ed 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

@Grenada:Economy

Economy - overview: In this island economy progress in fiscal reforms
and prudent macroeconomic management have boosted annual growth to
5%-6% in 1998-99. 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 - $360 million (1999 est.)

GDP - real growth rate: 5% (1999 est.)

GDP - per capita: purchasing power parity - $3,700 (1999 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): 1.3% (1998)

Labor force: 42,300 (1996)

Labor force - by occupation: services 62%, agriculture 24%, industry
14% (1999 est.)

Unemployment rate: 15% (1997)

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: 105 million kWh (1998)

Electricity - production by source:
fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (1998)

Electricity - consumption: 98 million kWh (1998)

Electricity - exports: 0 kWh (1998)

Electricity - imports: 0 kWh (1998)

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

Exports: $26.8 million (1998)

Exports - commodities: bananas, cocoa, nutmeg, fruit and vegetables,
clothing, mace

Exports - partners: Caricom 32.3%, UK 20%, US 13%, Netherlands 8.8%
(1991)

Imports: $200 million (1998)

Imports - commodities: food, manufactured goods, machinery, chemicals,