FAX: [1] (473) 444-4820
Flag description: a rectangle divided diagonally into yellow triangles (top and bottom) and green triangles (hoist side and outer side), with a red border around the flag; there are seven yellow, five-pointed stars with three centered in the top red border, three centered in the bottom red border, and one on a red disk superimposed at the center of the flag; there is also a symbolic nutmeg pod on the hoist-side triangle (Grenada is the world's second-largest producer of nutmeg, after Indonesia); the seven stars represent the seven administrative divisions
Grenada Economy
Economy - overview: In this island economy progress in fiscal reforms and prudent macroeconomic management have kept annual growth steady since 1998. 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 - $394 million (2000 est.)
GDP - real growth rate: 7% (2000 est.)
GDP - per capita: purchasing power parity - $4,400 (2000 est.)
GDP - composition by sector: agriculture: 9.7%
industry: 15%
services: 75.3% (1996 est.)