Grenada Economy:
Grenada relies on tourism as its main source of foreign exchange, especially since the construction of an international airport in 1985. Strong performances in construction and manufacturing, together with the development of an offshore financial industry, have also contributed to growth in national output.
GDP (purchasing power parity):
$440 million (2002 est.)
GDP — real growth rate:
2.5% (2002 est.)
GDP — per capita:
purchasing power parity: $5,000 (2002 est.)
GDP — composition by sector:
agriculture: 7.7%
industry: 23.9%
services: 68.4%
(2000)
Labor force:
42,300 (1996 est.)
Labor force — by occupation:
agriculture: 24%, industry: 14%, services: 62% (1999 est.)
Unemployment rate:
12.5% (2000 est.)
Population below poverty line:
32% (2000 est.)
Household income or consumption by percentage share:
lowest 10%: NA
highest 10%: NA
Inflation rate (consumer prices):
2.8% (2001 est.)
Budget:
revenues: $85.8 million (1997 est.)
expenditures: $102.1 million including capital expenditures of $28 million (1997 est.)
Agriculture — products:
Bananas, cocoa, nutmeg, mace, citrus, avocados, root crops, sugarcane, corn, vegetables
Industries:
food and beverages, textiles, light assembly operations, tourism, construction
Industrial production growth rate:
0.7% (1997 est.)
Electricity — production:
149 million kWh (2002 est.)
Electricity — consumption:
138.6 million kWh (2002 est.)
Electricity — exports:
0 kWh (2002 est.)
Electricity — imports:
0 kWh (2002 est.)
Oil — production:
0 bbl/day (2001 est.)
Oil — consumption:
1,000 bbl/day (2001 est.)
Oil — exports:
NA
Oil — imports:
NA
Exports:
$46 million (2002 est.)
Exports — commodities:
bananas, cocoa, nutmeg, fruit and vegetables, , clothing, mace
Exports — partners:
Saint Lucia 12.7%, US 12.2%, Antigua and Barbuda 8.7%, Netherlands 7.9%, Saint Kitts and Nevis 7.8%, Dominica 7.8%, Germany 7.1%, France 4.6% (2004)
Imports:
$208 million (2002 est.)
Imports — commodities:
food, manufactured goods, machinery, chemicals, fuel
Imports — partners:
Trinidad and Tobago 29.6%, US 27.8%, UK 4.8% (2004)
Debt — external:
$196 million (2000 est.)
Economic aid — recipient:
$8.3 million (1995 est.)
Currency:
East Caribbean dollar (XCD)
Exchange rates:
East Caribbean dollars per US$: 2.7 (2004 est.), 2.7 (2003 est.), 2.7 (2002 est.), 2.7 (2001 est.), 2.7 (2000 est.)
Fiscal year:
calendar year
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