Guadeloupe/Economy

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Economy - overview: The economy depends on agriculture, tourism, light industry, and services. It also depends on France for large subsidies and imports. Tourism is a key industry, with most tourists from the US; an increasingly large number of cruise ships visit the islands. The traditional 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, mainly from France. Light industry features sugar and rum production. Most manufactured goods and fuel are imported. Unemployment is especially high among the young. Hurricanes periodically devastate the economy.

GDP: purchasing power parity - $3.7 billion (1996 est.)

GDP - real growth rate: NA%

GDP - per capita: purchasing power parity - $9,000 (1996 est.)

GDP - composition by sector:
agriculture: 6%
industry: 9%
services: 85% (1993 est.)

Population below poverty line: NA%

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

Inflation rate (consumer prices): NA

Labor force: 125,900 (1997)

Labor force - by occupation: agriculture 15%, industry 17%, services 68% (1997)

Unemployment rate: 27.8% (1998)

Budget:
revenues: $225 million
expenditures: $390 million, including capital expenditures of $105 million (1996)

Industries: construction, cement, rum, sugar, tourism

Industrial production growth rate: NA%

Electricity - production: 1.22 billion kWh (1998)

Electricity - production by source:
fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (1998)

Electricity - consumption: 1.135 billion kWh (1998)

Electricity - exports: 0 kWh (1998)

Electricity - imports: 0 kWh (1998)

Agriculture - products: bananas, sugarcane, tropical fruits and vegetables; cattle, pigs, goats

Exports: $140 million (f.o.b., 1997)

Exports - commodities: bananas, sugar, rum

Exports - partners: France 60%, Martinique 18%, US 4% (1997)

Imports: $1.7 billion (c.i.f., 1997)

Imports - commodities: foodstuffs, fuels, vehicles, clothing and other consumer goods, construction materials

Imports - partners: France 63%, Germany 4%, US 3%, Japan 2%, Netherlands Antilles 2% (1997)

Debt - external: $NA

Economic aid - recipient: $NA; note - substantial annual French subsidies

Currency: 1 French franc (F) = 100 centimes

Exchange rates: euros per US$1 - 0.9867 (January 2000), 0.9386 (1999); French francs (F) per US$1 - 5.65 (January 1999), 5.8995 (1998), 5.8367 (1997), 5.1155(1996), 4.9915 (1995)

Fiscal year: calendar year