and employs 24% of the labor force. Tourism is the
leading foreign exchange earner, followed by agricultural exports.
Manufacturing remains relatively undeveloped, but is expected to grow, given
a more favorable private investment climate since 1983. The economy achieved
an impressive average annual growth rate of 5.5% in 1986-91 but stalled in
1992. Unemployment remains high at about 25%.
National product:
GDP - purchasing power equivalent - $250 million (1992 est.)
National product real growth rate:
-0.4% (1992 est.)
National product per capita:
$3,000 (1992 est.)
Inflation rate (consumer prices):
2.6% (1991 est.)
Unemployment rate:
25% (1992 est.)
Budget:
revenues $78 million; expenditures $51 million, including capital
expenditures of $22 million (1991 est.)
Exports:
$30 million (f.o.b., 1991 est.)
commodities:
nutmeg 36%, cocoa beans 9%, bananas 14%, mace 8%, textiles 5%
partners:
US 12%, UK, FRG, Netherlands, Trinidad and Tobago (1989)
Imports:
$110 million (f.o.b., 1991 est.)
commodities:
food 25%, manufactured goods 22%, machinery 20%, chemicals 10%, fuel 6%
(1989)
partners:
US 29%, UK, Trinidad and Tobago, Japan, Canada (1989)
External debt:
$104 million (1990 est.)
Industrial production:
growth rate 5.8% (1989 est.); accounts for 9% of GDP
Electricity:
12,500 kW capacity; 26 million kWh produced, 310 kWh per capita (1992)
Industries:
food and beverage, textile, light assembly operations, tourism, construction
Agriculture:
accounts for 16% of GDP and 80% of exports; bananas, cocoa, nutmeg, and mace
account for two-thirds of total crop production; world's second-largest
producer and fourth-largest exporter of nutmeg and mace; small-size farms
predominate, growing a variety of citrus fruits, avocados, root crops,
sugarcane, corn, and vegetables
Economic aid:
US commitments, including Ex-Im (FY84-89), $60 million; Western (non-US)
countries, ODA and OOF bilateral commitments (1970-89), $70 million;
Communist countries (1970-89), $32 million
Currency:
1 EC dollar (EC$) = 100 cents
Exchange rates:
East Caribbean dollars (EC$) per US$1 - 2.70 (fixed rate since 1976)
Fiscal year:
calendar year

*Grenada, Communications

Highways:
1,000 km total; 600 km paved, 300 km otherwise improved; 100 km unimproved
Ports:
Saint George's
Airports:
total:
3
usable:
3
with permanent-surface runways:
2
with runways