An Overview of the Economy
Guam has a stable economy which is primarily based on tourism
and US military spending. The amount of tourism in Guam has been
steadily been increasing for the past 20 years with the largest
amounts of people travelling from Japan and Korea, therefore the
country has seen a construction boom of new hotels and the
development of old ones. Guam has to accommodate for a larger
population with the growing tourism so the country imports most
food and industrial equipment.
| statistics |
|
| GDP (PPP) (IMF) (US$Billions) |
- |
| GDP (PPP) (CIA) (US$Billions) |
2.5 |
| GDP Growth (IMF) (%) |
- |
| GDP Growth (CIA) (%) |
- |
| GDP Per Capita (PPP) (IMF) (US$) |
- |
| GDP Per Capita (PPP) (CIA) (US$) |
15,000 |
| GDP by Sector (%) |
- |
| Inflation (%) |
2.5% |
| Population Below the Poverty Line
(%) |
23% |
| Labour Force (Millions) |
0.62 |
| Labour Force by Occupation (%) |
Agriculture: 26%
Services: 64%
Industry: 10% |
| Unemployment (%) |
11.4% |
| Main Industries |
US military, tourism, construction,
transshipment services, concrete
products, printing and publishing,
food processing, textiles. |
Source: CIA World Factbook, IMF
GDP
| economic indicators |
2003 |
2004 |
2005 |
2006 |
2007 |
| GDP (US$Billions) |
- |
- |
- |
- |
2.8 |
| GDP Growth (%) |
- |
- |
- |
- |
- |
| GDP Per Capita (US$) |
- |
- |
- |
- |
- |
| GDP Per Capita (PPP) (US$) |
21,000 |
21,000 |
21,000 |
15,000 |
15,000 |
| Inflation (%) |
0% |
0% |
0% |
2.5% |
2.5% |
| Unemployment (%) |
15% |
15% |
15% |
11.4% |
11.4% |
| Mobile Phone Users |
55,000 |
32,600 |
32,600 |
98,000 |
98,000 |
| Internet Users |
50,000 |
50,000 |
50,000 |
79,000 |
65,000 |
Sources: CIA World Factbook, IMF
Major Exports & Imports
Guam's main imports consist of petroleum products and food. The
country's main import and export partners are Singapore with 50% of
Guam's exports and Japan with 67.20% of the country's imports.
Major exports 2007
Transshipments of refined petroleum products, construction
materials, fish, food and beverage products.
major imports 2007
Petroleum and petroleum products, food, manufactured goods.
| export partners |
% of total |
| Japan |
67.2% |
| Singapore |
11.6% |
| UK |
4.8% |
| import partners |
% of total |
| Singapore |
50.0% |
| South Korea |
21.4% |
| Japan |
14.0% |
| Hong Kong |
4.6% |
Source: CIA World Factbook
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