Economy - overview:
Grenada relies on tourism and revenue generated by St. George’s University - a private university offering degrees in medicine, veterinary medicine, public health, the health sciences, nursing, arts and sciences, and business - as its main source of foreign exchange. In the past two years the country expanded its sources of revenue, including from selling passports under its citizenship by investment program. These projects produced a resurgence in the construction and manufacturing sectors of the economy.

In 2017, Grenada experienced its fifth consecutive year of growth and the government successfully marked the completion of its five-year structural adjustment program that included among other things austerity measures, increased tax revenue and debt restructuring. Public debt-to-GDP was reduced from 100% of GDP in 2013 to 71.8% in 2017.

GDP (purchasing power parity):
$1.634 billion (2017 est.)
$1.555 billion (2016 est.)
$1.5 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world (CIA rank, may be based on non-current data): 198
[see also: GDP country ranks ]

GDP (official exchange rate):
$1.119 billion (2017 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
5.1% (2017 est.)
3.7% (2016 est.)
6.4% (2015 est.)
country comparison to the world (CIA rank, may be based on non-current data): 46
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$15,100 (2017 est.)
$14,500 (2016 est.)
$14,000 (2015 est.)
note: data are in 2017 dollars
country comparison to the world (CIA rank, may be based on non-current data): 110
[see also: GDP - per capita country ranks ]

Gross national saving:
11.7% of GDP (2017 est.)
17% of GDP (2016 est.)
13.9% of GDP (2015 est.)
country comparison to the world (CIA rank, may be based on non-current data): 153
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 63% (2017 est.)
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 12% (2017 est.)
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 20% (2017 est.)
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: -0.1% (2017 est.)
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 60% (2017 est.)
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -55% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 6.8% (2017 est.)
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 15.5% (2017 est.)
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 77.7% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
bananas, cocoa, nutmeg, mace, soursop, citrus, avocados, root crops, corn, vegetables, fish

Industries:
food and beverages, textiles, light assembly operations, tourism, construction, education, call-center operations

Industrial production growth rate:
10% (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 16
[see also: Industrial production growth rate country ranks ]

Labor force:
55,270 (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 189
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 11%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 20%
[see also: Labor force - by occupation - industry country ranks ]
services: 69% (2008 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
24% (2017 est.)
28.2% (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 195
[see also: Unemployment rate country ranks ]

Population below poverty line:
38% (2008 est.)
[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: 288.4 million (2017 est.)
[see also: Budget - revenues country ranks ]
expenditures: 252.3 million (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
25.8% (of GDP) (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 116
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
3.2% (of GDP) (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 12
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
70.4% of GDP (2017 est.)
82% of GDP (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 50
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
0.9% (2017 est.)
1.7% (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 45
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
6.5% (31 December 2009)
6.5% (31 December 2008)
country comparison to the world (CIA rank, may be based on non-current data): 59
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
8.31% (31 December 2017 est.)
8.64% (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 101
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$223.3 million (31 December 2017 est.)
$214 million (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 182
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$223.3 million (31 December 2017 est.)
$214 million (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 185
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$550 million (31 December 2017 est.)
$566.3 million (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 176
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
NA
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$77 million (2017 est.)
-$34 million (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 83
[see also: Current account balance country ranks ]

Exports:
$39.9 million (2017 est.)
$44.2 million (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 205
[see also: Exports country ranks ]

Exports - partners:
US 25.3%, Japan 10.1%, Guyana 8.7%, Dominica 6.6%, St. Lucia 6.4%, Netherlands 4.7%, Barbados 4.1%, St. Kitts and Nevis 4% (2017)

Exports - commodities:
nutmeg, bananas, cocoa, fruit and vegetables, clothing, mace, chocolate, fish

Imports:
$316 million (2017 est.)
$314.7 million (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 203
[see also: Imports country ranks ]

Imports - commodities:
food, manufactured goods, machinery, chemicals, fuel

Imports - partners:
US 31.7%, Trinidad and Tobago 24.9%, China 6.7% (2017)

Reserves of foreign exchange and gold:
$199.1 million (31 December 2017 est.)
$198 million (31 December 2015 est.)
country comparison to the world (CIA rank, may be based on non-current data): 175
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$793.5 million (2017 est.)
$682.3 million (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 169
[see also: Debt - external country ranks ]

Exchange rates:
East Caribbean dollars (XCD) per US dollar -
2.7 (2017 est.)
2.7 (2016 est.)
2.7 (2015 est.)
2.7 (2014 est.)
2.7 (2013 est.)