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 20% of GDP and is a primary source of hard currency earnings. The small manufacturing sector primarily processes agricultural products. The territory will continue to benefit from a five-year (1994-98) development agreement with France aimed principally at creating new jobs.

GDP purchasing power parity - $1.76 billion (1995 est.)

GDP - real growth rate NA%

GDP - per capita purchasing power parity - $8,000 (1995 est.)

GDP - composition by sector
agriculture: 4%
industry: 18%
services: 78% (1992 est.)

Inflation rate - consumer price index 1.5% (1994)

Labor force
total: 118,744 (of which 70,044 are employed) (1988)
by occupation: agriculture 13%, industry 19%, services 68% (1992 est.)

Unemployment rate 15% (1992 est.)

Budget
revenues: $636 million
expenditures: $643 million, including capital expenditures of $NA (1994)

Industries tourism, pearls, agricultural processing, handicrafts

Industrial production growth rate NA%

Electricity - capacity 79,000 kW (1995)

Electricity - production 330 million kWh (1995)

Electricity - consumption per capita 1,500 kWh (1995)

Agriculture - products coconuts, vanilla, vegetables, fruits; poultry, beef, dairy products

Exports
total value: $245 million (f.o.b., 1994)
commodities: cultured pearls 53.8%, coconut products, mother-of-pearl, vanilla, shark meat (1992)
partners: France 33%, US 8.5% (1994)

Imports
total value: $967 million (c.i.f., 1994)
commodities: fuels, foodstuffs, equipment
partners: France 44.7%, US 13.9% (1994)

Debt - external $NA

Economic aid
recipient: ODA, $NA

Currency 1 CFP franc (CFPF) = 100 centimes

Exchange rates Comptoirs Francais du Pacifique francs (CFPF) per US$1 - 110.60 (January 1998), 106.11 (1997), 93.00 (1996), 90.75 (1995), 100.94 (1994), 102.96 (1993); note - linked at the rate of 18.18 to the French franc

Fiscal year calendar year

NOTE: The information regarding French Polynesia on this page is re-published from the 1998 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of French Polynesia Economy 1998 information contained here. All suggestions for corrections of any errors about French Polynesia Economy 1998 should be addressed to the CIA.