Market Research In Montserrat

Montserrat Profile:

  • Montserrat is a Caribbean island, specifically in the Leeward Islands and is a British Overseas Territory (BOT).
  • Montserrat is an internally self-governing overseas territory of the United Kingdom.
  • Montserrat is nicknamed “The Emerald Isle of the Caribbean” both for its resemblance to coastal Ireland and for the Irish ancestry of many of its inhabitants.
  • Montserrat is the most studied volcano in the world and Montserrat has been regarded as a “Modern-Day Pompeii” in the Caribbean.
  • Montserrat deals primarily in the selling and shipping of aggregate for construction.

Montserrat Economy:

  • Montserrat has a limited, small and open economy
  • Half of the island remains uninhabitable. The agriculture sector continued to be affected by the lack of suitable land for farming and the destruction of crops.
  • Severe volcanic activity, which began in July 1995, has put a damper on this small, open economy. A catastrophic eruption in June 1997 closed the airport and seaports, causing further economic and social dislocation. Two-thirds of the 12,000 inhabitants fled the island.
  • Prospects for the economy depend largely on developments in relation to the volcanic activity and on public sector construction activity.
  • In January 2013, the EU announced the disbursement of a $55.2 million aid package to Montserrat in order to boost the country’s economic recovery, with a specific focus on public finance management, public sector reform, and prudent economic management.

Montserrat Facts:

  • Population:  5,292
  • Capital: Plymouth
  • Largest city: Brades
  • Area: 102 sq km
  • Major language: English
  • Major religion: Protestant 67.1%, Roman Catholic 11.6%, Rastafarian 1.4%, other 6.5%
  • Life expectancy: 75.9 years (Male), 73.2 years (Female)
  • Monetary unit: 1 East Caribbean Dollar(EC$, XCD) = 100 Cents
  • Main exports: Electronic components, plastic bags, apparel; hot peppers, limes, live plants; cattle
  • GNI per Capita: $11,363.3

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