Guam - Economy
How is the economy of Guam? Based on the information we have, Guam has a small Pacific island US territorial economy; upper income, tourism-based economy; hard-hit by COVID-19 disruptions; relaunched many industries via vaccination tourism; domestic economy relies on multiple military bases; environmentally fragile economy. Key agricultural products in this country include: fruits, copra, vegetables; eggs, pork, poultry, beef.
More about the economy of Guam
| Labor force | 80,000 (2023 est.) |
|---|---|
| Industrial production growth rate | 4.3% (2014 est.) |
| Industries | national defense, tourism, construction, transshipment services, concrete products, printing and publishing, food processing, textiles |
| Population below poverty line | |
| Taxes and other revenues | 21.4% (of GDP) (2016 est.) |
| Fiscal year | |
| Exchange rates | |
| Debt - external | |
| Public debt | |
| Public debt 2016 | 22.1% of GDP (2016 est.) |
| Budget | |
| Revenues | $1.24 billion (2016 est.) |
| Expenditures | $1.299 billion (2016 est.) |
| Budget surplus (+) or deficit (-) | |
| Average household expenditures | |
| On food | 34.6% of household expenditures (2021 est.) |
| On alcohol and tobacco | 1.3% of household expenditures (2021 est.) |
| Imports | |
| Imports 2021 | $3.667 billion (2021 est.) |
| Imports 2020 | $3.383 billion (2020 est.) |
| Imports 2019 | $3.552 billion (2019 est.) |
| Imports (partners) | South Korea 37%, Singapore 35%, Japan 12%, Taiwan 3%, Hong Kong 3% (2022) |
| Comodities Imports force | refined petroleum, cars, raw iron bars, electric generating sets, trunks and cases (2022) |
| Exports | |
| Imports 2021 | $3.667 billion (2021 est.) |
| Imports 2020 | $3.383 billion (2020 est.) |
| Imports 2019 | $3.552 billion (2019 est.) |
| Exports (partners) | Singapore 30%, Taiwan 20%, South Korea 14%, Philippines 12%, Hong Kong 8% (2022) |
| Comodities Exports force | refined petroleum, scrap iron, scrap copper, trunks and cases, aircraft parts (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2016 | $5.793 billion (2016 est.) |
| Real GDP (purchasing power parity) 2015 | $5.697 billion (2015 est.) |
| Real GDP (purchasing power parity) 2014 | $5.531 billion (2014 est.) |
| GDP (official exchange rate) | $6.91 billion (2022 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2016 | $35,600 (2016 est.) |
| Real GDP per capita 2015 | $35,200 (2015 est.) |
| Real GDP per capita 2014 | $34,400 (2014 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | NA |
| Industry | NA |
| Services | 58.4% (2015 est.) |
| GDP - composition, by end use | |
| Household consumption | 56.2% (2016 est.) |
| Government consumption | 55% (2016 est.) |
| Investment in fixed capital | 20.6% (2016 est.) |
| Investment in inventories | (2016 est.) NA |
| Exports of goods and services | 19.4% (2016 est.) |
| Imports of goods and services | -51.2% (2016 est.) |
| Unemployment rate | |
| Unemployment rate 2023 | 5.42% (2023 est.) |
| Unemployment rate 2022 | 5.53% (2022 est.) |
| Unemployment rate 2021 | 6% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 12.9% (2023 est.) |
| Male | 12.6% (2023 est.) |
| Female | 13.2% (2023 est.) |
All Important Facts about Guam
Want to know more about Guam? Check all different factbooks for Guam below.
