Economy - overview:
Grenada relies on tourism as its main source of foreign exchange, especially since the construction of an international airport in 1985. Strong performances in construction and manufacturing, together with the development of an offshore financial industry, have also contributed to growth in national output. Grenada has rebounded from the devastating effects of Hurricanes Ivan (2004) and Emily (2005), but is now saddled with the debt burden from the rebuilding process. The agricultural sector, particularly nutmeg and cocoa cultivation, has gradually recovered, and the tourism sector has seen substantial increases in foreign direct investment as the regional share of the tourism market increases.
GDP (purchasing power parity):
$1.108 billion (2007 est.)
GDP (official exchange rate):
$590 million (2007 est.)
GDP - real growth rate:
3.1% (2007 est.)
GDP - per capita (PPP):
$10,500 (2007 est.)