The economic activity of Mayotte is based primarily on the agricultural sector, including fishing and livestock raising. The island is not self-sufficient and must import a large portion of its food requirements, mainly from Metropolitan France. The economy and future development of the island are heavily dependent on French financial assistance, an important supplement to GDP. Mayotte's remote location is an obstacle to the development of tourism.
GDP (official exchange rate): US$547 million (in 2001)
GDP - per capita (official exchange rate): US$3,550 (in 2001)
GDP - composition by sector: agriculture: NA% industry: NA% services: NA%
Labor force: 48,800 (2000)
Unemployment rate: 38% (1999)
Population below poverty line: NA%
Household income or consumption by percentage share: lowest 10%: NA% highest 10%: NA%
Inflation rate (consumer prices): NA%
Budget: revenues: $NA expenditures: $73 million; including capital expenditures of $NA (1991 est.)
Agriculture - products: vanilla, ylang-ylang (perfume essence), coffee, copra
Industries: newly created lobster and shrimp industry, construction
Industrial production growth rate: NA%
Electricity - production: NA kWh
Electricity - consumption: NA kWh
Exports: $3.44 million f.o.b. (1997)
Exports - commodities: ylang-ylang (perfume essence), vanilla, copra, coconuts, coffee, cinnamon
Exports - partners: France 80%, Comoros 15%, Reunion (2004)
Imports: $141.3 million f.o.b. (1997)
Imports - commodities: food, machinery and equipment, transportation equipment, metals, chemicals
Imports - partners: France 66%, Africa 14%, Southeast Asia 11% (2004)
Debt - external: $NA
Economic aid - recipient: $107.7 million; note - extensive French financial assistance (1995)
Currency: 1 euro (currency sign: €; banking code: EUR) = 100 cent
Exchange rates: euros per US dollar - 0.8041 (2005), 0.8054 (2004), 0.886 (2003), 1.0626 (2002), 1.1175 (2001)
Fiscal year:
calendar year
Famous quotes containing the word economy:
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)