French Polynesia Economy Profile 2009

Economy - overview

Since 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. Tourism accounts for about one-fourth of GDP and is a primary source of hard currency earnings. Other sources of income are pearl farming and deep-sea commercial fishing. The small manufacturing sector primarily processes agricultural products. The territory benefits substantially from development agreements with France aimed principally at creating new businesses and strengthening social services.

GDP (purchasing power parity)

$4.718 billion (2004 est.)
$4.58 billion (2003 est.)

GDP (official exchange rate)

$6.1 billion (2004)

GDP - real growth rate

2.7% (2005)
5.1% (2002)

GDP - per capita (PPP)

$18,000 (2004 est.)
$17,500 (2003 est.)

GDP - composition by sector

agriculture: 3.5%
industry: 20.4%
services: 76.1% (2005)

Population below poverty line

NA%

Labor force

116,000 (2007)

Labor force - by occupation

agriculture: 13%
industry: 19%
services: 68% (2002)

Unemployment rate

11.7% (2005)

Household income or consumption by percentage share

lowest 10%: NA%
highest 10%: NA%

Budget

revenues: $865 million
expenditures: $644.1 million (1999)

Inflation rate (consumer prices)

1.1% (2007)
1.1% (2006 est.)

Industries

tourism, pearls, agricultural processing, handicrafts, phosphates

Industrial production growth rate

NA%

Electricity - production

475 million kWh (2006 est.)

Electricity - production by source

fossil fuel: 60.7%
hydro: 39.3%
nuclear: 0%
other: 0% (2001)

Electricity - consumption

441.8 million kWh (2006 est.)

Electricity - exports

0 kWh (2007 est.)

Electricity - imports

0 kWh (2007 est.)

Oil - production

0 bbl/day (2007 est.)

Oil - consumption

6,082 bbl/day (2006 est.)

Oil - imports

6,271 bbl/day (2005)

Oil - exports

0 bbl/day (2005)

Oil - proved reserves

0 bbl (1 January 2006 est.)

Natural gas - production

0 cu m (2007 est.)

Natural gas - consumption

0 cu m (2007 est.)

Natural gas - exports

0 cu m (2007 est.)

Natural gas - imports

0 cu m (2007 est.)

Natural gas - proved reserves

0 cu m (1 January 2006 est.)

Agriculture - products

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

Exports

$211 million (2005 est.)

Exports - commodities

cultured pearls, coconut products, mother-of-pearl, vanilla, shark meat

Imports

$1.706 billion (2005 est.)

Imports - commodities

fuels, foodstuffs, machinery and equipment

Debt - external

$NA

Market value of publicly traded shares

$NA

Economic aid - recipient

$579.8 million (2004)

Currency (code)

Comptoirs Francais du Pacifique franc (XPF)

Currency (code)

XPF

Exchange rates

Comptoirs Francais du Pacifique francs (XPF) per US dollar - 87.59 (2007), 94.97 (2006), 95.89 (2005), 96.04 (2004), 105.66 (2003)
note: pegged at the rate of 119.25 XPF to the euro

Fiscal year

calendar year