Economy Of Martinique
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Economy overview
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The economy is based on sugarcane, bananas, tourism, and light industry. Agriculture accounts for about 6% of GDP and the small industrial sector for 11%. Sugar production has declined, with most of the sugarcane now used for the production of rum. Banana exports are increasing, going mostly to France. The bulk of meat, vegetable, and grain requirements must be imported, contributing to a chronic trade deficit that requires large annual transfers of aid from France. Tourism, which employs more than 11,000 people, has become more important than agricultural exports as a source of foreign exchange.
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GDP
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purchasing power parity - $6.117 billion (2003 est.)
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GDP - real growth rate
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NA
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GDP - per capita
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purchasing power parity - $14,400 (2003 est.)
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GDP - composition by sector
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agriculture: 6%
industry: 11%
services: 83% (1997 est.)
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Investment gross fixed
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Population below poverty line
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NA
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Household income or consumption by percentage share
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lowest 10%: NA
highest 10%: NA
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Distribution of family income - Gini index
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Inflation rate consumer prices
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3.9% (1990)
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Labor force
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165,900 (1998)
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Labor force by occupation
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agriculture 10%, industry 17%, services 73% (1997)
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Unemployment rate
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27.2% (1998)
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Budget
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revenues: $900 million
expenditures: $2.5 billion, including capital expenditures of $140 million (1996)
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Public debt
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Agriculture products
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pineapples, avocados, bananas, flowers, vegetables, sugarcane
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Industries
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construction, rum, cement, oil refining, sugar, tourism
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Industrial production growth rate
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NA
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Electricity production
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1.151 billion kWh (2001)
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Electricity production by source
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fossil fuel: 100%
hydro: 0%
other: 0% (2001)
nuclear: 0%
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Electricity consumption
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1.07 billion kWh (2001)
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Electricity exports
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0 kWh (2001)
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Electricity imports
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0 kWh (2001)
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Oil production
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0 bbl/day (2001 est.)
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Oil consumption
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13,500 bbl/day (2001 est.)
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Oil exports
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NA (2001)
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Oil imports
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NA (2001)
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Oil proved reserves
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Natural gas production
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Natural gas consumption
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Natural gas exports
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Natural gas imports
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Natural gas proved reserves
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Current account balance
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Exports
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$250 million f.o.b. (1997)
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Exports commodities
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refined petroleum products, bananas, rum, pineapples (2001 est.)
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Exports partners
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France 45%, Guadeloupe 28% (2000)
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Imports
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$2 billion c.i.f. (1997)
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Imports commodities
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petroleum products, crude oil, foodstuffs, construction materials, vehicles, clothing and other consumer goods
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Imports partners
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France 62%, Venezuela 6%, Germany 4%, Italy 4%, US 3% (2000)
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Reserves of foreign exchange gold
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Debt external
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$180 million (1994)
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Economic aid recipient
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$NA; note - substantial annual aid from France (1998)
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Currency
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euro (EUR)
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Currency code
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EUR
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Exchange rates
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euros per US dollar - 0.8860 (2003), 1.0626 (2002), 1.1175 (2001), 1.0854 (2000), 0.9386 (1999); French francs per US dollar - 5.8995 (1998)
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Fiscal year
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calendar year
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Applied Language Solutions offer English to French Translation .
This information was reproduced in part from the CIA World Fact book.
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