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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 will likely be stagnant in 2010 after a sizeable contraction in 2009, because of the global economic slowdown's effects on tourism and remittances.
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$1.103 billion (2009 est.)
country comparison to the world: 197
$1.194 billion (2008 est.)
$1.169 billion (2007 est.)
note:
data are in 2009 US dollars
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$615 million (2009 est.)
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-7.7% (2009 est.)
country comparison to the world: 203
2.2% (2008 est.)
4.9% (2007 est.)
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$10,300 (2009 est.)
country comparison to the world: 103
$11,200 (2008 est.)
$11,000 (2007 est.)
note:
data are in 2009 US dollars
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agriculture: 5.4%
industry:
18%
services:
76.6% (2003)
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42,300 (1996)
country comparison to the world: 191
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agriculture: 24%
industry:
14%
services:
62% (1999 est.)
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12.5% (2000)
country comparison to the world: 133
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32% (2000)
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lowest 10%: NA%
highest 10%:
NA%
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revenues: $85.8 million
expenditures:
$102.1 million (1997)
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3.7% (2007 est.)
country comparison to the world: 119
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6.5% (31 December 2008)
country comparison to the world: 66
6.5% (31 December 2007)
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9.53% (31 December 2008)
country comparison to the world: 95
9.76% (31 December 2007)
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$141.4 million (31 December 2008)
country comparison to the world: 151
$151.2 million (31 December 2007)
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$578.1 million (31 December 2008)
country comparison to the world: 133
$533.4 million (31 December 2007)
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$658 million (31 December 2008)
country comparison to the world: 120
$575.8 million (31 December 2007)
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$NA
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bananas, cocoa, nutmeg, mace, citrus, avocados, root crops, sugarcane, corn, vegetables
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food and beverages, textiles, light assembly operations, tourism, construction
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178.7 million kWh (2007 est.)
country comparison to the world: 179
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155.7 million kWh (2007 est.)
country comparison to the world: 182
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0 kWh (2008 est.)
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0 kWh (2008 est.)
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0 bbl/day (2009 est.)
country comparison to the world: 192
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3,000 bbl/day (2009 est.)
country comparison to the world: 182
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0 bbl/day (2007 est.)
country comparison to the world: 154
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1,923 bbl/day (2007 est.)
country comparison to the world: 177
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0 bbl (1 January 2009 est.)
country comparison to the world: 176
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0 cu m (2008 est.)
country comparison to the world: 106
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0 cu m (2008 est.)
country comparison to the world: 151
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0 cu m (2008 est.)
country comparison to the world: 72
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0 cu m (2008 est.)
country comparison to the world: 171
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0 cu m (1 January 2009 est.)
country comparison to the world: 172
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-$138 million (2007 est.)
country comparison to the world: 79
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$38 million (2006)
country comparison to the world: 201
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bananas, cocoa, nutmeg, fruit and vegetables, clothing, mace
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Saint Lucia 19.73%, Antigua and Barbuda 13.41%, US 12.21%, Saint Kitts and Nevis 12.03%, Dominica 12% (2009)
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$343 million (2006)
country comparison to the world: 190
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food, manufactured goods, machinery, chemicals, fuel
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Trinidad and Tobago 39.76%, US 18.11% (2009)
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$347 million (2004)
country comparison to the world: 164
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East Caribbean dollars (XCD) per US dollar - 2.7 (2007), 2.7 (2006), 2.7 (2005), 2.7 (2004), 2.7 (2003)
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