Economic Activities in Grenada: Primary, Secondary, Tertiary, and Quaternary

Grenada, with a population of 117,207 (World Bank, 2024), is ranked among the world’s smallest nations by population. Located in the Caribbean, it covers 340 square kilometers, ranking 178th globally, just below Barbados.

As of 2024, Grenada’s economy has a GDP of approximately $1.39 billion, one of the smaller economies in the world. Grenada’s GDP per capita stands at roughly $11,872 (2024), reflecting steady growth of around 4% in recent years.

Despite its relatively small size, Grenada’s economy continues to show potential for growth and development, driven by tourism and agricultural exports.

Grenada Economic Structure & Sector Analysis

• Primary activities: 6.8% of GDP.
• Secondary activities: 15.5% of GDP.
• Tertiary activities: 77.7% of GDP.

Primary Sector of Grenada

With 23.53% of the land dedicated to farming, the country produces a variety of crops and animal products. The main agricultural products include coconuts, sugarcane, eggs, bananas, vegetables, fruits, plantains, root vegetables, grapefruits, and avocados.

Despite contributing 6.8% to the GDP, agriculture plays a vital role in the economy, providing employment and ensuring food security. The diverse range of products highlights the sector’s importance in sustaining Grenada’s agricultural industry.

Grenada’s diverse geology contributes to its rich natural resources. The primary sector thrives on timber and tropical fruits, driving the economy through exports and supporting livelihoods.

Secondary Sector of Grenada

In Grenada, main industrial products include food and beverages, textiles, light assembly operations, construction, education, and call-center operations. These industries play a vital role in the country’s economy by producing goods for domestic and export markets. Manufactures only account for 36.56% of Grenada’s total exports in 2023, indicating their relatively minor role in driving the country’s export economy.

Tertiary sector of Grenada

Key activities include healthcare and medical care, education and training, banking and finance, communication and information exchange, tourism and hospitality, and transportation and logistics. These services contribute significantly to the country’s economy by providing intangible goods like expertise and advice to both consumers and businesses. Specifically, Grenada’s tourism industry is a vital contributor to its economy, with around 526,000 annual visitor arrivals, representing roughly 4.5 times its population. Top attractions like the picturesque Grand Anse Beach and the vibrant capital St. George’s draw visitors, boosting revenue and employment. Sustainable tourism development is crucial for Grenada’s continued growth. Another example of tertiary economic activity is the mobile cellular sector, with around 101,000 subscriptions, supporting technological growth. This connectivity fosters innovation, enhances business operations, and promotes digital services.

International Trade of Grenada

Import Activities of Grenada

The import activities of Grenada are of high importance, with imports totaling $608,759,031.29, accounting for 50.09% of the country’s GDP in 2023. Grenada’s key import partners include the US (37%), Trinidad and Tobago (11%), and Cayman Islands (11%). They mainly import refined petroleum, poultry, plastic products, wheat, and cars from these countries. Additionally, China (5%) and the UK (3%) are also significant import partners for Grenada.

Exports Activities of Grenada

Grenada’s total exports in 2023 amounted to $46,055,094.055, representing 3.79% of its GDP. With a low export-to-GDP ratio, export activities play a relatively minor role in the country’s economy. Grenada’s export activities focus on nutmeg/cardamom, frozen fruits, fish, and more. Its key partners include the US (33%), Antigua and Barbuda (10%), India (4%), Saint Vincent and the Grenadines (4%), and France (3%).

Grenada economy challenges in 2024

In 2024, Grenada faces challenges with high public debt, vulnerability to hurricanes, and a shrinking economy. Despite its focus on tourism and spice exports, the country struggles to sustain growth amidst global uncertainties. Efforts to promote the blue economy offer hope for a more sustainable future.

Sources

• World Bank: Grenada
• IMF: Grenada
• CIA World Factbook: Grenada
• World Bank WITS: Grenada Trade 2023

Last updated: August 2026