GRENADA

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Grenada Economy

Country Name: Grenada

Capital City: Saint George's

Population: 89,971 (July 2007 est.)

Population Growth: 0.336% (2007 est.)

Currency: East Caribbean dollar (XCD)

Languages: English

Area:

Inflation Rate: 3% (2005 est.)

Unemployment Rate: 12.5% (2000)

Domain extension:

ECONOMIC DETAILS OF GRENADA

ECONOMY OVERVIEW
Grenada relies on tourism as its main source of foreign exchange, especially since the construction of an international airport in 1985. Strong performances in construction and manufacturing, together with the development of an offshore financial industry, have also contributed to growth in national output.

GDP - purchasing power parity:

$440 million (2002 est.)

GDP - real growth rate:

0.9% (2005 est.)

GDP - per capita:

$3,900 (2005 est.)

GDP - by sector (agriculture):

agriculture: 5.4%

GDP - by sector (industry):

industry: 18%

GDP - by sector (services):

services: 76.6% (2003)

Export Partners:

Saint Lucia 17.2%, Antigua and Barbuda 11.7%, Saint Kitts & Nevis 10.5%, Dominica 10.5%, US 10.4%, Venezuela 4.7%, Barbados 4.5% (2006)

Import Partners:

Trinidad and Tobago 32.3%, US 23.2%, Barbados 4.6%, UK 4.1% (2006)

Export Commodities:

bananas, cocoa, nutmeg, fruit and vegetables, clothing, mace

Import Commodities:

food, manufactured goods, machinery, chemicals, fuel

Exports Volume:

$40 million (2004 est.)

Imports Volume:

$276 million (2004 est.)

Labour Force:

42,300 (1996)

Unemployment Rate:

12.5% (2000)

Population below poverty line:

32% (2000)

Inflation Rate:

3% (2005 est.)

Investment (gross fixed):

Public Debt:

Agriculture Products:

bananas, cocoa, nutmeg, mace, citrus, avocados, root crops, sugarcane, corn, vegetables

Industries:

food and beverages, textiles, light assembly operations, tourism, construction

Industrial Production Growth Rate:

0.7% (1997 est.)

Electricity - production:

171.3 million kWh (2004)

Electricity - consumption:

159.3 million kWh (2004)

Electricity - exports:

0 kWh (2004)

Electricity - imports:

0 kWh (2004)

Oil - production:

0 bbl/day (2004 est.)

Oil - consumption:

1,800 bbl/day (2004 est.)

Oil - exports:

NA bbl/day

Oil - imports:

NA bbl/day

Natural gas - production:

0 cu m (2004 est.)

Natural gas - consumption:

Natural gas - exports:

Natural gas - imports:

Current Account Balance:

Currency Code:

East Caribbean dollar (XCD)