Economic overview: The economy's base is agriculture, which contributes 40% to GDP. Squash, coconuts, bananas, and vanilla beans are the main crops, and agricultural exports make up two-thirds of total exports. The country must import a high proportion of its food, mainly from New Zealand. The manufacturing sector accounts for only 11% of GDP. Tourism is the primary source of hard currency earnings, but the country also remains dependent on sizable external aid and remittances to offset its trade deficit. The economy continued to grow in 1993-95 largely because of a rise in squash exports, increased aid flows, and several large construction projects. The government is now turning its attention to further development of the private sector and the reduction of the budget deficit.
GDP: purchasing power parity - $228 million (1995 est.)
GDP real growth rate: 4% (1995 est.)
GDP per capita: $2,160 (1995 est.)
GDP composition by sector: agriculture: 40% (1995 est.) industry: NA% services: NA%
Inflation rate (consumer prices): 3% (1993)
Labor force: 32,013 (1990 est.) by occupation: agriculture 70% (1995 est.)
Unemployment rate: NA%
Budget:
revenues: $44 million
expenditures: $86 million, including capital expenditures of $NA
(1995 est.)
Industries: tourism, fishing