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French Polynesia (overseas territory of France) Economy

    Economy—overview: Since 1962, when France stationed military personnel in the region, French Polynesia has changed from a subsistence economy to one in which a high 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 primary source of hard currency earnings. The small manufacturing sector primarily processes agricultural products. The territory benefited from a five-year (1994-98) development agreement with France aimed principally at creating new jobs.

    GDP: purchasing power parity—$2.6 billion (1997 est.)

    GDP—real growth rate: NA%

    GDP—per capita: purchasing power parity—$10,800 (1997 est.)

    GDP—composition by sector:
    agriculture: 4%
    industry: 18%
    services: 78% (1997)

    Population below poverty line: NA%

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

    Inflation rate (consumer prices): 1.5% (1994)

    Labor force: 118,744 (of which 70,044 are employed) (1988)

    Labor force—by occupation: agriculture 13%, industry 19%, services 68% (1997)

    Unemployment rate: 15% (1992 est.)

    Budget:
    revenues: $652 million
    expenditures: $613 million, including capital expenditures of $155 million (1996)

    Industries: tourism, pearls, agricultural processing, handicrafts

    Industrial production growth rate: NA%

    Electricity—production: 350 million kWh (1996)

    Electricity—production by source:
    fossil fuel: 57.14%
    hydro: 42.86%
    nuclear: 0%
    other: 0% (1996)

    Electricity—consumption: 350 million kWh (1996)

    Electricity—exports: 0 kWh (1996)

    Electricity—imports: 0 kWh (1996)

    Agriculture—products: coconuts, vanilla, vegetables, fruits; poultry, beef, dairy products

    Exports: $212 million (f.o.b., 1996)

    Exports—commodities: cultured pearls 53.8%, coconut products, mother-of-pearl, vanilla, shark meat (1992)

    Exports—partners: France 33%, US 8.5% (1994)

    Imports: $860 million (c.i.f., 1996)

    Imports—commodities: fuels, foodstuffs, equipment

    Imports—partners: France 44.7%, US 13.9% (1994)

    Debt—external: $NA

    Economic aid—recipient: $450.4 million (1995)

    Currency: 1 Comptoirs Francais du Pacifique franc (CFPF) = 100 centimes

    Exchange rates: Comptoirs Francais du Pacifique francs (CFPF) per US$1—102.72 (January 1999), 107.25 (1998), 106.11 (1997), 93.00 (1996), 90.75 (1995), 100.94 (1994); note—linked at the rate of 18.18 to the French franc

    Fiscal year: calendar year

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