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Economy

In the last twenty years, Grenada’s economy has shifted from agriculture to the provision of services. Its largest exports include nutmeg, of which Grenada is the world’s second-largest producer, cocoa beans, fish, and wheat flours. Core export destinations include the United States, Switzerland, Germany, the Netherlands, and Canada. Other spices produced for export include mace, cloves, and cinnamon. Exported fruits and vegetables include bananas and citrus fruits.

Grenada’s tourism sector is greatly expanding, with the island continuing to take more and more shares of the market for Caribbean tourism. Much of this expansion is due to foreign direct investment, as foreign businesspersons choose to invest in Grenada’s growing popularity with visitors and leisure travellers. The nation relies heavily on tourism to earn foreign currency.