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Economy of Grenada and business opportunities

Economy of Grenada

Grenada has a largely tourism-based, small, open economy. Over the past two decades, the economy has shifted from one of agriculture-dominant into that of services-dominant, with tourism serving as the leading foreign currency earning sector. The country's principal export crops are the spices nutmeg and mace (Grenada is the world's second largest producer of nutmeg after Indonesia). Other crops for export include cocoa, citrus fruits, bananas, cloves, and cinnamon. Manufacturing industries in Grenada operate mostly on a small scale, including production of beverages and other foodstuffs, textiles, and the assembly of electronic components for export.

Economic growth picked up in the late 1990s following slow growth and domestic fiscal adjustment in early years of the decade. Despite an expansionary fiscal policy, the public debt remained moderate at around 50 percent of GDP as deficits were financed partly by privatization receipts. Since 2001, economic growth declined caused by adverse shocks such as a slowdown in the global economy and natural disasters. To deal with the shocks, fiscal policy became more expansionary while privatization receipts declined. As a result, public debt increased sharply to near 110 percent of GDP in 2003. Economic conditions worsened when Hurricane Ivan hit the country in September 2004; progress in fiscal consolidation was impeded as government revenues fell and policy priority was shifted to post-hurricane relief.

Although reconstruction has proceeded quickly with significant aid from the international community, tourism and agricultural activities remain weak and nearly offset the stimulus from the reconstruction boom. The country is still facing the difficult task of reconstruction and recovery, while public debt is unsustainable and the government faces large financing gaps. In the years ahead, reinvigorating growth will be a high priority, and continued efforts are needed to address vulnerabilities.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Economy Of Grenada"

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This section contains economy and business opportunities and from Grenada.
Grenada Economy Guatemalan Economy, business opportunities in Grenada.
Summary:
Consulting Services to Develop Regional Cybersecurity Policy Guidelines and Framework for the Organization of Eastern Caribbean States (OECS)
Country:
Grenada
 
Notice Type:
Tender Notice
Deadline:
24 May 2024
Posting Date:
04 May 2024
 
 
 
Summary:
Supply of Design, Implementation and Support Services for Civil Registry and Unique ID Implementation
Country:
Grenada
 
Notice Type:
Tender Notice
Deadline:
19 Jun 2024
Posting Date:
04 May 2024
 
 
 
Summary:
Consultant to develop Cybersecurity Communication Plan
Country:
Grenada
 
Notice Type:
Tender Notice
Deadline:
17 May 2024
Posting Date:
04 May 2024
 
 
 
Summary:
Consultancy to provide Mentorship training
Country:
Grenada
 
Notice Type:
Tender Notice
Deadline:
19 Jun 2024
Posting Date:
04 May 2024
 
 
 
Summary:
Development and delivery of managerial training
Country:
Grenada
 
Notice Type:
Tender Notice
Deadline:
17 May 2024
Posting Date:
04 May 2024
 
 
 
Summary:
Gd-Digital Government For Resilience -- P167588
Country:
Grenada
 
Notice Type:
Procurement Plan
Deadline:
03 Jan 2025
Posting Date:
05 Jan 2024
 
 
 
Summary:
Gd-Digital Government For Resilience -- P167588
Country:
Grenada
 
Notice Type:
Procurement Plan
Deadline:
11 Oct 2024
Posting Date:
13 Oct 2023
 
 
 
Summary:
Gd-Grenada - Caribbean Regional Air Transport Connectivity -- P172951
Country:
Grenada
 
Notice Type:
Procurement Plan
Deadline:
10 Oct 2024
Posting Date:
12 Oct 2023
 
 
 
Summary:
Gd-Digital Government For Resilience -- P167588
Country:
Grenada
 
Notice Type:
Procurement Plan
Deadline:
21 Sep 2024
Posting Date:
25 Sep 2023
 
 
 
Summary:
Gd-Grenada - Caribbean Regional Air Transport Connectivity -- P172951
Country:
Grenada
 
Notice Type:
Procurement Plan
Deadline:
08 Aug 2024
Posting Date:
10 Aug 2023
 
 
 

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