Economy of French Polynesia
Economy - overview:
Since 1962, when France stationed military personnel in the region, French Polynesia has changed from a subsistence economy to one in which a high proportion of the work force is either employed by the military or supports the tourist industry. Tourism accounts for about one-fourth of GDP and is a primary source of hard currency earnings. The small manufacturing sector primarily processes agricultural products. The territory benefited from a five-year (1994-98) development agreement with France aimed principally at creating new jobs.
GDP:
purchasing power parity - $2.6 billion (1997 est.)
GDP - real growth rate:
NA%
GDP - per capita:
purchasing power parity - $10,800 (1997 est.)
GDP - composition by sector:
Population below poverty line:
NA%
Household income or consumption by percentage share:
Inflation rate (consumer prices):
1.5% (1994)
Labor force:
118,744 (of which 70,044 are employed) (1988)
Labor force - by occupation:
agriculture 13%, industry 19%, services 68% (1997)
Unemployment rate:
15% (1992 est.)
Budget:
Industries:
tourism, pearls, agricultural processing, handicrafts
Industrial production growth rate:
NA%
Electricity - production:
360 million kWh (1998)
Electricity - production by source:
Electricity - consumption:
335 million kWh (1998)
Electricity - exports:
0 kWh (1998)
Electricity - imports:
0 kWh (1998)
Agriculture - products:
coconuts, vanilla, vegetables, fruits; poultry, beef, dairy products
Exports:
$212 million (f.o.b., 1996)
Exports - commodities:
cultured pearls 50%, coconut products, mother-of-pearl, vanilla, shark meat (1997)
Exports - partners:
US 11%, France 6% (1997)
Imports:
$860 million (c.i.f., 1996)
Imports - commodities:
fuels, foodstuffs, equipment
Imports - partners:
France 44.7%, US 13.9% (1994)
Debt - external:
$NA
Economic aid - recipient:
$450.4 million (1995)
Currency:
1 Comptoirs Francais du Pacifique franc (CFPF) = 100 centimes
Exchange rates:
Comptoirs Francais du Pacifique francs (CFPF) per US$1 - 117.67 (January 2000), 111.93 (1999), 107.25 (1998), 106.11 (1997), 93.00 (1996), 90.75 (1995); note - linked at the rate of 18.18 CFPFs to the French franc
Fiscal year:
calendar year
agriculture:
4%
industry:
18%
services:
78% (1997)
lowest 10%:
NA%
highest 10%:
NA%
revenues:
$1 billion
expenditures:
$900 million, including capital expenditures of $185 million (1996)
fossil fuel:
59.72%
hydro:
40.28%
nuclear:
0%
other:
0% (1998)