Overview: The economy is based on US military spending and on revenues from tourism. Over the past 20 years the tourist industry has grown rapidly, creating a construction boom for new hotels and the expansion of older ones. Visitors numbered about 600,000 in 1988. The small manufacturing sector includes textile and clothing, beverage, food, and watch production. About 55% of the labor force works for the private sector and the rest for government. Most food and industrial goods are imported, with about 75% from the US. In 1988 the unemployment rate was 3%, down from 10% in 1983.

GNP: $1.0 billion, per capita $7,675; real growth rate 20% (1988 est.)

Inflation rate (consumer prices): 5.9% (1988)

Unemployment rate: 3% (1988 est.)

Budget: revenues $208.0 million; expenditures $175 million, including capital expenditures of $17 million (1987 est.)

Exports: $39 million (f.o.b., 1983); @m5commodities--mostly transshipments of refined petroleum products, copra, fish; @m5partners--US 25%, others 75%

Imports: $611 million (c.i.f., 1983); @m5commodities--mostly crude petroleum and petroleum products, food, manufactured goods; @m5partners--US 77%, others 23%

External debt: $NA

Industrial production: growth rate NA%

Electricity: 410,000 kW capacity; 2,300 million kWh produced, 17,120 kWh per capita (1988)

Industries: US military, tourism, petroleum refining, construction, concrete products, printing and publishing, food processing, textiles

Agriculture: relatively undeveloped with most food imported; fruits, vegetables, eggs, pork, poultry, beef, copra

Aid: NA

Currency: US currency is used

Exchange rates: US currency is used

Fiscal year: 1 October-30 September

NOTE: The information regarding Guam on this page is re-published from the 1989 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Guam Economy 1989 information contained here. All suggestions for corrections of any errors about Guam Economy 1989 should be addressed to the CIA.