Economy in Guadeloupe

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Economy—overview: The economy depends on agriculture tourism light industry and services. It is also dependent upon 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 (1995 est.)

GDP—real growth rate: NA%

GDP—per capita: purchasing power parity—$9 200 (1995 est.)

GDP—composition by sector:

agriculture: 6%

industry: 9%

services: 85% (1993 est.)

Inflation rate—consumer price index: 3.7% (1990)

Labor force:

total: 128 000

by occupation: agriculture 15% industry 20% services 65% (1993)

Unemployment rate: 31.3% (1995)

Budget:

revenues: $300 million

expenditures: $460 million including capital expenditures of $90 million (1995)

Industries: construction cement rum sugar tourism

Industrial production growth rate: NA%

Electricity—capacity: 388 000 kW (1995)

Electricity—production: 1 billion kWh (1995)

Electricity—consumption per capita: 2 483 kWh (1995)

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

Exports:

total value: $145 million (f.o.b. 1994)

commodities: bananas sugar rum

partners: France 75% Martinique 13% (1994)

Imports:

total value: $1.6 billion (c.i.f. 1994)

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

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

Debt—external: $NA

Economic aid:

recipient: ODA $NA

note: substantial annual French and European Union subsidies

Currency: 1 Euro (€) = 100 centimes

Exchange rates: 1 € =  1.2970 US$ (March 2005)
French francs (F) per US$1—6.0836 (January 1998) 5.8367 (1997) 5.1155(1996) 4.9915 (1995) 5.5520 (1994) 5.6632 (1993)

Fiscal year: calendar year

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