Includes Grenada real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Grenada economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Grenada best banks and safest banks are also available.
Basic Information
Government Type: ParliameParliamentary democracy under a constitutional monarchy; a Commonwealth realmntary republic
Capital City: Saint George’s
GDP & Economic Information
Macroeconomy & Sovereign Data
Central Bank | Eastern Caribbean Central Bank |
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Currency | East Caribbean dollars (XCD) |
International Reserves |
USD 0.23 billion (2018) International Monetary Fund (IMF), data retrieved October 2019 |
Gross Domestic Product – GDP | USD 1.2 billion (2018, estimate) |
GDP (Purchasing Power Parity) | Intl$ 1.8 billion (2018, estimate) |
GDP Data
Real GDP growth |
2007 6.1% 2008 0.9% 2009 -6.6% 2010 0.5% 2011 0.8% 2012 -1.2% 2013 2.4% 2014 7.3% 2015 6.4% 2016 3.7% 2017* 5.1% 2018* 4.8% *Estimate |
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GDP per capita – current prices | USD 11,042.4 (2018, estimate) |
GDP per capita – PPP | Intl$ 16,166.7 (2018, estimate) |
GDP (PPP) – share of world total |
1980 0.0% 1990 0.0% 2000 0.0% 2010 0.0% 2019* 0.001% |
GDP – composition by sector |
agriculture: 4.9% industry: 13.3% services: 66.7% (2018 estimate) |
Gross domestic expenditure on R&D; (% of GDP) | N/A |
Inflation |
2015 -0.6% 2016* 1.7% 2017 0.9% 2018* 0.8% 2019* 1% *Estimate |
Grenada
Inflation & Debt
Inflation |
2015 -0.6% 2016* 1.7% 2017 0.9% 2018* 0.8% 2019* 1% *Estimate *Estimate |
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Government Bond Ratings |
Standard & Poor’s: SD Moody’s: N/A Standard & Poor’s / Moody’s |
Unemployment rate |
2015 N/A 2016 N/A 2017 N/A 2018 N/A 2019 N/A *Estimate |
Household saving rates | N/A |
Public debt (General government gross debt as a % of GDP) |
2015: 90.1% 2016: 81.6% 2017: 70.1% 2018* 63.5% 2019* 59.1% *Estimate |
Public deficit (General government net lending/borrowing as a % of GDP) |
2015: -1.2%% 2016: -2.3% 2017: 3% 2018* 4.5% 2019* 3.9% *Estimate |
Market value of publicly traded shares |
2016 N/A 2017 N/A 2018 N/A |
Largest Companies | N/A |
Import/Export
Exports as percent of GDP (Exports of goods and services) | 55.8% (2016) |
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Shares in world total merchandising export | 0.0002% (2018) |
Shares in world total commercial services export | 0.01% (2018) |
Total exports | USD 660.3 million (2018 estimate) |
Export commodities | Nutmeg, bananas, cocoa, fruit and vegetables, clothing, mace, chocolate, fish |
Total imports | USD 643.3 million (2018 estimate) |
Import commodities | Food, manufactured goods, machinery, chemicals, fuel |
Exports – major partners |
US 25.3%, Japan 10.1%, Guyana 8.7%, Dominica 6.6%, St. Lucia 6.4%, Netherlands 4.7%, Barbados 4.1%, St. Kitts and Nevis 4% (2017) |
Imports – major partners | US 31.7%, Trinidad and Tobago 24.9%, China 6.7% (2017) |
Competitiveness & Trade
Current account balance | USD -0.1 billion (2018 estimate) |
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Current account balance by percentage of GDP | -11.2 % (2018 estimate) |
FDI inflows |
2016 USD 95 million 2017 USD 112 million 2018 USD 127 million |
FDI Outflows |
2016 USD 5.3 million 2017 USD 8.6 million 2018 USD 15.4 million |
Value of cross-border M&A, by country of purchaser |
2015 N/A 2016 N/A 2017 N/A 2018 N/A |
Cross-border M&A deals worth over $3 billion completed in 2014 | N/A |
Cross-border M&A deals worth over $3 billion completed in 2015 | N/A |
Best countries for doing business |
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Overall ranking: 146 out of 190 countries Subcategories: Starting a Business: 89 out of 190 countries Dealing with Construction Permits: 130 out of 190 countries Getting Electricity: 93 out of 190 countries Registering Property: 147 out of 190 countries Getting Credit: 152 out of 190 countries Protecting Minority Investors: 105 out of 190 countries Paying Taxes: 143 out of 190 countries Trading across Borders: 137 out of 190 countries Enforcing Contracts: 80 out of 190 countries Resolving Insolvency: 168 out of 190 countries |
Global competitiveness ranking | N/A |
Index of Economic Freedom | N/A |
Population & Geographic Data
Total Area | 344 sq km |
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Total Population |
1990 0.1 Million 2000 0.1 Million 2010 0.11 Million 2015 0.11 Million 2020 0.11 Million |
Urban population as % of total population |
1960 30.3% 1980 32.9% 2000 35.7% 2018 36.3% |
Population median age |
32.1 years CIA World Factbook / Population median age |
Population growth rate | 0.42% (2018 estimate) |
Life expectancy |
74.8 years (2018 estimate) CIA World Factbook / Life expectancy |
% of population living on less than $3.10 a day | N/A |
Inequality of wealth distribution (Gini index) | N/A |
Freedom House rating |
Free Political Rights: 1 Civil Liberties: 2 (2019) (1 represents the most free, 7 the least free rating) |
Total telephone subscribers as % of population |
Fixed: 29.3% Mobile: 102.1% (2017) (fixed-telephone subscribers and mobile-cellular subscribers) |
Internet users as % of total population | 59.07 % (2017) |
Language & Religon
Languages | English (official), French patois |
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Literacy |
Total population: 98.6% Male: 98.6% Female: 98.6% Definition: age 15 and over can read and write (2014 est.) |
Religions | Protestant 49.2% (includes Pentecostal 17.2%, Seventh Day Adventist 13.2%, Anglican 8.5%, Baptist 3.2%, Church of God 2.4%, Evangelical 1.9%, Methodist 1.6%, other 1.2%), Roman Catholic 36%, Jehovah’s Witness 1.2%, Rastafarian 1.2%, other 5.5%, none 5.7%, |
World Rankings
Population | 0.11million |
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Mercer Cost of living index | N/A |
C02 Emissions per capita | 2.22 metric tons per capita (2014) |
Global Finance Rankings & Awards: Grenada
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
Data Sources:
IMF World Economic Outlook
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000