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Guam Economy 2020

SOURCE: 2020 CIA WORLD FACTBOOK AND OTHER SOURCES











Guam Economy 2020
SOURCE: 2020 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 27, 2020

Economy - overview:
US national defense spending is the main driver of Guam’s economy, followed closely by tourism and other services. Guam serves as a forward US base for the Western Pacific and is home to thousands of American military personnel. Total federal spending (defense and non-defense) amounted to $1.988 billion in 2016, or 34.2 of Guam’s GDP. Of that total, federal grants and cover-over payments amounted to $3444.1 million in 2016, or 35.8% of Guam’s total revenues for the fiscal year. In 2016, Guam’s economy grew 0.3%. Despite slow growth, Guam’s economy has been stable over the last decade. National defense spending cushions the island’s economy against fluctuations in tourism. Service exports, mainly spending by foreign tourists in Guam, amounted to over $1 billion for the first time in 2016, or 17.8% of GDP.

GDP (purchasing power parity):
$5.793 billion (2016 est.)
$5.697 billion (2015 est.)
$5.531 billion (2014 est.)
country comparison to the world (CIA rank, may be based on non-current data): 174
[see also: GDP country ranks ]

GDP (official exchange rate):
$5.793 billion (2016 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
0.4% (2016 est.)
0.5% (2015 est.)
1.6% (2014 est.)
country comparison to the world (CIA rank, may be based on non-current data): 192
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$35,600 (2016 est.)
$35,200 (2015 est.)
$34,400 (2014 est.)
country comparison to the world (CIA rank, may be based on non-current data): 56
[see also: GDP - per capita country ranks ]

GDP - composition, by end use:
household consumption: 56.2% (2016 est.)
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 55% (2016 est.)
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 20.6% (2016 est.)
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: NA (2016 est.)
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 19.4% (2016 est.)
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -51.2% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: NA
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: NA
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 58.4% NA (2015 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
fruits, copra, vegetables; eggs, pork, poultry, beef

Industries:
national defense, tourism, construction, transshipment services, concrete products, printing and publishing, food processing, textiles

Industrial production growth rate:
NA
[see also: Industrial production growth rate country ranks ]

Labor force:
73,210 (2016 est.)
note: includes only the civilian labor force
country comparison to the world (CIA rank, may be based on non-current data): 184
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 0.3%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 21.6%
[see also: Labor force - by occupation - industry country ranks ]
services: 78.1% (2013 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
4.5% (2017 est.)
3.9% (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 64
[see also: Unemployment rate country ranks ]

Population below poverty line:
23% (2001 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Budget:
revenues: 1.24 billion (2016 est.)
[see also: Budget - revenues country ranks ]
expenditures: 1.299 billion (2016 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
21.4% (of GDP) (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 139
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-1% (of GDP) (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 78
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
22.1% of GDP (2016 est.)
32.1% of GDP (2013)
country comparison to the world (CIA rank, may be based on non-current data): 184
[see also: Public debt country ranks ]

Fiscal year:
1 October - 30 September

Inflation rate (consumer prices):
1% (2017 est.)
0% (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 52
[see also: Inflation rate (consumer prices) country ranks ]

Exports:
$1.124 billion (2016 est.)
$1.046 billion (2015 est.)
country comparison to the world (CIA rank, may be based on non-current data): 156
[see also: Exports country ranks ]

Exports - partners:
Palau 13.6% (2017)

Exports - commodities:
transshipments of refined petroleum products, construction materials, fish, foodstuffs and beverages

Imports:
$2.964 billion (2016 est.)
$3.054 billion (2015 est.)
country comparison to the world (CIA rank, may be based on non-current data): 149
[see also: Imports country ranks ]

Imports - commodities:
petroleum and petroleum products, food, manufactured goods

Imports - partners:
Singapore 41.7%, Japan 30.6%, Hong Kong 10.6% (2017)

Debt - external:
NA
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
(31 December 2009 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Exchange rates:

the US dollar is used


NOTE: 1) The information regarding Guam on this page is re-published from the 2020 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Guam Economy 2020 information contained here. All suggestions for corrections of any errors about Guam Economy 2020 should be addressed to the CIA or the source cited on each page.
2) The rank that you see is the CIA reported rank, which may have the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assigns counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order.






This page was last modified 27-Jan-20
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