In 2023, Services dominated Grenada's GDP with 51.67%. The Wholesale, Retail Trade, Restaurants, and Hotels sector contributed 14.5%, followed by Transport, Storage, and Communication at 11.46%. Mining, Manufacturing, and Utilities accounted for 8.54%, while the Agricultural sector, including Hunting, Forestry, and Fishing, added 7.25%. Construction represented 6.58%. The trends over the last two years indicate sectoral stability with a slight increase in Services, offset by minor contractions in Agriculture and Construction. A five-year CAGR analysis suggests moderate growth in the services and trade sectors.
Future trends to watch include the impact of digital transformation on service-related sectors and potential investment in sustainable agricultural practices. Additionally, the evolution of the tourism sector may significantly influence the Wholesale, Retail Trade, Restaurants, and Hotels sector in Grenada.
Top countries in GDP Composition by Sector
| # | 6 Countries | Percent | Last Year | |
|---|---|---|---|---|
| 1 | 1 Services | 51.67 | 2016 | |
| 2 | 2 Wholesale, retail trade, restaurants and hotels | 14.5 | 2016 | |
| 3 | 3 Transport, storage and communication | 11.46 | 2016 | |
| 4 | 4 Mining, Manufacturing, Utilities | 8.54 | 2016 | |
| 5 | 5 Agriculture, hunting, forestry, fishing | 7.25 | 2016 | |
| 6 | 6 Construction | 6.58 | 2016 |
