globalEDGE Blog: Grenada Seeks to Use Domestic Agriculture for Economic Growth

Grenada Seeks to Use Domestic Agriculture for Economic Growth

The small Caribbean nation of Grenada lies around one hundred twenty-five miles north of Venezuela, between the Caribbean Sea and the Atlantic Ocean. It has always had an economy built off of its island paradise lifestyle with its beautiful blue water, beaches, and landscape. This style of economy for such a small nation can only carry it so far, but Grenada now has other plans to help it make an international presence.

The island of Grenada is the second largest producer of nutmeg in the world, along with boasting the world’s only production of prime quality mace. Other agricultural products that are relevant are cinnamon, cocoa, clove, ginger, and bananas. Grenada focuses its exporting markets on the United States and the European Union, yet many of the Caribbean nations are coming together to form solutions to the problems holding them back from expanding their market further. A major weakness the country has encountered in recent years has been the destruction of agricultural products due to tropical storms and hurricanes.

Another solution Grenada is working on is developing ownership of the products that are unique to these territories through branding. The government of Grenada engaged all of the Caribbean nations in workshops that would allow the nations to help each other ensure that each nation is receiving proper identification of their products domestically as well as overseas. This movement has been followed by the two campaigns, “Made in Grenada” and “Buy Local First”, which both seek to promote manufacturing and allow the country to expand domestically and internationally. If Grenada is able to utilize trade opportunities with its nutmeg production and other domestic products, they will be able to fight off the unemployment that has plagued them thus far.

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