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Martinique Economy: from the All Country Info reference guide to country facts

Martinique Economy

Martinique Economy: A summary of information about Martinique Economy, from government research data as well as independent research and other sources.

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Martinique: Economy

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 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 has become more important than
agricultural exports as a source of foreign exchange. The majority of
the work force is employed in the service sector and in
administration.
GDP
purchasing power parity - $4.24 billion (1996 est.)
GDP - real growth rate
NA%
GDP - per capita
purchasing power parity - $10,700 (1996 est.)
GDP - composition by sector
agriculture: 6%
industry: 11%
services: 83% (1997 est.)
Population below poverty line
NA%
Household income or consumption by percentage share
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices)
3.9% (1990)
Labor force
170,000 (1997)
Labor force - by occupation
agriculture 10%, industry 17%, services
73% (1997)
Unemployment rate
24% (1997)
Budget
revenues: $900 million
expenditures: $2.5 billion, including capital expenditures of $140
million (1996)
Industries
construction, rum, cement, oil refining, sugar, tourism
Industrial production growth rate
NA%
Electricity - production
1.075 billion kWh (1998)
Electricity - production by source
fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (1998)
Electricity - consumption
1 billion kWh (1998)
Electricity - exports
0 kWh (1998)
Electricity - imports
0 kWh (1998)
Agriculture - products
pineapples, avocados, bananas, flowers,
vegetables, sugarcane
Exports
$250 million (f.o.b., 1997)
Exports - commodities
refined petroleum products, bananas, rum,
pineapples
Exports - partners
France 45%, Guadeloupe 28% (1997)
Imports
$2 billion (c.i.f., 1997)
Imports - commodities
petroleum products, crude oil, foodstuffs,
construction materials, vehicles, clothing and other consumer goods
Imports - partners
France 62%, Venezuela 6%, Germany 4%, Italy 4%, US
3% (1997)
Debt - external
$180 million (1994)
Economic aid - recipient
$NA; note - substantial annual aid from
France
Currency
1 French franc (F) = 100 centimes
Exchange rates
euros per US$1 - 0.9867 (January 2000), 0.9386 (1999);
French francs (F) per US$1 - 5.65 (January 1999), 5.8995 (1998),
5.8367 (1997), 5.1155 (1996), 4.9915 (1995)
Fiscal year
calendar year
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