Antigua and Barbuda’s real gross domestic product (GDP) expanded in 2022, completing the second year of recovery since the pandemic. The favorable output performance contributed to improvements in public finance, labour market conditions, and to financial sector stability, although prices ended significantly higher. External sector operations buoyed by a strong recovery in tourism led to a narrowing of the current account deficit.

The economic outlook for 2023 is cautiously optimistic. The economic recovery should continue, albeit at a slower pace in the face of headwinds emanating from high international prices and elevated interest rates.