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Country Guide > Caribbean > Montserrat | |
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Business Profile Economy The island was recovering from the volcanic explosion of January 1997, which destroyed much of the island’s productive capacity, when it was hit by a new series of eruptions in July 2003. Previously, Montserrat had a diverse if fragile economy. The agricultural sector produced vegetables, cotton and livestock. The industrial sector, which employed one-third of the workforce and earned the bulk of Montserrat’s export income, was concentrated in food processing and the assembly of electronic components. In the service sector, e-commerce and financial services were two important growth areas. After the 1997 eruption, the island became largely dependent on foreign aid – in particular, a $125 million aid package from Britain. However, following the latest series of eruptions, Montserrat is reaching the point where the economy is no longer viable. Business A short- or long-sleeved shirt or safari suit is suitable for most business visits. Office hours: Mon-Fri 0800-1600. Commercial Information The following organisation can offer advice: Development Unit, PO Box 292, Brades (tel: 491 2066; fax: 491 4632; e-mail: devunit@candw.ag; website: www.devunit.gov.ms). Conferences/Conventions Contact Montserrat Tourist Board for further details (see Contact Addresses section). |