Economy Of Reunion
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Economy overview
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The economy has traditionally been based on agriculture, but services now dominate. Sugarcane has been the primary crop for more than a century, and in some years it accounts for 85% of exports. The government has been pushing the development of a tourist industry to relieve high unemployment, which amounts to one-third of the labor force. The gap in Reunion between the well-off and the poor is extraordinary and accounts for the persistent social tensions. The white and Indian communities are substantially better off than other segments of the population, often approaching European standards, whereas minority groups suffer the poverty and unemployment typical of the poorer nations of the African continent. The outbreak of severe rioting in February 1991 illustrates the seriousness of socioeconomic tensions. The economic well-being of Reunion depends heavily on continued financial assistance from France.
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GDP
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purchasing power parity - $4.348 billion (2004 est.)
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GDP - real growth rate
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2.5% (2004 est.)
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GDP - per capita
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purchasing power parity - $5,800 (2004 est.)
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GDP - composition by sector
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agriculture: 8%
industry: 19%
services: 73% (2000 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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NA
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Labor force
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309,900 (2000)
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Labor force by occupation
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agriculture 13%, industry 12%, services 75% (2000)
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Unemployment rate
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36% (1999 est.)
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Budget
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revenues: $1.26 billion
expenditures: $2.62 billion, including capital expenditures of NA (1998)
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Public debt
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Agriculture products
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sugarcane, vanilla, tobacco, tropical fruits, vegetables, corn
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Industries
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sugar, rum, cigarettes, handicraft items, flower oil extraction
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Industrial production growth rate
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NA
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Electricity production
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1.08 billion kWh (2001)
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Electricity production by source
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fossil fuel: 55.5%
hydro: 44.5%
other: 0% (2001)
nuclear: 0%
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Electricity consumption
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1.005 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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18,000 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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$214 million f.o.b. (1997)
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Exports commodities
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sugar 63%, rum and molasses 4%, perfume essences 2%, lobster 3%, (1993)
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Exports partners
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France 74%, Japan 6%, Comoros 4% (2000)
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Imports
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$2.5 billion c.i.f. (1997)
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Imports commodities
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manufactured goods, food, beverages, tobacco, machinery and transportation equipment, raw materials, and petroleum products
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Imports partners
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France 64%, Bahrain 3%, Germany 3%, Italy 3% (2000)
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Reserves of foreign exchange gold
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Debt external
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NA
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Economic aid recipient
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$NA; note - substantial annual subsidies from France (2001 est.)
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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 - 0.886 (2003), 1.0626 (2002), 1.1175 (2001), 1.0854 (2000), 0.9386 (1999)
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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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