Grenada/

Grenada relies on tourism as its main source of foreign exchange especially since the construction of an international airport in 1985. Hurricanes Ivan (2004) and Emily (2005) severely damaged the agricultural sector - particularly nutmeg and cocoa cultivation - which had been a key driver of economic growth. Grenada has rebounded from the devastating effects of the hurricanes but is now saddled with the debt burden from the rebuilding process. Public debt-to-GDP is nearly 110%, leaving the THOMAS administration limited room to engage in public investments and social spending. Strong performances in construction and manufacturing, together with the development of tourism and an offshore financial industry, have also contributed to growth in national output; however, economic growth was stagnant in 2010 after a sizeable contraction in 2009, because of the global economic slowdown’s effects on tourism and remittances.

$1.127 billion (2010 est.)

$1.118 billion (2009 est.)

$1.211 billion (2008 est.)

$645 million (2010 est.)

0.8% (2010 est.)

-7.7% (2009 est.)

2.2% (2008 est.)

$10,500 (2010 est.)

$10,400 (2009 est.)

$11,400 (2008 est.)

42,300 (1996)

12.5% (2000)

32% (2000)

3.7% (2007 est.)

6.5% (31 December 2009)

6.5% (31 December 2008)

11.06% (31 December 2009 est.)

9.53% (31 December 2008 est.)

$123.1 million (31 December 2009)

$131.7 million (31 December 2008)

$743.5 million (31 December 2009)

$719.5 million (31 December 2008)

$658 million (31 December 2008 est.)

$575.8 million (31 December 2007 est.)

$NA

bananas, cocoa, nutmeg, mace, citrus, avocados, root crops, sugarcane, corn, vegetables

food and beverages, textiles, light assembly operations, tourism, construction

178.7 million kWh (2007 est.)

155.7 million kWh (2007 est.)

0 kWh (2008 est.)

0 kWh (2008 est.)

0 bbl/day (2009 est.)

3,000 bbl/day (2009 est.)

0 bbl/day (2007 est.)

1,923 bbl/day (2007 est.)

0 bbl (1 January 2010 est.)

0 cu m (2008 est.)

0 cu m (2008 est.)

0 cu m (2008 est.)

0 cu m (2008 est.)

0 cu m (1 January 2010 est.)

-$138 million (2007 est.)

$38 million (2006)

bananas, cocoa, nutmeg, fruit and vegetables, clothing, mace

Saint Lucia 19.73%, Antigua and Barbuda 13.41%, US 12.21%, Saint Kitts and Nevis 12.03%, Dominica 12% (2009)

$343 million (2006)

food, manufactured goods, machinery, chemicals, fuel

Trinidad and Tobago 39.76%, US 18.11% (2009)

$347 million (2004)

East Caribbean dollars (XCD) per US dollar - 2.7 (2007), 2.7 (2006), 2.7 (2005), 2.7 (2004), 2.7 (2003)