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FOREIGN TRADE
Grenada has experienced both trade deficit as well as balance of payment deficit over the years.
The major exportable commodities of the country are cocoa, banana, mace, citrus, fruits and vegetables. Its exports partners are United Kingdom, United States and Netherlands.
Important importable commodities are manufactured goods, machinery, chemicals, fuels and food. Its partners are United States, United Kingdom and Japan.
Levels of merchandise exports and imports of the country are as follows:
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Over all trade situation in the country are as follows:
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2000 |
2003 |
2004 |
| Merchandise trade (% of GDP) |
69.9 |
66.5 |
77.7 |
| Foreign direct investment, net inflows (BoP, current US$) |
37.0 million |
84.6 million |
42.4 million |
| Long-term debt (DOD, current US$) |
179.8 million |
300.1 million |
347.1 million |
| Present value of debt (% of GNI) |
.. |
.. |
105.9 |
CONCLUSION
Grenada is presently a member of Eastern Caribbean Currency Union (ECCU). It has also accepted the membership of Caribbean Community (CARICOM).
The World Bank with its Country Assistance Strategy has stepped forward for attaining higher economic growth and reducing poverty.
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