IMF Staff Country Reports

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 2½ 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.