Economy of Réunion: Difference between revisions
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The '''economy of Réunion''' has traditionally been based on [[agriculture]]. [[Sugarcane]] has been the primary crop for more than a century, and in some years it accounts for 85% of exports. The government has been{{when?|date=December 2021}} pushing the development of a [[tourism|tourist industry]] to relieve high [[unemployment]], which amounts{{when?|date=December 2021}} to more than 40% of the labour force. |
The '''economy of Réunion''' has traditionally been based on [[agriculture]]. [[Sugarcane]] has been the primary crop for more than a century, and in some years it accounts for 85% of exports. The government has been{{when?|date=December 2021}} pushing the development of a [[tourism|tourist industry]] to relieve high [[unemployment]], which amounts{{when?|date=December 2021}} to more than 40% of the labour force. |
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The gap in [[Réunion]] between the well-off and the poor is large and accounts for |
The gap in [[Réunion]] between the well-off and the poor is large and accounts for persistent social tensions.<ref name="BBC News 2011 v867">{{cite web | title=Reunion profile | website=BBC News | date=July 11, 2011 | url=https://www.bbc.com/news/world-africa-14114856 | access-date=April 16, 2024}}</ref> The outbreak of severe rioting in February 1991 illustrated the seriousness of socio-economic tensions.<ref name="The Observers - France 24 2012 d381">{{cite news| title=Three nights of riots in Reunion Island: Why "the Cauldron" is boiling over | website=The Observers - France 24 | date=February 24, 2012 | url=https://observers.france24.com/en/20120224-three-nights-riots-reunion-island-cauldron-boiling-over-saint-denis-high-cost-of-living-gas-prices-protest | access-date=April 16, 2024}}</ref> |
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In 2007 the [[GDP per capita]] of Réunion at nominal exchange rates, not at [[Purchasing power parity|PPP]], was €17,146 (US$23,501).<ref name="GDP">{{cite web |author=INSEE Réunion |author-link=INSEE |title=8.1 - ÉCONOMIE GÉNÉRALES |url=http://www.insee.fr/fr/insee_regions/reunion/themes/dossiers/ter/ter2008_resultats_economiques.pdf |archive-url=https://web.archive.org/web/20081217225700/http://www.insee.fr/fr/insee_regions/reunion/themes/dossiers/ter/ter2008_resultats_economiques.pdf |archive-date=Dec 17, 2008 |access-date=2008-12-10 |language=French}}</ref> However, while this is exceptionally high compared with its neighbours in [[Madagascar]] and the African continent, it is only 57% of the 30,140 euros per capita GDP of [[metropolitan France]] in 2007.Reunion Island is one of the French departments with the highest poverty rate with 42% of the population living below the poverty line. <ref>{{cite web|url=http://www.insee.fr/fr/ppp/bases-de-donnees/donnees-detaillees/cnat-region/pib_reg.xls|title=Produits Intérieurs Bruts Régionaux en euros par habitant|author=Institut National de la Statistique et des Études Économiques|format=XLS|access-date=2008-12-10|language=fr}}</ref> The total GDP of the island was US$18.8 billion in 2007.<ref name=GDP /> |
In 2007 the [[GDP per capita]] of Réunion at nominal exchange rates, not at [[Purchasing power parity|PPP]], was €17,146 (US$23,501).<ref name="GDP">{{cite web |author=INSEE Réunion |author-link=INSEE |title=8.1 - ÉCONOMIE GÉNÉRALES |url=http://www.insee.fr/fr/insee_regions/reunion/themes/dossiers/ter/ter2008_resultats_economiques.pdf |archive-url=https://web.archive.org/web/20081217225700/http://www.insee.fr/fr/insee_regions/reunion/themes/dossiers/ter/ter2008_resultats_economiques.pdf |archive-date=Dec 17, 2008 |access-date=2008-12-10 |language=French}}</ref> However, while this is exceptionally high compared with its neighbours in [[Madagascar]] and the African continent, it is only 57% of the 30,140 euros per capita GDP of [[metropolitan France]] in 2007.Reunion Island is one of the French departments with the highest poverty rate with 42% of the population living below the poverty line. <ref>{{cite web|url=http://www.insee.fr/fr/ppp/bases-de-donnees/donnees-detaillees/cnat-region/pib_reg.xls|title=Produits Intérieurs Bruts Régionaux en euros par habitant|author=Institut National de la Statistique et des Études Économiques|format=XLS|access-date=2008-12-10|language=fr}}</ref> The total GDP of the island was US$18.8 billion in 2007.<ref name=GDP /> |
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Latest revision as of 14:02, 16 April 2024
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The economy of Réunion has traditionally been based on agriculture. Sugarcane has been the primary crop for more than a century, and in some years it accounts for 85% of exports. The government has been[when?] pushing the development of a tourist industry to relieve high unemployment, which amounts[when?] to more than 40% of the labour force.
The gap in Réunion between the well-off and the poor is large and accounts for persistent social tensions.[1] The outbreak of severe rioting in February 1991 illustrated the seriousness of socio-economic tensions.[2]
In 2007 the GDP per capita of Réunion at nominal exchange rates, not at PPP, was €17,146 (US$23,501).[3] However, while this is exceptionally high compared with its neighbours in Madagascar and the African continent, it is only 57% of the 30,140 euros per capita GDP of metropolitan France in 2007.Reunion Island is one of the French departments with the highest poverty rate with 42% of the population living below the poverty line. [4] The total GDP of the island was US$18.8 billion in 2007.[3]
Other export products[edit]
- Essential oil (mainly vetyver and rose scent geranium)
- Bourbon vanilla
- Fish & seafood, mainly tuna, swordfish and Patagonian toothfish
Statistics[edit]
- Currency: 1 euro (sign: €; code: EUR) = 100 Cent
- Exchange rates: See: Euro exchange rate
- Fiscal year: calendar year
See also[edit]
- Economy of France in: French Guiana, French Polynesia, Guadeloupe, Martinique, Mayotte, New Caledonia, Réunion, Saint Barthélemy, Saint Martin, Saint Pierre and Miquelon, Wallis and Futuna
- Taxation in France
- Economic history of France
- Poverty in France
References[edit]
- ^ "Reunion profile". BBC News. July 11, 2011. Retrieved April 16, 2024.
- ^ "Three nights of riots in Reunion Island: Why "the Cauldron" is boiling over". The Observers - France 24. February 24, 2012. Retrieved April 16, 2024.
- ^ a b INSEE Réunion. "8.1 - ÉCONOMIE GÉNÉRALES" (PDF) (in French). Archived from the original (PDF) on Dec 17, 2008. Retrieved 2008-12-10.
- ^ Institut National de la Statistique et des Études Économiques. "Produits Intérieurs Bruts Régionaux en euros par habitant" (XLS) (in French). Retrieved 2008-12-10.
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