Saint Pierre and Miquelon (St. Pierre & Miquelon) Economic Statistics and Indicators

19, Feb 2020, EST. Welcome to the Saint Pierre and Miquelon economic statistics pages provided by the beta version of EconomyWatch.com's Econ Stats database.

Economic Indicators For: Saint Pierre and Miquelon (St. Pierre & Miquelon) › Change country
National or Regional Currency: Euro, EUR
Year of data: 2015 › Change year
Number of Indicators Listed:
Full Dataset: From Year 1980 to 2019
Date of Last Update: 17th March 2015
Population: 5,716 (July 2014 est.)
Area: total: 242 sq km ; land: 242 sq km ; water: 0 sq km ; note: includes eight small islands in the Saint Pierre and the Miquelon groups
Natural Resources: fish, deepwater ports
Capital: name: Saint-Pierre ; geographic coordinates: 46 46 N, 56 11 W ; time difference: UTC-3 (2 hours ahead of Washington, DC, during Standard Time) ; daylight saving time: +1hr, begins second Sunday in March; ends first Sunday in November

The inhabitants have traditionally earned their livelihood by fishing and by servicing fishing fleets operating off the coast of Newfoundland. The economy has been declining, however, because of disputes with Canada over fishing quotas and a steady decline in the number of ships stopping at Saint Pierre. In 1992, an arbitration panel awarded the islands an exclusive economic zone of 12,348 sq km to settle a longstanding territorial dispute with Canada, although it represents only 25% of what France had sought. France heavily subsidizes the islands to the great betterment of living standards. The government hopes an expansion of tourism will boost economic prospects. Fish farming, crab fishing, and agriculture are being developed to diversify the local economy. Recent test drilling for oil may pave the way for development of the energy sector.

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