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TIME: Almanac 1990
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1990 Time Magazine Compact Almanac, The (1991)(Time).iso
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guam.4
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1991-04-08
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Economy
Overview: The economy is based on US military spending and
on revenues from tourism. Over the past 20 years the tourist
industry has grown rapidly, creating a construction boom
for new hotels and the expansion of older ones. Visitors
numbered about 800,000 in 1989. The small manufacturing
sector includes textile and clothing, beverage, food, and
watch production. About 58% of the labor force works for
the private sector and the rest for government. Most food
and industrial goods are imported, with about 75% from the
US. In 1989 the unemployment rate was about 3%, down from
10% in 1983.
GNP: $1.0 billion, per capita $7,675; real growth rate 20%
(1988 est.).
Inflation rate (consumer prices): 5.9% (1988).
Unemployment rate: 3% (1989 est.).
Budget: revenues $208.0 million; expenditures $175 million,
including capital expenditures of $17 million (1987 est.).
Exports: $39 million (f.o.b., 1983); commodities--mostly
transshipments of refined petroleum products, copra, fish;
partners--US 25%, others 75%.
Imports: $611 million (c.i.f., 1983); commodities--mostly
crude petroleum and petroleum products, food, manufactured
goods; partners--US 77%, others 23%.
External debt: $NA.
Industrial production: growth rate NA%.
Electricity: 500,000 kW capacity; 2,300 million kWh produced,
16,660 kWh per capita (1989).
Industries: US military, tourism, petroleum refining, construction,
concrete products, printing and publishing, food processing,
textiles.
Agriculture: relatively undeveloped with most food imported;
fruits, vegetables, eggs, pork, poultry, beef, copra.
Aid: NA.
Currency: US currency is used.
Exchange rates: US currency is used.
Fiscal year: 1 October-30 September.