French Polynesia Economy - 2024

Economic overview

small, territorial-island tourism-based economy; large French financing; lower EU import duties; Pacific Islands Forum member; fairly resilient from COVID-19; oil-dependent infrastructure

Real GDP (purchasing power parity)

$5.65 billion (2021 est.)
$5.52 billion (2020 est.)
$5.94 billion (2019 est.)

note: data are in 2015 dollars

Real GDP growth rate

1.02% (2021 est.)
-10% (2020 est.)
2.42% (2019 est.)

Real GDP per capita

$18,600 (2021 est.)
$18,300 (2020 est.)
$19,800 (2019 est.)

note: data are in 2015 dollars

GDP (official exchange rate)

$4.795 billion (2015 est.)

Inflation rate (consumer prices)

0% (2015 est.)
0.3% (2014 est.)

GDP - composition, by sector of origin

agriculture: 2.5% (2009)

industry: 13% (2009)

services: 84.5% (2009)

GDP - composition, by end use

household consumption: 66.9% (2014 est.)

government consumption: 33.6% (2014 est.)

investment in fixed capital: 19.4% (2014 est.)

investment in inventories: 0.1% (2014 est.)

exports of goods and services: 17.5% (2014 est.)

imports of goods and services: -37.5% (2014 est.)

Agricultural products

coconuts, fruit, roots/tubers, pineapples, cassava, sugar cane, eggs, tropical fruit, tomatoes

Industries

tourism, pearls, agricultural processing, handicrafts, phosphates

Industrial production growth rate

N/A

Labor force

130,100 (2021 est.)

Unemployment rate

14.39% (2021 est.)
14.1% (2020 est.)
12.3% (2019 est.)

Youth unemployment rate (ages 15-24)

total: 38.9% (2021 est.)

male: 35.4%

female: 43.9%

Population below poverty line

19.7% (2009 est.)

Household income or consumption by percentage share

lowest 10%: NA

highest 10%: NA

Remittances

10.19% of GDP (2020 est.)
9.69% of GDP (2019 est.)
9.48% of GDP (2018 est.)

Budget

revenues: $1.891 billion (2012)

expenditures: $1.833 billion (2011)

Budget surplus (+) or deficit (-)

1.2% (of GDP) (2012)

Taxes and other revenues

39.4% (of GDP) (2012)

Fiscal year

calendar year

Current account balance

$411.963 million (2016 est.)
$158.8 million (2013 est.)

Exports

$162 million (2021 est.)
$94.4 million (2020 est.)
$184 million (2019 est.)

Exports - partners

United States 47%, Japan 17%, France 14%, Netherlands 4%, Poland 3% (2021)

Exports - commodities

paintings, pearls, tuna, aircraft parts, coconut oil, vanilla, electrical panels (2021)

Imports

$1.66 billion (2021 est.)
$1.75 billion (2020 est.)
$2.24 billion (2019 est.)

Imports - partners

France 43%, New Zealand 12%, China 8%, United States 6%, Singapore 5% (2021)

Imports - commodities

refined petroleum, cars, packaged medicines, broadcasting equipment, passenger ships (2021)

Debt - external

N/A

Exchange rates

Comptoirs Francais du Pacifique francs (XPF) per US dollar -

Exchange rates:
100.88 (2021 est.)
104.711 (2020 est.)
106.589 (2019 est.)
101.047 (2018 est.)
105.633 (2017 est.)