French Polynesia Economy 1997

Economy - overview Since 1962, when France stationed military personnel in the region,French Polynesia has changed from a subsistence economy to one in which ahigh proportion of the work force is either employed by the military or supports the tourist industry. Tourism accounts for about 20% of GDP and is a primarysource of hard currency earnings. The territory will continue to benefit froma five-year (1994-98) development agreement with France aimed principallyat creating new jobs.

GDP purchasing power parity - $1.76 billion (1995 est.)

GDP - real growth rate NA%

GDP - per capita purchasing power parity - $8,000 (1995 est.)

GDP - composition by sector
agriculture: 4%
industry: 18%
services: 78% (1992 est.)

Inflation rate - consumer price index 1.5% (1994)

Labor force
total: 118,744 (of which 70,044 are employed) (1988)
by occupation : agriculture 13%, industry 19%, services 68% (1992 est.)

Unemployment rate 15% (1992 est.)

Budget
revenues: $713 million
expenditures : $1.36 billion, including capital expenditures of $NA (1994)

Industries tourism, pearls, agricultural processing, handicrafts

Industrial production growth rate NA%

Electricity - capacity NA kW

Electricity - production 320 million kWh (1994)

Electricity - consumption per capita 1,409 kWh (1995 est.)

Agriculture - products coconuts, vanilla, vegetables, fruits; poultry, beef, dairy products

Exports
total value: $245 million (f.o.b., 1994)
commodities : cultured pearls 53.8%, coconut products, mother-of-pearl, vanilla, sharkmeat (1992)
partners: France 33%, US 8.5% (1994)

Imports
total value: $967 million (c.i.f., 1994)
commodities : fuels, foodstuffs, equipment
partners: France 44.7%, US 13.9% (1994)

Debt - external $NA

Economic aid
recipient : ODA, $NA

Currency 1 CFP franc (CFPF) = 100 centimes

Exchange rates Comptoirs Francais du Pacifique francs (CFPF) per US$1 - 98.48 (January1997), 93.00 (1996), 90.75 (1995), 100.94 (1994), 102.96 (1993), 96.24 (1992);note - linked at the rate of 18.18 to the French franc

Fiscal year calendar year

NOTE: The information regarding French Polynesia on this page is re-published from the 1997 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of French Polynesia Economy 1997 information contained here. All suggestions for corrections of any errors about French Polynesia Economy 1997 should be addressed to the CIA.