Grenada At A Glance

Geography & Economy

01

Land / Area

Collectively, the tri-island state of Grenada, Carriacou, and Petite Martinique is a total area of approximately 342 square kilometers (133 square miles). Oval in shape, the island is approximately 21 miles (34 km) long and 12 miles (19 km) wide.

02

Climate

Grenada has a tropical climate; average temperatures range between 75F and 85F (24C to 30C). The lowest temperatures occur between November and January. The climate is generally warm throughout the year with some seasonal changes – the dry season is between January and May while the rainy/wet season is from June to December.

03

Environment

The island has one of the most pristine physical environments in the Caribbean. Dubbed “the spice island”, it features spice plantations, lush verdant mountains, and rain forests, cascading waterfalls, rivers, volcanic crater lakes and ponds, tropical flora and fauna, and beautiful white and black sand beaches.

04

Language

English is the official language in Grenada. However, since the island has a diverse population, it is not uncommon to hear other languages such as Spanish and Patois.

05

Ethnic Groups

Grenada has a mix of ethnic groups. Approximately 82% of the population are of African descent with the remaining 18% comprising a mix of East Indian, Caucasian, Chinese, Syrian/Lebanese, and Hispanic ancestry.

06

Religion

Religious practices in Grenada primarily comprise of Christians, Rastafarians, and Muslims. The main Christian denominations are Roman Catholic, Anglican, Pentecostal, Seventh Day Adventist and Baptist.

07

Culture

Grenada has a dynamic culture that represents the mix of ethnicity on island. Grenadian culture is expressed through pageantry, music, poetry, dance, sport, recreation, cuisine and theatre.

08

Infrastructure

The country has good physical infrastructure which is inclusive of an international airport, contemporary port and cruise ship facilities, and modern telecommunications network which makes the country well poised for investments.

Economic Profile

Grenada’s economy is relatively diversified, with several sectors making tangible contributions to GDP annually. In the past, agriculture was the most dominant sector and the main foreign exchange earner for the country. Today, however, the economy has shifted to being more service-based, with tourism, construction, transport, and private education being the leading contributors to GDP.

The country’s principal export crops are spices – nutmeg, and mace – from which it gets its reputation as “the spice island.” Other crops for export include cocoa, soursop, citrus fruits, cloves, and cinnamon. Grenada also exports large amounts of fish, specifically, yellow-fin tuna, to the United States and Europe.

Manufacturing industries in Grenada operate mostly on a small scale, including the production of beverages, flour and other foodstuffs, textiles, and animal feed. Notwithstanding the relatively small scale of manufacturing, Grenada is becoming known for its organic chocolate, which is growing in popularity worldwide.

Key Economic Indicators

1.211

GDP (in current prices)
(US$ MM)

100

Current Account Balance
(US$ MM)

300

Imports (CIF)
(US$ MM)

10.8

GDP Per Capita
(US$ MM)

20

Consumer Price Index
(Avg. rate)

100k

Balance of Trade
(US$)

3.37%

GDP Growth Rate %
(2019)

30

Export (FOB)
(US$ MM)

$2.72

Average Exchange Rate
from XCD to $1 USD

Movement of Goods

Grenada’s main trade partners are the United States, Germany, the United Kingdom, the Netherlands, Barbados, China, and Saint Vincent, and the Grenadines. Customs duties are not very high, trade barriers are limited, and imports destined for government institutions are free of customs duty. The country’s trade policy aims at moving away from an agricultural economy to a service-based economy, with the government pledging to reduce manufacturing costs of goods in a bit to become more competitive.

Exports

Grenada’s main export products are Coca, Nutmeg, Mace, Fish, Fresh Fruits and Vegetables, Wheat Bran, Flour, Animal Feed, Malt and Beverages, Clothing, Paints and Varnish and Paper Products

Imports

The primary imports to the island are Fuel, Crude Material, Chemicals, Machinery, Food and Live Animals, Manufactured Goods, Equipment and Transport.

Trading Partners

Grenada exports and imports products between several countries throughout the OECS, CARICOM, Caribbean, Americas, and the European Community.

Countries & Regions	Imports	Exports
OECS	St. Vincent, Dominica, St. Lucia
CARICOM	Jamaica, Guyana, Barbados, Bahamas, Trinidad and Tobago	Trinidad & Tobago, St. Lucia
Caribbean	Dominican Republic, Curaco
Americas	USA	USA, Argentina
European Community	United Kingdom, Germany, Denmark, France, Ireland, Netherlands, Italy	United Kingdom, Germany, France, Netherlands, Italy