Economy of French Polynesia
French Polynesia is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developed nation, French Polynesia is able to provide its citizens with social services like public education, healthcare, and law enforcement. Citizens of developed nations enjoy a high standard of living and longer life expectancies than citizens of developing nations. Each year, French Polynesia exports around $0.2 billion and imports roughly $2.2 billion. 20.8% of population in the country are unemployed. The total number of unemployed people in French Polynesia is 59,459. In French Polynesia, 19.7% of the population lives below the poverty line. The percentage of citizens living below the poverty line in French Polynesia is fairly high, but is not reason for complete concern with regard to investments. Potential financial backers should look at other economic markers, including GDP, urbanization rate, and strength of currency, before making any decisions regarding investments. The Gini Index of the country is 39.67. French Polynesia is experiencing good equality. The majority of citizens in French Polynesia fall within a narrow range of income, although some cases may show significant differences.
The currency of French Polynesia is cfp franc. The plural form of the word cfp franc is CFP francs. The symbol used for this currency is Fr, and it is abbreviated as XPF. The cfp franc is divided into Centime; there are 100 in one cfp franc.
Credit rating is the extent to which international investors trust a country in paying debts and upholding the country's obligations in terms of crediting. There is no information on the credit rating of French Polynesia.
In French Polynesia, the institution that manages the state's currency, money supply, and interest rates is called Overseas Issuing Institute. Locally, the central bank of French Polynesia is called Institut d'émission d'Outre-Mer.
French Polynesia has a government debt of 17% of the country's Gross Domestic Product (GDP), as assessed in 2013.
The corporate tax in French Polynesia is set at 40%. VAT in French Polynesia is 16%.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in French Polynesia is $7.15 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in French Polynesia was last recorded at $0 million. PPP in French Polynesia is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in French Polynesia is 6,578 billion. Based on this statistic, French Polynesia is considered to have a medium economy. Countries with medium economies support an average number of industries and opportunities for investment. It should not be too difficult to find worthwhile investment opportunities in medium economies. The Gross Domestic Product (GDP) per capita in French Polynesia was last recorded at $23 million. The average citizen in French Polynesia has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in French Polynesia averaged -4.2% in 2014. According to this percentage, French Polynesia is currently experiencing significant decline. Countries that are experiencing significant decline could be experiencing dramatic decreases in personal consumption, employment rate, and personal income. A significant decline in GDP should warn investors that this location poses a high level of risk and should not be considered a safe location for investment. To read more about financial information click on finances of French Polynesia.
Major industries in the country are tourism, pearls, agricultural processing, handicrafts, phosphates. The total labor force of French Polynesia is 118,980 people, wherein 20.8% of population in the country are unemployed. The total number of unemployed people in French Polynesia is 59,459. To read more about industrial information within French Polynesia click on industry of French Polynesia.
There are 27 km2 of arable land in French Polynesia, and it comprises 1% of the country's total territory. There are 228 km2 of cultivated land in French Polynesia. The country's major agricultural crops and products are fish, coconuts, vanilla, vegetables, fruits, coffee, poultry, beef, dairy products.To read more about agriculture click on agriculture of French Polynesia.