Overview: The economy is based on sugarcane, bananas, tourism, and light industry. Agriculture accounts for about 12% of GDP and the small industrial sector for 10%. 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. In 1986 per capita GDP was relatively high at $6,000. During 1986 the unemployment rate was 30% and was particularly severe among younger workers.

GDP: $2.0 billion, per capita $6,000; real growth rate NA% (1986)

Inflation rate (consumer prices): 2.9% (1989)

Unemployment rate: 30% (1986)

Budget: revenues $268 million; expenditures $268 million, including capital expenditures of $NA (1989 est.)

Exports: $196 million (f.o.b., 1988); commodities--refined petroleum products, bananas, rum, pineapples; partners--France 65%, Guadeloupe 24%, FRG (1987)

Imports: $1.3 billion (c.i.f., 1988); commodities--petroleum products, foodstuffs, construction materials, vehicles, clothing and other consumer goods; partners--France 65%, UK, Italy, FRG, Japan, US (1987)

External debt: $NA

Industrial production: growth rate NA%

Electricity: 113,000 kW capacity; 564 million kWh produced, 1,660 kWh per capita (1990)

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

Agriculture: including fishing and forestry, accounts for about 12% of GDP; principal crops--pineapples, avocados, bananas, flowers, vegetables, and sugarcane for rum; dependent on imported food, particularly meat and vegetables

Economic aid: Western (non-US) countries, ODA and OOF bilateral commitments (1970-88), $9.9 billion

Currency: French franc (plural--francs); 1 French franc (F) = 100 centimes

Exchange rates: French francs (F) per US$1--5.1307 (January 1991), 5.4453 (1990), 6.3801 (1989), 5.9569 (1988), 6.0107 (1987), 6.9261 (1986), 8.9852 (1985)

Fiscal year: calendar year

NOTE: The information regarding Martinique on this page is re-published from the 1991 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Martinique Economy 1991 information contained here. All suggestions for corrections of any errors about Martinique Economy 1991 should be addressed to the CIA.