Saint Vincent and the Grenadines have no significant natural resources. Imported oil covers most of the energy needs. The transport sector is the largest energy consumer.
Electricity is extracted from the many water flows on the island of Saint Vincent, where a first hydropower plant was built as early as the 1950s. Some incineration of waste and other materials also produces electricity. The government secured a loan from abroad in 2016 to build a geothermal plant.
COUNTRYAAH: Major exports by St. Vincent and The Grenadines with a full list of the top products exported by the country. Includes trade value in U.S. dollars and the percentage for each product category.
A Canadian company began drilling in 2005 for oil outside the archipelago. The same year, Saint Vincent and the Grenadines joined the Venezuelan oil partnership Petrocaribe, which means that the country buys Venezuelan oil on favorable terms.
The extensive boat traffic around the islands creates environmental problems due to emissions. In their places, the pollution is so extensive that a bathing ban has been introduced.
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