| Economy - overview | US national defense spending is the main driver of Guam’s economy, followed closely by tourism and other services. Guam serves as a forward US base for the Western Pacific and is home to thousands of American military personnel. Total federal spending (defense and non-defense) amounted to $1.988 billion in 2016, or 34.2 of Guam’s GDP. Of that total, federal grants and cover-over payments amounted to $3444.1 million in 2016, or 35.8% of Guam’s total revenues for the fiscal year. In 2016, Guam’s economy grew 0.3%. Despite slow growth, Guam’s economy has been stable over the last decade. National defense spending cushions the island’s economy against fluctuations in tourism. Service exports, mainly spending by foreign tourists in Guam, amounted to over $1 billion for the first time in 2016, or 17.8% of GDP. |
| GDP (purchasing power parity) | $5.793 billion (2016 est.) $5.697 billion (2015 est.) $5.531 billion (2014 est.) |
| GDP (official exchange rate) | $5.793 billion (2016 est.) |
| GDP - real growth rate | 0.4% (2016 est.) 0.5% (2015 est.) 1.6% (2014 est.) |
| GDP - per capita (PPP) | $35,600 (2016 est.) $35,200 (2015 est.) $34,400 (2014 est.) |
| GDP - composition, by end use | household consumption: 56.2% (2016 est.) government consumption: 55% (2016 est.) investment in fixed capital: 20.6% (2016 est.) investment in inventories: NA (2016 est.) exports of goods and services: 19.4% (2016 est.) imports of goods and services: -51.2% (2016 est.) |
| GDP - composition by sector | agriculture: NA industry: NA services: 58.4% NA (2015 est.) |
| Population below poverty line | 23% (2001 est.) |
| Labor force | 73,210 (2016 est.) note: includes only the civilian labor force |
| Labor force - by occupation | agriculture: 0.3% industry: 21.6% services: 78.1% (2013 est.) |
| Unemployment rate | 4.5% (2017 est.) 3.9% (2016 est.) |
| Unemployment, youth ages 15-24 | total: 29.4% male: 29.7% female: 28.9% (2011 est.) |
| Household income or consumption by percentage share | lowest 10%: NA highest 10%: NA |
| Budget | revenues: 1.24 billion (2016 est.) expenditures: 1.299 billion (2016 est.) |
| Taxes and other revenues | 21.4% (of GDP) (2016 est.) |
| Budget surplus (+) or deficit (-) | -1% (of GDP) (2016 est.) |
| Public debt | 22.1% of GDP (2016 est.) 32.1% of GDP (2013) |
| Inflation rate (consumer prices) | 1% (2017 est.) 0% (2016 est.) |
| Agriculture - products | fruits, copra, vegetables; eggs, pork, poultry, beef |
| Industries | national defense, tourism, construction, transshipment services, concrete products, printing and publishing, food processing, textiles |
| Industrial production growth rate | NA |
| Exports | $1.124 billion (2016 est.) $1.046 billion (2015 est.) |
| Exports - commodities | scrap iron, electric batteries, gas turbines, scrap copper, beauty products (2019) |
| Exports - partners | South Korea 31%, Hong Kong 27%, Taiwan 18%, Philippines 7% (2019) |
| Imports | $2.964 billion (2016 est.) $3.054 billion (2015 est.) |
| Imports - commodities | refined petroleum, trunks/cases, cars, insulated wire, broadcasting equipment (2019) |
| Imports - partners | Singapore 33%, Japan 21%, South Korea 18%, Hong Kong 9%, Malaysia 6% (2019) |
| Debt - external | NA |
| Exchange rates | the US dollar is used |
| Fiscal year | 1 October - 30 September |
Source: CIA World Factbook
This page was last updated on September 18, 2021
