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Economy - overview:
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The economy depends largely on US military spending and tourism. Total US grants, wage payments, and procurement outlays amounted to $1.3 billion in 2004. Over the past 30 years, the tourist industry has grown to become the largest income source following national defense. The Guam economy continues to experience expansion in both its tourism and military sectors.
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GDP (purchasing power parity):
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$2.5 billion (2005 est.)
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GDP (official exchange rate):
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$2.773 billion (2001)
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GDP - real growth rate:
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NA%
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GDP - per capita (PPP):
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$15,000 (2005 est.)
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GDP - composition by sector:
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agriculture: NA%
industry: NA%
services: NA%
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Labor force:
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62,050 (2002 est.)
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Labor force - by occupation:
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agriculture: 26%
industry: 10%
services: 64% (2004 est.)
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Unemployment rate:
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11.4% (2002 est.)
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Household income or consumption by percentage share:
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lowest 10%: NA%
highest 10%: NA%
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Budget:
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revenues: $319.6 million
expenditures: $427.8 million (2002 est.)
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Inflation rate (consumer prices):
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2.5% (2005 est.)
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Agriculture - products:
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fruits, copra, vegetables; eggs, pork, poultry, beef
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Industries:
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US military, tourism, construction, transshipment services, concrete products, printing and publishing, food processing, textiles
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Industrial production growth rate:
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NA%
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Electricity - production:
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1.789 billion kWh (2006 est.)
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Electricity - consumption:
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1.664 billion kWh (2006 est.)
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Electricity - exports:
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0 kWh (2007 est.)
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Electricity - imports:
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0 kWh (2007 est.)
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Oil - production:
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0 bbl/day (2007 est.)
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Oil - consumption:
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12,780 bbl/day (2007 est.)
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Oil - exports:
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0 bbl/day (2005)
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Oil - imports:
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13,530 bbl/day (2005)
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Oil - proved reserves:
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0 bbl (1 January 2006 est.)
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Natural gas - production:
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0 cu m (2007 est.)
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Natural gas - consumption:
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0 cu m (2007 est.)
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Natural gas - exports:
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0 cu m (2007 est.)
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Natural gas - imports:
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0 cu m (2007 est.)
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Natural gas - proved reserves:
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0 cu m (1 January 2006 est.)
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Exports:
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$45 million f.o.b. (2004 est.)
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Exports - commodities:
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transshipments of refined petroleum products, construction materials, fish, food and beverage products
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Exports - partners:
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Japan 67.2%, Singapore 11.6%, UK 4.8% (2006)
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Imports:
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$701 million f.o.b. (2004 est.)
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Imports - commodities:
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petroleum and petroleum products, food, manufactured goods
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Imports - partners:
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Singapore 50%, South Korea 21.4%, Japan 14%, Hong Kong 4.6% (2006)
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Debt - external:
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$NA
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Currency (code):
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US dollar (USD)
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Exchange rates:
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the US dollar is used
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