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 the number of ships stopping at Saint Pierre has dropped steadily over the years. 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. Imports come primarily from Canada and France.
GDP: purchasing power parity - $74 million (1996 est.)
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%
Inflation rate - consumer price index: NA%
Labor force: total: 2,980 (1994) by occupation : NA
Unemployment rate: 9.3% (1995)
Budget: revenues: $28 million expenditures : $28 million, including capital expenditures of $7.8 million (1992 est.)
Industries: fish processing and supply base for fishing fleets; tourism