Economy of Guadeloupe

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The economy of Guadeloupe depends on agriculture, tourism, light industry, and services. It also depends on France for large subsidies and imports.

Tourism is a key industry; 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. Hurricanes periodically devastate the economy.

[edit] Economic data

GDP: purchasing power parity - $3,513 billion (2003 est.)

GDP - real growth rate: NA%

GDP - per capita: purchasing power parity - $7 900 (2003 est.)

GDP - composition by sector:
agriculture: 15%
industry: 17%
services: 68% (2002 est.)

Population below poverty line: NA%

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

Labour force: 125,900 (1997)

Labour force - by occupation: agriculture 15%, industry 20%, services 65% (2002)

Unemployment rate: 27.8% (1998)

Budget:
revenues: $296,3 million
expenditures: $296,3 million, including capital expenditures of $112,5 million (1996)

Industries: construction, cement, rum, sugar, tourism

Industrial production growth rate: NA%

Electricity - production: 1,165 kWh (2003)

Electricity - production by source:
fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (1998)

Electricity - consumption: 1,084 TWh (2003)

Electricity - exports: 0 kWh (2003)

Electricity - imports: 0 kWh (2003)

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

Exports: $140 million (f.o.b., 1997)

Exports - commodities: bananas, sugar, rum

Exports - partners: France 60%, Martinique 18%, US 4% (1997)

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

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

Imports - partners: France 63%, Germany 4%, US 3%, Japan 2%, Netherlands Antilles 2% (1997)

Debt - external: $NA

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

Currency: 1 Euro (currency sign: €; banking code: EUR) = 100 cents

Exchange rates: euros per US$1 - 1, 3002 (February 2005), 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