Economy Of Martinique

The economy is based on trade. Agriculture accounts for about 6% of GDP and the small industrial sector for 11%. Sugar production has declined, with most of the sugarcane now used for the production of Rum . Banana exports are increasing, going mostly to France . The bulk of meat, vegetable, and grain requirements must be imported, contributing to a chronic trade deficit that requires large annual transfers of aid from France. Tourism has become more important than agricultural exports as a source of foreign exchange. The majority of the work force is employed in the service sector and in administration.

GDP :
purchasing power parity - $6,117 billion ( 2003 est.)

GDP - real growth rate:
NA%

GDP - per capita:
purchasing power parity - $14,400 (2003 est.)

GDP - composition by sector:

''agriculture:''
6%

''industry:''
11%

''services:''
83% ( 1997 est.)

Population below Poverty line:
NA%

Household income or consumption by percentage share:

''lowest 10%:''
NA%

''highest 10%:''
NA%

Labor force:
165 900 (1998)

Labor force - by occupation:
agriculture 10%, industry 17%, services 73% (1997)

Unemployment rate:
27,2% (1998)

Budget:

''revenues:''
$900 million

''expenditures:''
$2.5 billion, including capital expenditures of $140 million (1996)

Industries:
construction, Rum , Cement , Petroleum refining, Sugar , Tourism

Industrial production growth rate:
NA%

Electricity - production:
1,205 GWh (2003)

Electricity - production by source:

'' Fossil Fuel :''
100%

'' Hydro :''
0%

'' Nuclear :''
0%

''other:''
0% (1998)

Electricity - consumption:
1,000 GWh (1998)

Electricity - exports:
0 kWh (1998)

Electricity - imports:
0 kWh (1998)

Agriculture - products:
Pineapple s, Avocado s, Banana s, Flower s, Vegetable s, Sugarcane

Exports:
$250 million (f.o.b., 1997)

Exports - commodities:
refined Petroleum products, bananas, rum, pineapples

Exports - partners:
France 45%, Guadeloupe 28% (1997)

Imports:
$2 billion (c.i.f., 1997)

Imports - commodities:
petroleum products, crude oil, foodstuffs, construction materials, vehicles, clothing and other consumer goods

Imports - partners:
France 62%, Venezuela 6%, Germany 4%, Italy 4%, US 3% (1997)

Debt - external:
$180 million (1994)

Economic aid - recipient:
; note - substantial annual aid from France

Currency:
1 Euro (€) = 100 Cents

Exchange rates:
Euro s per US $1 - 0.9867 (January 2000), 0.9386 (1999); French francs (F) per US$1 - 5.65 (January 1999), 5.8995 (1998), 5.8367 (1997), 5.1155 (1996), 4.9915 (1995)

Fiscal year:
calendar year

See also :

Information About

Economy Of Martinique