Vincent and the Grenadines has average wealth. Countries with average wealth per capita can reasonably be expected to support a competent workforce with adequate wages. Employees in countries with average wealth are well-educated, but it can occasionally be difficult to find highly specialized in employees because of the lack of advanced degree programs. Labor is affordable in countries with average wealth when compared with countries that have high or very high wealth. GDP Annual Growth Rate in Saint Vincent and the Grenadines averaged 1.7% in 2014. According to this percentage, Saint Vincent and the Grenadines is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly.