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French Guiana Economy 1996

Overview:

The economy is tied closely to that of France through subsidies and imports. Besides the French space center at Kourou, fishing and forestry are the most important economic activities, with exports of fish and fish products (mostly shrimp) accounting for more than 60% of total revenue in 1992. The large reserves of tropical hardwoods, not fully exploited, support an expanding sawmill industry that provides sawn logs for export. Cultivation of crops - rice, cassava, bananas, and sugarcane - is limited to the coastal area, where the population is largely concentrated. French Guiana is heavily dependent on imports of food and energy. Unemployment is a serious problem, particularly among younger workers.

National product:

GDP - purchasing power parity - $800 million (1993 est.)

National product real growth rate:

NA%

National product per capita:

$6,000 (1993 est.)

Inflation rate (consumer prices):

2.5% (1992)

Unemployment rate:

13% (1990)

Budget:

revenues:

$735 million

expenditures:

$735 million, including capital expenditures of $NA (1987)

Exports:

$59 million (f.o.b., 1992)

commodities:

shrimp, timber, rum, rosewood essence

partners:

France 52%, Spain 15%, US 5% (1992)

Imports:

$1.5 billion (c.i.f., 1992)

commodities:

food (grains, processed meat), other consumer goods, producer goods, petroleum

partners:

France 77%, Germany 11%, US 5% (1992)

External debt:

$1.2 billion (1988)

Industrial production:

growth rate NA%

Electricity:

capacity:

180,000 kW

production:

450 million kWh

consumption per capita:

3,149 kWh (1993)

Industries:

construction, shrimp processing, forestry products, rum, gold mining

Agriculture:

some vegetables for local consumption; rice, corn, manioc, cocoa, bananas, sugar; livestock - cattle, pigs, poultry

Illicit drugs:

small amount of marijuana grown for local consumption

Economic aid:

recipient:

Western (non-US) countries, ODA and OOF bilateral commitments (1970-89), $1.51 billion

Currency:

1 French franc (F) = 100 centimes

Exchange rates:

French francs (F) per US$1 - 5.9243 (January 1995), 5.5520 (1994), 5.6632 (1993), 5.2938 (1992), 5.6421 (1991), 5.4453 (1990)

Fiscal year:

calendar year

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