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. france heavily subsidizes the islands to the great betterment of living standards. the government hopes an expansion of tourism will boost economic prospects. fish farming, crab fishing, and agriculture are being developed to diversify the local economy. recent test drilling for oil may pave the way for development of the energy sector.
Recent test drilling for oil in waters around saint pierre and miquelon may bring future development that would impact the environment
7,044 (july 2008 est.)
Northern north america, islands in the north atlantic ocean, south of newfoundland (canada)
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
Conventional long form: 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
Name: saint-pierre geographic coordinates: 46 46 n, 56 11 w time difference: utc-3 (2 hours ahead of washington, dc during standard time) daylight saving time: +1hr, begins second sunday in march; ends first sunday in november