St. Vincent and the Grenadines are considered a developing country. 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 developing country, Saint Vincent and the Grenadines may not be able to provide consistent social services to its citizens. These social services can include things like public education, reliable health care, and law enforcement. Citizens of developing countries may have a lower life expectancy than citizens of developed countries. Saint Vincent and the Grenadines exports about US$0.05 billion and imports about US$0.3 billion each year. 18.3% of the country's population is unemployed. The total number of unemployed in St. Vincent and the Grenadines is 20,167. Government spending on education is 6.6% of GDP. The country's Gini index is 40.32. There is a lack of equality in St. Vincent and the Grenadines. The gap between the richest and poorest citizens in this country is palpable. Saint Vincent and the Grenadines has a Human Development Index (HDI) of 0.719. Saint Vincent and the Grenadines has an upper mean HDI value. This indicates that the majority of citizens will be able to lead a worthwhile life, although some citizens will not be able to attain a high standard of living. The strength of the Legal Rights Index for St Vincent and the Grenadines is 5. Overall, it is considered to be rather weak – bankruptcy and collateral laws can protect the rights of borrowers and lenders to some extent; Credit information may be sufficient but scarcely available or, conversely, available but not sufficient.

Currency

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.

Credit rating
The depth of credit information index for Saint Vincent and the Grenadines is 0, which means that information, if any, is scarce, of insufficient details and almost inaccessible. According to the Moody's credit-rating agency, Saint Vincent and the Grenadines has a credit rating score of B1, and the prospects of this rating are stable.

Central bank
In Saint Vincent and the Grenadines, the institution that manages the state's currency, money supply, and interest rates is called Eastern Caribbean Central Bank. The average deposit interest rate offered by local banks in Saint Vincent and the Grenadines is 2.6%.

Public debt
Saint Vincent and the Grenadines has a government debt of 68% of the country's Gross Domestic Product (GDP), as assessed in 2011.

Tax information
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%.

Finances
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Saint Vincent and the Grenadines is $1174 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Saint Vincent and the Grenadines was last recorded at $11 million. PPP in Saint Vincent and the Grenadines is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance.

https://www.confiduss.com/en/jurisdictions/saint-vincent-and-the-grenadines/economy/