Browse a full set of economic indicators

Grenada

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
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
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

Inflation & Debt

Inflation 2015 -0.6%
2016* 1.7%
2017 0.9%
2018* 0.8%
2019* 1%

*Estimate

*Estimate
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)
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)
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
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
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
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

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