nder the ship; on the hoist side, a
vertical band is divided into three parts: the top part is red with a
green diagonal cross extending to the corners overlaid by a white
cross dividing the square into four sections; the middle part has a
white background with an ermine pattern; the third part has a red
background with two stylized yellow lions outlined in black, one on
top of the other; the flag of France is used for official occasions

Economy

Economy - overview: The inhabitants have traditionally earned their
livelihood by fishing and by servicing fishing fleets operating off
the coast of Newfoundland. The economy has been declining, however,
because the number of ships stopping at Saint Pierre has dropped
steadily over the years. In 1992, an arbitration panel awarded the
islands an exclusive economic zone of 12,348 sq km to settle a
longstanding territorial dispute with Canada, although it represents
only 25% of what France had sought. The islands are heavily subsidized
by France. Imports come primarily from Canada and France.

GDP: purchasing power parity - $74 million (1996 est.)

GDP - real growth rate: NA%

GDP - per capita: purchasing power parity - $11,000 (1996 est.)

GDP - composition by sector:
agriculture: NA%
industry: NA%
services: NA%

Inflation rate - consumer price index: NA%

Labor force:
total: 2,980 (1994)
by occupation : NA

Unemployment rate: 9.3% (1995)

Budget:
revenues: $28 million
expenditures : $28 million, including capital expenditures of $7.8
million (1992 est.)

Industries: fish processing and supply base for fishing fleets;
tourism

Industrial production growth rate: NA%

Electricity - capacity: NA kW

Electricity - production: NA kWh

Electricity - consumption per capita: NA kWh

Agriculture - products: vegetables; cattle, sheep, pigs; fish catch of
14,800 metric tons (1994)

Exports:
total value: $5 million (f.o.b., 1995)
commodities : fish and fish products, fox and mink pelts
partners: US 58%, France 17%, UK 11%, Canada, Portugal (1990)

Imports:
total value: $70.2 million (c.i.f., 1995)
commodities: meat, clothing, fuel, electrical equipment, machinery,
building materials
partners : Canada, France, US, Netherlands, UK

Debt - external: $NA

Economic aid:
recipient: ODA, $NA

Currency: 1 French franc (F) = 100 centimes

Exchange rates: French francs (F) per US$1 - 5.4169 (January 1997),
5.1155 (1996), 4.9915 (1995), 5.5520 (1994), 5.6632 (19