French Polynesia Economy
Economy - overviewSince 1962, when France stationed military personnel in the region, French Polynesia has changed from a subsistence agricultural economy to one in which a high proportion of the work force is either employed by the military or supports the tourist industry. With the halt of French nuclear testing in 1996, the military contribution to the economy fell sharply. Tourism accounts for about one-fourth of GDP and is a primary source of hard currency earnings. Other sources of income are pearl farming and deep-sea commercial fishing. The small manufacturing sector primarily processes agricultural products. The territory benefits substantially from development agreements with France aimed principally at creating new businesses and strengthening social services.
GDP
purchasing power parity - $4.58 billion (2003 est.)
GDP - real growth rate
4% (2001 est.)
GDP - per capita
purchasing power parity - $17,500 (2001 est.)
GDP - composition by sector
agriculture: 6%
industry: 18%
services: 76% (1997)
Population below poverty line
NA
Household income or consumption by percentage share
lowest 10%: NA
highest 10%: NA
Inflation rate
1.5% (2002 est.)
Labor force
70,000 (1996)
Labor force - by occupation
agriculture 13%, industry 19%, services 68% (1997)
Unemployment rate
11.8% (1994)
Budget
revenues: $1 billion
expenditures: $900 million, including capital expenditures of $185 million (1996)
Agriculture - products
coconuts, vanilla, vegetables, fruits; poultry, beef, dairy products, coffee
Industries
tourism, pearls, agricultural processing, handicrafts, phosphates
Industrial production growth rate
NA
Electricity - production
428.3 million kWh (2001)
Electricity - consumption
398.3 million kWh (2001)
Electricity - exports
0 kWh (2001)
Electricity - imports
0 kWh (2001)
Oil - production
0 bbl/day (2001 est.)
Oil - consumption
4,750 bbl/day (2001 est.)
Oil - exports
NA (2001)
Oil - imports
NA (2001)
Exports
$244 million f.o.b. (2002)
Exports - commodities
cultured pearls, coconut products, mother-of-pearl, vanilla, shark meat
Exports - partners
France 66.3%, Japan 16.1%, US 9.1% (2003)
Imports
$1.341 billion f.o.b. (2002)
Imports - commodities
fuels, foodstuffs, machinery and equipment
Imports - partners
France 59.9%, Australia 11.9%, New Zealand 6%, US 6% (2003)
Debt - external
NA (2000 est.)
Currency
Comptoirs Francais du Pacifique franc (XPF)
Currency code
XPF
Exchange rates
Comptoirs Francais du Pacifique francs (XPF) per US dollar - 105.73 (2003), 126.72 (2002), 133.26 (2001), 129.43 (2000), 111.93 (1999)
note: pegged at the rate of 119.25 XPF to the euro
