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 the number of ships stopping at Saint Pierre has dropped steadily over the years. 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. The islands are heavily subsidized by France. Imports come primarily from Canada and France.

GDP purchasing power parity - $74 million (1996 est.)

GDP - real growth rate NA%

GDP - per capita purchasing power parity - $11,000 (1996 est.)

GDP - composition by sector
agriculture: NA%
industry: NA%
services: NA%

Inflation rate - consumer price index NA%

Labor force
total: 2,971 (1995)
by occupation: NA

Unemployment rate 11% (1996)

Budget
revenues: $28 million
expenditures: $28 million, including capital expenditures of $7.8 million (1992 est.)

Industries fish processing and supply base for fishing fleets; tourism

Industrial production growth rate NA%

Electricity - capacity 27,000 kW (1995)

Electricity - production 42 million kWh (1995)

Electricity - consumption per capita 6,216 kWh (1995)

Agriculture - products vegetables; cattle, sheep, pigs; fish catch of 14,800 metric tons (1994)

Exports
total value: $5 million (f.o.b., 1995)
commodities: fish and fish products, fox and mink pelts
partners: US 58%, France 17%, UK 11%, Canada, Portugal (1990)

Imports
total value: $70.2 million (c.i.f., 1995)
commodities: meat, clothing, fuel, electrical equipment, machinery, building materials
partners: Canada, France, US, Netherlands, UK

Debt - external $NA

Economic aid
recipient: ODA, $NA

Currency 1 French franc (F) = 100 centimes

Exchange rates French francs (F) per US$1 - 6.0836 (January 1998), 5.8367 (1997), 5.1155 (1996), 4.9915 (1995), 5.5520 (1994), 5.6632 (1993)

Fiscal year calendar year

NOTE: The information regarding Saint Pierre and Miquelon on this page is re-published from the 1998 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Saint Pierre and Miquelon Economy 1998 information contained here. All suggestions for corrections of any errors about Saint Pierre and Miquelon Economy 1998 should be addressed to the CIA.