k bearing the coat of
arms; the coat of arms features a shield flanked by two workers in
front of a mahogany tree with the related motto SUB UMBRA FLOREO (I
Flourish in the Shade) on a scroll at the bottom, all encircled by a
green garland

Economy

Economy--overview: The small, essentially private enterprise
economy is based primarily on agriculture, agro-based industry, and
merchandising, with tourism and construction assuming greater
importance. Sugar, the chief crop, accounts for nearly half of
exports, while the banana industry is the country's largest
employer. The government's tough austerity program in 1997 resulted
in an economic slowdown that continued in 1998. The trade deficit
has been growing, mostly as a result of low export prices for sugar
and bananas. The new government faces important challenges to
economic stability. Rapid action to improve tax collection has been
promised, but a lack of progress in reigning in spending could bring
the exchange rate under pressure.

GDP: purchasing power parity--$700 million (1998 est.)

GDP--real growth rate: 0.5% (1998 est.)

GDP--per capita: purchasing power parity?$3,000 (1998 est.)

GDP--composition by sector:
agriculture: 22%
industry: 22%
services: 56% (1997 est.)

Population below poverty line: NA%

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

Inflation rate (consumer prices): -0.5% (1998 est.)

Labor force: 71,000
note: shortage of skilled labor and all types of technical personnel
(1997 est.)

Labor force--by occupation: agriculture 30%, services 16%,
government 15.4%, commerce 11.2%, manufacturing 10.3%

Unemployment rate: 13% (1997 est.)

Budget:
revenues: $140 million
expenditures: $142 million, including capital expenditures of $NA
(FY97/98 est.)

Industries: garment production, food processing, tourism,
construction

Industrial production growth rate: 0.2% (1996 est.)

Electricity--production: 145 million kWh (1996)

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

Electricity--consumption: 145 million kWh (1996)

Electricity--exports: 0 kWh (1996)

Electricity--imports: 0 kWh (1996)

Agriculture--products: bananas, coca, citrus, sugarcane; lumber;
fish, cultured shrimp

Exports: $95.3 million (f.o.b., 1998)

Exports--commodities: sugar 46%, bananas 26%, cit