Overview: The inhabitants have traditionally earned their livelihood by fishing and by servicing fishing fleets operating off the coast of Newfoundland. The economy has been declining, however, because the number of ships stopping at Saint Pierre has dropped steadily over the years. In March 1989, an agreement between France and Canada set fish quotas for Saint Pierre's trawlers fishing in Canadian and Canadian-claimed waters for three years. The agreement settles a longstanding dispute that had virtually brought fish exports to a halt. The islands are heavily subsidized by France. Imports come primarily from Canada and France.

National product: GDP - exchange rate conversion - $60 million (1991 est.)

National product real growth rate: NA%

National product per capita: $9,500 (1991 est.)

Inflation rate (consumer prices): NA%

Unemployment rate: 9.6% (1990)

Budget: revenues $18.3 million; expenditures $18.3 million, including capital expenditures of $5.5 million (1989)

External debt: $NA

Industrial production: growth rate NA%

Electricity: 10,000 kW capacity; 25 million kWh produced, 3,840 kWh per capita (1992)

Industries: fish processing and supply base for fishing fleets; tourism

Agriculture: vegetables, cattle, sheep, pigs for local consumption; fish catch of 20,500 metric tons (1989)

Economic aid: Western (non-US) countries, ODA and OOF bilateral commitments (1970-89), $500 million

Currency: 1 French franc (F)=100 centimes

Exchange rates: French francs (F) per US$1 - 5.4812 (January 1993), 5.2938 (1992), 5.6421 (1991), 5.4453 (1990), 6.3801 (1989), 5.9569 (1988)

Fiscal year: calendar year