Economy - overview:
The economy is based on trade. Agriculture accounts for about 6% of GDP and the small industrial sector for 11%.
SugarSugar is a class of edible crystalline substances, mainly sucrose, lactose, and fructose. Human taste buds interpret its flavor as sweet. Sugar as a basic food carbohydrate primarily comes from sugar cane and from sugar beet, but also appears in fruit, honey, sorghum, sugar maple , and in many...
production has declined, with most of the sugarcane now used for the production of
rumRum is a distilled beverage made from sugarcane by-products such as molasses and sugarcane juice by a process of fermentation and distillation. The distillate, a clear liquid, is then usually aged in oak and other barrels...
. Banana exports are increasing, going mostly to
FranceFrance , officially the French Republic , is a country located in Western Europe, with several overseas islands and territories located on other continents. Metropolitan France extends from the Mediterranean Sea to the English Channel and the North Sea, and from the Rhine to the Atlantic Ocean...
. The bulk of meat, vegetable, and grain requirements must be imported, contributing to a chronic trade deficit that requires large annual transfers of aid from France.
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Economy - overview:
The economy is based on trade. Agriculture accounts for about 6% of GDP and the small industrial sector for 11%.
SugarSugar is a class of edible crystalline substances, mainly sucrose, lactose, and fructose. Human taste buds interpret its flavor as sweet. Sugar as a basic food carbohydrate primarily comes from sugar cane and from sugar beet, but also appears in fruit, honey, sorghum, sugar maple , and in many...
production has declined, with most of the sugarcane now used for the production of
rumRum is a distilled beverage made from sugarcane by-products such as molasses and sugarcane juice by a process of fermentation and distillation. The distillate, a clear liquid, is then usually aged in oak and other barrels...
. Banana exports are increasing, going mostly to
FranceFrance , officially the French Republic , is a country located in Western Europe, with several overseas islands and territories located on other continents. Metropolitan France extends from the Mediterranean Sea to the English Channel and the North Sea, and from the Rhine to the Atlantic Ocean...
. The bulk of meat, vegetable, and grain requirements must be imported, contributing to a chronic trade deficit that requires large annual transfers of aid from France. Tourism has become more important than agricultural exports as a source of foreign exchange. The majority of the work force is employed in the service sector and in administration.
GDPThe gross domestic product or gross domestic income is a basic measure of a country's economic performance and is the market value of all final goods and services made within the borders of a country in a year...
:
real exchange rate - US$9.61 billion (in 2006)
GDP - real growth rate:
2.8% (in 2006)
GDP - per capita:
real exchange rate - US$24,118 (in 2006)
GDP - composition by sector:
agriculture:
6%
industry:
11%
services:
83% (1997 est.)
Population below povertyPoverty is the condition of lacking basic human needs such as nutrition, clean water, health care, clothing, and shelter because of the inability to afford them. This is also referred to as absolute poverty or destitution...
line:
NA%
Household income or consumption by percentage share:
lowest 10%:
NA%
highest 10%:
NA%
Labor force:
165 900 (1998)
Labor force - by occupation:
agriculture 10%, industry 17%, services 73% (1997)
Unemployment rate:
27.2% (1998)
Budget:
revenues:
$900 million
expenditures:
$2.5 billion, including capital expenditures of $140 million (1996)
Industries:
construction,
rumRum is a distilled beverage made from sugarcane by-products such as molasses and sugarcane juice by a process of fermentation and distillation. The distillate, a clear liquid, is then usually aged in oak and other barrels...
,
cementIn the most general sense of the word, a cement is a binder, a substance which sets and hardens independently, and can bind other materials together. The word "cement" traces to the Romans, who used the term "opus caementicium" to describe masonry which resembled concrete and was made from crushed...
,
petroleumPetroleum or crude oil is a naturally occurring, flammable liquid found in rock formations in the Earth consisting of a complex mixture of hydrocarbons of various molecular weights, plus other organic compounds.The term "petroleum" was first used in the treatise De Natura Fossilium, published in...
refining,
sugarSugar is a class of edible crystalline substances, mainly sucrose, lactose, and fructose. Human taste buds interpret its flavor as sweet. Sugar as a basic food carbohydrate primarily comes from sugar cane and from sugar beet, but also appears in fruit, honey, sorghum, sugar maple , and in many...
,
tourismTourism is travel for recreational, leisure or business purposes. The World Tourism Organization defines tourists as people who "travel to and stay in places outside their usual environment for more than twenty-four hours and not more than one consecutive year for leisure, business and other...
Industrial production growth rate:
NA%
ElectricityElectricity is a general term that encompasses a variety of phenomena resulting from the presence and flow of electric charge...
- production:
1,205 GWh (2003)
Electricity - production by source:
fossil fuelFossil fuels or mineral fuels are fuels formed by natural resources such as anaerobic decomposition of buried dead organisms. The age of the organisms and their resulting fossil fuels is typically millions of years, and sometimes exceeds 650 million years...
:
100%
hydro:
0%
nuclearNuclear power is power produced from controlled nuclear reactions. Commercial plants in use to date use nuclear fission reactions....
:
0%
other:
0% (1998)
Electricity - consumption:
1,000 GWh (1998)
Electricity - exports:
0 kWh (1998)
Electricity - imports:
0 kWh (1998)
Agriculture - products:
pineapplePineapple is the common name for an edible tropical plant and also its fruit. It is native to the southern part of Brazil, and Paraguay. Pineapple is eaten fresh or canned and is available as a juice or in juice combinations. It is used in desserts, salads, as a complement to meat dishes and in...
s,
avocadoThe avocado , also known as palta or aguacate , butter pear or alligator pear, is a tree native to the Caribbean, Mexico, South America and Central America, classified in the flowering plant family Lauraceae along with cinnamon, camphor and bay laurel...
s,
bananaBanana is the common name for a herbaceous plants of the genus Musa, and the commonly eaten fruit it produces. They are native to the tropical region of Southeast Asia, and are likely to have been first domesticated in Papua New Guinea. Today, they are cultivated throughout the tropics.Banana...
s,
flowerA flower, sometimes known as a bloom or blossom, is the reproductive structure found in flowering plants . The biological function of a flower is to mediate the union of male sperm with female ovum in order to produce seeds...
s,
vegetableA vegetable is an edible plant or part of a plant. However, the word is not scientific, and its meaning is largely based on culinary and cultural tradition. Therefore the application of the word is somewhat arbitrary and subjective. For example, some people consider mushrooms to be vegetables,...
s,
sugarcaneSugarcane, or sugar cane, is any of six to thirty-seven species of tall perennial grasses of the genus Saccharum . Native to warm temperate to tropical regions of Asia, they have stout, jointed, fibrous stalks that are rich in sugar, and measure two to six meters tall...
Exports:
US$957 million (in 2005)
Exports - commodities:
refined
petroleumPetroleum or crude oil is a naturally occurring, flammable liquid found in rock formations in the Earth consisting of a complex mixture of hydrocarbons of various molecular weights, plus other organic compounds.The term "petroleum" was first used in the treatise De Natura Fossilium, published in...
products, bananas, rum, pineapples
Exports - partners:
FranceFrance , officially the French Republic , is a country located in Western Europe, with several overseas islands and territories located on other continents. Metropolitan France extends from the Mediterranean Sea to the English Channel and the North Sea, and from the Rhine to the Atlantic Ocean...
45%,
GuadeloupeGuadeloupe is an archipelago located in the eastern Caribbean Sea at , with a land area of 1,628 square kilometres . It is an overseas department of France. As with the other overseas departments, Guadeloupe is also one of the twenty-six regions of France and an integral part of the Republic...
28% (1997)
Imports:
US$3,098 billion (in 2005)
Imports - commodities:
petroleum products, crude oil, foodstuffs, construction materials, vehicles, clothing and other consumer goods
Imports - partners:
FranceFrance , officially the French Republic , is a country located in Western Europe, with several overseas islands and territories located on other continents. Metropolitan France extends from the Mediterranean Sea to the English Channel and the North Sea, and from the Rhine to the Atlantic Ocean...
62%,
VenezuelaVenezuela , officially titled Bolivarian Republic of Venezuela , is a tropical country on the northern coast of South America. It is a continental mainland with numerous islands located off its coastline in the Caribbean Sea...
6%,
GermanyGermany , officially the Federal Republic of Germany , is a country in Central Europe. It is bordered to the north by the North Sea, Denmark, and the Baltic Sea; to the east by Poland and the Czech Republic; to the south by Austria and Switzerland; and to the west by France, Luxembourg, Belgium,...
4%,
ItalyItaly , officially the Italian Republic , is a country located on the Italian Peninsula in Southern Europe and on the two largest islands in the Mediterranean Sea, Sicily and Sardinia. Italy shares its northern, Alpine boundary with France, Switzerland, Austria and Slovenia...
4%,
USThe United States of America is a federal constitutional republic comprising fifty states and a federal district...
3% (1997)
Debt - external:
$180 million (1994)
Economic aid - recipient:
$NA; note - substantial annual aid from France
Currency:
1
euroThe euro is the official currency of 16 of the 27 Member States of the European Union . The states, known collectively as the Eurozone, are Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain...
(€) = 100 cents
Exchange rates:
euroThe euro is the official currency of 16 of the 27 Member States of the European Union . The states, known collectively as the Eurozone, are Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain...
s per
USThe United States of America is a federal constitutional republic comprising fifty states and a federal district...
$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