Overview: The inhabitants have traditionally earned their livelihood by fishing and by servicing fishing fleets operating off the coast of Newfoundland. The economy has been declining, however, because the number of ships stopping at Saint Pierre has dropped steadily over the years. In March 1989, an agreement between France and Canada set fish quotas for Saint Pierre's trawlers fishing in Canadian and Canadian-claimed waters for three years. The agreement settles a longstanding dispute that had virtually brought fish exports to a halt. The islands are heavily subsidized by France. Imports come primarily from Canada and France.

National product: GDP - exchange rate conversion - $65 million (1992 est.)

National product real growth rate: NA%

National product per capita: $10,000 (1992 est.)

Inflation rate (consumer prices): NA%

Unemployment rate: 9.6% (1990)

Budget:
revenues: $18.3 million
expenditures: $18.3 million, including capital expenditures of $5.5 million (1989 est.)

Exports: $30 million (f.o.b., 1991 est.)
commodities: fish and fish products, fox and mink pelts
partners: US 58%, France 17%, UK 11%, Canada, Portugal (1990)

Imports: $82 million (c.i.f., 1991 est.)
commodities: meat, clothing, fuel, electrical equipment, machinery, building materials
partners: Canada, France, US, Netherlands, UK

External debt: $NA

Industrial production: growth rate NA%

Electricity:
capacity: 10,000 kW
production: 25 million kWh
consumption per capita: 3,840 kWh (1992)

Industries: fish processing and supply base for fishing fleets; tourism

Agriculture: vegetables, cattle, sheep, pigs for local consumption; fish catch of 20,500 metric tons (1989)

Economic aid:
recipient: Western (non-US) countries, ODA and OOF bilateral commitments (1970-89), $500 million

Currency: 1 French franc (F) = 100 centimes
Exchange rates: French francs (F) per US$1 - 5.9205 (January 1994), 5.6632 (1993), 5.2938 (1992), 5.6421 (1991), 5.4453 (1990), 6.3801 (1989)

Fiscal year: calendar year

NOTE: The information regarding Saint Pierre and Miquelon on this page is re-published from the 1995 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Saint Pierre and Miquelon Economy 1995 information contained here. All suggestions for corrections of any errors about Saint Pierre and Miquelon Economy 1995 should be addressed to the CIA.