Grenada ranked 184/197 by economy size with a GDP of $1.39B and 80/197 by GDP per capita at $11,872. Grenada has $1.02B in government debt, with a debt-to-GDP ratio of 71.4%.
In 2025, Grenada made up 0.001% of the world's economy, compared to 0.001% in 1977.
The chart below shows GDP in nominal terms, GDP adjusted for inflation (in constant dollars), and a bar chart of year-over-year inflation-adjusted growth.
| Year | GDP | GDP growth | |
|---|---|---|---|
| Current $ | Constant $ | ||
| 1977 | $71,494,495 | $294,935,712 | - |
| 1978 | $88,322,386 | $310,689,415 | 23.5% |
| 1979 | $102,244,362 | $328,094,495 | 15.8% |
| 1980 | $110,900,457 | $326,339,899 | 8.47% |
| 1981 | $115,651,919 | $331,346,564 | 4.28% |
| 1982 | $125,435,590 | $345,012,163 | 8.46% |
| 1983 | $131,803,552 | $357,544,989 | 5.08% |
| 1984 | $145,533,311 | $370,303,858 | 10.4% |
| 1985 | $167,728,455 | $392,446,948 | 15.3% |
| 1986 | $187,589,523 | $420,680,655 | 11.8% |
| 1987 | $215,009,570 | $458,951,763 | 14.6% |
| 1988 | $236,357,524 | $472,567,906 | 9.93% |
| 1989 | $267,327,642 | $490,372,992 | 13.1% |
| 1990 | $278,098,763 | $510,049,757 | 4.03% |
| 1991 | $300,757,889 | $517,116,730 | 8.15% |
| 1992 | $310,160,444 | $512,715,298 | 3.13% |
| 1993 | $309,812,185 | $502,672,150 | -0.11% |
| 1994 | $325,111,815 | $511,185,185 | 4.94% |
| 1995 | $342,172,519 | $522,070,746 | 5.25% |
| 1996 | $366,911,444 | $545,241,472 | 7.23% |
| 1997 | $392,190,593 | $572,588,028 | 6.89% |
| 1998 | $445,903,593 | $639,887,179 | 13.7% |
| 1999 | $482,009,370 | $684,028,916 | 8.1% |
| 2000 | $520,044,370 | $717,463,922 | 7.89% |
| 2001 | $520,444,185 | $702,943,169 | 0.08% |
| 2002 | $540,336,926 | $727,105,600 | 3.82% |
| 2003 | $591,018,407 | $795,918,681 | 9.38% |
| 2004 | $599,118,593 | $790,765,503 | 1.37% |
| 2005 | $695,555,556 | $895,749,021 | 16.1% |
| 2006 | $698,700,667 | $859,960,907 | 0.45% |
| 2007 | $758,683,593 | $912,620,191 | 8.58% |
| 2008 | $825,976,037 | $921,267,657 | 8.87% |
| 2009 | $771,275,556 | $860,341,635 | -6.62% |
| 2010 | $771,014,815 | $855,944,031 | -0.03% |
| 2011 | $778,655,556 | $862,490,065 | 0.99% |
| 2012 | $799,881,481 | $852,529,700 | 2.73% |
| 2013 | $842,618,519 | $872,573,509 | 5.34% |
| 2014 | $911,496,296 | $936,638,938 | 8.17% |
| 2015 | $997,007,407 | $997,007,407 | 9.38% |
| 2016 | $1,061,640,741 | $1,034,291,536 | 6.48% |
| 2017 | $1,125,685,185 | $1,080,200,383 | 6.03% |
| 2018 | $1,166,514,815 | $1,127,312,678 | 3.63% |
| 2019 | $1,213,485,185 | $1,134,939,081 | 4.03% |
| 2020 | $1,043,411,111 | $978,809,799 | -14% |
| 2021 | $1,122,800,000 | $1,024,691,294 | 7.61% |
| 2022 | $1,231,732,104 | $1,099,706,286 | 9.7% |
| 2023 | $1,323,985,600 | $1,151,169,921 | 7.49% |
| 2024 | $1,391,435,993 | $1,193,683,309 | 5.09% |
Economic Statistics of Grenada
Grenada
|
Rank | |
|---|---|---|
| Gross domestic product |
$1.39B
2024 |
184/197 |
| GDP growth |
5.09%
2023-2024 |
110/196 |
| GDP per capita |
$11,872
2024 |
80/197 |
| GDP per capita, PPP |
$20,167
2024 |
95/197 |
| Government debt |
$1.02B
2024 |
170/185 |
| Debt-to-GDP ratio |
71.4%
2025 |
53/185 |
| Government debt per person |
$8,688
2024 |
62/185 |
| Average annual personal income after taxes |
$11,039
2025 |
69/197 |
| Income share by richest 10% |
33.7%
2018 |
24/169 |
| Income share by poorest 10% |
2.1%
2018 |
130/169 |
| Government expenditure, % of GDP |
39.6%
2025 |
52/195 |
| Consumer prices inflation |
1.09%
2023-2024 |
169/195 |
| Unemployment rate |
6.34%
2023 |
76/196 |
| Population |
117349
|
182/197 |
Grenada's GDP per capita
Grenada has a GDP per capita of $11,872, ranking 80/197, a GDP per capita based on purchasing power parity (PPP) of $20,167, ranking 95/197, and a median annual after tax income of $11,039, ranking 69/197.
| Year | Current $ | |
|---|---|---|
| GDP per capita | GDP per capita, PPP | |
| 1977 | $737 | - |
| 1978 | $917 | - |
| 1979 | $1,071 | - |
| 1980 | $1,173 | - |
| 1981 | $1,230 | - |
| 1982 | $1,329 | - |
| 1983 | $1,388 | - |
| 1984 | $1,524 | - |
| 1985 | $1,745 | - |
| 1986 | $1,938 | - |
| 1987 | $2,205 | - |
| 1988 | $2,404 | - |
| 1989 | $2,697 | - |
| 1990 | $2,782 | $4,553 |
| 1991 | $2,984 | $4,733 |
| 1992 | $3,053 | $4,761 |
| 1993 | $3,026 | $4,742 |
| 1994 | $3,152 | $4,889 |
| 1995 | $3,294 | $5,062 |
| 1996 | $3,508 | $5,347 |
| 1997 | $3,725 | $5,673 |
| 1998 | $4,206 | $6,368 |
| 1999 | $4,516 | $6,857 |
| 2000 | $4,840 | $7,306 |
| 2001 | $4,820 | $7,283 |
| 2002 | $4,984 | $7,621 |
| 2003 | $5,428 | $8,469 |
| 2004 | $5,480 | $8,606 |
| 2005 | $6,339 | $10,016 |
| 2006 | $6,344 | $9,877 |
| 2007 | $6,865 | $10,728 |
| 2008 | $7,448 | $11,001 |
| 2009 | $6,933 | $10,303 |
| 2010 | $6,910 | $10,344 |
| 2011 | $6,947 | $10,592 |
| 2012 | $7,093 | $10,575 |
| 2013 | $7,425 | $11,199 |
| 2014 | $7,986 | $12,229 |
| 2015 | $8,694 | $13,214 |
| 2016 | $9,221 | $13,978 |
| 2017 | $9,751 | $15,041 |
| 2018 | $10,083 | $15,975 |
| 2019 | $10,463 | $16,446 |
| 2020 | $8,969 | $14,361 |
| 2021 | $9,622 | $15,298 |
| 2022 | $10,535 | $17,555 |
| 2023 | $11,308 | $19,010 |
| 2024 | $11,872 | $20,167 |
Grenada's government spending, deficit, and chart
This chart shows Grenada's government spending, budget balance, and debt over time, each expressed as a share of GDP.
Over the past 36 years, Grenada recorded a fiscal deficit in 27 years — average annual deficit equal to -2.27% of GDP. In 2024, government spending reached $518M (39.6% of GDP), with a deficit of -8.85%.
The national debt reached $1.02B, ranking 170th out of 185 countries by total size, with a debt-to-GDP ratio of 71.4%, ranking 53rd.
| Year | % of GDP | ||
|---|---|---|---|
| Government spending | Government debt | Government deficit/surplus | |
| 1990 | 29% | 46.2% | -7.78% |
| 1991 | 26.8% | 42% | -4.34% |
| 1992 | 21.8% | 40.1% | -1.46% |
| 1993 | 23.1% | 45.3% | -0.16% |
| 1994 | 24.7% | 45.7% | -2.85% |
| 1995 | 23.2% | 43.1% | -0.46% |
| 1996 | 26.3% | 43.9% | -3.02% |
| 1997 | 26.6% | 41.4% | -4.94% |
| 1998 | 25.3% | 40.3% | -2.39% |
| 1999 | 23.7% | 34.5% | -1.7% |
| 2000 | 25.6% | 41.6% | -2.07% |
| 2001 | 29.6% | 44.6% | -6.05% |
| 2002 | 35.7% | 79.1% | -13.9% |
| 2003 | 28.7% | 79.6% | -2.81% |
| 2004 | 24.7% | 94.7% | -0.57% |
| 2005 | 26.6% | 87.3% | 0.9% |
| 2006 | 32.4% | 92.9% | -5.23% |
| 2007 | 27.7% | 89.1% | -5.91% |
| 2008 | 27.9% | 83.9% | -3.72% |
| 2009 | 27.2% | 91.1% | -4.4% |
| 2010 | 28% | 96.2% | -4.07% |
| 2011 | 28.3% | 102.8% | -4.86% |
| 2012 | 26.2% | 101.5% | -5.44% |
| 2013 | 28.1% | 105.4% | -7.25% |
| 2014 | 28.7% | 99.3% | -4.2% |
| 2015 | 25.3% | 90.1% | -0.8% |
| 2016 | 23.5% | 81.6% | 2.69% |
| 2017 | 22.6% | 70.4% | 3.01% |
| 2018 | 22.4% | 68.5% | 4.59% |
| 2019 | 21.6% | 62.7% | 4.97% |
| 2020 | 32.7% | 89.5% | -4.54% |
| 2021 | 31.2% | 86.6% | 0.31% |
| 2022 | 31.8% | 78.8% | 0.95% |
| 2023 | 28.9% | 75.2% | 8.01% |
| 2024 | 37.2% | 73.2% | 6.68% |
| 2025 | 39.6% | 71.4% | -8.85% |
Inflation rate by year
Over the past 20 years, Grenada has had an average annual inflation rate of 1.87%. In 2024, inflation was 1.09%. The bar chart below shows consumer price inflation by year.
| Year | Inflation |
|---|---|
| 1977 | 18.5% |
| 1978 | 18.1% |
| 1979 | 20.9% |
| 1980 | 21.8% |
| 1981 | 18.8% |
| 1982 | 7.81% |
| 1983 | 6.1% |
| 1984 | 5.66% |
| 1985 | 2.5% |
| 1986 | 0.56% |
| 1987 | -0.87% |
| 1988 | 4% |
| 1989 | 5.59% |
| 1990 | 2.72% |
| 1991 | 2.64% |
| 1992 | 3.78% |
| 1993 | 2.81% |
| 1994 | 3.77% |
| 1995 | 1.87% |
| 1996 | 2.03% |
| 1997 | 1.24% |
| 1998 | 1.38% |
| 1999 | 0.58% |
| 2000 | 2.18% |
| 2001 | 3.14% |
| 2002 | 1.07% |
| 2003 | 2.15% |
| 2004 | 2.31% |
| 2005 | 3.48% |
| 2006 | 4.25% |
| 2007 | 3.86% |
| 2008 | 8.03% |
| 2009 | -0.31% |
| 2010 | 3.44% |
| 2011 | 3.03% |
| 2012 | 2.41% |
| 2013 | -0.04% |
| 2014 | -0.98% |
| 2015 | -0.52% |
| 2016 | 1.65% |
| 2017 | 0.91% |
| 2018 | 0.8% |
| 2019 | 0.6% |
| 2020 | -0.74% |
| 2021 | 1.22% |
| 2022 | 2.58% |
| 2023 | 2.7% |
| 2024 | 1.09% |
Balance of trade
|
Grenada
|
Rank | |
|---|---|---|
Current account balance
|
-$271M
2024 |
96/189 |
| Current account balance, % of GDP |
-19.5%
2024 |
178/189 |
| Goods imports |
$562M
2024 |
170/188 |
| Goods exports |
$70.4M
2024 |
176/188 |
| Service imports |
$429M
2024 |
161/188 |
| Service exports |
$789M
2024 |
137/188 |
| Exports of goods and services, % of GDP |
16%
2025 |
162/193 |
Grenada's top 10 trading partners
Grenada's biggest trading partner accounting for 37.6%% of all exports and imports is the United States, with a trade balance between the two of -$239M — Grenada exports $3.54M worth of goods and services to the United States and imports $242M.
Below is the list of the top 10 trade partners of Grenada.
| Rank | Country | Trade value | Share of total trade | Export to | Import from | Top export to | Top import from |
|---|---|---|---|---|---|---|---|
| 1 |
United States
|
$246M | 37.6% | $3.54M | $242M | Machinery & equipment | Machinery & equipment |
| 2 |
Trinidad
|
$98.8M | 15.1% | $3.19M | $95.7M | Machinery & equipment | Raw materials & minerals |
| 3 |
Cayman Islands
|
$74.4M | 11.4% | $4K | $74.4M | Animal & marine products | Raw materials & minerals |
| 4 |
United Kingdom
|
$28.7M | 4.39% | $2.32M | $26.4M | Machinery & equipment | Machinery & equipment |
| 5 |
China
|
$27.2M | 4.17% | $955K | $26.3M | Machinery & equipment | Machinery & equipment |
| 6 |
Japan
|
$22.9M | 3.51% | $29K | $22.9M | Machinery & equipment | Machinery & equipment |
| 7 |
Barbados
|
$14.7M | 2.25% | $1.43M | $13.2M | Machinery & equipment | Chemicals & pharma |
| 8 |
Jamaica
|
$10.5M | 1.61% | $160K | $10.4M | Machinery & equipment | Processed food, beverages & tobacco |
| 9 |
Netherlands
|
$10.4M | 1.59% | $109K | $10.3M | Machinery & equipment | Animal & marine products |
| 10 |
Panama
|
$9.11M | 1.39% | $20K | $9.09M | Machinery & equipment | Machinery & equipment |
Grenada's top 10 exports
|
Grenada
|
Rank | |
|---|---|---|
| Transport & tourism services | $626M | 130/188 |
| Business & finance services | $24.4M | 153/188 |
| Processed food, beverages & tobacco | $11.7M | 159/192 |
| Raw agricultural goods | $11.2M | 155/193 |
| Machinery & equipment | $10.2M | 164/193 |
| IT & IP services | $5.9M | 162/183 |
| Government & miscellaneous services | $5M | 151/180 |
| Chemicals & pharma | $4.56M | 159/193 |
| Animal & marine products | $2.03M | 170/192 |
| Wood & paper products | $1.4M | 167/192 |
Grenada's top 10 imports
|
Grenada
|
Rank | |
|---|---|---|
| Business & finance services | $159M | 147/188 |
| Machinery & equipment | $156M | 176/193 |
| Raw materials & minerals | $131M | 169/193 |
| Transport & tourism services | $107M | 175/188 |
| Processed food, beverages & tobacco | $86.6M | 173/193 |
| Chemicals & pharma | $57.6M | 175/193 |
| Textiles & consumer goods | $55.3M | 173/193 |
| Animal & marine products | $40.8M | 162/193 |
| Metals | $40.7M | 175/193 |
| Wood & paper products | $33.3M | 163/193 |
Economic freedom indices
|
Grenada
|
Rank | |
|---|---|---|
| Economic freedom | 63 | 81/197 |
More economic indicators
|
Grenada
|
Rank | |
|---|---|---|
| Services, % of GDP |
65.2%
2024 |
46/191 |
| Industry, % of GDP |
14.8%
2024 |
161/194 |
| Agriculture, forestry, and fishing, % of GDP |
2.75%
2024 |
132/193 |
|
GNI, Atlas method
|
$1.24B
2024 |
183/194 |
| GNI per capita, PPP |
$18,240
2024 |
95/191 |
| Total reserves including gold |
$423M
2024 |
161/177 |
|
Net foreign direct investment
|
-$223M
2024 |
83/188 |
|
Net inflows of foreign direct investment
|
$226M
2024 |
136/193 |
|
Net outflows of foreign direct investment
|
$2.72M
2024 |
136/187 |
|
Servicing debt to the IMF, % of GNI
|
4.67%
2023 |
49/119 |
| Poverty at national poverty lines |
38%
2020 |
42/176 |
Compare countries by 7 more topics
GDP per capita map
GDP per capita
Relevant pages:
Grenada topic pages:
Economy comparisons
The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.
Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.
A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).
Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.
Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.
Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.