Guadeloupe Economy Profile 2006

Economy - overview

This Caribbean economy depends on agriculture, tourism, light industry, and services. It also depends on 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. Hurricanes periodically devastate the economy.

GDP (purchasing power parity)

$3.513 billion (2003 est.)

GDP (official exchange rate)

NA

GDP - real growth rate

NA%

GDP - per capita (PPP)

$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%

Inflation rate (consumer prices)

NA%

Labor force

191,400 (1999)

Labor force - by occupation

agriculture: 15%
industry: 20%
services: 65% (2002)

Unemployment rate

26.9% (2003)

Budget

revenues: $637.7 million
expenditures: $680.1 million; including capital expenditures of $112.5 million (2002)

Industries

construction, cement, rum, sugar, tourism

Industrial production growth rate

NA%

Electricity - production

1.165 billion kWh (2003)

Electricity - consumption

1.084 billion kWh (2003)

Electricity - exports

0 kWh (2003)

Electricity - imports

0 kWh (2003)

Oil - production

0 bbl/day (2003 est.)

Oil - consumption

13,000 bbl/day (2003 est.)

Oil - exports

NA bbl/day

Oil - imports

NA bbl/day

Natural gas - production

0 cu m (2003 est.)

Natural gas - consumption

0 cu m (2003 est.)

Agriculture - products

bananas, sugarcane, tropical fruits and vegetables; cattle, pigs, goats

Exports

$147.8 million f.o.b. (2002)

Exports - commodities

bananas, sugar, rum, melons, spring water

Exports - partners

France 60%, Martinique 18%, US 4% (2004)

Imports

$1.766 billion c.i.f. (2002)

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% (2004)

Debt - external

$NA

Economic aid - recipient

$NA; note - substantial annual French subsidies (2004)

Currency (code)

euro (EUR)

Exchange rates

euros per US dollar - 0.8041 (2005), 0.8054 (2004), 0.886 (2003), 1.0626 (2002), 1.1175 j(2001)

Fiscal year

calendar year