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 (official exchange rate):
$454 million (2005)

GDP - real growth rate:
0.9% (2005 est.)

GDP - per capita (PPP):
$3,900 (2005 est.)

GDP - composition by sector:
agriculture: 5.4%
industry: 18%
services: 76.6% (2003)

Labor force:
42,300 (1996)

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

Unemployment rate:
12.5% (2000)

Population below poverty line:
32% (2000)

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

Inflation rate (consumer prices):
3% (2005 est.)

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

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 (2001)

Oil - imports:
NA bbl/day (2001)

Natural gas - production:
0 cu m (2004 est.)

Natural gas - consumption:
0 cu m (2004 est.)

Exports:
$40 million (2004 est.)

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

Exports - partners:
Saint Lucia 12.2%, US 11.4%, Antigua and Barbuda 8.3%, Germany 8%, Netherlands 7.9%, Saint Kitts & Nevis 7.4%, Dominica 7.4%, UK 6.8%, France 4.2% (2005)

Imports:
$276 million (2004 est.)

Imports - commodities:
food, manufactured goods, machinery, chemicals, fuel

Imports - partners:
Trinidad and Tobago 27.6%, US 26.8%, UK 5.9% (2005)

Debt - external:
$347 million (2004)

Economic aid - recipient:
$15.4 million (2004)

Currency (code):
East Caribbean dollar (XCD)

Exchange rates:
East Caribbean dollars per US dollar - 2.7 (2005), 2.7 (2004), 2.7 (2003), 2.7 (2002)