Reunion Economy 1997

Economy - overview The economy has traditionally been based on agriculture. Sugarcane hasbeen the primary crop for more than a century, and in some years it accountsfor 85% of exports. The government has been pushing the development of a touristindustry to relieve high unemployment, which recently amounted to one-thirdof the labor force. The gap in Reunion between the well-off and the poor isextraordinary and accounts for the persistent social tensions. The white andIndian communities are substantially better off than other segments of thepopulation, often approaching European standards, whereas indigenous groupssuffer the poverty and unemployment typical of the poorer nations of the Africancontinent. The outbreak of severe rioting in February 1991 illustrates theseriousness of socioeconomic tensions. The economic well-being of Reuniondepends heavily on continued financial assistance from France.

GDP purchasing power parity - $2.9 billion (1995 est.)

GDP - real growth rate 2.7% (1995 est.)

GDP - per capita purchasing power parity - $4,300 (1995 est.)

GDP - composition by sector
agriculture: NA%
industry : NA%
services: NA%

Inflation rate - consumer price index NA%

Labor force
total: 242,169 (1993)
by occupation: agriculture 30%, industry 21%, services 49% (1981)

Unemployment rate 35% (1994)

Budget
revenues: $NA
expenditures: $NA

Industries sugar, rum, cigarettes, handicraft items

Industrial production growth rate NA%

Electricity - capacity NA kW

Electricity - production 1.09 billion kWh (1994)

Electricity - consumption per capita 1,670 kWh (1994)

Agriculture - products sugarcane, vanilla, tobacco, tropical fruits, vegetables, corn

Exports
total value: $171.776 million (f.o.b., 1994)
commodities: sugar 63%, rum and molasses 4%, perfume essences 2%, lobster 3%, (1993)
partners: France, Mauritius, Bahrain, South Africa, Italy, Madagascar

Imports
total value: $2.354 billion (c.i.f., 1994)
commodities : manufactured goods, food, beverages, tobacco, machinery and transportationequipment, raw materials, and petroleum products
partners: France, Mauritius, Bahrain, South Africa, Italy, Madagascar

Debt - external $NA

Economic aid
recipient: substantial annual subsidies from France

Currency 1 French franc (F) = 100 centimes

Exchange rates French francs (F) per US$1 - 5.4169 (January 1997), 5.1155 (1996), 4.9915(1995), 5.5520 (1994), 5.6632 (1993), 5.2938 (1992)

Fiscal year calendar year

NOTE: The information regarding Reunion 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 Reunion Economy 1997 information contained here. All suggestions for corrections of any errors about Reunion Economy 1997 should be addressed to the CIA.