. Index
. 1996 Index
. Flag
. Geography
. People
. Government
. Economy
. Transportation
. Commun'tions
. Defense
. Geo Names
. Feedback
===========
|
Grenada Economy 1996
The economy is essentially agricultural and centers on the traditional
production of spices and tropical plants. Agriculture accounts for about 15%
of GDP and 80% of exports and employs 24% of the labor force. Tourism is the
leading foreign exchange earner, followed by agricultural exports.
Manufacturing remains relatively undeveloped, but is expected to grow, given
a more favorable private investment climate since 1983. The economy achieved
an impressive average annual growth rate of 5.5% in 1986-91 but has stalled
since 1992. Unemployment remains high at about 25%.
GDP - purchasing power parity - $258 million (1993 est.)
-
National product real growth rate:
-
National product per capita:
-
Inflation rate (consumer prices):
$82.2 million (1993 est.)
$74.3 million, including capital expenditures of $11.8 million (1993 est.)
$18.6 million (f.o.b., 1993 est.)
bananas, cocoa, nutmeg, fruit and vegetables, clothing, mace
Netherlands, UK, Trinidad and Tobago, United States
$133.8 million (f.o.b., 1993 est.)
food 25%, manufactured goods 22%, machinery 20%, chemicals 10%, fuel 6%
(1989)
US 29%, UK, Trinidad and Tobago, Japan, Canada (1989)
growth rate 1.8% (1992 est.); accounts for 9% of GDP
food and beverage, textile, light assembly operations, tourism, construction
accounts for 14% of GDP and 80% of exports; bananas, cocoa, nutmeg, and mace
account for two-thirds of total crop production; world's second-largest
producer and fourth-largest exporter of nutmeg and mace; small-sized farms
predominate, growing a variety of citrus fruits, avocados, root crops,
sugarcane, corn, and vegetables
US commitments, including Ex-Im (FY84-89), $60 million; Western (non-US)
countries, ODA and OOF bilateral commitments (1970-89), $70 million;
Communist countries (1970-89), $32 million
1 EC dollar (EC$) = 100 cents
East Caribbean dollars (EC$) per US$1 - 2.70 (fixed rate since 1976)
|
|