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GuamEconomy—overview: The economy depends mainly on US military spending and on revenue generated by the tourism industry. Over the past 20 years the tourist industry has grown rapidly creating a construction boom for new hotels and the expansion of older ones. More than one million tourists visit Guam each year. Most food and industrial goods are imported with about 75% from the US. Guam faces the problem of building up the civilian economic sector to offset the impact of military downsizing. GDP: purchasing power parity—$3 billion (1996 est.) GDP—real growth rate: NA% GDP—per capita: purchasing power parity—$19 000 (1996 est.) GDP—composition by sector: agriculture: NA% industry: NA% services: NA% Inflation rate—consumer price index: 4% (1992 est.) Labor force: total: 65 660 (1995) by occupation: federal and territorial government 31% private 69% (trade 21% services 33% construction 12% other 3%) (1995) Unemployment rate: 2% (1992 est.) Budget: revenues: $524.3 million expenditures: $361.4 million including capital expenditures of $NA (1995) Industries: US military tourism construction transshipment services concrete products printing and publishing food processing textiles Industrial production growth rate: NA% Electricity—capacity: 302 000 kW (1995) Electricity—production: 755 million kWh (1995) Electricity—consumption per capita: 4 925 kWh (1995) Agriculture—products: fruits copra vegetables; eggs pork poultry beef Exports: total value: $86.1 million (f.o.b. 1992) commodities: mostly transshipments of refined petroleum products construction materials fish food and beverage products partners: US 25% former Trust Territory of the Pacific Islands 63% other 12% Imports: total value: $202.4 million (c.i.f. 1992) commodities: petroleum and petroleum products food manufactured goods partners: US 23% Japan 19% other 58% Debt—external: $NA Economic aid: recipient: although Guam receives no foreign aid it does receive large transfer payments from the general revenues of the US Federal Treasury into which Guamanians pay no income or excise taxes; under the provisions of a special law of Congress the Guamanian Treasury rather than the US Treasury receives federal income taxes paid by military and civilian Federal employees stationed in Guam Currency: 1 United States dollar (US$) = 100 cents Exchange rates: US currency is used Fiscal year: 1 October—30 September
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