ies

Flag description: a rectangle divided diagonally into yellow
triangles (top and bottom) and green triangles (hoist side and outer
side), with a red border around the flag; there are seven yellow,
five-pointed stars with three centered in the top red border, three
centered in the bottom red border, and one on a red disk
superimposed at the center of the flag; there is also a symbolic
nutmeg pod on the hoist-side triangle (Grenada is the world's
second-largest producer of nutmeg, after Indonesia); the seven stars
represent the seven administrative divisions

Economy

Economy--overview: In this island economy progress in fiscal
reforms and prudent macroeconomic management have boosted annual
growth to nearly 5% in 1997-98. The increase in economic activity
has been led by construction and trade. Tourist facilities are being
expanded; tourism is the leading foreign exchange earner. Major
short-term concerns are the rising fiscal deficit and the
deterioration in the external account balance. Grenada shares a
common central bank and a common currency with seven other members
of the Organization of Eastern Caribbean States (OECS).

GDP: purchasing power parity--$340 million (1998 est.)

GDP--real growth rate: 5% (1998 est.)

GDP--per capita: purchasing power parity?$3,500 (1998 est.)

GDP--composition by sector:
agriculture: 9.7%
industry: 15%
services: 75.3% (1996 est.)

Population below poverty line: NA%

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

Inflation rate (consumer prices): 1.4% (1998)

Labor force: 36,000

Labor force--by occupation: services 31%, agriculture 24%,
construction 8%, manufacturing 5%, other 32% (1985)

Unemployment rate: 20% (1 October 1996)

Budget:
revenues: $85.8 million
expenditures: $102.1 million, including capital expenditures of $28
million (1997)

Industries: food and beverages, textiles, light assembly
operations, tourism, construction

Industrial production growth rate: 0.7% (1997 est.)

Electricity--production: 70 million kWh (1996)

Electricity--production by source:
fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (1996)

Electricity--consumption: 70 million kWh (1996)

Electricity--exports: 0 kWh (1996)

Electricity--imports: 0 kWh (1996)

Agriculture--products: bananas, cocoa, nutmeg, mace, citrus,
avocados, root crops, sugarcane, c