The CIA World Factbook Every edition, 1990 to 2025 Central America and the Caribbean
Economic overview Grenada, in 36 editions.
The entry for Grenada published Economic overview in 36 editions of 36, from 1990 to 2025. The text changed in 24 editions. Each is shown as published. Economic overview in every entry.
- editions changed the text
- 24
- the first edition with it
- 1990
- the latest edition with it
- 2025
Published as “Overview” (1990 to 1995), “Economic overview” (1996 to 2025), “Economy - overview” (1997 to 2019), “Economy-overview” (1998) and “Economy--overview” (1999).
field in that editiontext changed from the edition beforenot in that editionthe edition shownChoose an edition on the strip beside the text, or step through them with the arrows. Mark changes compares it with the edition before: the marks are ours, words added and words removed.
2025 edition
Same as 2024Published as “Overview”
The economy is essentially agricultural and centers on the traditional production of spices and tropical plants. Agriculture accounts for about 20% of GDP and 90% of exports and employs 24% of the labor force. Tourism is the leading foreign exchange earner, followed by agricultural exports. Manufacturing remains relatively undeveloped, but with a more favorable private investment climate since 1983, it is expected to grow. Despite an impressive average annual growth rate for the economy of 5.5% during the period 1984-88, unemployment remains high at about 26%.
The economy is essentially agricultural and centers on the traditional production of spices and tropical plants. Agriculture accounts for about 20% of GDP and 90% of exports and employs 24% of the labor force. Tourism is the leading foreign exchange earner, followed by agricultural exports. Manufacturing remains relatively undeveloped, but with a more favorable private investment climate since 1983, it is expected to grow. Despite an impressive average annual growth rate for the economy of 5.5% during the period 1984-88, unemployment remains high at about 26%.
Published as “Overview”
The economy is essentially agricultural and centers on the traditional production of spices and tropical plants. Agriculture accounts for about 16% of GDP and 80% of exports and employs 24% of the labor force. Tourism is the leading foreign exchange earner, followed by agricultural exports. Manufacturing remains relatively undeveloped, but is expected to grow, given a more favorable private investment climate since 1983. Despite an impressive average annual growth rate for the economy of 5.6% during the period 1986-90, unemployment remains high at about 25%.
The economy is essentially agricultural and centers on the traditional production of spices and tropical plants. Agriculture accounts for about 20% 16% of GDP and 90% 80% of exports and employs 24% of the labor force. Tourism is the leading foreign exchange earner, followed by agricultural exports. Manufacturing remains relatively undeveloped, but with is expected to grow, given a more favorable private investment climate since 1983, it is expected to grow. 1983. Despite an impressive average annual growth rate for the economy of 5.5% 5.6% during the period 1984-88, 1986-90, unemployment remains high at about 26%. 25%.
Published as “Overview”
The economy is essentially agricultural and centers on the traditional production of spices and tropical plants. Agriculture accounts for about 16% of GDP and 80% of exports and employs 24% of the labor force. Tourism is the leading foreign exchange earner, followed by agricultural exports. Manufacturing remains relatively undeveloped, but is expected to grow, given a more favorable private investment climate since 1983. Despite an impressive average annual growth rate for the economy of 5.5% during the period 1986-91, unemployment remains high at about 25%.
The economy is essentially agricultural and centers on the traditional
production of spices and tropical plants. Agriculture accounts for about 16%
of GDP and 80% of exports and employs 24% of the labor force. Tourism is the
leading foreign exchange earner, followed by agricultural exports.
Manufacturing remains relatively undeveloped, but is expected to grow, given
a more favorable private investment climate since 1983. Despite an
impressive average annual growth rate for the economy of 5.6% 5.5% during the
period 1986-90, 1986-91, unemployment remains high at about 25%.
Published as “Overview”
The economy is essentially agricultural and centers on the traditional production of spices and tropical plants. Agriculture accounts for about 16% of GDP and 80% of exports and employs 24% of the labor force. Tourism is the leading foreign exchange earner, followed by agricultural exports. Manufacturing remains relatively undeveloped, but is expected to grow, given a more favorable private investment climate since 1983. The economy achieved an impressive average annual growth rate of 5.5% in 1986-91 but stalled in 1992. Unemployment remains high at about 25%.
The economy is essentially agricultural and centers on the traditional
production of spices and tropical plants. Agriculture accounts for about 16%
of GDP and 80% of exports and employs 24% of the labor force. Tourism is the
leading foreign exchange earner, followed by agricultural exports.
Manufacturing remains relatively undeveloped, but is expected to grow, given
a more favorable private investment climate since 1983. Despite an The economy achieved
an impressive average annual growth rate for the economy of 5.5% during the in 1986-91 but stalled inperiod 1986-91, unemployment 1992. Unemployment remains high at about 25%.
Published as “Overview”
The economy is essentially agricultural and centers on the traditional production of spices and tropical plants. Agriculture accounts for about 15% of GDP and 80% of exports and employs 24% of the labor force. Tourism is the leading foreign exchange earner, followed by agricultural exports. Manufacturing remains relatively undeveloped, but is expected to grow, given a more favorable private investment climate since 1983. The economy achieved an impressive average annual growth rate of 5.5% in 1986-91 but stalled in 1992. Unemployment remains high at about 25%.
The economy is essentially agricultural and centers on the traditional
production of spices and tropical plants. Agriculture accounts for about 16%
about 15% of GDP and 80% of exports and employs 24% of the labor
force. Tourism is the
agricultural exports.
but is expected to grow, given
climate since 1983. The economy achieved
growth rate of 5.5% in 1986-91 but stalled in
remains high at about 25%.
Published as “Overview”
The economy is essentially agricultural and centers on the traditional production of spices and tropical plants. Agriculture accounts for about 15% of GDP and 80% of exports and employs 24% of the labor force. Tourism is the leading foreign exchange earner, followed by agricultural exports. Manufacturing remains relatively undeveloped, but is expected to grow, given a more favorable private investment climate since 1983. The economy achieved an impressive average annual growth rate of 5.5% in 1986-91 but has stalled since 1992. Unemployment remains high at about 25%.
The economy is essentially agricultural and centers on the traditional
traditional production of spices and tropical plants. Agriculture
accounts for
the labor
followed byundeveloped,
undeveloped, but is expected to grow, given a more favorable private investment
investment climate since 1983. The economy achieved an impressive
average annualin since
1992. Unemployment
The economy is essentially agricultural and centers on the traditional production of spices and tropical plants. Agriculture accounts for about 10% of GDP and 80% of exports and employs 24% of the labor force. Tourism is the leading foreign exchange earner, followed by agricultural exports. Manufacturing remains relatively undeveloped, but is growing due to a favorable private investment climate since 1983. The economy achieved an impressive average annual growth rate of 5.5% in 1986-91 but has slowed since 1992. The new MITCHELL government has moved forward with a plan to eliminate personal income tax in the hope of spurring domestic consumption.
The economy is essentially agricultural and
centers on theAgriculture
Agriculture accounts for about 15% 10% of GDP and 80% of exports and
employs 24% of
exchange earner,
remains relativelyexpected growing due to grow, given a more favorable private
private investment climate since 1983. The economy achieved an impressive
impressive average annual growth rate of 5.5% in 1986-91 but has stalled since
slowed since 1992. Unemployment remains high at about 25%. The new MITCHELL government has moved forward
with a plan to eliminate personal income tax in the hope of spurring
domestic consumption.
Published as “Economy - overview”
The agriculturally based economy was hurt in 1996 by the emergence of the pink mealy bug which destroyed much of the cocoa harvest. Bananas, a major foreign exchange earner, also suffered due to falling prices, low production, and poor quality. Tourism, the leading foreign exchange earner, continued to do well, as did manufacturing. Construction boomed in 1996 due to concessions for low and middle income mortgages. The government introduced a 5% tax on electricity and telephones and doubled the general consumption tax, which caused a small rise in the inflation rate. The tourist industry faces stiff competition over the next few years.
Rewritten: too little of the 1996 text remains to mark the changes.
The agriculturally based economy was hurt in 1996
by the emergence of the pink mealy bug which destroyed much of the
cocoa harvest. Bananas, a major foreign exchange earner, also suffered
due to falling prices, low production, and poor quality. Tourism, the
leading foreign exchange earner, continued to do well, as did
manufacturing. Construction boomed in 1996 due to concessions for low
and middle income mortgages. The government introduced a 5% tax on
electricity and telephones and doubled the general consumption tax,
which caused a small rise in the inflation rate. The tourist industry
faces stiff competition over the next few years.
Published as “Economy-overview”
The agriculturally based economy was hurt in 1996 by the emergence of the pink mealy bug, which destroyed much of the cocoa harvest. Bananas, a major foreign exchange earner, also suffered due to falling prices, low production, and poor quality. Tourism, the leading foreign exchange earner, continued to do well, as did manufacturing. Construction boomed in 1996 due to concessions for low and middle income mortgages. The government introduced a 5% tax on electricity and telephones and doubled the general consumption tax, which caused a small rise in the inflation rate. The tourist industry faces stiff competition over the next few years.
The agriculturally based economy was hurt in 1996
the emergence of the pink mealy bug bug, which destroyed much of the
harvest. Bananas, a major foreign exchange earner, also suffered
to falling prices, low production, and poor quality. Tourism, the
leading foreign exchange earner, continued to do well, as did
manufacturing. Construction boomed in 1996 due to concessions for low
and middle income mortgages. The government introduced a 5% tax on
electricity and telephones and doubled the general consumption tax,
which caused a small rise in the inflation rate. The tourist industry
faces stiff competition over the next few years.
Published as “Economy--overview”
In this island economy progress in fiscal reforms and prudent macroeconomic management have boosted annual growth to nearly 5% in 1997-98. The increase in economic activity has been led by construction and trade. Tourist facilities are being expanded; tourism is the leading foreign exchange earner. Major short-term concerns are the rising fiscal deficit and the deterioration in the external account balance. Grenada shares a common central bank and a common currency with seven other members of the Organization of Eastern Caribbean States (OECS).
Rewritten: too little of the 1998 text remains to mark the changes.
In this island economy progress in fiscal
reforms and prudent macroeconomic management have boosted annual
growth to nearly 5% in 1997-98. The increase in economic activity
has been led by construction and trade. Tourist facilities are being
expanded; tourism is the leading foreign exchange earner. Major
short-term concerns are the rising fiscal deficit and the
deterioration in the external account balance. Grenada shares a
common central bank and a common currency with seven other members
of the Organization of Eastern Caribbean States (OECS).
Published as “Economy - overview”
In this island economy progress in fiscal reforms and prudent macroeconomic management have boosted annual growth to 5%-6% in 1998-99. The increase in economic activity has been led by construction and trade. Tourist facilities are being expanded; tourism is the leading foreign exchange earner. Major short-term concerns are the rising fiscal deficit and the deterioration in the external account balance. Grenada shares a common central bank and a common currency with seven other members of the Organization of Eastern Caribbean States (OECS).
In this island economy progress in fiscalnearly 5% 5%-6% in 1997-98. 1998-99. The increase in economic activity
Published as “Economy - overview”
In this island economy progress in fiscal reforms and prudent macroeconomic management have kept annual growth steady since 1998. The increase in economic activity has been led by construction and trade. Tourist facilities are being expanded; tourism is the leading foreign exchange earner. Major short-term concerns are the rising fiscal deficit and the deterioration in the external account balance. Grenada shares a common central bank and a common currency with seven other members of the Organization of Eastern Caribbean States (OECS).
In this island economy progress in fiscal reforms and prudent macroeconomic management have boosted kept annual growth to 5%-6% in 1998-99. steady since 1998. The increase in economic activity has been led by construction and trade. Tourist facilities are being expanded; tourism is the leading foreign exchange earner. Major short-term concerns are the rising fiscal deficit and the deterioration in the external account balance. Grenada shares a common central bank and a common currency with seven other members of the Organization of Eastern Caribbean States (OECS).
Published as “Economy - overview”
Despite government steadying of annual economic growth in recent years through progress in fiscal reform and prudent macroeconomic management, a downturn in tourist arrivals in 2001 threatens government spending in 2002. Grenada relies on tourism as its main source of foreign exchange, although it also supports a small agriculture sector and a developing offshore financial industry. Short-term concerns include a rising fiscal deficit and the deterioration in the external account balance.
Rewritten: too little of the 2001 text remains to mark the changes.
Despite government steadying of annual economic growth in recent years through progress in fiscal reform and prudent macroeconomic management, a downturn in tourist arrivals in 2001 threatens government spending in 2002. Grenada relies on tourism as its main source of foreign exchange, although it also supports a small agriculture sector and a developing offshore financial industry. Short-term concerns include a rising fiscal deficit and the deterioration in the external account balance.
The same text in 5 editions, 2003 to 2007.
Published as “Economy - overview”
Grenada relies on tourism as its main source of foreign exchange, especially since the construction of an international airport in 1985. Strong performances in construction and manufacturing, together with the development of an offshore financial industry, have also contributed to growth in national output.
Rewritten: too little of the 2002 text remains to mark the changes.
Grenada relies on tourism as its main source of foreign exchange, especially since the construction of an international airport in 1985. Strong performances in construction and manufacturing, together with the development of an offshore financial industry, have also contributed to growth in national output.
Published as “Economy - overview”
Grenada relies on tourism as its main source of foreign exchange, especially since the construction of an international airport in 1985. Strong performances in construction and manufacturing, together with the development of an offshore financial industry, have also contributed to growth in national output. Grenada has rebounded from the devastating effects of Hurricanes Ivan (2004) and Emily (2005), but is now saddled with the debt burden from the rebuilding process.
The agricultural sector, particularly nutmeg and cocoa cultivation, has gradually recovered, and the tourism sector has seen substantial increases in foreign direct investment as the regional share of the tourism market increases.
Grenada relies on tourism as its main source of foreign exchange, especially since the construction of an international airport in 1985. Strong performances in construction and manufacturing, together with the development of an offshore financial industry, have also contributed to growth in national output. Grenada has rebounded from the devastating effects of Hurricanes Ivan (2004) and Emily (2005), but is now saddled with the debt burden from the rebuilding process. The agricultural sector, particularly nutmeg and cocoa cultivation, has gradually recovered, and the tourism sector has seen substantial increases in foreign direct investment as the regional share of the tourism market increases.
Published as “Economy - overview”
Grenada relies on tourism as its main source of foreign exchange especially since the construction of an international airport in 1985. Hurricanes Ivan (2004) and Emily (2005) severely damaged the agricultural sector - particularly nutmeg and cocoa cultivation - which had been a key driver of economic growth. Grenada has rebounded from the devastating effects of the hurricanes but is now saddled with the debt burden from the rebuilding process.
Public debt-to-GDP is nearly 110%, leaving the THOMAS administration limited room to engage in public investments and social spending. Strong performances in construction and manufacturing, together with the development of tourism and an offshore financial industry, have also contributed to growth in national output; however, economic growth will likely slow in 2009 because of the global economic slowdown's effects on tourism and remittances.
Grenada relies on tourism as its main source of foreign exchange, exchange especially since the construction of an international airport in 1985. Strong performances in construction Hurricanes Ivan (2004) and manufacturing, together with Emily (2005) severely damaged the development agricultural sector - particularly nutmeg and cocoa cultivation - which had been a key driver of an offshore financial industry, have also contributed to growth in national output. economic growth. Grenada has rebounded from the devastating effects of Hurricanes Ivan (2004) and Emily (2005), the hurricanes but is now saddled with the debt burden from the rebuilding process. The agricultural sector, particularly nutmeg Public debt-to-GDP is nearly 110%, leaving the THOMAS administration limited room to engage in public investments and cocoa cultivation, has gradually recovered, social spending. Strong performances in construction and manufacturing, together with the development of tourism sector has seen substantial increases and an offshore financial industry, have also contributed to growth in foreign direct investment as the regional share national output; however, economic growth will likely slow in 2009 because of the global economic slowdown's effects on tourism market increases. and remittances.
The same text in 2010 and 2011.
Published as “Economy - overview”
Grenada relies on tourism as its main source of foreign exchange especially since the construction of an international airport in 1985. Hurricanes Ivan (2004) and Emily (2005) severely damaged the agricultural sector - particularly nutmeg and cocoa cultivation - which had been a key driver of economic growth. Grenada has rebounded from the devastating effects of the hurricanes but is now saddled with the debt burden from the rebuilding process.
Public debt-to-GDP is nearly 110%, leaving the THOMAS administration limited room to engage in public investments and social spending. Strong performances in construction and manufacturing, together with the development of tourism and an offshore financial industry, have also contributed to growth in national output; however, economic growth was stagnant in 2010 after a sizeable contraction in 2009, because of the global economic slowdown's effects on tourism and remittances.
Grenada relies on tourism as its main source of foreign exchange especially since the construction of an international airport in 1985. Hurricanes Ivan (2004) and Emily (2005) severely damaged the agricultural sector - particularly nutmeg and cocoa cultivation - which had been a key driver of economic growth. Grenada has rebounded from the devastating effects of the hurricanes but is now saddled with the debt burden from the rebuilding process. Public debt-to-GDP is nearly 110%, leaving the THOMAS administration limited room to engage in public investments and social spending. Strong performances in construction and manufacturing, together with the development of tourism and an offshore financial industry, have also contributed to growth in national output; however, economic growth will likely slow was stagnant in 2009 2010 after a sizeable contraction in 2009, because of the global economic slowdown's effects on tourism and remittances.
The same text in 2012 and 2013.
Published as “Economy - overview”
Grenada relies on tourism as its main source of foreign exchange especially since the construction of an international airport in 1985. Hurricanes Ivan (2004) and Emily (2005) severely damaged the agricultural sector - particularly nutmeg and cocoa cultivation - which had been a key driver of economic growth. Grenada has rebounded from the devastating effects of the hurricanes but is now saddled with the debt burden from the rebuilding process.
Public debt-to-GDP is nearly 110%, leaving the THOMAS administration limited room to engage in public investments and social spending. Strong performances in construction and manufacturing, together with the development of tourism and an offshore financial industry, have also contributed to growth in national output; however, economic growth remained stagnant in 2010-12 after a sizeable contraction in 2009, because of the global economic slowdown's effects on tourism and remittances.
Grenada relies on tourism as its main source of foreign exchange especially since the construction of an international airport in 1985. Hurricanes Ivan (2004) and Emily (2005) severely damaged the agricultural sector - particularly nutmeg and cocoa cultivation - which had been a key driver of economic growth. Grenada has rebounded from the devastating effects of the hurricanes but is now saddled with the debt burden from the rebuilding process. Public debt-to-GDP is nearly 110%, leaving the THOMAS administration limited room to engage in public investments and social spending. Strong performances in construction and manufacturing, together with the development of tourism and an offshore financial industry, have also contributed to growth in national output; however, economic growth was remained stagnant in 2010 2010-12 after a sizeable contraction in 2009, because of the global economic slowdown's effects on tourism and remittances.
Published as “Economy - overview”
Grenada relies on tourism as its main source of foreign exchange especially since the construction of an international airport in 1985. Hurricanes Ivan (2004) and Emily (2005) severely damaged the agricultural sector - particularly nutmeg and cocoa cultivation - which had been a key driver of economic growth. Grenada has rebounded from the devastating effects of the hurricanes but is now saddled with the debt burden from the rebuilding process.
Public debt-to-GDP is nearly 110%, leaving the MITCHELL administration limited room to engage in public investments and social spending. MITCHELL in 2013 announced a structural adjustment program that includes a plan to increase tax revenue. Strong performances in construction and manufacturing, together with the development of tourism and higher education - especially in medicine - have contributed to growth in national output; however, economic growth remained stagnant in 2010-13 after a sizeable contraction in 2009, because of the global economic slowdown's effects on tourism and remittances.
Grenada relies on tourism as its main source of foreign exchange especially since the construction of an international airport in 1985. Hurricanes Ivan (2004) and Emily (2005) severely damaged the agricultural sector - particularly nutmeg and cocoa cultivation - which had been a key driver of economic growth. Grenada has rebounded from the devastating effects of the hurricanes but is now saddled with the debt burden from the rebuilding process. Public debt-to-GDP is nearly 110%, leaving the THOMAS MITCHELL administration limited room to engage in public investments and social spending. MITCHELL in 2013 announced a structural adjustment program that includes a plan to increase tax revenue. Strong performances in construction and manufacturing, together with the development of tourism and an offshore financial industry, higher education - especially in medicine - have also contributed to growth in national output; however, economic growth remained stagnant in 2010-12 2010-13 after a sizeable contraction in 2009, because of the global economic slowdown's effects on tourism and remittances.
Published as “Economy - overview”
Grenada relies on tourism as its main source of foreign exchange especially since the construction of an international airport in 1985. Hurricanes Ivan (2004) and Emily (2005) severely damaged the agricultural sector - particularly nutmeg and cocoa cultivation - which had been a key driver of economic growth. Grenada has rebounded from the devastating effects of the hurricanes but is now saddled with the debt burden from the rebuilding process.
Public debt-to-GDP is about 110%, leaving the MITCHELL administration limited room to engage in public investments and social spending. MITCHELL in 2013 announced a structural adjustment program that includes a plan to increase tax revenue. Strong performances in construction and manufacturing, together with the development of tourism and higher education - especially in medicine - have contributed to growth in national output; however, economic growth remained stagnant in 2010-14 after a sizable contraction in 2009, because of the global economic slowdown's effects on tourism and remittances. Gross national saving – and wealth – has been declining since 2010.
Grenada relies on tourism as its main source of foreign exchange especially since the construction of an international airport in 1985. Hurricanes Ivan (2004) and Emily (2005) severely damaged the agricultural sector - particularly nutmeg and cocoa cultivation - which had been a key driver of economic growth. Grenada has rebounded from the devastating effects of the hurricanes but is now saddled with the debt burden from the rebuilding process. Public debt-to-GDP is nearly about 110%, leaving the MITCHELL administration limited room to engage in public investments and social spending. MITCHELL in 2013 announced a structural adjustment program that includes a plan to increase tax revenue. Strong performances in construction and manufacturing, together with the development of tourism and higher education - especially in medicine - have contributed to growth in national output; however, economic growth remained stagnant in 2010-13 2010-14 after a sizeable sizable contraction in 2009, because of the global economic slowdown's effects on tourism and remittances. Gross national saving – and wealth – has been declining since 2010.
Published as “Economy - overview”
Grenada relies on tourism as its main source of foreign exchange especially since the construction of an international airport in 1985. Strong performances in construction and manufacturing, together with the development of tourism and higher education - especially in medicine - contributed to growth in national output; however, economic growth remained stagnant in 2010-14, after a sizable contraction in 2009, because of the global economic slowdown's effects on tourism and remittances. Gross national saving – and wealth – has been declining since 2010.
Hurricanes Ivan (2004) and Emily (2005) severely damaged the agricultural sector - particularly nutmeg and cocoa cultivation - which had been a key driver of economic growth. Grenada has rebounded from the devastating effects of the hurricanes but is now saddled with the debt burden from the rebuilding process. Public debt-to-GDP is about 110%, leaving the MITCHELL administration limited room to engage in public investments and social spending. MITCHELL in 2013 announced a structural adjustment program that includes a plan to increase tax revenue.
Grenada relies on tourism as its main source of foreign exchange especially since the construction of an international airport in 1985. Strong performances in construction and manufacturing, together with the development of tourism and higher education - especially in medicine - contributed to growth in national output; however, economic growth remained stagnant in 2010-14, after a sizable contraction in 2009, because of the global economic slowdown's effects on tourism and remittances. Gross national saving – and wealth – has been declining since 2010.
Hurricanes Ivan (2004) and Emily (2005) severely damaged the agricultural sector - particularly nutmeg and cocoa cultivation - which had been a key driver of economic growth. Grenada has rebounded from the devastating effects of the hurricanes but is now saddled with the debt burden from the rebuilding process. Public debt-to-GDP is about 110%, leaving the MITCHELL administration limited room to engage in public investments and social spending. MITCHELL in 2013 announced a structural adjustment program that includes a plan to increase tax revenue. Strong performances in construction and manufacturing, together with the development of tourism and higher education - especially in medicine - have contributed to growth in national output; however, economic growth remained stagnant in 2010-14 after a sizable contraction in 2009, because of the global economic slowdown's effects on tourism and remittances. Gross national saving – and wealth – has been declining since 2010.
Published as “Economy - overview”
Grenada relies on tourism as its main source of foreign exchange especially since the construction of an international airport in 1985. Strong performance in construction and manufacturing, together with the development of tourism and higher education - especially in medicine - contributed to growth in national output; however, economic growth remained stagnant in the 2010-14 period, after a sizable contraction in 2009, because of the global economic slowdown's effects on tourism and remittances. Gross national saving – and wealth – has been declining since 2010.
Hurricanes Ivan (2004) and Emily (2005) severely damaged the agricultural sector - particularly nutmeg and cocoa cultivation - which had been a key driver of economic growth. Grenada has rebounded from the devastating effects of the hurricanes but is now saddled with the debt burden from the rebuilding process. Public debt-to-GDP is about 110%, leaving the MITCHELL administration limited room to engage in public investments and social spending. MITCHELL in 2013 announced a structural adjustment program that includes a plan to increase tax revenue.
Grenada relies on tourism as its main source of foreign exchange especially since the construction of an international airport in 1985. Strong performances performance in construction and manufacturing, together with the development of tourism and higher education - especially in medicine - contributed to growth in national output; however, economic growth remained stagnant in 2010-14, the 2010-14 period, after a sizable contraction in 2009, because of the global economic slowdown's effects on tourism and remittances. Gross national saving – and wealth – has been declining since 2010.
Hurricanes Ivan (2004) and Emily (2005) severely damaged the agricultural sector - particularly nutmeg and cocoa cultivation - which had been a key driver of economic growth. Grenada has rebounded from the devastating effects of the hurricanes but is now saddled with the debt burden from the rebuilding process. Public debt-to-GDP is about 110%, leaving the MITCHELL administration limited room to engage in public investments and social spending. MITCHELL in 2013 announced a structural adjustment program that includes a plan to increase tax revenue.
The same text in 2018 and 2019.
Published as “Economy - overview”
Grenada relies on tourism and revenue generated by St. George’s University - a private university offering degrees in medicine, veterinary medicine, public health, the health sciences, nursing, arts and sciences, and business - as its main source of foreign exchange. In the past two years the country expanded its sources of revenue, including from selling passports under its citizenship by investment program. These projects produced a resurgence in the construction and manufacturing sectors of the economy.
In 2017, Grenada experienced its fifth consecutive year of growth and the government successfully marked the completion of its five-year structural adjustment program that included among other things austerity measures, increased tax revenue and debt restructuring. Public debt-to-GDP was reduced from 100% of GDP in 2013 to 71.8% in 2017.
Rewritten: too little of the 2017 text remains to mark the changes.
Grenada relies on tourism and revenue generated by St. George’s University - a private university offering degrees in medicine, veterinary medicine, public health, the health sciences, nursing, arts and sciences, and business - as its main source of foreign exchange. In the past two years the country expanded its sources of revenue, including from selling passports under its citizenship by investment program. These projects produced a resurgence in the construction and manufacturing sectors of the economy. In 2017, Grenada experienced its fifth consecutive year of growth and the government successfully marked the completion of its five-year structural adjustment program that included among other things austerity measures, increased tax revenue and debt restructuring. Public debt-to-GDP was reduced from 100% of GDP in 2013 to 71.8% in 2017.
Grenada relies on tourism and revenue generated by St. George’s University - a private university offering degrees in medicine, veterinary medicine, public health, the health sciences, nursing, arts and sciences, and business - as its main source of foreign exchange. In the past two years the country expanded its sources of revenue, including from selling passports under its citizenship by investment program. These projects produced a resurgence in the construction and manufacturing sectors of the economy.
In 2017, Grenada experienced its fifth consecutive year of growth and the government successfully marked the completion of its five-year structural adjustment program that included among other things austerity measures, increased tax revenue and debt restructuring. Public debt-to-GDP was reduced from 100% of GDP in 2013 to 71.8% in 2017.
Grenada relies on tourism and revenue generated by St. George’s University - a private university offering degrees in medicine, veterinary medicine, public health, the health sciences, nursing, arts and sciences, and business - as its main source of foreign exchange. In the past two years the country expanded its sources of revenue, including from selling passports under its citizenship by investment program. These projects produced a resurgence in the construction and manufacturing sectors of the economy. In 2017, Grenada experienced its fifth consecutive year of growth and the government successfully marked the completion of its five-year structural adjustment program that included among other things austerity measures, increased tax revenue and debt restructuring. Public debt-to-GDP was reduced from 100% of GDP in 2013 to 71.8% in 2017.
The same text in 2021 and 2022.
Grenada relies on tourism and revenue generated by St. George’s University - a private university offering degrees in medicine, veterinary medicine, public health, the health sciences, nursing, arts and sciences, and business - as its main source of foreign exchange. In the past two years the country expanded its sources of revenue, including from selling passports under its citizenship by investment program. These projects produced a resurgence in the construction and manufacturing sectors of the economy.
In 2017, Grenada experienced its fifth consecutive year of growth and the government successfully marked the completion of its five-year structural adjustment program that included among other things austerity measures, increased tax revenue and debt restructuring. Public debt-to-GDP was reduced from 100% of GDP in 2013 to 71.8% in 2017.
Grenada relies on tourism and revenue generated by St. George’s University - a private university offering degrees in medicine, veterinary medicine, public health, the health sciences, nursing, arts and sciences, and business - as its main source of foreign exchange. In the past two years the country expanded its sources of revenue, including from selling passports under its citizenship by investment program. These projects produced a resurgence in the construction and manufacturing sectors of the economy.
In 2017, Grenada experienced its fifth consecutive year of growth and the government successfully marked the completion of its five-year structural adjustment program that included among other things austerity measures, increased tax revenue and debt restructuring. Public debt-to-GDP was reduced from 100% of GDP in 2013 to 71.8% in 2017.
The same text in 3 editions, 2023 to 2025.
- small OECS service-based economy;
- large tourism, construction, transportation, and education sectors;
- major spice exporter;
- shrinking but still high public debt;
- vulnerable to hurricanes;
- emerging blue economy incentives
Rewritten: too little of the 2022 text remains to mark the changes.
small OECS service-based economy; large tourism, construction, transportation, and education sectors; major spice exporter; shrinking but still high public debt; vulnerable to hurricanes; emerging blue economy incentives
No edition has those words. Try a shorter word.
Cite this page
Central Intelligence Agency. “Grenada: Economic overview.” The World Factbook, 1990–2025 editions. Archived by The Factbook, thefactbook.org/grenada/economic-overview.