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First settled by the French in the early 17th century, the islands represent the sole remaining vestige of France's once vast North American possessions.


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Economy

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. In 1992, an arbitration panel awarded the islands an exclusive economic zone of 12,348 sq km to settle a longstanding territorial dispute with Canada, although it represents only 25% of what France had sought. France heavily subsidizes the islands to the great betterment of living standards. 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.

Gdp (purchasing power parity) World Ranking: 222
$48.3 million (2003 est.)
Note
Supplemented by annual payments from France of about $60 million

Gdp (official exchange rate)
$NA

Gdp - real growth rate
NA%

Gdp - per capita (ppp) World Ranking: 135
$7,000 (2001 est.)

Gdp - composition by sector
Agriculture NA%
Industry NA%
Services NA%

Labor force World Ranking: 223
3,450 (2005)

Labor force - by occupation
Agriculture 18%
Industry 41%
Services 41% (1996 est.)

Unemployment rate World Ranking: 114
10.3% (1999)

Population below poverty line
NA%

Household income or consumption by percentage share
Lowest 10% NA%
Highest 10% NA%

Budget
Revenues $70 million
Expenditures $60 million (1996 est.)

Inflation rate (consumer prices) World Ranking: 171
8.1% (2005)

Agriculture - products
Vegetables; poultry, cattle, sheep, pigs; fish

Industries
Fish processing and supply base for fishing fleets; tourism

Industrial production growth rate
NA%

Electricity - production World Ranking: 199
53 million kWh (2008 est.)

Electricity - consumption World Ranking: 201
49.29 million kWh (2008 est.)

Electricity - exports
0 kWh (2009 est.)

Electricity - imports
0 kWh (2009 est.)

Oil - production World Ranking: 131
0 bbl/day (2010 est.)

Oil - consumption World Ranking: 194
1,000 bbl/day (2010 est.)

Oil - exports World Ranking: 193
0 bbl/day (2009 est.)

Oil - imports World Ranking: 196
584 bbl/day (2009 est.)

Oil - proved reserves World Ranking: 184
0 bbl (1 January 2011 est.)

Natural gas - production World Ranking: 118
0 cu m (2009 est.)

Natural gas - consumption World Ranking: 124
0 cu m (2009 est.)

Natural gas - exports World Ranking: 169
0 cu m (2009 est.)

Natural gas - imports World Ranking: 119
0 cu m (2009 est.)

Natural gas - proved reserves World Ranking: 120
0 cu m (1 January 2011 est.)

Exports World Ranking: 215
$5.5 million (2005 est.)

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

Imports World Ranking: 214
$68.2 million (2005 est.)

Imports - commodities
Meat, clothing, fuel, electrical equipment, machinery, building materials

Debt - external
$NA

Exchange rates
Euros (EUR) per US dollar -
0.7194 (2011 est.)
0.755 (2010 est.)
0.7198 (2009 est.)
0.6827 (2008 est.)
0.7345 (2007 est.)

Fiscal year
Calendar year


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Saint Pierre And Miquelon [ France ] (Overseas Territory):
Country Flag
Country Locator

GPS points from Saint Pierre And Miquelon [ France ] (Overseas Territory)

square Les Sept Etangs Saint Pierre And Miquelon (general)

square Ruisseau Dupont Saint Pierre And Miquelon (general)

square Basse Gelin Saint Pierre And Miquelon (general)

square Pointe Du Ouest Saint Pierre And Miquelon (general)

square Le Dome Saint Pierre And Miquelon (general)

square Ruisseau De La Carcasse Saint Pierre And Miquelon (general)

square Devalee Des Pineaux Saint Pierre And Miquelon (general)

square Marais Du Bois Brule Saint Pierre And Miquelon (general)




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