Exporting to St Lucia

Saint Lucia is an Eastern Caribbean island nation with a population of 183,000 people. In the year to June 2019, total UK exports to St Lucia amounted to £41 million (ONS, 2019).

Improving economy

St Lucia has experienced positive GDP growth every year for the past five years, and is forecast to continue this trend over the next five years. GDP per capita is rising in a similar fashion (IMF, 2019). This should lead to an increase in spending power for the St Lucian consumer.

Growing Import market

Apart from a dip in 2017, St Lucia has experienced import growth consistently since 2015. The import market is forecast to continue growing for at least the next five years (IMF, 2019) In 2018, St Lucia’s top goods imported by St Lucia from the UK were meat and meat preparations, dairy products and eggs, electrical goods, mechanical power generators and consumer manufactures (ONS, 2019). In terms of services, the top services imported by St Lucia from the rest of the world were business services, transport, travel, insurance and pension services and intellectual property (ITC Trade Map, 2019). Therefore, if you’re a UK business exporting these goods or services, St Lucia may be a good market for you.

Ease of doing business

93rd

out of 190 countries (World Bank, 2018)

Currency

Eastern Caribbean dollar

Business language

English

GDP per capita

$10,755

UK is $42,558 (IMF, 2018)

Economic growth

0.9%

(IMF, 2018)

Time zone

GMT -4

Next steps

DIT can advise you on doing business abroad, and help put you in touch with other people who can help such as lawyers and distributors.