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Guadeloupe (overseas department of France) Economy

    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.

    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): 3.7% (1990)

    Labor force: 128,000

    Labor force—by occupation: agriculture 15%, industry 20%, services 65% (1993)

    Unemployment rate: 29.5% (1997)

    Budget:
    revenues: $200 million
    expenditures: $350 million, including capital expenditures of $NA (1997)

    Industries: construction, cement, rum, sugar, tourism

    Industrial production growth rate: NA%

    Electricity—production: 960 million kWh (1996)

    Electricity—production by source:
    fossil fuel: 100%
    hydro: 0%
    nuclear: 0%
    other: 0% (1996)

    Electricity—consumption: 960 million kWh (1996)

    Electricity—exports: 0 kWh (1996)

    Electricity—imports: 0 kWh (1996)

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

    Exports: $133 million (f.o.b., 1997)

    Exports—commodities: bananas, sugar, rum

    Exports—partners: France 75%, Martinique 13% (1994)

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

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

    Imports—partners: France 64%, EU 13%, Martinique 4%, US, Japan (1994)

    Debt—external: $NA

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

    Currency: 1 French franc (F) = 100 centimes

    Exchange rates: French francs (F) per US$1—5.65 (January 1999), 5.8995 (1998), 5.8367 (1997), 5.1155(1996), 4.9915 (1995), 5.5520 (1994)

    Fiscal year: calendar year

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Revised 1-Mar-99
Copyright © 1999 Photius Coutsoukis (all rights reserved)