[ Nominal GDP in billions of USD ]
Year -
$1.37 billions
Grenada GDP expanded from 1977 to 2024, increasing from $0.07 billion to $1.37 billion.The compound annual growth rate (CAGR) averaged 6.53% over the period. The economy recorded its peak level in 2024 and its lowest level in 1977. Growth volatility remained high. The maximum drawdown reached 14.05%, indicating the largest cyclical decline from peak levels. The country experienced 3 recession episode(s) during the observed period.
| Metric | Nominal GDP (Current USD) | GDP (PPP, Int$) |
|---|---|---|
| Latest Year | 2024 | 2024 |
| Latest GDP | $ 1.37 Billions | $ 2.36 Int Billions |
| Growth (YoY) | 2.656% | 6.477% |
| Net Change vs Previous Year | $ 0.04 Billion | $ 0.14 Int Billion |
| % of World GDP | 0.00% | 0.00% |
| Meaning | Nominal GDP (Current USD, exchange-rate based) | GDP (PPP, cost-of-living adjusted) |
| Nominal | PPP | |||||
|---|---|---|---|---|---|---|
| Year | Bil $ | Net Chg | % Chg | Int Bil $ | Net Chg | % Chg |
| 1960 | - | - | - | - | - | - |
| 1961 | - | - | - | - | - | - |
| 1962 | - | - | - | - | - | - |
| 1963 | - | - | - | - | - | - |
| 1964 | - | - | - | - | - | - |
| 1965 | - | - | - | - | - | - |
| 1966 | - | - | - | - | - | - |
| 1967 | - | - | - | - | - | - |
| 1968 | - | - | - | - | - | - |
| 1969 | - | - | - | - | - | - |
| 1970 | - | - | - | - | - | - |
| 1971 | - | - | - | - | - | - |
| 1972 | - | - | - | - | - | - |
| 1973 | - | - | - | - | - | - |
| 1974 | - | - | - | - | - | - |
| 1975 | - | - | - | - | - | - |
| 1976 | - | - | - | - | - | - |
| 1977 | 0.07 | - | - | - | - | - |
| 1978 | 0.09 | 0.02 | 23.537 % | - | - | - |
| 1979 | 0.1 | 0.01 | 15.763 % | - | - | - |
| 1980 | 0.11 | 0.01 | 8.466 % | - | - | - |
| 1981 | 0.12 | 0 | 4.284 % | - | - | - |
| 1982 | 0.13 | 0.01 | 8.46 % | - | - | - |
| 1983 | 0.13 | 0.01 | 5.077 % | - | - | - |
| 1984 | 0.15 | 0.01 | 10.417 % | - | - | - |
| 1985 | 0.17 | 0.02 | 15.251 % | - | - | - |
| 1986 | 0.19 | 0.02 | 11.841 % | - | - | - |
| 1987 | 0.22 | 0.03 | 14.617 % | - | - | - |
| 1988 | 0.24 | 0.02 | 9.929 % | - | - | - |
| 1989 | 0.27 | 0.03 | 13.103 % | - | - | - |
| 1990 | 0.28 | 0.01 | 4.029 % | 0.46 | - | - |
| 1991 | 0.3 | 0.02 | 8.148 % | 0.48 | 0.02 | 4.814 % |
| 1992 | 0.31 | 0.01 | 3.126 % | 0.48 | 0.01 | 1.408 % |
| 1993 | 0.31 | 0 | -0.112 % | 0.49 | 0 | 0.365 % |
| 1994 | 0.33 | 0.02 | 4.938 % | 0.5 | 0.02 | 3.865 % |
| 1995 | 0.34 | 0.02 | 5.248 % | 0.53 | 0.02 | 4.271 % |
| 1996 | 0.37 | 0.02 | 7.23 % | 0.56 | 0.03 | 6.35 % |
| 1997 | 0.39 | 0.03 | 6.89 % | 0.6 | 0.04 | 6.826 % |
| 1998 | 0.45 | 0.05 | 13.696 % | 0.68 | 0.08 | 13.009 % |
| 1999 | 0.48 | 0.04 | 8.097 % | 0.73 | 0.06 | 8.411 % |
| 2000 | 0.52 | 0.04 | 7.891 % | 0.79 | 0.05 | 7.264 % |
| 2001 | 0.52 | 0 | 0.077 % | 0.79 | 0 | 0.182 % |
| 2002 | 0.54 | 0.02 | 3.822 % | 0.83 | 0.04 | 5.045 % |
| 2003 | 0.59 | 0.05 | 9.38 % | 0.92 | 0.1 | 11.625 % |
| 2004 | 0.6 | 0.01 | 1.371 % | 0.94 | 0.02 | 2.024 % |
| 2005 | 0.7 | 0.1 | 16.096 % | 1.1 | 0.16 | 16.828 % |
| 2006 | 0.7 | 0 | 0.452 % | 1.09 | -0.01 | -1.035 % |
| 2007 | 0.76 | 0.06 | 8.585 % | 1.19 | 0.1 | 8.999 % |
| 2008 | 0.83 | 0.07 | 8.87 % | 1.22 | 0.03 | 2.893 % |
| 2009 | 0.77 | -0.05 | -6.623 % | 1.15 | -0.07 | -6.037 % |
| 2010 | 0.77 | 0 | -0.034 % | 1.15 | 0.01 | 0.698 % |
| 2011 | 0.78 | 0.01 | 0.991 % | 1.19 | 0.03 | 2.844 % |
| 2012 | 0.8 | 0.02 | 2.726 % | 1.19 | 0.01 | 0.463 % |
| 2013 | 0.84 | 0.04 | 5.343 % | 1.27 | 0.08 | 6.572 % |
| 2014 | 0.91 | 0.07 | 8.174 % | 1.4 | 0.12 | 9.811 % |
| 2015 | 1 | 0.09 | 9.381 % | 1.52 | 0.12 | 8.576 % |
| 2016 | 1.06 | 0.06 | 6.483 % | 1.61 | 0.09 | 6.193 % |
| 2017 | 1.13 | 0.06 | 6.033 % | 1.74 | 0.13 | 7.9 % |
| 2018 | 1.17 | 0.04 | 3.627 % | 1.85 | 0.11 | 6.438 % |
| 2019 | 1.21 | 0.05 | 4.027 % | 1.91 | 0.06 | 3.208 % |
| 2020 | 1.04 | -0.17 | -14.015 % | 1.67 | -0.24 | -12.407 % |
| 2021 | 1.12 | 0.08 | 7.553 % | 1.78 | 0.11 | 6.787 % |
| 2022 | 1.22 | 0.1 | 9.07 % | 2.05 | 0.27 | 14.961 % |
| 2023 | 1.34 | 0.11 | 9.184 % | 2.22 | 0.17 | 8.288 % |
| 2024 | 1.37 | 0.04 | 2.656 % | 2.36 | 0.14 | 6.477 % |
Between 1977 to 2024, Grenada experienced the following economic phases:
The most remarkable growth occurred in 1978 with an increase of 23.537%, while the largest decline was in 2020 at -14.015%.