Reference and Encyclopedia Resource 

AllRefer Channels :: Health | Yellow Pages | | Reference

February 26, 2024  

You are here : > Reference > World > Countries > Guam > Guam - Economy

Guam: Economy

Economy Guam
Economy - overview:
The economy depends on US military spending, tourism, and the export of fish and handicrafts. Total US grants, wage payments, and procurement outlays amounted to $1 billion in 1998. Over the past 20 years, the tourist industry has grown rapidly, creating a construction boom for new hotels and the expansion of older ones. More than 1 million tourists visit Guam each year. The industry has recently suffered setbacks because of the continuing Japanese slowdown; the Japanese normally make up almost 90% of the tourists. Most food and industrial goods are imported. Guam faces the problem of building up the civilian economic sector to offset the impact of military downsizing.
purchasing power parity - $3.2 billion (2000 est.)
GDP - real growth rate:
GDP - per capita:
purchasing power parity - $21,000 (2000 est.)
GDP - composition by sector:
agriculture: 7%
industry: 15%
services: 78% (2002 est.)
Population below poverty line:
23% (2001 est.)
Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices):
0% (1999 est.)
Labor force:
60,000 (2000 est.)
Labor force - by occupation:
federal and territorial government 26%, private 74% (trade 24%, other services 40%, industry 10%) (2000 est.)
Unemployment rate:
15% (2000 est.)
revenues: $340 million
expenditures: $445 million, including capital expenditures of $NA (2000 est.)
US military, tourism, construction, transshipment services, concrete products, printing and publishing, food processing, textiles
Industrial production growth rate:
Electricity - production:
830 million kWh (2001)
Electricity - production by source:
fossil fuel: 100%
hydro: 0%
other: 0% (2001)
nuclear: 0%
Electricity - consumption:
771.9 million kWh (2001)
Electricity - exports:
0 kWh (2001)
Electricity - imports:
0 kWh (2001)
Oil - production:
0 bbl/day (2001 est.)
Oil - consumption:
20,000 bbl/day (2001 est.)
Oil - exports:
NA (2001)
Oil - imports:
NA (2001)
Agriculture - products:
fruits, copra, vegetables; eggs, pork, poultry, beef
$75.7 million f.o.b. (1999 est.)
Exports - commodities:
mostly transshipments of refined petroleum products; construction materials, fish, food and beverage products
Exports - partners:
Japan 81.7%, South Korea 6.1%, Canada 2.4% (2002)
$203 million f.o.b. (1999 est.)
Imports - commodities:
petroleum and petroleum products, food, manufactured goods
Imports - partners:
Singapore 40.5%, South Korea 21.7%, Japan 21.6%, Hong Kong 4.9% (2002)
Debt - external:
Economic aid - recipient:
Guam receives large transfer payments from the US Federal Treasury ($143 million in 1997) into which Guamanians pay no income or excise taxes; under the provisions of a special law of Congress, the Guam Treasury, rather than the US Treasury, receives federal income taxes paid by military and civilian Federal employees stationed in Guam
US dollar (USD)
Currency code:
Exchange rates:
the US dollar is used
Fiscal year:
1 October - 30 September

Also See:

Background & Country Profile
Transnational Issues & International Disputes


Source: The CIA World Fact Book 2003

Content on this web site is provided for informational purposes only. We accept no responsibility for any loss, injury or inconvenience sustained by any person resulting from information published on this site. We encourage you to verify any critical information with the relevant authorities.

About Us | Contact Us | Terms of Use | Privacy  
Copyright 2013 All Rights reserved.
Site best viewed in 800 x 600 resolution.