Guam — Business
Statistics
• GDP: US$3.6 billion.
•Main exports: Re-exports of petroleum-based products, construction materials, fish, food and beverage products.
•Main imports: Petroleum and petroleum products, food and manufactured goods.
• Main trade partners: Japan, Singapore, Korea (Rep), Hong Kong and the Philippines.
Economy
Guam's economy depends largely on the US military. The island is a vital staging post for operations through the Pacific region. Tourism ranks second. In 2008, Guam received 1,179,246 visitors, 90% came from Japan.
Though crops, including maize, cassava, bananas and coconuts, are grown for domestic consumption, Guam is an important re-export center for distribution of goods throughout the Pacific, particularly to Micronesia.
The Guam government would like to attract more foreign investment, principally from Asia. It has been examining the country's potential as an offshore financial center, but there is a great deal of Pacific competition. And, such a move is not favored by Guam's tax laws.
Business Contacts
Guam Chamber of Commerce
173 Aspinall Avenue, Ada Plaza Center, Suite 101, Hagåtña, GU 96910, Guam
Tel: 472 6311 or 8001.
Website: www.guamchamber.com.gu
