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Economy:

The economy of Grenada is based primarily on services, namely tourism and education. The country also enjoys a good size agriculture sector, with primary exports being nutmeg and cocoa.

In September 2004, the country's economy halted when Hurricane Ivan struck land. The hurricane left 10,000 people homeless and a huge reconstruction effort. As a result, there has been a growth in the construction sector, which benefited many urban Grenadians. Agricultural workers, on the other hand, have been severely hurt by the hurricane.

Grenada is a member of the Eastern Caribbean Currency Union (ECCU), thereby adopting a common currency with other ECCU members. The country is also a member of the Caribbean Community and Common Market (CARICOM), facilitating a common external tariff through inter-regional trade.

 

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Updated: 5 June 2008


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