The economic architecture of Grenada is substantial, anchored by a Gross Domestic Product (GDP) of approximately $1.32B
2023
. This places it as the 179th largest economy out of 192 countries measured, underscoring its significance on the world stage. On a per capita basis, GDP stands at $11.25K
2023
, while its GDP adjusted for Purchasing Power Parity (PPP) is estimated at $2.2B, offering a clearer picture of the population's domestic purchasing power. The economy demonstrates solid, consistent growth, expanding at a healthy rate of 3.6%
2023
, accompanied by a stable price environment, with inflation (CPI) contained at 1.1%.
2024
On the global stage, Grenada's trade and financial dynamics reveal a complex interplay of international and domestic factors. The investment climate attracts significant Foreign Direct Investment (FDI), with inflows constituting 16.71% of the economy
2023
. This performance positions the country 6th globally out of 187 nations, confirming its status as a competitive destination for foreign capital. Furthermore, personal remittances from its diaspora are a vital component of the economy, amounting to a substantial $70.25M annually
2023
.
The socio-economic landscape is characterized by a Gross National Income (GNI) per capita of $10,470
2023
, ranking the nation 76th out of 191. This figure provides a comprehensive measure of the average income per person, reflecting the nation's overall economic well-being. Despite its economic standing, poverty remains a salient issue, with 25.0% of the population living below the national poverty line
2018
. The nation exhibits a moderate degree of income inequality, with a Gini index of 43.8.
2018
In the environmental and energy sectors, the nation's policies and outcomes reflect its developmental priorities. Energy consumption per capita stands at 732.886 kg of oil equivalent
2007
, a metric that often correlates with industrial activity and living standards. The energy portfolio remains heavily dependent on conventional sources, with renewables contributing a modest 10.0%
2022
. This commitment places it 50th among 191 countries, highlighting its relative progress in decarbonization. Total greenhouse gas emissions were last recorded at 200.4 tonnes of CO2 equivalent
2023
, a key factor in its national climate strategy and international obligations.

Key Economic Insights

Macroeconomic Health

Balancing growth, inflation, and employment remains the core challenge for economic stewardship.

Trade & Investment Profile

The orientation towards global trade and foreign investment is a defining feature of the economic landscape.

Social Equity & Distribution

Ensuring equitable distribution of economic gains is fundamental for long-term social and political stability.

Energy & Sustainability

The transition to a sustainable energy framework is paramount for mitigating climate risk and securing future energy needs.

More About This Country

Neighbors & Regional Peers

Note: The information on this page has been compiled from authoritative sources. While every effort is made to ensure accuracy, please note that some figures may not be current or entirely precise.