Agriculture > products
vegetables; poultry, cattle, sheep, pigs; fish |
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Budget > Expenditures
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$60,000,000.00 |
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[8th of 165]
|
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Budget > Revenues
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$70,000,000.00 |
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[8th of 166]
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Currency
|
euro |
|
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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. |
Exchange rates
euros per US dollar - 0.8054 (2004), 0.886 (2003), 1.0626 (2002), 1.1175 (2001), 1.0854 (2000) |
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Exports
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$5,500,000.00 |
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[170th of 189]
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Exports > Commodities
fish and fish products, soybeans, animal feed, mollusks and crustaceans, fox and mink pelts |
Exports > Partners
Spain 33.6%, Belgium 21.8%, India 18.3%, France 9.4%, US 7.5% |
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Exports to US
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$1,600,000.00 |
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[169th of 224]
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Fiscal year
|
calendar year |
|
|
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GDP (purchasing power parity)
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$48,300,000.00 |
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[22nd of 187]
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Imports
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$68,200,000.00 |
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[168th of 185]
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Imports > Commodities
meat, clothing, fuel, electrical equipment, machinery, building materials |
Imports > Partners
France 51.3%, Canada 31.8%, Belgium 4.1% |
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Imports from US
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$0.00 |
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[224th of 224]
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Industries
fish processing and supply base for fishing fleets; tourism |
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Inflation rate (consumer prices)
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8.1% |
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[50th of 192]
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Trade balance with US
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-$1,600,000.00 |
|
[122nd of 224]
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Trade with US > US exports of textile, sewing machines
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0 |
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[175th of 183]
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