Grenada’s primary natural resources are its fertile arable lands, forests, and marine resources. The agriculture sector is the main user of these resources and is a major contributor to the country’s economic and social development. Activities in the agriculture sector also have significant impact on the sustainability of the resources it uses.
Hurricanes Ivan (2004) and Emily (2005) severely damaged the agricultural sector in Grenada. Banana, one of Grenada’s major export crops since the 1960s, was totally devastated and the island has had to import banana from Suriname to meet local needs. Grenada is the world’s second largest producer of nutmeg which accounts for more than 50 per cent of the country’s agricultural export earnings.
Agriculture which employs 11% of the island’s labour force has been recovering slowly and contributed 5.6% to the island’s GDP in 2014.
With regard to the economy, it is slowly recovering from a protracted recession following the 2008-12 global financial crises. The Eastern Caribbean Central Bank (ECCB) projected modest positive economic growth in the short to medium term averaging 2.6% between 2013 and 2015.
Agricultural findings for Grenada include:
The sector is highly vulnerable to climate change, and increased incidence of natural disasters and other extreme weather events.