French Polynesia Economy 2001

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

NOTE: The information regarding French Polynesia on this page is re-published from the 2001 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of French Polynesia Economy 2001 information contained here. All suggestions for corrections of any errors about French Polynesia Economy 2001 should be addressed to the CIA.