Saint Pierre and Miquelon Economy - 2023

Economic overview

high-income, French North American territorial economy; primarily fishing exports; substantial French Government support; highly seasonal labor force; euro user; increasing tourism and aquaculture investments

Real 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

Real GDP growth rate

N/A

Real GDP per capita

$46,200 (2006 est.)

$34,900 (2005)

GDP (official exchange rate)

$261.3 million (2015 est.)

Inflation rate (consumer prices)

1.5% (2015)

4.5% (2010)

GDP - composition, by sector of origin

agriculture: 2% (2006 est.)

industry: 15% (2006 est.)

services: 83% (2006 est.)

Agricultural products

vegetables; poultry, cattle, sheep, pigs; fish

Industries

fish processing and supply base for fishing fleets; tourism

Industrial production growth rate

N/A

Labor force

4,429 (2015)

Labor force - by occupation

agriculture: 18%

industry: 41%

services: 41% (1996 est.)

Unemployment rate

8.7% (2015 est.)

9.9% (2008 est.)

Population below poverty line

N/A

Household income or consumption by percentage share

lowest 10%: NA

highest 10%: NA

Budget

revenues: $70 million (1996 est.)

expenditures: $60 million (1996 est.)

Budget surplus (+) or deficit (-)

3.8% (of GDP) (1996 est.)

Taxes and other revenues

26.8% (of GDP) (1996 est.)

Fiscal year

calendar year

Exports

$6.641 million (2010 est.)

$5.5 million (2005 est.)

Exports - partners

Canada 79%, France 8%, Belgium 6% (2019)

Exports - commodities

crustaceans, fish, medical instruments, electrical parts, pasta (2019)

Imports

$95.35 million (2010 est.)

$68.2 million (2005 est.)

Imports - partners

France 69%, Canada 22% (2019)

Imports - commodities

food preparation, packaged medicines, low-voltage protection equipment, cars, computers, iron structures (2019)

Debt - external

N/A

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.)