French Polynesia, with a population of 306,279, is ranked 167th in the world, just behind Vanuatu. Located in the South Pacific Ocean, it covers a total area of 3,471 square kilometers, ranking 159th globally, below Cabo Verde.
French Polynesia’s economic position in 2022 is relatively stable, with a GDP of $5,814,661,208.90, ranking it at 153 globally. It falls behind the Maldives, which has a GDP of $6,170,638,746.97. In terms of GDP per capita, French Polynesia has an average of $18,984.85, placing it at 54 globally, behind Trinidad and Tobago with a GDP per capita of $19,629.47.
French Polynesia’s economy shows potential for growth and development in the coming years.
What are the economic activities of French Polynesia?
- Primary activities: 2.5% of GDP.
- Secondary activities: 13% of GDP.
- Tertiary activities: 84.5% of GDP.
Primary Sector of French Polynesia
The primary sector in French Polynesia, with its tropical climate and diverse natural resources, mainly focuses on agricultural activities. Covering 13.97% of the land, the country’s main agricultural products include coconuts, fruits, root vegetables, pineapples, eggs, cassava, sugarcane, tropical fruits, watermelons, and tomatoes.
Despite contributing 2.5% to the GDP, agriculture plays a vital role in the country’s economy by providing a variety of crops and animal products essential for local consumption and export. The sector’s significance lies in the diversity of products it offers, showcasing the rich agricultural potential of French Polynesia.
The geological diversity of French Polynesia, from lush forests to abundant marine life, provides a rich array of natural resources. Timber, fish, cobalt, and hydropower are key assets driving the economy, supporting industries like forestry, fishing, mining, and energy production.
Secondary Sector of French Polynesia
What is the secondary sector or what are secondary activities?
The secondary sector involves industries that transform raw materials from primary activities into finished products for consumption. In French Polynesia, the main industrial products include agricultural processing, handicrafts, and phosphates. These products are manufactured for domestic consumption and export, contributing to the country’s economic growth and development.
Manufactures play a crucial role in French Polynesia’s total exports, accounting for 68.27% in 2023. This highlights the significance of the manufacturing sector in driving the country’s economic growth and trade activities.
Tertiary sector of French Polynesia
What is the tertiary sector or what are tertiary activities?
The tertiary sector in French Polynesia comprises services where individuals provide expertise and time to enhance productivity and meet needs. Key activities include healthcare, education, banking, tourism, transportation, and telecommunications. These services contribute significantly to the economy by offering intangible goods such as knowledge, advice, and experiences.
Among these, French Polynesia’s economy heavily relies on tourism, contributing significantly to its GDP. With 300,000 annual arrivals, equivalent to 0.9795 times its population, the industry thrives. Popular destinations include the idyllic Bora Bora, renowned for its overwater bungalows, and the volcanic Moorea Island, boasting stunning landscapes and marine life.
Another example of tertiary economic activity is the mobile cellular sector, with approximately 328,000 subscriptions, supporting technological growth. This connectivity enhances communication, fostering innovation and digital services.
International Trade of French Polynesia
Import Activities of French Polynesia
Import activities in French Polynesia are crucial, accounting for 46.13% of GDP with total imports in 2023 reaching 2.3 billion.
French Polynesia imports a variety of goods, including refined petroleum, cars, packaged medicine, beef, and plastic products. Its main import partners are France, China, the US, South Korea, and New Zealand, with France being the largest contributor at 30%.
Exports Activities of French Polynesia
French Polynesia’s total exports in 2023 amounted to 244,186,132.156. With exports accounting for 21.09% of its GDP, it signifies a medium level of importance in driving the country’s economic growth and stability.
French Polynesia primarily exports pearls, fish, aircraft parts, coconut oil, and electrical power accessories. Its main export partners are France, the US, Hong Kong, Japan, and the Netherlands, with each accounting for a significant portion of its export trade.
French Polynesia economy challenges in 2024
French Polynesia faces economic challenges in 2024 due to its small, tourism-based economy heavily reliant on French financing. Despite lower EU import duties and resilience from COVID-19, the country’s oil-dependent infrastructure poses sustainability concerns as a Pacific Islands Forum member.
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