Saint Pierre and Miquelon

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Territorial Collectivity of Saint Pierre and Miquelon conventional short form: Saint Pierre and Miquelon local long form: Departement de Saint-Pierre et Miquelon local short form: Saint-Pierre et Miquelon

First settled by the French in the early 17th century, the islands represent the sole remaining vestige of France's once vast North American possessions.

The inhabitants have traditionally earned their livelihood by fishing and by servicing fishing fleets operating off the coast of Newfoundland. The economy has been declining, however, because of disputes with Canada over fishing quotas and a steady decline in the number of ships stopping at Saint Pierre. In 1992, an arbitration panel awarded the islands an exclusive economic zone of 12,348 sq km to settle a longstanding territorial dispute with Canada, although it represents only 25% of what France had sought. The islands are heavily subsidized by France to the great betterment of living standards. The government hopes an expansion of tourism will boost economic prospects. Recent test drilling for oil may pave the way for development of the energy sector.

Capital City: Saint-Pierre

Population: 7,026 (July 2006 est.)

GDP Per Capita: $7,000 (2001 est.)

Currency: euro (EUR)

Languages: French (official)

Total Area: total: 242 sq km land: 242 sq km water: 0 sq km note: includes eight small islands in the Saint Pierre and the Miquelon groups 1.5 times the size of Washington, DC

Region: North America

Industries: fish processing and supply base for fishing fleets; tourism

Agriculture: vegetables; poultry, cattle, sheep, pigs; fish

Resources: fish, deepwater ports

Labor Force: 3,261 (1999)
agriculture: 18% industry: 41% services: 41% (1996 est.)

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Saint Pierre and Miquelon