Economy of Martinique

2024-12-17T08:35:28Z

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{{CIA|date=July 2011}}
[[File:Martinique - Fort-de-France Centre-Ville.jpg|alt=Fort-de-France|thumb|Fort-de-France, Martinique]]
[[File:Sugar cane banana martinique.JPG|alt=Sugar cane and banana plantations - the main agricultural products of Martinique|thumb|Sugar cane and banana plantations - the main agricultural products of [[Martinique]]]]
The '''economy of Martinique''' is mostly based in the services sector. Agriculture accounts for about 6% of [[Martinique]]'s GDP and the small industrial sector for 11%. [[Sugar]] production has declined, with most of the sugarcane now used for the production of [[rum]]. Banana exports are increasing, going mostly to France. The bulk of meat, vegetable, and grain requirements must be imported, contributing to a chronic trade deficit that requires large annual transfers of aid from France. Tourism has become more important than agricultural exports as a source of foreign exchange. The majority of the work force is employed in the service sector and in administration.

== Gross domestic product ==
'''[[Gross domestic product|GDP]]:'''
real exchange rate - US$9.61 billion (in 2006)<ref name=economy>{{in lang|fr}} {{cite web|url=http://prod-afd.afd.zeni.fr/jahia/webdav/site/cerom/users/admin_cerom/public/Pdf/CR2006_ma.pdf|title=Les comptes économiques de la Martinique en 2006|author=INSEE-CEROM|author-link=INSEE|access-date=2008-01-13 |archive-url = https://web.archive.org/web/20080216021351/http://prod-afd.afd.zeni.fr/jahia/webdav/site/cerom/users/admin_cerom/public/Pdf/CR2006_ma.pdf |archive-date = 2008-02-16}}</ref>

'''GDP - real growth rate:'''
2.8% (in 2006)<ref name=economy />

'''GDP - per capita:'''
real exchange rate - US$24,118 (in 2006)<ref name=economy />

'''GDP - composition by sector:'''
 ''agriculture:''
6%
 ''industry:''
11%
 ''services:''
83% (1997 est.)

== Demographics ==
'''Population below [[poverty]] line:'''
NA%

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

'''Labor force:'''
165 900 (1998)

'''Labor force - by occupation:'''
agriculture 7%, industry 20%, services 73% (1997)

'''Unemployment rate:'''
12,9% (2021)

'''Budget:'''
 ''revenues:''
$900 million
 ''expenditures:''
$2.5 billion, including capital expenditures of $140 million (1996)

== Industries ==
'''Industries:'''
construction, [[rum]], [[cement]], [[petroleum]] refining, [[sugar]], [[tourism]]

'''Industrial production growth rate:'''
NA%

== Infrastructure ==
'''[[Electricity]] - production:'''
1,205 GWh (2003)

'''Electricity - production by source:'''
 ''[[fossil fuel]]:''
100%
 ''[[hydroelectric power|hydro]]:''
0%
 ''[[nuclear power|nuclear]]:''
0%
 ''other:''
0% (1998)

'''Electricity - consumption:'''
1535430MHW (2016)

'''Electricity - exports:'''
0 kWh (1998)

'''Electricity - imports:'''
0 kWh (1998)

== Agriculture ==
'''[[Agriculture|Agricultural]] products:'''
pineapples, avocados, bananas, flowers, vegetables, sugarcane

'''Exports:'''
US$957 million (in 2005)<ref name=economy />

'''Exports - commodities:'''
refined [[petroleum]] products, bananas, rum, pineapples

'''Exports - partners:'''
Mainland France 45%, [[Guadeloupe]] 28% (1997)

'''Imports:'''
US$3,098 billion (in 2005)<ref name=economy />

'''Imports - commodities:'''
petroleum products, crude oil, foodstuffs, construction materials, vehicles, clothing and other consumer goods

'''Imports - partners:'''
Mainland France 62%, [[Venezuela]] 6%, [[Germany]] 4%, [[Italy]] 4%, [[United States|US]] 3% (1997)

'''Debt - external:'''
$180 million (1994)

'''Economic aid - recipient:'''
Martinique receives substantial annual aid from the French state.

== Economics ==
'''[[Currency]]'''
1 [[euro]] (€) = 100 cents

'''Exchange rates:'''
[[euro]]s per [[United States|US]]$1 – 0.9867 (January 2000), 0.9386 (1999); French francs (F) per US$1 – 5.65 (January 1999), 5.8995 (1998), 5.8367 (1997), 5.1155 (1996), 4.9915 (1995)

'''Fiscal year:'''
calendar year

== See also ==
{{Portal|France|Economy}}
* Economy of France in: [[Economy of French Guiana|French Guiana]], [[Economy of French Polynesia|French Polynesia]], [[Economy of Guadeloupe|Guadeloupe]], Martinique, [[Economy of Mayotte|Mayotte]], [[Economy of New Caledonia|New Caledonia]], [[Economy of Réunion|Réunion]], [[Economy of Saint Barthélemy|Saint Barthélemy]], [[Economy of Saint Martin (France)|Saint Martin]], [[Economy of Saint Pierre and Miquelon|Saint Pierre and Miquelon]], [[Economy of Wallis and Futuna|Wallis and Futuna]]
* [[Poverty in France]]
* [[Crédit Martiniquais]]

== References ==
{{reflist}}

== External links ==
*Wong, A. and R. Gomes (2012). "Intractable social-economic problems of Martinique". Revue Etudes Carbiéennes, n°21, https://etudescaribeennes.revues.org/5795.

{{Martinique topics}}
{{Americas topic|Economy of}}
{{Caribbean in topic|Economy of}}

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[[Category:Economy of Martinique| ]]

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Economy of Martinique