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Grenada

Last updated: 2026-03-28 (today)

Budget

note

note: central government revenues and expenses (excluding grants/extrabudgetary units/social security funds) converted to US dollars at average official exchange rate for year indicated

revenues

$288.404 million (2017 est.)

expenditures

$222.475 million (2017 est.)

Exports

note

note: balance of payments - exports of goods and services in current dollars

Exports 2022

$706.195 million (2022 est.)

Exports 2023

$828.529 million (2023 est.)

Exports 2024

$858.949 million (2024 est.)

Imports

note

note: balance of payments - imports of goods and services in current dollars

Imports 2022

$785.022 million (2022 est.)

Imports 2023

$924.688 million (2023 est.)

Imports 2024

$990.587 million (2024 est.)

Industries

food and beverages, textiles, light assembly operations, tourism, construction, education, call-center operations

Public debt

Public debt 2016

82% of GDP (2016 est.)

Remittances

note

note: personal transfers and compensation between resident and non-resident individuals/households/entities

Remittances 2022

5.1% of GDP (2022 est.)

Remittances 2023

5.3% of GDP (2023 est.)

Remittances 2024

5% of GDP (2024 est.)

Exchange rates

Currency

East Caribbean dollars (XCD) per US dollar -

Exchange rates 2020

2.7 (2020 est.)

Exchange rates 2021

2.7 (2021 est.)

Exchange rates 2022

2.7 (2022 est.)

Exchange rates 2023

2.7 (2023 est.)

Exchange rates 2024

2.7 (2024 est.)

Debt - external

note

note: present value of external debt in current US dollars

Debt - external 2023

$501.371 million (2023 est.)

Economic overview

small OECS service-based economy; large tourism, construction, transportation, and education sectors; major spice exporter; shrinking but still high public debt; vulnerable to hurricanes; emerging blue economy incentives

Exports - partners

USA 24%, Antigua & Barbuda 13%, St. Vincent & the Grenadines 8%, Dominica 6%, Trinidad & Tobago 5% (2023)

note: top five export partners based on percentage share of exports

Imports - partners

USA 37%, Trinidad & Tobago 13%, Cayman Islands 10%, China 4%, UK 3% (2023)

note: top five import partners based on percentage share of imports

Real GDP per capita

note

note: data in 2021 dollars

Real GDP per capita 2022

$16,400 (2022 est.)

Real GDP per capita 2023

$17,100 (2023 est.)

Real GDP per capita 2024

$17,700 (2024 est.)

Real GDP growth rate

note

note: annual GDP % growth based on constant local currency

Real GDP growth rate 2022

7.3% (2022 est.)

Real GDP growth rate 2023

4.7% (2023 est.)

Real GDP growth rate 2024

3.7% (2024 est.)

Agricultural products

sugarcane, coconuts, eggs, vegetables, fruits, bananas, plantains, grapefruits, avocados, mangoes/guavas (2023)

note: top ten agricultural products based on tonnage

Exports - commodities

nutmeg/cardamons, fish, wheat flours, frozen fruits and nuts, aqueous paints (2023)

note: top five export commodities based on value in dollars

Imports - commodities

refined petroleum, cars, poultry, ships, plastic products (2023)

note: top five import commodities based on value in dollars

Current account balance

note

note: balance of payments - net trade and primary/secondary income in current dollars

Current account balance 2022

-$148.445 million (2022 est.)

Current account balance 2023

-$243.473 million (2023 est.)

Current account balance 2024

-$270.771 million (2024 est.)

GDP (official exchange rate)

$1.391 billion (2024 est.)

note: data in current dollars at official exchange rate

Population below poverty line

25% (2018 est.)

note: % of population with income below national poverty line

Inflation rate (consumer prices)

note

note: annual % change based on consumer prices

Inflation rate (consumer prices) 2022

2.6% (2022 est.)

Inflation rate (consumer prices) 2023

2.7% (2023 est.)

Inflation rate (consumer prices) 2024

1.1% (2024 est.)

Industrial production growth rate

2.9% (2024 est.)

note: annual % change in industrial value added based on constant local currency

Real GDP (purchasing power parity)

note

note: data in 2021 dollars

Real GDP (purchasing power parity) 2022

$1.916 billion (2022 est.)

Real GDP (purchasing power parity) 2023

$2.005 billion (2023 est.)

Real GDP (purchasing power parity) 2024

$2.08 billion (2024 est.)

Reserves of foreign exchange and gold

note

note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars

Reserves of foreign exchange and gold 2022

$371.767 million (2022 est.)

Reserves of foreign exchange and gold 2023

$404.13 million (2023 est.)

Reserves of foreign exchange and gold 2024

$423.263 million (2024 est.)

GDP - composition, by sector of origin

note

note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data

industry

14.8% (2024 est.)

services

65.2% (2024 est.)

agriculture

2.7% (2024 est.)

Household income or consumption by percentage share

note

note: % share of income accruing to lowest and highest 10% of population

lowest 10%

2.1% (2018 est.)

highest 10%

33.7% (2018 est.)

Gini Index coefficient - distribution of family income

note

note: index (0-100) of income distribution; higher values represent greater inequality

Gini Index coefficient - distribution of family income 2018

43.8 (2018 est.)