ce is used
for official occasions

Economy Saint Pierre and Miquelon

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 of
disputes with Canada over fishing quotas and a steady decline in the
number of ships stopping at Saint Pierre. 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 to the great betterment of living
standards. The government hopes an expansion of tourism will boost
economic prospects. Recent test drilling for oil may pave the way
for development of the energy sector.

GDP (purchasing power parity):
$48.3 million
note: supplemented by annual payments from France of about $60
million (2003 est.)

GDP (official exchange rate):
NA

GDP - real growth rate:
NA%

GDP - per capita (PPP):
$7,000 (2001 est.)

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

Labor force:
3,261 (1999)

Labor force - by occupation:
agriculture: 18%
industry: 41%
services: 41% (1996 est.)

Unemployment rate:
10.3% (1999)

Population below poverty line:
NA%

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices):
2.1% (1991-96 average)

Budget:
revenues: $70 million
expenditures: $60 million; including capital expenditures of $24
million (1996 est.)

Agriculture - products:
vegetables; poultry, cattle, sheep, pigs; fish

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

Industrial production growth rate:
NA%

Electricity - production:
50 million kWh (2004)

Electricity - production by source:
fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (2001)

Electricity - consumption:
46.5 million kWh (2004)

Electricity - exports:
0 kWh (2004)

Electricity - imports:
0 kWh (2004)

Oil - production:
0 bbl/day (2004 est.)

Oil - consumption:
500 bbl/day (2004 est.)

Oil - exports:
NA bbl/day (2001)

Oil - imports:
NA bbl/day (2001)

Natural gas - production:
0 cu m (2004 est.)

Natural gas - consumption: