had sought. The islands are heavily subsidized by France
to the great betterment of living standards. The government hopes an
expansion of tourism will boost economic prospects.

Saint Vincent and the Grenadines:
Agriculture, dominated by banana
production, is the most important sector of this lower-middle-income
economy. The services sector, based mostly on a growing tourist
industry, is also important. The government has been relatively
unsuccessful at introducing new industries, and a high unemployment
rate persists. The continuing dependence on a single crop represents
the biggest obstacle to the islands' development; tropical storms
wiped out substantial portions of crops in both 1994 and 1995. The
tourism sector has considerable potential for development over the
next decade. Recent growth has been stimulated by strong activity in
the construction sector and an improvement in tourism. There is a
small manufacturing sector and a small offshore financial sector
whose particularly restrictive secrecy laws have caused some
international concern.

Samoa:
The economy of Samoa has traditionally been dependent on
development aid, family remittances from overseas, and agricultural
exports. The country is vulnerable to devastating storms.
Agriculture employs two-thirds of the labor force, and furnishes 90%
of exports, featuring coconut cream, coconut oil, and copra. The
manufacturing sector mainly processes agricultural products. Tourism
is an expanding sector, accounting for 15% of GDP; about 85,000
tourists visited the islands in 2000. The Samoan Government has
called for deregulation of the financial sector, encouragement of
investment, and continued fiscal discipline. Observers point to the
flexibility of the labor market as a basic strength for future
economic advances. Foreign reserves are in a relatively healthy
state, the external debt is stable, and inflation is low.

San Marino:
The tourist sector contributes over 50% of GDP. In 1999
more than 3 million tourists visited San Marino. The key industries
are banking, wearing apparel, electronics, and ceramics. Main
agricultural products are wine and cheeses. The per capita level of
output and standard of living are comparable to those of the most
prosperous regions of Italy, which supplies much of its food.

Sao Tome and Principe:
This small poor island economy has become
increasingly d