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    Martinique Economy - 1990

      Overview: The economy is based on sugarcane, bananas, tourism, and light industry. Agriculture accounts for about 7% of GDP and the small industrial sector for 10%. Sugar production has declined, with most of the sugarcane now used for the production of rum. Banana exports are increasing, however, going mostly to France. The bulk of meat, vegetable, and grain requirements must be imported, contributing to a chronic trade deficit that requires large annual transfers of aid from France. Tourism has become more important than agricultural exports as a source of foreign exchange. The majority of the work force is employed in the service sector and in administration. In 1984 the annual per capita income was relatively high at $3,650. During 1985 the unemployment rate was between 25% and 30% and was particularly severe among younger workers.

      GDP: $1.3 billion, per capita $3,650; real growth rate NA% (1984)

      Inflation rate (consumer prices): 3.4% (1986)

      Unemployment rate: 25-30% (1985)

      Budget: revenues $223 million; expenditures $223 million, including capital expenditures of $NA (1987 est.)

      Exports: $209 million (f.o.b., 1986); commodities--refined petroleum products, bananas, rum, pineapples; partners--France 65%, Guadeloupe 26% (1986)

      Imports: $879 million (c.i.f., 1986); commodities--petroleum products, foodstuffs, construction materials, vehicles, clothing and other consumer goods; partners--France 64% (1986)

      External debt: $NA

      Industrial production: growth rate NA%

      Electricity: 108,000 kW capacity; 330 million kWh produced, 990 kWh per capita (1989)

      Industries: construction, rum, cement, oil refining, sugar, tourism

      Agriculture: accounts for about 7% of GDP; principal crops--pineapples, avocados, bananas, flowers, vegetables, and sugarcane for rum; dependent on imported food, particularly meat and vegetables

      Aid: Western (non-US) countries, ODA and OOF bilateral commitments (1970-87), $9.8 billion

      Currency: French franc (plural--francs); 1 French franc (F) = 100 centimes

      Exchange rates: French francs (F) per US$1--5.7598 (January 1990), 6.3801 (1989), 5.9569 (1988), 6.0107 (1987), 6.9261 (1986), 8.9852 (1985)

      Fiscal year: calendar year

      NOTE: The information regarding Martinique on this page is re-published from the 1990 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Martinique Economy 1990 information contained here. All suggestions for corrections of any errors about Martinique Economy 1990 should be addressed to the CIA.

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    Revised 07-Feb-03
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