Economy
Economy—overview: The economy depends mainly on US military spending and on tourist revenue. Over the past 20 years, the tourist industry has grown rapidly, creating a construction boom for new hotels and the expansion of older ones. More than 1 million tourists visit Guam each year. The industry suffered a setback in 1998 because of the continuing Japanese recession; the Japanese normally make up almost 90% of the tourists. Most food and industrial goods are imported. Guam faces the problem of building up the civilian economic sector to offset the impact of military downsizing.
GDP: purchasing power parity—$3 billion (1996 est.)
GDP—real growth rate: NA%
GDP—per capita: purchasing power parity?$19,000 (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): 4% (1992 est.)
Labor force: 65,660 (1995)