| Economy | Saint Pierre and Miquelon |
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Economy - overview:
|
The inhabitants have traditionally earned their livelihood by fishing and by servicing fishing fleets operating off the coast of Newfoundland. The economy has been declining, however, because of disputes with Canada over fishing quotas and a steady decline in the number of ships stopping at Saint Pierre. In 1992, an arbitration panel awarded the islands an exclusive economic zone of 12,348 sq km to settle a longstanding territorial dispute with Canada, although it represents only 25% of what France had sought. France heavily subsidizes the islands to the great betterment of living standards. The government hopes an expansion of tourism will boost economic prospects. Fish farming, crab fishing, and agriculture are being developed to diversify the local economy. Recent test drilling for oil may pave the way for development of the energy sector. |
GDP (purchasing power parity):
|
$48.3 million (2003 est.)
note: supplemented by annual payments from France of about $60 million |
GDP - per capita (PPP):
|
$7,000 (2001 est.) |
GDP (official exchange rate):
|
$NA |
GDP - real growth rate:
|
NA% |
GDP - composition by sector:
|
agriculture: NA%
industry: NA%
services: NA% |
Investment (gross fixed):
|
void |
Population below poverty line:
|
NA% |
Household income or consumption by percentage share:
|
lowest 10%: NA%
highest 10%: NA% |
Distribution of family income - Gini index:
|
void |
Inflation rate (consumer prices):
|
8.1% (2005) |
Central bank discount rate:
|
void |
Commercial bank prime lending rate:
|
void |
Stock of money:
|
void |
Stock of money - per capita:
|
void |
Stock of quasi money:
|
void |
Stock of quasi money - per capita:
|
void |
Stock of domestic credit:
|
void |
Stock of domestic credit - per capita:
|
void |
Labor force:
|
3,450 (2005) |
Labor force participation rate:
|
48.93 % of population |
Labor force - by occupation:
|
agriculture: 18%
industry: 41%
services: 41% (1996 est.) |
Unemployment rate:
|
10.3% (1999) |
Budget:
|
revenues: $70 million
expenditures: $60 million (1996 est.) |
Budget revenues per capita:
|
9,928 USD per capita |
Public debt:
|
void |
Industries:
|
fish processing and supply base for fishing fleets; tourism |
Industrial production growth rate:
|
NA% |
Electricity - production:
|
53 million kWh (2006 est.) |
Electricity - production per capita:
|
7,517 kWh per capita |
Electricity - consumption:
|
49.29 million kWh (2006 est.) |
Electricity - consumption - per capita:
|
6,991 kWh per capita |
Electricity - exports:
|
0 kWh (2007 est.) |
Electricity - imports:
|
0 kWh (2007 est.) |
Oil - production:
|
0 bbl/day (2007 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
|
560 bbl/day (2006 est.) |
Oil - consumption - per capita:
|
28.99 bbl/year per capita |
Oil - exports:
|
0 bbl/day (2005) |
Oil - imports:
|
556.8 bbl/day (2005) |
Oil - proved reserves:
|
0 bbl (1 January 2006 est.) |
Natural gas - production:
|
0 cu m (2007 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2007 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2007 est.) |
Natural gas - imports:
|
0 cu m (2007 est.) |
Natural gas - proved reserves:
|
0 cu m (1 January 2006 est.) |
Agriculture - products:
|
vegetables; poultry, cattle, sheep, pigs; fish |
Current account balance:
|
void |
Current account balance - per capita:
|
void |
Exports:
|
$5.5 million f.o.b. (2005 est.) |
Exports per capita:
|
781 USD per capita |
Exports - commodities:
|
fish and fish products, soybeans, animal feed, mollusks and crustaceans, fox and mink pelts |
Exports - partners:
|
void |
Imports:
|
$68.2 million f.o.b. (2005 est.) |
Imports per capita:
|
9,673 USD per capita |
Imports - commodities:
|
meat, clothing, fuel, electrical equipment, machinery, building materials |
Imports - partners:
|
void |
Reserves of foreign exchange and gold:
|
void |
Reserves of foreign exchange and gold - per capita:
|
void |
Debt - external:
|
$NA |
Debt - external - per capita:
|
void |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
void |
Market value of publicly traded shares - per capita:
|
void |
Economic aid - donor:
|
void |
Economic aid - recipient:
|
approximately $60 million in annual grants from France |
Economic aid - recipient per capita:
|
8,510 USD per capita |
Currency (code):
|
euro (EUR) |
Exchange rates:
|
euros (EUR) per US dollar - 0.6734 (2008 est.), 0.7345 (2007), 0.7964 (2006), 0.8041 (2005), 0.8054 (2004) |
Fiscal year:
|
calendar year |
|
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