y
of the Governor)
Member of:
ESCAP (associate), IOC, SPC
Diplomatic representation in US:
none (territory of the US)
US diplomatic representation:
none (territory of the US)
Flag:
territorial flag is dark blue with a narrow red border on all four
sides; centered is a red-bordered, pointed, vertical ellipse
containing a beach scene, outrigger canoe with sail, and a palm tree
with the word GUAM superimposed in bold red letters; US flag is the
national flag

@Guam, Economy

Overview:
The economy depends mainly on US military spending and on revenues
from tourism. Over the past 20 years the tourist industry has grown
rapidly, creating a construction boom for new hotels and the expansion
of older ones. Visitors numbered about 900,000 in 1992. The slowdown
in Japanese economic growth has been reflected in less vigorous growth
in the tourism sector. About 60% of the labor force works for the
private sector and the rest for government. Most food and industrial
goods are imported, with about 75% from the US. In early 1994, Guam
faces the problem of building up the civilian economic sector to
offset the impact of military downsizing.
National product:
GNP - purchasing power equivalent - $2 billion (1991 est.)
National product real growth rate:
NA%
National product per capita:
$14,000 (1991 est.)
Inflation rate (consumer prices):
4% (1992 est.)
Unemployment rate:
2% (1992 est.)
Budget:
revenues:
$525 million
expenditures:
$395 million, including capital expenditures of $NA (1991)
Exports:
$34 million (f.o.b., 1984)
commodities:
mostly transshipments of refined petroleum products, construction
materials, fish, food and beverage products
partners:
US 25%, Trust Territory of the Pacific Islands 63%, other 12%
Imports:
$493 million (c.i.f., 1984)
commodities:
petroleum and petroleum products, food, manufactured goods
partners:
US 23%, Japan 19%, other 58%
External debt:
$NA
Industrial production:
growth rate NA%
Electricity:
capacity:
500,000 kW
production:
2.3 billion kWh
consumption per capita:
16,300 kWh (1990)
Industries:
US military, tourism, construction, transshipment services, concrete
products, printing and publishing, food processing, textiles
Agriculture:
relatively undeveloped with most food imported; fruits, vegetables,
eggs, pork, poultry, beef, copra
Economic aid:
although Guam receives no foreign