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| Economy - overview: |
The economy depends on US military spending, tourism, and the export of fish and handicrafts. Total US grants, wage payments, and procurement outlays amounted to $1 billion in 1998. 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 has recently suffered setbacks because of the continuing Japanese slowdown; 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.
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| GDP: |
purchasing power parity - $3.2 billion (2000 est.)
|
| GDP - real growth rate: |
NA%
|
| GDP - per capita: |
purchasing power parity - $21,000 (2000 est.)
|
| GDP - composition by sector: |
agriculture:
NA%
industry:
15% (1993)
services:
NA%
|
| Population below poverty line: |
NA%
|
| Household income or consumption by percentage share: |
lowest 10%:
NA%
highest 10%:
NA%
|
| Inflation rate (consumer prices): |
0% (1999 est.)
|
| Labor force: |
60,000 (2000 est.)
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| Labor force - by occupation: |
federal and territorial government 26%, private 74% (trade 24%, other services 40%, industry 10%) (2000 est.)
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| Unemployment rate: |
15% (2000 est.)
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| Budget: |
revenues:
$605.3 million
expenditures:
$654.2 million, including capital expenditures of $NA (2000)
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| Industries: |
US military, tourism, construction, transshipment services, concrete products, printing and publishing, food processing, textiles
|
| Industrial production growth rate: |
NA%
|
| Electricity - production: |
800 million kWh (1999)
|
| Electricity - production by source: |
fossil fuel:
100%
hydro:
0%
nuclear:
0%
other:
0% (1999)
|
| Electricity - consumption: |
744 million kWh (1999)
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| Electricity - exports: |
0 kWh (1999)
|
| Electricity - imports: |
0 kWh (1999)
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| Agriculture - products: |
fruits, copra, vegetables; eggs, pork, poultry, beef
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| Exports: |
$75.7 million (f.o.b., 1999)
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| Exports - commodities: |
mostly transshipments of refined petroleum products; construction materials, fish, food and beverage products
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| Exports - partners: |
US 25%
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| Imports: |
$203 million (f.o.b., 1999 est.)
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| Imports - commodities: |
petroleum and petroleum products, food, manufactured goods
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| Imports - partners: |
US 23%, Japan 19%
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| Economic aid - recipient: |
Guam receives large transfer payments from the US Federal Treasury ($143 million in 1997) 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
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| Currency: |
US dollar (USD)
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| Exchange rates: |
the US dollar is used
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| Fiscal year: |
1 October - 30 September
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