Finance of Guam

The minimum monthly wage in Guam is 1320 USD. Guam has a government debt of 51% of the country's Gross Domestic Product (GDP), as assessed in 2012. With regard to consumer prices, the inflation rate in Guam is 4%. The currency of Guam is United States dollar. The United States dollar is one of the most significant currencies in the world, and is used in several territories besides The United States including Puerto Rico, Guam, and The US Virgin Islands. The United States dollar is a stable currency that can be relied upon for investment opportunities. The plural form of the word United States dollar is dollars. The symbol used for this currency is $, and it is abbreviated as USD. The United States dollar is divided into cent; there are 100 in one dollar. The corporate tax in Guam is set at 35%. VAT in Guam is 0%, and it is known as Sales Tax.

Gross Domestic Product

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Guam is $5 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Guam was last recorded at $27,758. PPP in Guam is considered to be good when compared to other countries. Good PPP indicates that citizens in this country rarely find it difficult to purchase local goods. Local goods can include food, shleter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with good PPP are relatively safe locations for investments. The total Gross Domestic Product (GDP) in Guam is 3 billion. Based on this statistic, Guam is considered to have a small economy. Countries with small economies generally support less industries and opportunities for investment. However, worthwhile investment opportunities may be found. The Gross Domestic Product (GDP) per capita in Guam was last recorded at $16,733. The average citizen in Guam has high wealth. Countries with high wealth per capita employ a highly skilled workforce with competitive wages. Labor in countries with high wealth is expensive when compared with countries with lower GDP per capita. However, it is easy to find highly skilled employees in Guam. GDP Annual Growth Rate in Guam averaged 1.3% in 2014. According to this percentage, Guam is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly.