French Polynesia Economy Profile 2000

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 one-fourth 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)

purchasing power parity - $2.6 billion (1997 est.)

GDP - real growth rate

NA%

GDP - per capita (PPP)

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:$1 billion
expenditures:$900 million, including capital expenditures of $185 million (1996)

Industries

tourism, pearls, agricultural processing, handicrafts

Industrial production growth rate

NA%

Electricity - production

360 million kWh (1998)

Electricity - production by source

fossil fuel:59.72%
hydro:40.28%
nuclear:0%
other:0% (1998)

Electricity - consumption

335 million kWh (1998)

Electricity - exports

0 kWh (1998)

Electricity - imports

0 kWh (1998)

Agriculture - products

coconuts, vanilla, vegetables, fruits; poultry, beef, dairy products

Exports

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

Exports - commodities

cultured pearls 50%, coconut products, mother-of-pearl, vanilla, shark meat (1997)

Exports - partners

US 11%, France 6% (1997)

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 - 117.67 (January 2000), 111.93 (1999), 107.25 (1998), 106.11 (1997), 93.00 (1996), 90.75 (1995); note - linked at the rate of 18.18 CFPFs to the French franc

Fiscal year

calendar year