Editing Economy of Grenada (section)

== Overview ==
The economy of Grenada is small, and tourism is its largest [[Foreign exchange market|foreign exchange]] earner.<ref name="CIA World Factbook - Grenada">{{cite web |title=CIA World Factbook – Grenada |url=https://www.cia.gov/the-world-factbook/countries/grenada/ |access-date=12 July 2019}}</ref> Grenada shares a common central bank with [[Organisation of Eastern Caribbean States]] (OECS)<ref>{{Cite web |title=Organisation of Eastern Caribbean States |url=https://oecs.org/en/ |access-date=2019-12-11 |website=oecs.org}}</ref> and holds [[Eastern Caribbean dollar|East Caribbean dollars]] as its currency. After tourism, Grenada relies heavily on agricultural exports, mainly different types of spices.<ref name="britannica.com">{{cite web |title=Grenada {{!}} History, Geography, & Points of Interest |url=https://www.britannica.com/place/Grenada |access-date=2020-06-12 |website=Encyclopedia Britannica |language=en}}</ref> Nutmeg, wheat flour, and various fruits make up the majority of Grenada's exports (per 2017).<ref>{{Cite news |title=Products exported by Grenada (2017) |url=https://oec.world/en/visualize/tree_map/hs92/export/grd/all/show/2017/ |access-date=2019-12-03 |newspaper=Oec - the Observatory of Economic Complexity |language=en}}</ref> Grenada has suffered many economic drawbacks since becoming a nation. A major concern is the rising [[fiscal deficit]] and heavy debt crippling its government operations. [[Hurricane Ivan]] in 2004 led to serious setbacks for Grenada, along with the [[Great Recession in the United States|Great Recession]] in 2008 as the [[United States|United States of America]] is one of Grenada's largest trade partners.<ref>{{Cite web |title=OEC - Grenada (GRD) Exports, Imports, and Trade Partners |url=https://oec.world/en/profile/country/grd/ |access-date=2019-12-03 |website=oec.world |language=en}}</ref> Grenada was listed nine spaces above the bottom when it came to total debt in 126 developing countries in 2017.<ref>{{cite news |last=Elliott |first=Larry |date=18 March 2018 |title=Developing countries at risk from US rate rise, debt charity warns |url=https://www.theguardian.com/business/2018/mar/18/developing-countries-risk-from-us-rate-rise-jubilee-debt-campaign-warns |access-date=19 March 2018}} Jubilee Debt Campaign study</ref>