|
Advertisements:
EconomyEconomy - overview
Grenada relies on tourism as its main source of foreign exchange especially since the construction of an international airport in 1985. Hurricanes Ivan (2004) and Emily (2005) severely damaged the agricultural sector - particularly nutmeg and cocoa cultivation - which had been a key driver of economic growth. Grenada has rebounded from the devastating effects of the hurricanes but is now saddled with the debt burden from the rebuilding process. Public debt-to-GDP is nearly 110%, leaving the THOMAS administration limited room to engage in public investments and social spending. Strong performances in construction and manufacturing, together with the development of tourism and an offshore financial industry, have also contributed to growth in national output; however, economic growth remained stagnant in 2010-11 after a sizeable contraction in 2009, because of the global economic slowdown's effects on tourism and remittances. Gdp (purchasing power parity) World Ranking: 196
$1.468 billion (2011 est.)
$1.452 billion (2010 est.) $1.471 billion (2009 est.) Note Datum is in 2011 US dollars Gdp (official exchange rate)
$822 million (2011 est.)
Gdp - real growth rate World Ranking: 177
1.1% (2011 est.)
-1.3% (2010 est.) -5.7% (2009 est.) Gdp - per capita (ppp) World Ranking: 89
$14,100 (2011 est.)
$14,000 (2010 est.) $14,100 (2009 est.) Note Data are in 2011 US dollars Gdp - composition by sector
Agriculture 5.3%
Industry 14.2% Services 80.5% (2011 est.) Labor force World Ranking: 192
47,580 (2008)
Labor force - by occupation
Agriculture 11%
Industry 20% Services 69% (2008 est.) Unemployment rate World Ranking: 174
25% (2008)
12.5% (2000) Population below poverty line
38% (2008)
Household income or consumption by percentage share
Lowest 10% NA%
Highest 10% NA% Budget
Revenues $175.3 million
Expenditures $215.9 million (2009 est.) Taxes and other revenues World Ranking: 151
21.3% of GDP (2009 est.)
Budget surplus (+) or deficit (-) World Ranking: 155
-4.9% of GDP (2009 est.)
Inflation rate (consumer prices) World Ranking: 98
4% (2011 est.)
3.5% (2010 est.) Central bank discount rate World Ranking: 51
6.5% (31 December 2009)
6.5% (31 December 2008) Commercial bank prime lending rate World Ranking: 85
10.69% (31 December 2011 est.)
10.6% (31 December 2010 est.) Stock of narrow money World Ranking: 179
$173.5 million (31 December 2011 est.) $126.8 million (31 December 2010 est.) Stock of broad money World Ranking: 171
$771.3 million (31 December 2011 est.) $766.9 million (31 December 2010 est.) Stock of domestic credit World Ranking: 165
$745 million (31 December 2011 est.) $715.7 million (31 December 2010 est.) Market value of publicly traded shares
$NA
Agriculture - products
Bananas, cocoa, nutmeg, mace, citrus, avocados, root crops, sugarcane, corn, vegetables Industries
Food and beverages, textiles, light assembly operations, tourism, construction Electricity - production World Ranking: 177
195.4 million kWh (2009 est.)
Electricity - consumption World Ranking: 184
177.4 million kWh (2009 est.)
Electricity - exports
0 kWh (2009 est.)
Electricity - imports
0 kWh (2009 est.)
Oil - production World Ranking: 177
0 bbl/day (2010 est.)
Oil - consumption World Ranking: 180
3,000 bbl/day (2010 est.)
Oil - exports World Ranking: 159
0 bbl/day (2009 est.)
Oil - imports World Ranking: 178
1,913 bbl/day (2009 est.)
Oil - proved reserves World Ranking: 137
0 bbl (1 January 2011 est.)
Natural gas - production World Ranking: 187
0 cu m (2009 est.)
Natural gas - consumption World Ranking: 182
0 cu m (2009 est.)
Natural gas - exports World Ranking: 107
0 cu m (2009 est.)
Natural gas - imports World Ranking: 198
0 cu m (2009 est.)
Natural gas - proved reserves World Ranking: 182
0 cu m (1 January 2011 est.)
Current account balance World Ranking: 79
-$174.8 million (2009 est.)
-$230.5 million (2010 est.) Exports World Ranking: 201
$38.69 million (2009 est.)
$30.26 million (2010 est.) Exports - commodities
Nutmeg, bananas, cocoa, fruit and vegetables, clothing, mace Exports - partners
St. Lucia 19.9%, Antigua and Barbuda 13.5%, St. Kitts and Nevis 12.2%, Dominica 12.1%, US 10.2% (2011) Imports World Ranking: 199
$284.4 million (2010 est.)
$252.8 million Imports - commodities
Food, manufactured goods, machinery, chemicals, fuel Imports - partners
Trinidad and Tobago 43.4%, US 19.1% (2011) Debt - external World Ranking: 167
$531 million (2009)
$347 million (2004) Exchange rates
East Caribbean dollars (XCD) per US dollar - 2.7 (2011 est.)2.7 (2010 est.) 2.7 (2009) Fiscal year
Calendar year
Comments
Add a new comment: |
Advertisement
Members area
Grenada (Saint George's):
GPS points from Grenada (Saint George's)
La Pastora Estate Saint David
Morne Rouge Beach Saint George
Nianganfoix Saint Andrew
Annandale Saint George
Ravine La Chausse Saint David
Crochu River Saint Andrew
Palmiste Saint John
Queens Park Saint George |