Browse a full set of economic indicators


Includes historical data for Grenada’s Gross Domestic Product growth, debt-to-GDP ratio and more, as well as information on trade, banking and financial sector leadership.

Nutmeg And Spice Exports Drive Economic Growth

Known as Spice Island, this tiny Caribbean nation ranks as the world’s second-largest producer of nutmeg after Indonesia and is a significant exporter of other spices, including cinnamon, ginger and cloves. Its lush natural landscape, characterized by green valleys, rainforests and mountain lakes, coupled with its tropical climate and stunning beaches, makes Grenada a popular tourist destination. Furthermore, Grenada boasts a robust legal framework, low crime rates and historically proactive governments committed to fostering education, improving infrastructure and safeguarding the environment. An appealing destination for potential foreign investors, Grenada offers various tax incentives and streamlined bureaucratic processes.

However, the nation also grapples with several challenges. Among these, the heavy reliance on tourism, which makes it vulnerable to global shocks and economic downturns. High public debt, skill gaps in the workforce and limited access to finance represent additional obstacles.

Macroeconomy & Sovereign Data

Type of Government Parliamentary democracy under a constitutional monarchy; a Commonwealth republic
Capital Saint George’s
Sovereign Ratings S&P: B–
Moody’s: Caa3
Fitch: CC
Total Population 115,000
Median Age 32.0
Adult Per Capita Income (PPP) 19,143.86
Total GDP (2023) 1.4 billion

Grenada GDP & Economic Overview

Most Recent Content

Banking & Finance

Trade & Investment

Total Exports USD 447.5 million (2023)
Leading Exports Nutmeg
Cocoa Beans
Toilet Paper
Total Imports USD 73.9 million (2022)
Leading Imports Refined Petroleum
Food Preparation Materials
Delivery Trucks
Source: World Integrated Trade Solution

Grenada Leading Companies

Grenada National Bank (GNB) Financials
Grenada Electricity Utilities
Grenada Breweries Limited Brewers & Beverage Bottlers

Major Trade Partners — Import

United States 39%
Trindad 17%
Cayman Islands 9%
United Kingdom 4%
China 3%

Major Trade Partners — Export

United States 17%
St. Vincent and Grenadines 5%
Trinidad and Tobago 4%
St. Lucia 2%
Panama 2%

Data Sources:

IMF World Economic Outlook

UN World Population Prospects

World Inequality Report

S&P Global Ratings


Fitch Ratings

IMF Direction of Trade Statistics (DOTS)

UN Conference on Trade and Development (UNCTAD)

CIA The World Factbook

World Bank’s World Integrated Trade Solution

Forbes Global 2000