Severe volcanic activity, which began in July 1995, has put a damper on this small, open economy. A catastrophic eruption in June 1997 closed the airport and seaports, causing further economic and social dislocation. Two-thirds of the 12,000 inhabitants fled the island. Some began to return in 1998 but lack of housing limited the number. The agriculture sector continued to be affected by the lack of suitable land for farming and the destruction of crops.


Prospects for the economy depend largely on developments in relation to the volcanic activity and on public sector construction activity. Half of the island remains uninhabitable. In January 2013, the EU announced the disbursement of a $55.2 million aid package to Montserrat in order to boost the country's economic recovery, with a specific focus on public finance management, public sector reform, and prudent economic management.



Capital: Brades Estate
Population (estimates, 2017): 5000
Area (km2): 103
GDP per capita, PPP (current international $) 2006: 8,500  (Source)
HDI Rank (2015): not available
Personal remittances, estimate received in 2016: not available
Net Migration Rate (2015-2020):  0 migrant(s)/1,000 population (2017 est.) (Source)
Immigrants (2015): 26.4%
Women as a Percentage of Immigrants (2015): 48.5%