Grenada's GDP changed from approximately $111M in 1980 to $1B 406M in 2024, showing an overall 1166.7% sharply increased during the period.
The lowest GDP was recorded in 1980 at $111M, and the highest in 2024 at $1B 406M.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 5.9%.
For comparison, the average annual growth rate of Saint Lucia was 6.4%, and that of Saint Vincent and the Grenadines was 5.9%.
Overview of Grenada's GDP (1980–2024)
The Gross Domestic Product (GDP) of Grenada recorded a 1166.7% sharply increased from 1980 to 2024.
The average GDP during this period was $612M 822K, and the median was $540M.
GDP fluctuated within a range of $1B 295M, with a standard deviation of $378M 210K.
The average annual change was $28M 314K.
Grenada GDP from 1980 to 2024
The total market value of goods and services produced annually in Grenada.
Highest and Lowest GDP Records
- Lowest GDP: 1980, $111M
- Highest GDP: 2024, $1B 406M
- Most Recent GDP: 2024, $1B 406M
Notable Annual GDP Changes
- 2022: Significant increase in GDP
- 2020: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and Grenada's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $1B 213M → $1B 42M
- Outcome: sharply declined
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $759M → $771M
- Outcome: increased
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $520M → $520M
- Outcome: remained stable
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $392M → $446M
- Outcome: sharply increased
Key Economic Indicators of Grenada (1980–2024)
| year | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
1980 | $ 111M | $ 1,245.62 | $ 2,158 | $ 192M | 15.067 % | 0 % | 0 % | 0 % | 89,000 people |
1981 | $ 116M | $ 1,276.37 | $ 2,352.95 | $ 213M | 1.375 % | 0 % | 0 % | 0 % | 91,000 people |
1982 | $ 125M | $ 1,346.87 | $ 2,530.52 | $ 236M | 4.107 % | 0 % | 0 % | 0 % | 93,000 people |
1983 | $ 132M | $ 1,372.67 | $ 2,634.57 | $ 253M | 3.295 % | 0 % | 0 % | 0 % | 96,000 people |
1984 | $ 146M | $ 1,477.92 | $ 2,767.16 | $ 272M | 3.963 % | 0 % | 0 % | 0 % | 98,000 people |
1985 | $ 168M | $ 1,678.09 | $ 2,980.76 | $ 298M | 5.988 % | 0 % | 0 % | 0 % | 100,000 people |
1986 | $ 188M | $ 1,872.46 | $ 3,257.02 | $ 326M | 7.358 % | 0 % | 0 % | 0 % | 100,000 people |
1987 | $ 215M | $ 2,162.55 | $ 3,668.33 | $ 365M | 9.073 % | 0 % | 0 % | 0 % | 99,000 people |
1988 | $ 236M | $ 2,408.73 | $ 3,960.20 | $ 389M | 2.916 % | 0 % | 0 % | 0 % | 98,000 people |
1989 | $ 267M | $ 2,757.87 | $ 4,322.77 | $ 419M | 3.758 % | 0 % | 0 % | 0 % | 97,000 people |
1990 | $ 278M | $ 2,887.01 | $ 4,704.04 | $ 453M | 4.241 % | 0 % | 0 % | -5.061 % | 96,000 people |
1991 | $ 301M | $ 3,117.90 | $ 4,925.50 | $ 475M | 1.423 % | 0 % | 0 % | -1.885 % | 96,000 people |
1992 | $ 310M | $ 3,192.22 | $ 4,960.86 | $ 482M | -0.813 % | 0 % | 0 % | 0.609 % | 97,000 people |
1993 | $ 310M | $ 3,153.81 | $ 4,924.72 | $ 484M | -1.956 % | 0 % | 0 % | 1.923 % | 98,000 people |
1994 | $ 325M | $ 3,272.55 | $ 5,065.04 | $ 503M | 1.838 % | 0 % | 0 % | -0.936 % | 99,000 people |
1995 | $ 342M | $ 3,411.98 | $ 5,235.19 | $ 525M | 2.196 % | 0 % | 0 % | 1.115 % | 100,000 people |
1996 | $ 367M | $ 3,632.68 | $ 5,525.35 | $ 558M | 4.386 % | 0 % | 0 % | -1.277 % | 101,000 people |
1997 | $ 392M | $ 3,861.38 | $ 5,864.18 | $ 596M | 4.916 % | 0 % | 0 % | -3.11 % | 102,000 people |
1998 | $ 446M | $ 4,370.62 | $ 6,600.70 | $ 673M | 11.808 % | 0 % | 0 % | -1.173 % | 102,000 people |
1999 | $ 482M | $ 4,705.81 | $ 7,133.04 | $ 731M | 6.981 % | 0 % | 0 % | 0.064 % | 102,000 people |