Grenada/Economy

Economy of Grenada

An overview of key economic indicators. Select a category for detailed trends, charts, and insights.

Explore Economic Domains

Growth & Output

Coming Soon
GDP (USD)
$1.3B(2023)
GDP PPP (USD)
$2.2B(2023)
GDP per Capita (USD)
$11,246(2023)
GDP Growth (inflation-adjusted)
3.6%(2023)
Inflation (CPI Annual %)
1.1%(2024)

Trade & Finance

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FDI Inflows (as share of GDP)
16.7%(2023)
Remittance Inflow (USD)
$70.3M(2023)

Labor & Income

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Poverty Rate
25%(2018)
GINI Index
43.8(2018)
GNI per Capita (USD)
$10,470(2023)

Energy & Environment

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Energy Use per Capita
733 kg oil eq.(2007)
Renewable Energy Consumption (%)
10%(2022)

Economic Snapshot Overview

A summary of key economic indicators for Grenada

  • The economic architecture of Grenada is substantial, anchored by a Gross Domestic Product (GDP) of approximately $1.32B
    2023
    . This places it as the 178th largest economy out of 191 countries measured, underscoring its significance on the world stage. On a per capita basis, GDP stands at $11.25K
    2023
    , while its GDP in Purchasing Power Parity (PPP) terms is estimated at $2.2B, reflecting the population's domestic purchasing power. The economy demonstrates solid growth, expanding at a rate of 3.6%
    2023
    , accompanied by stable price levels, with inflation (CPI) at 1.1%
    2024
    .
  • On the global stage, the nation's trade and financial dynamics reveal a complex interplay of factors. Foreign Direct Investment (FDI) inflows are significant, constituting 16.71% of the economy
    2023
    . This performance positions the country 6th globally out of 186 nations, indicating its relative attractiveness to foreign capital. Additionally, personal remittances received amount to a substantial $70.25M annually
    2023
    , highlighting the economic importance of its diaspora.
  • The socio-economic landscape is characterized by a Gross National Income (GNI) per capita of $10,470
    2023
    . Globally, this ranks the nation 75th out of 190 in terms of GNI per capita, providing a clear measure of its national wealth relative to others. Poverty remains a key issue, with 25.0% of the population living below the national poverty line
    2018
    . There is a moderate level of income inequality, with a Gini index of 43.8
    2018
    .
  • On the environment and energy front, energy consumption per capita is 732.886 kg of oil equivalent
    2007
    . The energy mix is still heavily reliant on traditional sources, with renewables contributing 10.0%
    2022
    . Its commitment to clean energy places it 50th among 190 countries for its share of renewable energy consumption.

Key Economic Insights

Macroeconomic Health

Maintaining a balance between growth, inflation, and employment is the central challenge for economic policymakers.

Trade & Investment Profile

The degree of openness to trade and foreign investment is a major determinant of economic structure and resilience.

Social Equity & Distribution

Distributing the benefits of economic growth equitably is crucial for social cohesion and long-term stability.

Energy & Sustainability

Transitioning to a sustainable energy model is critical for mitigating climate risk and ensuring long-term energy security.

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.