page_title: Economy of Grenada
section_title: Statistics
hierarchical_section_title: Economy of Grenada / Statistics
caption_attribution_description: English: Grenada Export Treemap from MIT Harvard Economic Complexity Observatory
context_page_description: The economy of Grenada is a largely tourism-based, small and open economy. Over the past two decades, the main thrust of Grenada's economy has shifted from agriculture to services, with tourism serving as the leading foreign currency earning sector. The country's principal export crops are the spices nutmeg and mace. Other crops for export include cocoa, citrus fruits, bananas, cloves, and cinnamon. Manufacturing industries in Grenada operate mostly on a small scale, including production of beverages and other foodstuffs, textiles, and the assembly of electronic components for export.
  Economic growth picked up in the late 1990s following slow growth and domestic fiscal adjustment in early years of the decade. Despite an expansionary fiscal policy, the public debt remained moderate at around 50 percent of GDP as deficits were financed partly by privatization receipts. Since 2001, economic growth declined caused by adverse shocks such as a slowdown in the global economy and natural disasters. To deal with the shocks, fiscal policy became more expansionary while privatization receipts declined. As a result, public debt increased sharply to near 110 percent of GDP in 2003.
context_section_description: GDP:purchasing power parity - $1.401 billion (2015 est.)
  GDP - real growth rate:
  4.6% (2015 est.)
  GDP - per capita:
  purchasing power parity - $13,100 (2015 est.)
  GDP - composition by sector:agriculture: 6.2%
  industry: 14.3%
  services: 79.5% (2015 est.)
  Population below poverty line:
  38% (2008 est.)
  Household income or consumption by percentage share:lowest 10%: NA%
  highest 10%: NA%
  Inflation rate (consumer prices):
  1.3% (2015)
  Labor force:
  59,900 (2013)
  Labor force - by occupation:
  services 69%, agriculture 11%, industry 20% (2008 est.)
  Unemployment rate:
  33.5% (2013)
  Budget:revenues: $191.8 million
  expenditures: $230.9 million (2012 est)
  Industries:
  food and beverages, textiles, light assembly operations, tourism, construction
  Industrial production growth rate:
  -1% (2015 est.)
  Electricity - production:
  193 GWh (2012 est.)
  Electricity - production by source:fossil fuel: 98.2%
  hydro: 0%
  nuclear: 0%
  other: 1.4% (2012 est.)
  Electricity - consumption:
  178 GWh (2012 est.)
  Electricity - exports:
  0 kWh (2013 est.)
  Electricity - imports:
  0 kWh (2013 est.)
  Agriculture - products:bananas, cocoa, nutmeg, mace, citrus, avocados, root crops, sugarcane, maize, vegetables
  Exports:
  $43.8 million (2015 est.)
  Exports - commodities:
  nutmeg, bananas, cocoa, fruit and vegetables, clothing, mace
  Exports - partners:Nigeria 44.7%, St. Lucia 10.8%, Antigua and Barbuda 7.3%, St. Kitts and Nevis 6.6%, Dominica 6.6%, United States 5.8% (2015)
  Imports:
  $310.4 million (2015 est.)
  Imports - commodities:
  food, manufactured goods, machinery, chemicals, fuel
  Imports - partners:Trinidad and Tobago 49.6%, United States 16.4% (2015)
  Debt - external:
  $679 million (2013 est.)
  Economic aid - recipient:
  $8.3 million (1995)
  Currency:
  1 East Caribbean dollar (EC$) = 100 cents
  Exchange rates:
  East Caribbean dollars (EC$) per US$1 – 2.7000 (fixed rate since 1976)
  Fiscal year:
  calendar year
caption: Grenada Export Treemap
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