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Guadeloupe Economy 1996

Overview:

The economy depends on agriculture, tourism, light industry, and services. It is also dependent upon France for large subsidies and imports. Tourism is a key industry, with most tourists from the US. In addition, an increasingly large number of cruise ships visit the islands. The traditionally important sugarcane crop is slowly being replaced by other crops, such as bananas (which now supply about 50% of export earnings), eggplant, and flowers. Other vegetables and root crops are cultivated for local consumption, although Guadeloupe is still dependent on imported food, which comes mainly from France. Light industry consists mostly of sugar and rum production. Most manufactured goods and fuel are imported. Unemployment is especially high among the young.

National product:

GDP - purchasing power parity - $3.8 billion (1993 est.)

National product real growth rate:

NA%

National product per capita:

$9,000 (1993 est.)

Inflation rate (consumer prices):

3.7% (1990)

Unemployment rate:

31.3% (1990)

Budget:

revenues:

$400 million

expenditures:

$671 million, including capital expenditures of $NA (1989)

Exports:

$130 million (f.o.b., 1992)

commodities:

bananas, sugar, rum

partners:

France 70%, Martinique 17% (1991)

Imports:

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

commodities:

foodstuffs, fuels, vehicles, clothing and other consumer goods, construction materials

partners:

France 60%, EC, US, Japan (1991)

External debt:

$NA

Industrial production:

growth rate NA%

Electricity:

capacity:

320,000 kW

production:

650 million kWh

consumption per capita:

1,421 kWh (1993)

Industries:

construction, cement, rum, sugar, tourism

Agriculture:

cash crops - bananas, sugarcane; other products include tropical fruits and vegetables; livestock - cattle, pigs, goats; not self-sufficient in food

Economic aid:

recipient:

US commitments, including Ex-Im (FY70-88), $4 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-89), $8.235 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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