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The Economy of French Polynesia

French Polynesian Economy

French Polynesia's map

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:

GDP - real growth rate: 2.7% (2005) 5.1% (2002)

GDP - per capita:

GDP - composition by sector: agriculture: 3.5% industry: 20.4% services: 76.1% (2005)

Population below poverty line:

Household income or consumption by percentage share: lowest 10%: NA% highest 10%: NA%

Distribution of family income - Gini index:

Inflation rate (consumer prices):

Labor force: 113,400 (2006)

Labor force - by occupation: agriculture: 13% industry: 19% services: 68% (2002)

Unemployment rate: 11.7% (2005)

Budget: revenues: $865 million expenditures: $644.1 million (1999)

Industries: tourism, pearls, agricultural processing, handicrafts, phosphates

Industrial production growth rate: NA%

Electricity - production: 475 million kWh (2006 est.)

Electricity - production by source:

Electricity - consumption: 441.8 million kWh (2006 est.)

Electricity - exports: 0 kWh (2007 est.)

Electricity - imports: 0 kWh (2007 est.)

Oil - production: 0 bbl/day (2007 est.)

Oil - consumption: 6,082 bbl/day (2006 est.)

Oil - exports: 0 bbl/day (2005)

Oil - imports: 6,271 bbl/day (2005)

Oil - proved reserves: 0 bbl (1 January 2006 est.)

Natural gas - production: 0 cu m (2007 est.)

Natural gas - consumption: 0 cu m (2007 est.)

Natural gas - exports: 0 cu m (2007 est.)

Natural gas - imports: 0 cu m (2007 est.)

Natural gas - proved reserves: 0 cu m (1 January 2006 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:

Imports: $1.706 billion f.o.b. (2005 est.)

Imports - commodities: fuels, foodstuffs, machinery and equipment

Imports - partners:

Debt - external: $NA

Economic aid - recipient:

Currency:

Currency code:

Exchange rates: Comptoirs Francais du Pacifique francs (XPF) per US dollar - 87.59 (2007), 94.97 (2006), 95.89 (2005), 96.04 (2004), 105.66 (2003) note: pegged at the rate of 119.25 XPF to the euro

Fiscal year: