Economy - overview: In this island economy progress in fiscal reforms and prudent macroeconomic management have boosted annual growth to 5%-6% in 1998-99. The increase in economic activity has been led by construction and trade. Tourist facilities are being expanded; tourism is the leading foreign exchange earner. Major short-term concerns are the rising fiscal deficit and the deterioration in the external account balance. Grenada shares a common central bank and a common currency with seven other members of the Organization of Eastern Caribbean States (OECS).
GDP: purchasing power parity - $360 million (1999 est.)
GDP - real growth rate: 5% (1999 est.)
GDP - per capita: purchasing power parity - $3,700 (1999 est.)
GDP - composition by sector: agriculture: 9.7% industry: 15% services: 75.3% (1996 est.)
Population below poverty line: NA%
Household income or consumption by percentage share: lowest 10%: NA% highest 10%: NA%
Inflation rate (consumer prices): 1.3% (1998)
Labor force: 42,300 (1996)
Labor force - by occupation: services 62%, agriculture 24%, industry 14% (1999 est.)