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:
agriculture: 4%
industry: 18%
services: 78% (1997)

Population below poverty line: NA%

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

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:
revenues: $1 billion
expenditures: $900 million, including capital expenditures of $185 million (1996)

Industries: tourism, pearls, agricultural processing, handicrafts

Industrial production growth rate: NA%

Electricity - production: 360 million kWh (1998)

Electricity - production by source:
fossil fuel: 59.72%
hydro: 40.28%
nuclear: 0%
other: 0% (1998)

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

See also : French Polynesia