Part 689

Diplomatic representation in the US: none (overseas department of France)

Diplomatic representation from the US: none (overseas department of France)

Flag description: the flag of France is used

Economy

Economy - overview: The economy has traditionally been based on agriculture. Sugarcane has been the primary crop for more than a century, and in some years it accounts for 85% of exports. The government has been pushing the development of a tourist industry to relieve high unemployment, which recently amounted to one-third of the labor force. The gap in Reunion between the well-off and the poor is extraordinary and accounts for the persistent social tensions. The white and Indian communities are substantially better off than other segments of the population, often approaching European standards, whereas indigenous groups suffer the poverty and unemployment typical of the poorer nations of the African continent. The outbreak of severe rioting in February 1991 illustrates the seriousness of socioeconomic tensions. The economic well-being of Reunion depends heavily on continued financial assistance from France.

GDP: purchasing power parity - $2.9 billion (1995 est.)

GDP - real growth rate: 2.7% (1995 est.)

GDP - per capita: purchasing power parity - $4,300 (1995 est.)

GDP - composition by sector: agriculture: NA% industry : NA% services: NA%

Inflation rate - consumer price index: NA%

Labor force: total: 242,169 (1993) by occupation: agriculture 30%, industry 21%, services 49% (1981)

Unemployment rate: 35% (1994)

Budget: revenues: $NA expenditures: $NA

Industries: sugar, rum, cigarettes, handicraft items

Industrial production growth rate: NA%

Electricity - capacity: NA kW

Electricity - production: 1.09 billion kWh (1994)

Electricity - consumption per capita: 1,670 kWh (1994)

Agriculture - products: sugarcane, vanilla, tobacco, tropical fruits, vegetables, corn

Exports: total value: $171.776 million (f.o.b., 1994) commodities: sugar 63%, rum and molasses 4%, perfume essences 2%, lobster 3%, (1993) partners: France, Mauritius, Bahrain, South Africa, Italy, Madagascar

Imports: total value: $2.354 billion (c.i.f., 1994) commodities : manufactured goods, food, beverages, tobacco, machinery and transportation equipment, raw materials, and petroleum products partners: France, Mauritius, Bahrain, South Africa, Italy, Madagascar

Debt - external: $NA

Economic aid: recipient: substantial annual subsidies from France

Currency: 1 French franc (F) = 100 centimes

Exchange rates: French francs (F) per US$1 - 5.4169 (January 1997), 5.1155 (1996), 4.9915 (1995), 5.5520 (1994), 5.6632 (1993), 5.2938 (1992)

Fiscal year: calendar year

@Reunion:Communications

Telephones: 191,647 (1993 est.)