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World > Oceania > French Polynesia > Economy (Facts)

French Polynesia - Economy (Facts)
Economy - overview: Since 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 - real growth rate: 5.1% (2002)
GDP (purchasing power parity): $4.58 billion (2003 est.)
GDP (official exchange rate): $3.8 billion (2002)
GDP - per capita (PPP): $17,500 (2003 est.)
GDP - composition by sector: agriculture: 3.1%
industry: 19%
services: 76.9% (2005)
Population below poverty line: NA
Household income or consumption by percentage share: lowest 10%: NA
highest 10%: NA
Inflation rate (consumer prices): 1.1% (2006 est.)
Labor force: 65,930 (December 2005)
Labor force - by occupation: agriculture: 13%
industry: 19%
services: 68% (2002)
Unemployment rate: 11.7% (2005)
Budget: revenues: $865 million
expenditures: $644.1 million; including capital expenditures of $185 million (1999)
Industries: tourism, pearls, agricultural processing, handicrafts, phosphates
Industrial production growth rate: NA
Electricity - production: 607 million kWh (2005)
Electricity - consumption: 533 million kWh (2005)
Electricity - exports: 0 kWh (2004)
Electricity - imports: 0 kWh (2004)
Oil - production: 0 bbl/day (2004 est.)
Oil - consumption: 6,000 bbl/day (2004 est.)
Oil - exports: NA bbl/day
Oil - imports: NA bbl/day
Oil - proved reserves: 0 bbl
Natural gas - production: 0 cu m (2004 est.)
Agriculture - products: fish; coconuts, vanilla, vegetables, fruits, coffee; poultry, beef, dairy products
Exports: $211 million f.o.b. (2005 est.)
Exports - commodities: cultured pearls, coconut products, mother-of-pearl, vanilla, shark meat
Exports - partners: France 46.3%, Japan 20.8%, Niger 12.8%, US 12.5% (2006)
Imports: $1.706 billion f.o.b. (2005 est.)
Imports - commodities: fuels, foodstuffs, machinery and equipment
Imports - partners: France 52.7%, Singapore 14.9%, NZ 6.8%, US 6.6% (2006)
Debt - external: NA
Economic aid - recipient: $580 million (2004)
Currency: CFP Franc (XPF)

Current CFP Franc Exchange Rates
Historical CFP Franc Exchange Rates
Chart CFP Franc Exchange Rates
Currency code: XPF
Exchange rates: Comptoirs Francais du Pacifique francs (XPF) per US dollar - 95.03 (2006), 95.89 (2005), 96.04 (2004), 105.66 (2003), 126.71 (2002)
note: pegged at the rate of 119.25 XPF to the euro
Fiscal year: calendar year


Facts at a Glance: Geography - People - Government - Economy - Communications - Transportation - Military - Climate - Current Time - Ranking Positions - CFP Franc Exchange Rates



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