Virgin Islands Virgin Islands Background During the 17th century, the archipelago was divided into two territorial units, one English and the other Danish. Sugarcane, produced by slave labor, drove the islands' economy during the 18th and early 19th centuries. In 1917, the US purchased the Danish portion, which had been in economic decline since the abolition of slavery in 1848. Virgin Islands 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, textiles, electronics, pharmaceuticals, and watch assembly. 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. The government is working to improve fiscal discipline, support construction projects in the private sector, expand tourist facilities, reduce crime, and protect the environment. Virgin Islands Location Caribbean, islands between the Caribbean Sea and the North Atlantic Ocean, east of Puerto Rico Virgin Islands Flag white, with a modified US coat of arms in the center between the large blue initials V and I; the coat of arms shows a yellow eagle holding an olive branch in one talon and three arrows in the other with a superimposed shield of vertical red and white stripes below a blue panel
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