JoandavisDavis
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pm | | Economy of Virgin Islands (U.S.) (16th Sep 22 at 2:10pm UTC) | | The Virgin Islands (USA) are considered a developed nation. A nation's level of development is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality and quality of life. As a developed nation, the US Virgin Islands are able to provide social services such as public education, health care, and law enforcement to its citizens. Citizens of developed countries enjoy a high standard of living and longer life expectancies than citizens of developing countries. Every year, the Virgin Islands (USA) export about US$4.23 billion and import about US$0.31 billion. 9.5% of the country's population is unemployed. The total number of unemployed in the US Virgin Islands is 9,967. The country's Gini index is 42.96. The Virgin Islands (USA) experience poor equality. The gap between the richest and poorest citizens in this country is quite palpable.
Currency
The currency of the Virgin Islands (USA) is the US dollar. The US Dollar is one of the major currencies in the world and is used in several territories besides the United States, including Puerto Rico, Guam and the US Virgin Islands. The US dollar is a stable currency that can be relied upon for investment opportunities. The plural form of the word US dollar is dollars. The symbol used for this currency is $ and is abbreviated to USD. The US dollar is divided into cents; there are 100 in a dollar.
Credit rating
Creditworthiness is the degree to which international investors trust a country to pay off debt and honor the country's lending commitments. There is no information on the creditworthiness of the US Virgin Islands.
Central bank
In the US Virgin Islands, the institution that manages the state's currency, money supply, and interest rates is called the Federal Reserve Bank.
National debt
The US Virgin Islands government debt has not yet been calculated.
Tax information
Corporate income tax in the US Virgin Islands is 35%. Personal income tax ranges from 10% to 35% depending on your specific situation and income level. Sales tax in the US Virgin Islands is 0%.
Finances
The total Gross Domestic Product (GDP) valued at Purchasing Power Parity (PPP) in the US Virgin Islands is $1.577 billion. The U.S. Virgin Islands Gross Domestic Product (GDP) at Purchasing Power Parity (PPP) per capita was last recorded at $0 million. PPP in the US Virgin Islands is considered below average compared to other countries. Below-average PPPs indicate that citizens in this country find it difficult to buy local goods. Local goods can include food, shelter, clothing, healthcare, personal hygiene, essential furnishings, transportation and communications, laundry, and various types of insurance. Countries with below-average purchasing power parities are dangerous locations for investments. The total gross domestic product (GDP) in US Virgin Islands is 2 billion. Based on this statistic, the Virgin Islands (USA) is considered to be a small economy. Countries with small economies generally support fewer industries and investment opportunities. However, worthwhile investment opportunities can be found. The gross domestic product (GDP) per capita in the Virgin Islands (USA) was last measured at 0 million US dollars. The average citizen in the US Virgin Islands has very little net worth. Countries with very low wealth per capita often have lower life expectancies and a dramatically lower quality of life for their citizens. In countries with very low levels of prosperity, it can be very difficult to find a highly skilled workforce as it is difficult for citizens to obtain the education required for specialized industries. However, labor can be found at very low rates compared to countries with higher wealth per capita. The annual GDP growth rate in the US Virgin Islands averaged 2% in 2014. According to this percentage, the US Virgin Islands is currently experiencing modest growth.
https://www.confiduss.com/en/jurisdictions/the-us-virgin-islands/economy/ | |
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