!!!Guam: Economy US national defense spending is the main driver of Guam’s economy, followed by tourism and other services. Total federal spending (defense and non-defense) amounted to $1.973 billion in 2014, or 40.4% of GDP. Service exports, mainly spending by foreign tourists while on Guam, amounted to $651 million in 2013, or 13.3% of GDP. In 2013, Guam’s economy grew 0.6%. Despite slow growth, Guam’s economy has been stable over the last decade. National defense spending cushions the island’s economy against fluctuations in tourism. Guam serves as a forward US base for the Western Pacific and is home to thousands of American military personnel. Federal grants amounted to $373.3 million in 2013, or 32.6% of Guam’s total revenues for the fiscal year. !!Economic Facts ||GDP (purchasing power parity)|$4.882 billion (2013 est.) \\ $4.756 billion (2012 est.) \\ $4.562 billion (2011 est.) ||GDP (official exchange rate)|$4.6 billion (2010 est.) ||GDP - real growth rate|0.6% (2013 est.) \\ 1.8% (2012) \\ -0.3% (2011) ||GDP - per capita (PPP)|$30,500 (2013 est.) \\ $29,800 (2012 est.) \\ $28,600 (2011 est.) ||GDP - composition, by end use|''household consumption'': 63.7% \\ ''government consumption'': 64.9% \\ ''investment in fixed assets'': 5.8% \\ ''investment in inventories'': NA \\ ''exports of goods and services'': 17% \\ ''imports of goods and services'': -51.2% (2013) \\ ||GDP - composition, by sector of origin|''agriculture'': NA% \\ ''industry'': NA% \\ ''services'': NA% \\ ||Agriculture - products|fruits, copra, vegetables; eggs, pork, poultry, beef ||Industries|national defense, tourism, construction, transshipment services, concrete products, printing and publishing, food processing, textiles ||Industrial production growth rate|NA% ||Labor force|70,490 \\ ''__note__'': this number is for the civilian labor force only (2013 est.) \\ ||Labor force - by occupation|''agriculture'': 0.3% \\ ''industry'': 21.6% \\ ''services'': 78.1% (2013) \\ ||Unemployment rate|8.4% (2013 est.) \\ 8.2% (2010 est.) ||Population below poverty line|23% (2001 est.) ||Household income or consumption by percentage share|''lowest 10%'': NA% \\ ''highest 10%'': NA% \\ ||Budget|''revenues'': $1.147 billion \\ ''expenditures'': $1.188 billion (2013 est.) \\ ||Taxes and other revenues|24.9% of GDP (2013 est.) ||Budget surplus (+) or deficit (-)|-0.9% of GDP (2013 est.) ||Public debt|32.1% of GDP (2013) \\ 35.8% of GDP (2012) ||Fiscal year|1 October - 30 September ||Inflation rate (consumer prices)|1.8% (2014 est.) \\ 4% (2011 est.) ||Exports|$828 million (2013 est.) \\ $795 million (2012) ||Exports - commodities|transshipments of refined petroleum products, construction materials, fish, foodstuffs and beverages ||Imports|$2.501 billion (2013 est.) \\ $2.438 billion (2012) ||Imports - commodities|petroleum and petroleum products, food, manufactured goods ||Debt - external|$NA ||Exchange rates|the US dollar is used