Business

The largest contributors to the Gross Domestic Product are Tourism and Financial Services which account for over three-quarters of the economy. Tourism contributes directly or indirectly for more than half of GDP and is also the principal earner of foreign exchange in Antigua and Barbuda. Agriculture and fisheries have dropped from 40 per cent of GDP in the 1960s to about 12 per cent. Manufacturing industries, which thrived in the decade of the 1980s, are export oriented and produce garments, paint, furniture, bedding and galvanized sheets. Internet gaming is playing an important role in the diversification and expansion of the services sector. A final source of revenue for the government is the rent on two US military bases.

Antigua is a member of the Eastern Caribbean Currency Union (ECCU). The Eastern Caribbean Central Bank (ECCB) issues a common currency (the East Caribbean Dollar) for all members of the ECCU. The ECCB also manages monetary policy, and regulates and supervises commercial banking activities in its member countries.

The financial services sector is strong and growing. Banks include Canadian and British banks, and several regional and indigenous banks. The offshore jurisdiction was created in 1982 with the passing of the IBC Act, resulting in over twenty (20) years experience in offshore banking, insurance, International Business Corporations (IBC's), internet gaming and trust services.

A full range of professional services is available, in different areas including legal, accounting and management. The legal system is patterned after British Common Law, with final Court of Appeal to the Privy Council.