Economy - overview:
Grenada relies on tourism as its main source of foreign exchange especially since the construction of an international airport in 1985. Hurricanes Ivan (2004) and Emily (2005) severely damaged the agricultural sector - particularly nutmeg and cocoa cultivation - which had been a key driver of economic growth. Grenada has rebounded from the devastating effects of the hurricanes but is now saddled with the debt burden from the rebuilding process. Public debt-to-GDP is nearly 110%, leaving the THOMAS administration limited room to engage in public investments and social spending. Strong performances in construction and manufacturing, together with the development of tourism and an offshore financial industry, have also contributed to growth in national output; however, economic growth was stagnant in 2010 after a sizeable contraction in 2009, because of the global economic slowdown's effects on tourism and remittances.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Budget: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Oil - proved reserves: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Debt - external: Exchange rates:
NOTE: The information regarding Grenada on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Grenada Economy 2011 information contained here. All suggestions for corrections of any errors about Grenada Economy 2011 should be addressed to the CIA.
$1.127 billion (2010 est.)
country comparison to the world: 198
note:
data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]
$645 million (2009 est.)
[see also: GDP (official exchange rate) country ranks ]
0.8% (2010 est.)
country comparison to the world: 184
[see also: GDP - real growth rate country ranks ]
$10,500 (2010 est.)
country comparison to the world: 109
note:
data are in 2010 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 5.4%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
18%
[see also: GDP - composition by sector - industry country ranks ]
services:
76.6% (2003)
[see also: GDP - composition by sector - services country ranks ]
42,300 (1996)
country comparison to the world: 193
[see also: Labor force country ranks ]
agriculture: 24%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
14%
[see also: Labor force - by occupation - industry country ranks ]
services:
62% (1999 est.)
[see also: Labor force - by occupation - services country ranks ]
12.5% (2000)
country comparison to the world: 132
[see also: Unemployment rate country ranks ]
32% (2000)
[see also: Population below poverty line country ranks ]
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
NA%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
revenues: $175.3 million
[see also: Budget - revenues country ranks ]
expenditures:
$215.9 million (1997)
[see also: Budget - expenditures country ranks ]
3.7% (2007 est.)
country comparison to the world: 106
[see also: Inflation rate (consumer prices) country ranks ]
6.5% (31 December 2009)
country comparison to the world: 68
[see also: Central bank discount rate country ranks ]
11.06% (31 December 2009 est.)
country comparison to the world: 97
[see also: Commercial bank prime lending rate country ranks ]
$123.1 million (31 December 2009)
[see also: Stock of narrow money country ranks ]
$743.5 million (31 December 2009)
[see also: Stock of broad money country ranks ]
$658 million (31 December 2008 est.)
country comparison to the world: 161
[see also: Stock of domestic credit country ranks ]
$NA
[see also: Market value of publicly traded shares country ranks ]
bananas, cocoa, nutmeg, mace, citrus, avocados, root crops, sugarcane, corn, vegetables
food and beverages, textiles, light assembly operations, tourism, construction
178.7 million kWh (2007 est.)
country comparison to the world: 180
[see also: Electricity - production country ranks ]
155.7 million kWh (2007 est.)
country comparison to the world: 182
[see also: Electricity - consumption country ranks ]
0 kWh (2008 est.)
[see also: Electricity - exports country ranks ]
0 kWh (2008 est.)
[see also: Electricity - imports country ranks ]
0 bbl/day (2009 est.)
country comparison to the world: 192
[see also: Oil - production country ranks ]
3,000 bbl/day (2009 est.)
country comparison to the world: 182
[see also: Oil - consumption country ranks ]
0 bbl/day (2007 est.)
country comparison to the world: 153
[see also: Oil - exports country ranks ]
1,923 bbl/day (2007 est.)
country comparison to the world: 177
[see also: Oil - imports country ranks ]
0 bbl (1 January 2010 est.)
country comparison to the world: 176
[see also: Oil - proved reserves country ranks ]
0 cu m (2008 est.)
country comparison to the world: 106
[see also: Natural gas - production country ranks ]
0 cu m (2008 est.)
country comparison to the world: 151
[see also: Natural gas - consumption country ranks ]
0 cu m (2008 est.)
country comparison to the world: 72
[see also: Natural gas - exports country ranks ]
0 cu m (2008 est.)
country comparison to the world: 171
[see also: Natural gas - imports country ranks ]
0 cu m (1 January 2010 est.)
country comparison to the world: 174
[see also: Natural gas - proved reserves country ranks ]
-$138 million (2007 est.)
country comparison to the world: 81
[see also: Current account balance country ranks ]
$38 million (2006)
country comparison to the world: 202
[see also: Exports country ranks ]
bananas, cocoa, nutmeg, fruit and vegetables, clothing, mace
Saint Lucia 19.73%, Antigua and Barbuda 13.41%, US 12.21%, Saint Kitts and Nevis 12.03%, Dominica 12% (2009)
$343 million (2006)
country comparison to the world: 191
[see also: Imports country ranks ]
food, manufactured goods, machinery, chemicals, fuel
Trinidad and Tobago 39.76%, US 18.11% (2009)
$347 million (2004)
country comparison to the world: 168
[see also: Debt - external country ranks ]
East Caribbean dollars (XCD) per US dollar - 2.7 (2007), 2.7 (2006), 2.7 (2005), 2.7 (2004), 2.7 (2003)
This page was last modified 09-Feb-11