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Guam:
Economy

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Economy - overview
Definition
The economy depends largely on US military spending and tourism. Total US grants, wage payments, and procurement outlays amounted to $1.3 billion in 2004. Over the past 30 years, the tourist industry has grown to become the largest income source following national defense. The Guam economy continues to experience expansion in both its tourism and military sectors.
GDP (purchasing power parity)
Definition - World rank and map
$2.5 billion (2005 est.)
GDP (official exchange rate)
Definition
$2.773 billion (2001)
GDP - real growth rate
Definition - World rank and map
NA%
GDP - per capita
Definition - World rank and map
$15,000 (2005 est.)
GDP - composition by sector
Definition
agriculture: NA%
industry: NA%
services: NA%
Labor force
Definition
62,050 (2002 est.)
Labor force - by occupation
Definition
agriculture: 26%
industry: 10%
services: 64% (2004 est.)
Unemployment rate
Definition - World rank and map
11.4% (2002 est.)
Population below poverty line
Definition
23% (2001 est.)
Household income or consumption by percentage share
Definition
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices)
Definition - World rank and map
2.5% (2005 est.)
Budget
Definition
revenues: $319.6 million
expenditures: $427.8 million (2002 est.)
Agriculture - products
Definition
fruits, copra, vegetables; eggs, pork, poultry, beef
Industries
Definition
US military, tourism, construction, transshipment services, concrete products, printing and publishing, food processing, textiles
Industrial production growth rate
Definition - World rank and map
NA%
Electricity - production
Definition - World rank and map
1.793 billion kWh (2005)
Electricity - consumption
Definition - World rank and map
1.667 billion kWh (2005)
Electricity - consumption per capita
Definition - World rank and map
9,478.3 kWh (2005)
Electricity - exports
Definition
0 kWh (2005)
Electricity - imports
Definition
0 kWh (2005)
Oil - production
Definition - World rank and map
0 bbl/day (2005 est.)
Oil - consumption
Definition - World rank and map
13,530 bbl/day (2005 est.)
Oil - consumption per 1,000 people
Definition - World rank and map
76.9 bbl/day (2005 est.)
Oil - exports
Definition - World rank and map
0 bbl/day (2004)
Oil - imports
Definition - World rank and map
12,130 bbl/day (2004)
Oil - proved reserves
Definition - World rank and map
0 bbl (1 January 2006 est.)
Natural gas - production
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption per capita
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - exports
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - imports
Definition - World rank and map
0 cu m (2005)
Natural gas - proved reserves
Definition - World rank and map
0 cu m (1 January 2006 est.)
Exports
Definition - World rank and map
$45 million f.o.b. (2004 est.)
Exports - commodities
Definition
transshipments of refined petroleum products, construction materials, fish, food and beverage products
Exports - partners
Definition
Japan 67.2%, Singapore 11.6%, UK 4.8% (2006)
Imports
Definition - World rank and map
$701 million f.o.b. (2004 est.)
Imports - commodities
Definition
petroleum and petroleum products, food, manufactured goods
Imports - partners
Definition
Singapore 50%, South Korea 21.4%, Japan 14%, Hong Kong 4.6% (2006)
Debt - external
Definition - World rank and map
$NA
Economic aid - recipient
Definition
Guam receives large transfer payments from the US Federal Treasury 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 (2001 est.)
Currency (code)
Definition
US dollar (USD)
Exchange rates
Definition
the US dollar is used
Fiscal year
Definition
1 October - 30 September


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