Economy - overview 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 usedfor the production of rum. Banana exports are increasing, going mostly toFrance. The bulk of meat, vegetable, and grain requirements must be imported,contributing to a chronic trade deficit that requires large annual transfersof aid from France. Tourism has become more important than agricultural exportsas a source of foreign exchange. The majority of the work force is employedin the service sector and in administration.

GDP purchasing power parity - $3.95 billion (1995 est.)

GDP - real growth rate NA%

GDP - per capita purchasing power parity - $10,000 (1995 est.)

GDP - composition by sector
agriculture: 6%
industry: 11%
services: 83% (1992 est.)

Inflation rate - consumer price index 3.9% (1990)

Labor force
total: 160,000
by occupation: agriculture 10%, industry 17%, services 73% (1992)

Unemployment rate 23.5% (1993)

Budget
revenues: $620 million
expenditures: $2.1 billion, including capital expenditures of $170 million (1992)

Industries construction, rum, cement, oil refining, sugar, tourism

Industrial production growth rate NA%

Electricity - capacity NA kW

Electricity - production NA kWh

Electricity - consumption per capita NA kWh

Agriculture - products pineapples, avocados, bananas, flowers, vegetables, sugarcane for rum

Exports
total value: $220 million (f.o.b., 1994)
commodities: refined petroleum products, bananas, rum, pineapples
partners: France 57%, Guadeloupe 31%, French Guiana (1991)

Imports
total value : $1.6 billion (c.i.f., 1994)
commodities: petroleum products, crude oil, foodstuffs, construction materials, vehicles,clothing and other consumer goods
partners: France 62%, UK, Italy, Germany, Japan, US (1991)

Debt - external $180 million (1994)

Economic aid
recipient: ODA, $NA
note: substantial annual French aid

Currency 1 French franc (F) = 100 centimes

Exchange rates French francs (F) per US$1 - 5.4169 (January 1997), 5.1155 (1996), 4.9915(1995), 5.5520 (1994), 5.6632 (1993), 5.2938 (1992)

Fiscal year calendar year

NOTE: The information regarding Martinique on this page is re-published from the 1997 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Martinique Economy 1997 information contained here. All suggestions for corrections of any errors about Martinique Economy 1997 should be addressed to the CIA.