From TheBestLinks.com
Economy - overview:
The economy depends mainly on US military spending and on tourist revenue. Over the past 20 years, the tourist industry has grown rapidly, creating a construction boom for new hotels and the expansion of older ones. More than 1 million tourists visit Guam each year. The industry suffered a setback in 1998 because of the continuing Japanese recession; the Japanese normally make up almost 90% of the tourists. Most food and industrial goods are imported. Guam faces the problem of building up the civilian economic sector to offset the impact of military downsizing.
GDP:
purchasing power parity - $3 billion (1996 est.)
GDP - real growth rate:
NA%
GDP - per capita:
purchasing power parity - $19,000 (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):
4% (1992 est.)
Labor force:
65,660 (1995)
Labor force - by occupation:
federal and territorial government 31%, private 69% (trade 21%, services 33%, construction 12%, other 3%) (1995)
Unemployment rate:
2% (1992 est.)
Budget:
- revenues: $524.3 million
- expenditures: $361.4 million, including capital expenditures of $NA (1995)
Industries:
US military, tourism, construction, transshipment services, concrete products, printing and publishing, food processing, textiles
Industrial production growth rate:
NA%
Electricity - production:
800 GWh (1998)
Electricity - production by source:
- fossil fuel: 100%
- hydro: 0%
- nuclear: 0%
- other: 0% (1998)
Electricity - consumption:
744 GWh (1998)
Electricity - exports:
0 kWh (1998)
Electricity - imports:
0 kWh (1998)
Agriculture - products:
fruits, copra, vegetables; eggs, pork, poultry, beef
Exports:
$86.1 million (f.o.b., 1992)
Exports - commodities:
mostly transshipments of refined petroleum products, construction materials, fish, food and beverage products
Exports - partners:
United States 25%
Imports:
$202.4 million (c.i.f., 1992)
Imports - commodities:
petroleum and petroleum products, food, manufactured goods
Imports - partners:
United States 23%, Japan 19%, other 58%
Debt - external:
$NA
Economic aid - recipient:
$NA; note - although Guam receives no foreign aid, it does receive large transfer payments from the general revenues of the US Federal Treasury into which Guamanians pay no income or excise taxes; under the provisions of a special law of Congress, the Guam Treasury, rather than the US Treasury, receives federal income taxes paid by military and civilian Federal employees stationed in Guam.
Currency:
1 United States dollar (USD) = 100 cents
Exchange rates:
US currency is used
Fiscal year:
1 October - 30 September
- See also : Guam
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