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    Grenada Economy - 2002
    http://www.greekorthodoxchurch.org/wfb2002/grenada/grenada_economy.html
    SOURCE: 2002 CIA WORLD FACTBOOK

      Economy - overview Despite government steadying of annual economic growth in recent years through progress in fiscal reform and prudent macroeconomic management, a downturn in tourist arrivals in 2001 threatens government spending in 2002. Grenada relies on tourism as its main source of foreign exchange, although it also supports a small agriculture sector and a developing offshore financial industry. Short-term concerns include a rising fiscal deficit and the deterioration in the external account balance.

      GDP purchasing power parity - $424 million (2001 est.)

      GDP - real growth rate 6.5% (2001 est.)

      GDP - per capita purchasing power parity - $4,750 (2001 est.)

      GDP - composition by sector
      agriculture: 7.7%
      industry: 23.9%
      services: 68.4% (2000)

      Population below poverty line NA%

      Household income or consumption by percentage share
      lowest 10%: NA%
      highest 10%: NA%

      Inflation rate (consumer prices) 2.8% (2001 est.)

      Labor force 42,300 (1996)

      Labor force - by occupation services 62%, agriculture 24%, industry 14% (1999 est.)

      Unemployment rate 11.5% (1999)

      Budget
      revenues: $85.8 million
      expenditures: $102.1 million, including capital expenditures of $28 million (1997)

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

      Industrial production growth rate 0.7% (1997 est.)

      Electricity - production 110 million kWh (2000)

      Electricity - production by source
      fossil fuel: 100%
      hydro: 0%
      other: 0% (2000)
      nuclear: 0%

      Electricity - consumption 102.3 million kWh (2000)

      Electricity - exports 0 kWh (2000)

      Electricity - imports 0 kWh (2000)

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

      Exports $78 million (2000 est.)

      Exports - commodities bananas, cocoa, nutmeg, fruit and vegetables, clothing, mace

      Exports - partners Caricom 32.3%, UK 20%, US 13%, Netherlands 8.8% (1991)

      Imports $270 million (2000 est.)

      Imports - commodities food, manufactured goods, machinery, chemicals, fuel (1989)

      Imports - partners US 31.2%, Caricom 23.6%, UK 13.8%, Japan 7.1% (1991)

      Debt - external $196 million (2000)

      Economic aid - recipient $8.3 million (1995)

      Currency East Caribbean dollar (XCD)

      Currency code XCD

      Exchange rates East Caribbean dollars per US dollar - 2.7000 (fixed rate since 1976)

      Fiscal year calendar year

      NOTE: The information regarding Grenada on this page is re-published from the 2002 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Grenada Economy 2002 information contained here. All suggestions for corrections of any errors about Grenada Economy 2002 should be addressed to the CIA.

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    Revised 30-Jan-03
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