What is the economy of French Guiana?

The economy of French Guiana is tied closely to that of mainland France through subsidies and imports. Besides the French space center at Kourou, fishing and forestry are the most important economic activities in French Guiana.

Why is French Guiana boosting production of a local fruit?

French Guiana is boosting production of a local fruit in a bid to expand employment and showcase a local product. Yana Wassaï was inaugurated in September 2022, after eight years of gestation.

What industries are present in French Guiana?

French Guiana has a significant fishing industry, with a focus on shrimps and an industrial sector. 90% of the country is covered with forest and woodland, suggesting a thriving forestry industry.

Why is French Guiana boosting acai production?

But the local economic fabric has enjoyed a boost—as well as job prospects for young workers —since the creation of the Yana Wassaï factory, which processes plants endemic to Amazonia, including acai, known locally as “wassaï”. French Guiana is boosting production of a local fruit in a bid to expand employment and showcase a local product.

Does French Guiana have a VAT system?

French Guiana, like the other French Overseas Departments, is not considered part of the European Community territory with respect to the harmonized rules on Value Added Tax (VAT); therefore, French Guiana does not apply a local VAT system.

What are the major exports of French Guiana?

Motor vehicles and their parts, gold, electrical machinery and electronics, fish and shrimps, and refined petroleum are the major exports of French Guiana. Machinery, food and agricultural products, and refined petroleum dominate imports.