Economy of French Polynesia

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 one-fourth of GDP and is a primary source of hard currency earnings. The small manufacturing sector primarily processes agricultural products.

GDP: nominal - US$5.65 billion (2006)

GDP - real growth rate: -0.43% (in 2006)

GDP - per capita: nominal - US$21,999 (2006)

GDP - composition by sector:
agriculture: 3.1%
industry: 19%
services: 76.9% (2005)

Population below poverty line: NA%

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices): 1.1% (2006)

Labor force: 65 870 (December 2005)

Labor force - by occupation: agriculture 13%, industry 19%, services 68% (2002)

Unemployment rate: 11.8% (1994 est.)

revenues: $865 million
expenditures: $644,1 million, including capital expenditures of $185 million (1999)

Industries: tourism, pearls, agricultural processing, handicrafts, phosphates

Industrial production growth rate: NA%

Electricity - production: 477 GWh (2004)

Electricity - production by source:
fossil fuel: 59.72%
hydropower: 40.28%
nuclear power: 0%
other: 0% (1998)

Electricity - consumption: 443.6 GWh (2004)

Electricity - exports: 0 kWh (2004)

Electricity - imports: 0 kWh (2004)

Agriculture - products: fish, coconuts, vanilla, vegetables, fruits, coffee, poultry, beef, dairy products

Exports: US$0.2 billion (2008)

Exports - commodities: cultured pearls 50%, coconut products, mother-of-pearl, vanilla, shark meat (1997)

Exports - partners: Hong Kong 41%, Metropolitan France 20%, Japan 14%, United States 8% (2008)

Imports: $2.2 billion (2008)

Imports - commodities: fuels, foodstuffs, equipment

Imports - partners: Metropolitan France 30%, Singapore 14%, United States 10%, China 7%, New Zealand 6%, Australia 3% (2008)

Debt - external: $NA

Economic aid - recipient: $580 million (2004)

Currency: 1 Comptoirs Francais du Pacifique franc (CFPF) = 100 centimes

Exchange rates: Comptoirs Francais du Pacifique francs (CFPF) per US$1 – 95.89 (2005), 96.04 (2004), 105.66 (2003), 126.71 (2002), 133.26 (2001), 117.67 (January 2000), 111.93 (1999), 107.25 (1998), 106.11 (1997), 93.00 (1996), 90.75 (1995); note - linked at the exact official rate of 0.055 French francs to one Pacifique franc. Now that France has switched its currency to the euro, this static link remains true, at the rate of about 119.26 Pacifique franc to one euro (1 euro being exactly 6.55957 French francs).

Fiscal year: calendar year

Famous quotes containing the words economy of, economy and/or french:

    Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.
    Friedrich Nietzsche (1844–1900)

    The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.
    Henry David Thoreau (1817–1862)

    It was not reason that besieged Troy; it was not reason that sent forth the Saracen from the desert to conquer the world; that inspired the crusades; that instituted the monastic orders; it was not reason that produced the Jesuits; above all, it was not reason that created the French Revolution. Man is only great when he acts from the passions; never irresistible but when he appeals to the imagination.
    Benjamin Disraeli (1804–1881)