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Carib Indians inhabited Grenada when Christopher COLUMBUS discovered the island in 1498, but it remained uncolonized for more than a century. The French settled Grenada in the 17th century, established sugar estates, and imported large numbers of African slaves. Britain took the island in 1762 and vigorously expanded sugar production. In the 19th century, cacao eventually surpassed sugar as the main export crop; in the 20th century, nutmeg became the leading export. In 1967, Britain gave Grenada autonomy over its internal affairs. Full independence was attained in 1974 making Grenada one of the smallest independent countries in the Western Hemisphere. Grenada was seized by a Marxist military council on 19 October 1983. Six days later the island was invaded by US forces and those of six other Caribbean nations, which quickly captured the ringleaders and their hundreds of Cuban advisers. Free elections were reinstituted the following year and have continued since then.

Location

Caribbean, island between the Caribbean Sea and Atlantic Ocean, north of Trinidad and Tobago

Natural Resources

timber, tropical fruit

Population - distribution

approximately one-third of the population is found in the capital of St. George's; the island's population is concentrated along the coast

107818
English (official), French patois
SAINT GEORGE'S (capital) 38,000 (2014)
Conventional long form
none
Conventional short form
Grenada
Local long form
Local short form
parliamentary democracy (Parliament); a Commonwealth realm
Name
St. George's
Geographic coordinates
12 03 N, 61 45 W
Time difference
UTC-4 (1 hour ahead of Washington, DC, during Standard Time)
has not submitted an ICJ jurisdiction declaration; accepts ICCt jurisdiction
Grenada relies on tourism as its main source of foreign exchange especially since the construction of an international airport in 1985. Strong performance in construction and manufacturing, together with the development of tourism and higher education - especially in medicine - contributed to growth in national output; however, economic growth remained stagnant in the 2010-14 period, after a sizable contraction in 2009, because of the global economic slowdown's effects on tourism and remittances. Gross national saving – and wealth – has been declining since 2010.
Inflation
-0.622%
External debt stocks
US$ 685,793,000
Total tax rate (% of commercial profits)
45.3%
Real Interest Rate
7.171%
Manufacturing, value added (% of GDP)
4.309%
Current Account Balance
US$ -212,831,042
Labor Force, Total
Employment in Agriculture
13.78%
Employment in Industry
23.87%
Employment in Services
58.55%
Unemployment Rate
10.20%
Imports of goods and services
US$ 425,294,141
Exports of goods and services
US$ 240,909,700
Total Merchandise Trade
37.79%
FDI, net inflows
US$ 60,673,333
Commercial Service Exports
US$ 160,699,526
bananas, cocoa, nutmeg, mace, citrus, avocados, root crops, sugarcane, corn, vegetables
food and beverages, textiles, light assembly operations, tourism, construction
Commodities
nutmeg, bananas, cocoa, fruit and vegetables, clothing, mace
Partners
Nigeria 44.7%, St. Lucia 10.8%, Antigua and Barbuda 7.3%, St. Kitts and Nevis 6.6%, Dominica 6.6%, US 5.8% (2015)
Commodities
food, manufactured goods, machinery, chemicals, fuel
Partners
Trinidad and Tobago 49.7%, US 16.4% (2015)
Country Risk Rating
Business Climate Rating

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