Grenada: Economy
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Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
Upper Middle Income |
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Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
Data Unavailable |
| Economic Trivia | Grenada is one of the world's largest exporters of nutmeg and mace. |
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Trade
Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. |
Top 3 Trade Partners (2021): United States, Trinidad and Tobago, and Cayman Islands |
| Top Industries Source: CIA World Factbook | Food and Beverages; Textiles; Light Assembly Operations; Tourism |
Gross Domestic Product (GDP) [1]
| GDP, PPP (current international) | $2,130,831,415 (2022) |
| GDP Growth Rate (annual %) | 5.8% (2022) |
| GDP Per Capita, PPP (current international) | $16,987 (2022) |
GDP Country Rank 181/197 (2022)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | 1.22% (2021) |
| External debt stocks, total (DOD, current US$) | $725,553,606 (2021) |
| Total tax rate (% of commercial profits) | 47.8% (2019) |
| Real Interest Rate (5 year average %) | 0.636% (2022) |
| Manufacturing, value added (% of GDP) | 3.173% (2022) |
| Current Account Balance (BoP, current US$) | ($293,775,902) (2021) |
Labor and Employment [1]
| Labor Force, Total | Data unavailable |
| Employment in Agriculture (% of total employment) | 13.78% (1998) |
| Employment in Industry (% of total employment) | 23.87% (1998) |
| Employment in Services (% of total employment) | 58.55% (1998) |
| Unemployment Rate | 10.2% (2001) |
Trade [1]
| Imports of goods and services (current US$) | $592,152,407 (2020) |
| Exports of goods and services (current US$) | $251,283,044 (2020) |
| Total Merchandise Trade (% of GDP) | 49.824% (2022) |
| FDI, net inflows (BoP, current US$) | $159,967,673 (2022) |
| Commercial Service Exports (current US$) | $343,047,506 (2021) |
Economic Snapshot [1]
Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.
How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Grenada’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.