Home

Economy of Grenada

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):$982 million (2006 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 - production by source:fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (2001)
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
Oil - imports:NA bbl/day
Oil - proved reserves:0 bbl
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 17.2%, Antigua and Barbuda 11.7%, Saint Kitts & Nevis 10.5%, Dominica 10.5%, US 10.4%, Venezuela 4.7%, Barbados 4.5% (2006)
Imports:$276 million (2004 est.)
Imports - commodities:food, manufactured goods, machinery, chemicals, fuel
Imports - partners:Trinidad and Tobago 32.3%, US 23.2%, Barbados 4.6%, UK 4.1% (2006)
Debt - external:$347 million (2004)
Economic aid - recipient:$15.4 million (2004)
Currency (code):East Caribbean dollar (XCD)
Currency code:XCD
Exchange rates:East Caribbean dollars per US dollar - 2.7 (2006), 2.7 (2005), 2.7 (2004), 2.7 (2003), 2.7 (2002)
Fiscal year:calendar year

Grenada Quickstats

  • Population: 89,971 (July 2007 est.)
  • Area: 344 sq km
  • Density: 259.5 /km² (45th)
  • GDP (total): $440 million (210th)
  • GDP (per capita): $5,0001 (134th)
  • Literacy: 96%

Languages of Grenada

Useful to know

  • Currency: East Caribbean Dollar (XCD)
  • Dial code: +1 473

International Trade

External sites

More Resources

Grenada Internet

  • Usage: 8,000
  • Penetration: 8.0 %
  • Top Domain: .gj

WT eBusiness info:

  • Success Ranking: 100
  • Market testing: Untested
  • Overall risk: High
  • Overall reward: Low

e-maturity:

  • Tourism: 10%
  • eCommerce: 10%
  • Gaming: 10%
  • eLearning: 10%

Recent blog posts