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Saint Pierre and Miquelon Economy 2019

SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES











Saint Pierre and Miquelon Economy 2019
SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 08, 2019

Economy - 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 of disputes with Canada over fishing quotas and a steady decline in the number of ships stopping at Saint Pierre. The services sector accounted for 86% of GDP in 2010, the last year data is available for. Government employment accounts for than 46% of the GDP, and 78% of the population is working age.

The government hopes an expansion of tourism will boost economic prospects. Fish farming, crab fishing, and agriculture are being developed to diversify the local economy. Recent test drilling for oil may pave the way for development of the energy sector. Trade is the second largest sector in terms of value added created, where it contributes significantly to economic activity. The extractive industries and energy sector is the third largest sector of activity in the archipelago, attributable in part to the construction of a new thermal power plant in 2015.

GDP (purchasing power parity):
$261.3 million (2015 est.)
$215.3 million (2006 est.)
note: supplemented by annual payments from France of about $60 million
country comparison to the world: 218
[see also: GDP country ranks ]

GDP (official exchange rate):
$261.3 million (2015 est.) (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
NA
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$46,200 (2006 est.)
$34,900 (2005)
country comparison to the world: 36
[see also: GDP - per capita country ranks ]

GDP - composition, by sector of origin:
agriculture: 2% (2006 est.)
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 15% (2006 est.)
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 83% (2006 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
vegetables; poultry, cattle, sheep, pigs; fish

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

Industrial production growth rate:
NA
[see also: Industrial production growth rate country ranks ]

Labor force:
4,429 (2015)
country comparison to the world: 224
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 18%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 41%
[see also: Labor force - by occupation - industry country ranks ]
services: 41% (1996 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
8.7% (2015 est.)
9.9% (2008 est.)
country comparison to the world: 125
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
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 ]

Budget:
revenues: 70 million (1996 est.)
[see also: Budget - revenues country ranks ]
expenditures: 60 million (1996 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
26.8% (of GDP) (1996 est.)
country comparison to the world: 104
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
3.8% (of GDP) (1996 est.)
country comparison to the world: 10
[see also: Budget surplus (+) or deficit (-) country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
1.5% (2015)
4.5% (2010)
country comparison to the world: 85
[see also: Inflation rate (consumer prices) country ranks ]

Exports:
$6.641 million (2010 est.)
$5.5 million (2005 est.)
country comparison to the world: 217
[see also: Exports country ranks ]

Exports - commodities:
fish and fish products, soybeans, animal feed, mollusks and crustaceans, fox and mink pelts

Imports:
$95.35 million (2010 est.)
$68.2 million (2005 est.)
country comparison to the world: 216
[see also: Imports country ranks ]

Imports - commodities:
meat, clothing, fuel, electrical equipment, machinery, building materials

Debt - external:
NA
[see also: Debt - external country ranks ]

Exchange rates:
euros (EUR) per US dollar -
0.885 (2017 est.)
0.903 (2016 est.)
0.9214 (2015 est.)
0.885 (2014 est.)
0.7634 (2013 est.)

NOTE: 1) The information regarding Saint Pierre and Miquelon on this page is re-published from the 2019 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Saint Pierre and Miquelon Economy 2019 information contained here. All suggestions for corrections of any errors about Saint Pierre and Miquelon Economy 2019 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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