Grenada Travel Guide

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Statistics

• GDP: US$657 million (2008).
• Main exports: Nutmeg, bananas, cocoa, fruit and vegetables and mace.
• Main imports: Food, manufactured goods, machinery, chemicals and fuel.
• Main trade partners: Trinidad & Tobago, The Netherlands, Germany and UK.

Economy

Grenada relies on tourism as its main source of foreign exchange, especially after Hurricanes Ivan (2004) and Emily (2005) severely damaged the nutmeg industry, which was previously a key driver of economic growth. The agricultural sector, particularly nutmeg and cocoa cultivation, has recovered from the hurricanes, and the tourism sector has seen substantial increases in foreign direct investment.

Strong performances in construction and manufacturing have contributed to growth in national output but economic growth is expected to slow in 2009 because of the global economic crisis. As a result of Hurricanes Ivan and Emily, Grenada is saddled with debt. Public debt-to-GDP is nearly 110%, leaving the government limited room for social spending. Unemployment stands at 12.5%.

Business Etiquette

All correspondence and trade literature is in English.

Office hours: Mon-Thurs 0800-1500; Fri 0800-1700. Government offices are generally open Mon-Fri 0800-1600 but are closed 1200-1300 for lunch.

Business Contacts

Grenada Chamber of Industry and Commerce
PO Box 129, St George's, Grenada
Tel: 440 2937 or 8858.
Website: www.grenadachamber.org

Conferences & Conventions

There are 11 hotels offering meeting facilities, seating from 25 to 160 persons. For details, contact Grenada Board of Tourism (see Contact Addresses).