ABSTRACT
I S L A S C A N A R I A S The ISLAS CANARIAS are situated in the Atlantic Oceon, to the south-west of Morocco and one hundred miles from the African coast. There are seven inhabited islands and six islets, divided into two provinces. Las Palmas has its capital in Las Palmas on GRAN CANARIA island and TENERIFE at Santa Cruz on TENERIFE island. The islands consitute an AUTONOMÍA and have a population of 1.4 million people. Tourism, shipping, fishing and agriculture are the basis of the islands' economies with tourism accounting for nearly 70% of the islands' GDP. Approximately 70% of the population is engaged in the service sector. Agriculture is also important, especially the production of bananas, tomatoes and potatoes. As with other areas in Spain, the growing shortage of water is one of the major problems facing the island. The ISLAS CANARIAS do not participate in the Common Agricultural Policy of the European Union nor in the Common Customs Regime. The islands have free port status and are a low tax area.
