According to allcitypopulation, Grenada is an island nation located in the southeastern Caribbean Sea. The island is part of the Windward Islands, which are located between the Caribbean Sea and the Atlantic Ocean. The island nation consists of Grenada itself and six smaller islands, including Carriacou and Petite Martinique. Its total land area is 344 square kilometers (133 sq mi). Grenada has a tropical climate with temperatures ranging from 21°C to 32°C year-round. According to Petwithsupplies, the capital city of Grenada is St George’s with a population of 38,000 (2014). Other major cities include Gouyave, Hillsborough.
Grenada has a market-based economy that is largely dependent on tourism, agriculture, and exports from its manufacturing sector. Agriculture accounts for over 10% of GDP and employs around one-third of the labor force in Grenada. The main agricultural products are bananas, cocoa, nutmeg, mace, citrus fruits, avocados, root crops, sugarcane, vegetables and coconut oil. Tourism is another major contributor to economic activity in Grenada; it accounts for around 30% of GDP and employs about 15% of the population.
In terms of industry in Grenada there are several light manufacturing industries such as food processing as well as furniture production; there are also some small-scale industries such as jewelry making or boat building. Additionally, there are several service industries such as banking or insurance services that operate in Grenada.
The government generates revenue through taxes on income, sales taxes on goods and services as well as customs duties on imported goods; these revenues account for around 60% of all government revenue while non-tax revenue sources make up the remaining 40%. In terms of international trade Grenada exports mainly agricultural products (fruits & vegetables), seafood & fish products as well as manufactured goods (fabrics) to other countries; its main trading partners include Trinidad & Tobago, Barbados and Canada amongst others. Additionally, it imports mainly foodstuffs (cereals) manufactured goods (machinery) fuels & lubricants from other countries; its main trading partners include Canada & USA amongst others.
Overall, despite having a relatively small population Grenada has developed a stable economy that is largely driven by tourism agriculture & manufacturing activities; however due to its size it remains vulnerable to external shocks such as hurricanes or economic downturns in major trading partners countries which can have an adverse effect on economic activity within the country.
Foreign Trade of Grenada
Grenada is an island country located in the Caribbean Sea and has a small, open economy that is primarily reliant on tourism, agriculture and exports from its manufacturing sector. It has become increasingly integrated into the global economy in recent years and foreign trade plays an important role in its economic activity.
In terms of exports, Grenada’s main export products include agricultural products (fruits & vegetables), seafood & fish products as well as manufactured goods (fabrics). Its main trading partners for these exports include Trinidad & Tobago, Barbados and Canada amongst others. Additionally, it also exports services such as financial services, medical services and education services to other countries.
In terms of imports, Grenada mainly imports foodstuffs (cereals) manufactured goods (machinery) fuels & lubricants from other countries; its main trading partners for these imports include Canada & USA amongst others. In addition to these imports Grenada also relies on foreign direct investment to finance public projects such as infrastructure development or energy projects; this foreign direct investment mainly comes from larger countries such as the United States or Europe.
Overall, due to its small size Grenada remains heavily dependent on international trade to meet its domestic needs; it is therefore actively looking at ways to diversify its export base by promoting new industries such as renewable energy or medical tourism which can help boost export revenues. Additionally, it is also looking at ways to reduce the cost of doing business within the country such as reducing taxes on imported goods or improving transport infrastructure which can help attract more foreign investment into the country.
Major Trading Partners of Grenada
Grenada is an island country located in the Caribbean Sea and has a small, open economy that is primarily reliant on tourism, agriculture and exports from its manufacturing sector. Its foreign trade plays an important role in its economic activity and it has become increasingly integrated into the global economy in recent years.
In terms of exports, Grenada’s main trading partners include Trinidad & Tobago, Barbados and Canada amongst others. Additionally, it also exports services such as financial services, medical services and education services to other countries. In terms of imports, its main trading partners include Canada & USA amongst others.
Trinidad & Tobago is one of Grenada’s major trading partners; it accounted for over a third of Grenada’s total exports in 2019 with the majority of those exports consisting of manufactured goods such as fabrics and foodstuffs such as fruits & vegetables. In addition to this it also imports petroleum products from Trinidad & Tobago which are used to meet domestic energy needs.
Barbados is another important trading partner for Grenada; it accounted for around a quarter of Grenada’s total exports in 2019 with the majority of those exports consisting of manufactured goods such as machinery parts or electronics as well as foodstuffs such as fish products or cereals. Barbados is also an important source of foreign direct investment into the country which helps finance public projects or infrastructure development within the country.
Finally, Canada is another major trading partner for Grenada; it accounted for around 15% of Grenada’s total exports in 2019 with the majority of those exports consisting of manufactured goods such as textiles or seafood products. Additionally, Canada also provides foreign direct investment into the country which helps finance public projects or infrastructure development within the country.
Overall, due to its small size Grenada remains heavily dependent on international trade to meet its domestic needs; these three countries are some of its most important trading partners providing both goods and services that help boost economic activity within the country while also providing much needed foreign direct investment which helps fund public projects or infrastructure development within the country.
Major Imports and Exports of Grenada
Grenada is a small Caribbean island nation located in the southeastern Caribbean Sea. It has a population of around 110,000 people and is heavily reliant on international trade to meet its domestic needs. Its major trading partners include Trinidad & Tobago, Barbados and Canada amongst others.
In terms of exports, Grenada’s main exports include manufactured goods such as fabrics and foodstuffs such as fruits & vegetables to Trinidad & Tobago, machinery parts or electronics as well as foodstuffs such as fish products or cereals to Barbados, and textiles or seafood products to Canada. Additionally, it also exports services such as financial services, medical services and education services to other countries.
In terms of imports, its main trading partners include Canada & USA amongst others. Grenada imports petroleum products from Trinidad & Tobago which are used to meet domestic energy needs, electronics from the US for both personal use and commercial use in businesses, industrial machinery from Canada for manufacturing activities within the country, pharmaceuticals from Europe for medical use within the country and foodstuffs from various countries including Brazil for consumption within the country.
Overall, due to its small size Grenada remains heavily dependent on international trade to meet its domestic needs; these three countries are some of its most important trading partners providing both goods and services that help boost economic activity within the country while also providing much needed foreign direct investment which helps fund public projects or infrastructure development within the country.