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Saint Martin Economy Profile 2017

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Economy - overviewThe economy of Saint Martin centers on tourism with 85% of the labor force engaged in this sector. Over one million visitors come to the island each year with most arriving through the Princess Juliana International Airport in Sint Maarten. The financial sector is also important to Saint Martin’s economy as it facilitates financial mediation for its thriving tourism sector. No significant agriculture and limited local fishing means that almost all food must be imported. Energy resources and manufactured goods are also imported, primarily from Mexico and the US. Saint Martin is reported to have one of the highest per capita income in the Caribbean. As with the rest of the Caribbean, Saint Martin’s financial sector is having to deal with losing correspondent banking relationships.
GDP (purchasing power parity)$561.5 million (2005 est.)
GDP (official exchange rate)$561.5 million (2005 est.)
GDP - per capita (PPP)$19,300 (2005 est.)
GDP - composition by sectoragriculture: 1%
industry: 15%
services: 84% (2000)
Labor force17,300 (2008 est.)
Labor force - by occupation85% directly or indirectly employed in tourist industry
Industriestourism, light industry and manufacturing, heavy industry
Imports - commoditiescrude petroleum, food, manufactured items
Exchange rateseuros (EUR) per US dollar -
0.9214 (2016 est.)
0.885 (2015 est.)
0.7489 (2014 est.)
0.7634 (2013 est.)
0.7752 (2012 est.)

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

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