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US VIRGIN
ISLANDS
U.S. Virgin Islands
The Virgin Islands of the United States is a group of islands in the
Caribbean that is a dependency of the United States. These islands are
geographically part of the Virgin Islands.
History
During the 18th century, Europeans divided the archipelago into two
territorial units, one English and the other Danish. Sugarcane, produced by
slave labour, drove the islands' economy during the 18th and early 19th
centuries.
During the submarine warfare phases of the
First World War, the USA feared that these islands might be seized by
Germany as a submarine base. Accordingly, the USA approached Denmark to sell
the islands to the USA. On January 17, 1917, the United States bought the
Danish West Indies for $25 million and took possession of the islands on
March 31. The Danish Crown may have felt pressure to accept the sale,
thinking that the USA would seize the islands, if Denmark was invaded by
Germany. US citizenship was later granted to the inhabitants of the islands
in 1927. This part of the islands had been in economic decline since the
abolition of slavery in 1848.
Geography
The U.S. Virgin Islands consist of three main islands: Saint Thomas, Saint
John, and Saint Croix. Numerous additional small islands also are a part of
the territory. The islands of Culebra and Vieques are often considered
related to the Virgin Islands and are within view over the horizon. However,
these latter two islands are governed as part of the United States
Commonwealth of Puerto Rico.
Economy
Tourism is the primary economic activity, accounting for more than 70% of
GDP and 70% of employment. The islands normally host 2 million visitors a
year. The manufacturing sector consists of petroleum refining, textile,
electronics, pharmaceutical, and watch assembly plants. The agricultural
sector is small, with most food being imported. International business and
financial services are a small but growing component of the economy. One of
the world's largest petroleum refineries is at Saint Croix. The islands are
subject to substantial damage from storms.
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