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French Polynesia Economy Profile 2017

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Economy - overviewSince 1962, when France stationed military personnel in the region, French Polynesia has changed from a subsistence agricultural economy to one in which a high proportion of the work force is either employed by the military or supports the tourist industry. With the halt of French nuclear testing in 1996, the military contribution to the economy fell sharply.

After growing at an average yearly rate of 4.2% from 1997-2007, the economic and financial crisis in 2008 marked French Polynesia’s entry into recession. However, since 2014, French Polynesia has shown signs of recovery. Business turnover reached 1.8% year-on-year in September 2016, tourism increased 1.8% in 2015, and GDP grew 2.0% in 2015.

French Polynesia’s tourism-dominated service sector accounted for 85% of total value added for the economy in 2012. Tourism employs 17% of the workforce. Pearl farming is the second biggest industry in French Polynesia, accounting for 54% of exports in 2015; however, the output has decreased to 12.5 tons – the lowest level since 2008. A small manufacturing sector predominantly processes commodities from French Polynesia’s primary sector - 8% of total economy in 2012 - including agriculture and fishing.

France has agreed to finance infrastructure, marine businesses, and cultural and ecological sites at roughly $80 million per year between 2015 and 2020. Japan, the US, and China are French Polynesia’s three largest trade partners.
GDP (purchasing power parity)$5.49 billion (2015 est.)
$5.383 billion (2014 est.)
$6.963 billion (2010 est.)
GDP (official exchange rate)$4.795 billion (2012 est.)
GDP - real growth rate2% (2015 est.)
-2.7% (2014 est.)
-2.5% (2010 est.)
GDP - per capita (PPP)$17,000 (2015 est.)
$20,100 (2014 est.)
$22,700 (2010)
GDP - composition, by end usehousehold consumption: 66.9%
government consumption: 33.6%
investment in fixed capital: 19.4%
exports of goods and services: 17.5%
imports of goods and services: 17.5%
GDP - composition by sectoragriculture: 2.5%
industry: 13%
services: 84.5% (2009)
Population below poverty line19.7% (2009 est.)
Labor force126,300 (2016 est.)
Labor force - by occupationagriculture: 13%
industry: 19%
services: 68% (2013)
Unemployment rate21.8% (2012)
11.7% (2010)
Unemployment, youth ages 15-24total: 34.2%
male: 31.4%
female: 38.5% (2007 est.)
Household income or consumption by percentage sharelowest 10%: NA%
highest 10%: NA%
Budgetrevenues: $1.891 billion
expenditures: $1.833 billion (2011)
Taxes and other revenues26.4% of GDP (2012)
Budget surplus (+) or deficit (-)0.8% of GDP (2012)
Inflation rate (consumer prices)0% (2015 est.)
0.3% (2014 est.)
Stock of broad money$3.81 billion (2015 est.)
Market value of publicly traded shares$NA
Agriculture - productscoconuts, vanilla, vegetables, fruits, coffee; poultry, beef, dairy products; fish
Industriestourism, pearls, agricultural processing, handicrafts, phosphates
Industrial production growth rateNA%
Current Account Balance$207.7 million (2014 est.)
$158.8 million (2013 est.)
Exports$1.245 billion (2014 est.)
$1.168 billion (2013 est.)
Exports - commoditiescultured pearls, coconut products, mother-of-pearl, vanilla, shark meat
Exports - partnersJapan 35%, US 24%, Hong Kong 17%, France 9.1%, China 4.2% (2014)
Imports$2.235 billion (2014 est.)
$2.271 billion (2013 est.)
Imports - commoditiesfuels, foodstuffs, machinery and equipment
Imports - partnersFrance 24%, South Korea 10%, China 9.6%, USA 9.3%, New Zealand 8.5%, Singapore 8.2%, Australia 4% (2014)
Debt - external$NA
Stock of direct foreign investment - at home$905 million (2015 est.)
$822.3 million (2014 est.)
Stock of direct foreign investment - abroad$349.3 million (2015)
$310.8 million (2014 est.)
Exchange ratesComptoirs Francais du Pacifique francs (XPF) per US dollar -
89.85 (2013 est.)
90.56 (2012 est.)
Fiscal yearcalendar year

Source: CIA World Factbook
This page was last updated on July 9, 2017