Economy (Guam)
==============


     Overview:
         The economy is based on US military spending and on revenues from tourism.
         Over the past 20 years the tourist industry has grown rapidly, creating a
         construction boom for new hotels and the expansion of older ones. Visitors
         numbered about 900,000 in 1990. The small manufacturing sector includes
         textiles and clothing, beverage, food, and watch production. About 60% of
         the labor force works for the private sector and the rest for government.
         Most food and industrial goods are imported, with about 75% from the US. In
         1991 the unemployment rate was about 4.1%.
     GNP:
         purchasing power equivalent - $2.0 billion, per capita $14,000; real growth
         rate NA% (1991 est.)
     Inflation rate (consumer prices):
         12.6% (1991)
     Unemployment rate:
         4.1% (1991 est.)
     Budget:
         revenues $525 million; expenditures $395 million, including capital
         expenditures of $NA.
     Exports:
         $34 million (f.o.b., 1984)
       commodities:
         mostly transshipments of refined petroleum products, construction materials,
         fish, food and beverage products
       partners:
         US 25%, Trust Territory of the Pacific Islands 63%, other 12%
     Imports:
         $493 million (c.i.f., 1984)
       commodities:
         petroleum and petroleum products, food, manufactured goods
       partners:
         US 23%, Japan 19%, other 58%
     External debt:
         $NA
     Industrial production:
         growth rate NA%
     Electricity:
         500,000 kW capacity; 2,300 million kWh produced, 16,300 kWh per capita
         (1990)
     Industries:
         US military, tourism, construction, transshipment services, concrete
         products, printing and publishing, food processing, textiles
     Agriculture:
         relatively undeveloped with most food imported; fruits, vegetables, eggs,
         pork, poultry, beef, copra
     Economic aid:
         although Guam receives no foreign aid, it does receive large transfer
         payments from the general revenues of the US Federal Treasury into which
         Guamanians pay no income or excise taxes; under the provisions of a special
         law of Congress, the Guamanian Treasury, rather than the US Treasury,
         receives federal income taxes paid by military and civilian Federal
         employees stationed in Guam
     Currency:
         US currency is used
     Exchange rates:
         US currency is used
     Fiscal year:
         1 October - 30 September