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ANNEX I - COUNTRY PROFILE GRENADA IS A TRI-ISLAND STATE COMPRISED OF THE ISLANDS OF Grenada, Carriacou and Petite Martinique, covering 133 square miles (344 square km), and located at Latitude 12 7’ North Longitude 61 40’ West in the eastern Caribbean. Known as “The Spice Isle,” Grenada is an independent nation, governed under a Westminster-style democracy. The population numbers 105,552 and has a per capita GNI (2008) of 15,417 EC$ (US $5,710). The country’s economy is relatively diversified but leaning toward the services sector. In 2008, the predominant area of activity was the government services sector, with commerce (wholesale, retail, banking and insurance), construction, communications and tourism also of significant importance. In September of 2004, Grenada was devastated by Hurricane Ivan which killed 39 people and is estimated to have destroyed 90% of the country’s 28,000 houses. Most of the crops and trees, including the nutmeg trees, were almost completely destroyed. The nut- meg industry is slowly being rebuilt; however it takes over 10 years for a nutmeg tree to reach full productivity. Current nutmeg production is estimated to be approximately one tenth of pre-2004 levels. Prior to Ivan, nutmeg was Grenada’s largest single exported agricultural commodity. As was the case both across the globe and within the Caribbean region, record high food and energy prices during 2008 combined with the subsequent global economic downturn, adversely affected Grenada’s socio-economic performance, and caused a significant decline in tourism and other sectors. Tourism is the island’s largest revenue earner. 18 ANNEX IPDF Image | THE NATIONAL ENERGY POLICY OF GRENADA
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