Short facts about the economy in 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:

2.5% (1997 est.)

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:

70,000 (1996)

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:

430 million kWh (1999)

Electricity - production by source:

fossil fuel:  51.16% hydro:  48.84% nuclear:  0% other:  0% (1999)

Electricity - consumption:

399.9 million kWh (1999)

Electricity - exports:

0 kWh (1999)

Electricity - imports:

0 kWh (1999)

Agriculture - products:

coconuts, vanilla, vegetables, fruits; poultry, beef, dairy products

Exports:

$205 million (f.o.b., 1999)

Exports - commodities:

cultured pearls 50%, coconut products, mother-of-pearl, vanilla, shark meat (1997)

Exports - partners:

Japan 62%, US 21% (1999)

Imports:

$749 million (f.o.b., 1999)

Imports - commodities:

fuels, foodstuffs, equipment

Imports - partners:

France 53%, US 13%, Australia 10% (1999)

Debt - external:

$NA

Economic aid - recipient:

$367 million (1997)

Currency:

Comptoirs Francais du Pacifique franc (XPF)

Currency code:

XPF

Exchange rates:

Comptoirs Francais du Pacifique francs (XPF) per US dollar - 127.11 (January 2001), 129.44 (2000), 111.93 (1999), 107.25 (1998), 106.11 (1997), 93.00 (1996); note - pegged at the rate of 119.25 XPF to the euro

Fiscal year:

calendar year

Source: World Factbook