Short facts about the government of Saint Pierre and Miquelon

Economy - overview:

The inhabitants have traditionally earned their livelihood by fishing and by servicing fishing fleets operating off the coast of Newfoundland. The economy has been declining, however, because of disputes with Canada over fishing quotas and a steady decline in the number of ships stopping at Saint Pierre. In 1992, an arbitration panel awarded the islands an exclusive economic zone of 12,348 sq km to settle a longstanding territorial dispute with Canada, although it represents only 25% of what France had sought. The islands are heavily subsidized by France to the great betterment of living standards. The government hopes an expansion of tourism will boost economic prospects.

GDP:	purchasing power parity - $74 million (1996 est.); supplemented by annual payments from France of about $60 million

GDP - real growth rate:

NA%

GDP - per capita:

purchasing power parity - $11,000 (1996 est.)

GDP - composition by sector:

agriculture:  NA% industry:  NA% services:  NA%

Population below poverty line:

NA%

Household income or consumption by percentage share:

lowest 10%:  NA% highest 10%:  NA%

Inflation rate (consumer prices):

2.1% (1991-96 average)

Labor force:

3,000 (1997)

Labor force - by occupation:

fishing 18%, industry (mainly fish-processing) 41%, services 41% (1996 est.)

Unemployment rate:

9.8% (1997)

Budget:

revenues:  $70 million expenditures:  $60 million, including capital expenditures of $24 million (1996 est.)

Industries:

fish processing and supply base for fishing fleets; tourism

Industrial production growth rate:

NA%

Electricity - production:

40 million kWh (1999)

Electricity - production by source:

fossil fuel:  100% hydro:  0% nuclear:  0% other:  0% (1999)

Electricity - consumption:

37.2 million kWh (1999)

Electricity - exports:

0 kWh (1999)

Electricity - imports:

0 kWh (1999)

Agriculture - products:

vegetables; poultry, cattle, sheep, pigs; fish

Exports:

$12 million (f.o.b., 1999)

Exports - commodities:

fish and fish products, soybeans, animal feed, mollusks and crustaceans, fox and mink pelts

Exports - partners:

US 43%, Egypt 14%, Japan 11%, Colombia 8% (1999)

Imports:

$55 million (f.o.b., 1999)

Imports - commodities:

meat, clothing, fuel, electrical equipment, machinery, building materials

Imports - partners:

France 44%, Canada 40% (1999)

Debt - external:

$NA

Economic aid - recipient:

approximately $65 million in annual grants from France

Currency:

French franc (FRF); euro (EUR)

Currency code:

FRF; EUR

Exchange rates:

euros per US dollar - 1.06594 (January 2001), 1.08540 (2000), 0.93863 (1999); French francs per US dollar - 5.8995 (1998), 5.8367 (1997), 5.1155 (1996)

Fiscal year:

calendar year

Source: World Factbook