ree parts: the top part
is red with a green diagonal cross extending to the corners overlaid
by a white cross dividing the square into four sections; the middle
part has a white background with an ermine pattern; the third part has
a red background with two stylized yellow lions outlined in black, one
on top of the other; the flag of France is used for official occasions

@Saint Pierre and Miquelon:Economy

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.

GDP: purchasing power parity - $74 million (1996 est.); supplemented
by annual payments from France of about $65 million

GDP - real growth rate: NA%

GDP - per capita: purchasing power parity - $11,000 (1996 est.)

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

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)

Labor force: 3,000 (1997)

Labor force - by occupation: fishing 18%, industry (mainly
fish-processing) 41%, services 41% (1996 est.)

Unemployment rate: 9.8% (1997)

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

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

Industrial production growth rate: NA%

Electricity - production: 40 million kWh (1998)

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

Electricity - consumption: 37 million kWh (1998)

Electricity - exports: 0 kWh (1998)

Electricity - imports: 0 kWh (1998)

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

Exports: $5 million (f.o.b., 1997)

Exports - commodities: fish and fish products, mollusks and
crustac