Guam's economy

The currency is dollars. The island's income mainly depends on tourism and the expenses of the US military's air and sea bases on the island. Tourism alone generates about $654.38 million a year. 1995, the number of foreign tourists reached1360,000. Tourists mainly come from Japan. Service industry is the main local industry. 1988 GDP is10 billion USD, and per capita GNP is 7675 USD. 1994, the per capita GNP rose to 1 1800 USD. The main industries are construction, light industry, food processing and oil refining. The main crops are tobacco and fruit. 1994 caught 650 tons. 193: the export value was 86 million dollars, and the import value was 65438+120,000 dollars. The main trade targets are countries in the Asia-Pacific region. In 2005, the GDP was US$ 2.5 billion and the per capita income was US$ 65,438+05,000. Due to the influx of immigrants, the status of the local Chamorro people is threatened, and the voice of restricting immigration is growing. The government of Guam has put forward a plan to build Guam into an "offshore financial center", but whether it can be realized is closely related to whether Guam can obtain the status of a federal territory of the United States.

After World War II, Guam developed into an important military base in the United States, which brought about profound changes in the island's agricultural model. The increase in food imports has affected the cultivation of many vegetables, which used to be very important to the market. Guam relies on imports for most of its food.

All arms of the United States Armed Forces are stationed in military facilities in Guam. Anderson Air Force Base at the northern end of Guam is part of the US Strategic Air Command. Employment opportunities in military facilities have freed many islanders from their previous lifestyle of relying on agriculture and fishing.

Tourism is the most important economic sector after the military. There are several luxury hotels along Tumen Bay. There is a modern international airport near Hagana. Guam is a duty-free port, which attracts small manufacturers from some Asian countries. In the1970s, poultry farms, garment processing plants and oil refineries were established. Most of the imports are petroleum products, machinery, automobiles, means of transport, industrial products and food.