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PUBLISHED & PRINTED BY:
Statistics Division Ministry of Finance, and Corporate Governance
Antigua and Barbuda
Telephone: (268) 462-4775 Fax: (268) 562-2542
E-mail: stats@ab.gov.ag
© COPYRIGHT 2018
Data from these tables may be reproduced with acknowledgement from source
Please quote the source as: Statistics Division, Ministry of Finance and Corporate Governance, Antigua and Barbuda
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TABLE OF CONTENTS
FOREWORD ....................................................................................................................... vii
INTRODUCTION .................................................................................................................. ix
SELECTED ACRONYMS ........................................................................................................ xi
NOTATIONS CONVENTIONS USED IN TABLES ................................................................... xii
STATISTICAL TABLES, GRAPHS AND CHARTS.................................................................... xiii
KEY CONCEPTS AND DEFINITIONS .................................................................................... 65
Key Concepts ........................................................................................ 65
Key Definitions ...................................................................................... 67
Methodology for Estimating Gross Domestic Product ............................ 69
SOURCES AND METHODS OF ESTIMATING THE GROSS VALUE-ADDED ........................... 75
Classification of Sources of Information ................................................. 75
Methods Used to Estimate the GVA by Economic Activity ..................... 78
ANNEX A: ISIC Rev 3.1 ........................................................................ 89
ANNEX B : ASEA .................................................................................. 92
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FOREWORD
The National Accounts Statistics 2017 is the second publication on the Antigua and Barbuda
System of National Accounts produced by the Statistics Division, Ministry of Finance and Corporate
Governance. The purpose of this report is to provide government planners, policymakers, business
enterprises, academics and the general public with indicators for assessing the economic conditions of
Antigua and Barbuda. The statistics contained in this report have been prepared in accordance with the
harmonised methodology adopted by the Eastern Caribbean member countries and is consistent with the
recommendations of the 1993 System of National Accounts.
Presented in this report are tables and charts on the Gross Domestic Product in current and
constant prices, by economic activity and expenditure components, and selected economic indicators for
the period 2000-2016, preliminary estimates for 2017 and projections for 2018 and 20191. Also included
are sections on the sources and methods used to derive the national accounts aggregates that would
provide a guide to data users on the compilation and estimation process.
The tables and accounts presented in this report are useful in analysing the performance of
Antigua and Barbuda’s economy. This report benefited from data collected from administrative records
and the cooperation of the respondents to the annual survey of economic activity.
The Statistics Division wishes to thank the business community, public corporations, government
agencies, and all other stakeholders who have contributed, in one way or another, for the cooperation
received in the provision of the necessary data, to facilitate the completion of this report.
In particular, the Statistics Division would like to acknowledge the significant contribution and the
overwhelming involvement of Mrs. Hazel Corbin, Consultant, and former Statistics Adviser of the Eastern
Caribbean Central Bank (ECCB). Thanks also to Mr. Ivan Michael for his tremendous efforts and the staff
of the National Accounts Unit for their assistance in finalizing this report.
Any suggestions for improvement, comments or queries may be directed to the Statistics Division,
Ministry of Finance and Corporate Governance.
Statchel Edwards
Chief Statistician
Statistics Division Ministry of Finance and Corporate Governance
1 Projections are done by the Consultant
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INTRODUCTION
In any economy, a number of transactions are taking place on a daily basis. Imports are
arriving and exports are going abroad. These transactions need to be organised in a systematic
way. The System of National Accounts 1993 (1993 SNA) is the standard framework to organise
and measure these transactions. It is the basic international standard for compilation of national
accounts, adopted by the United Nations Statistical Commission in 1993 and endorsed by the
Economic and Social Council. The 1993 SNA is a comprehensive, consistent and flexible set of
macro-economic accounts to meet the needs of government and private sector analysis, policy-
makers and decision-makers and is designed for use in all countries, whatever their economic,
social and institutional arrangements and stage of economic development.
The Antigua and Barbuda System of National Accounts is based on the 1993 SNA.
However, the national accounts framework, does not currently comprise the entire set of
integrated macroeconomic accounts, but follows the set of internationally accepted concepts,
definitions, classification, and accounting rules in the compilation of the basic accounts. The
accounts are limited to the compilation of the basic measure of output arising from the economic
activity and expenditure within the economy and among the economic agents, in current and
constant prices and their related indicators.
The national accounts are an indispensable tool for analysing, monitoring and evaluating
the performance of the economy. The accounts are compiled relative to a base year that should
be updated periodically to reflect the changes in the economy. The structure of the Antigua and
Barbuda economy has changed significantly. There have been considerable shifts in the industrial
composition particularly a shift towards services. Consequently, in 2010 with the technical
assistance from the ECCB and Caribbean Centre for Technical Assistance (CARTAC), the Statistics
Division implemented a project to rebase the system of national accounts from base year 1990 to
2006. The process required (a) incorporating new and revised data into the existing estimates,
(b) revising national accounts classification of industries, and (c) rebasing the constant prices from
1990 to 2006. The result is a comprehensive series based on ISIC Rev. 3.1 for classification of GDP
by economic activity. Estimates of gross value added are derived for various industries, especially
types of services that were not accurately captured in the historical series.
The data used in the compilation of the national accounts were obtained from the Annual
Survey of Economic Activity (ASEA) and administrative records of the government, private
establishments and individuals. The ASEA provided the data for the classifications of economic
activity. These data included information on employment and financial operations of businesses
and organisations operating in Antigua and Barbuda. The survey data were collected from a
sample of establishments taken from a detailed list of establishments that is maintained and
updated by the Statistics Division. The ASEA forms were designed to capture two reporting years
(current and previous year). In cases where there were low response rate to the ASEA, additional
information was collected from other administrative sources.
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Other key administrative sources include the Customs and Excise Department that
provided data on external merchandise trade; Inland Revenue Department (IRD) that provided
data on income tax and value-added tax (ABST); Social Security Board (SSB) that provided data on
gross wages for selected establishments; Budget Office, that provided government budget
estimates of revenue and expenditure and the Ministry of Agriculture, Lands, Fisheries and the
Environment (Ministry of Agriculture) that provided data on agricultural production. Other data
sources were Consumer Price Index (CPI) and Balance of Payments (BOP) statistics.
The estimates are based on methodologically sound statistical procedures and economic
theory. Data were validated and cross-checked for consistency of information.
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SELECTED ACRONYMS
APUA Antigua Public Utilities Authority
ASEA Annual Survey of Economic Activity
BOP Balance of Payments
c.i.f. cost, insurance, and freight
CPI Consumer Price Index
ECCB Eastern Caribbean Central Bank
FISIM Financial Intermediation Services Indirectly Measured
f.o.b. free on board
GFCE Government Final Consumption Expenditure
GDP Gross Domestic Product
GVA Gross Value Added
ISIC International Standard Industrial Classification of All Economic Activities
IRD Inland Revenue Department
KWh Kilo Watt hour
SSB Social Security Board
SITC Standard Industrial Trade Classification
SNA System of National Accounts
SUT Supply and Use Table
UN United Nations
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NOTATIONS CONVENTIONS USED IN TABLES
Convention Meaning
M millions
‘000 thousands
P provisional / preliminary
R Revised
E estimated
F forecasted / projected
. Negligible
- Zero
~~ not applicable
n. a not available
EC$ Eastern Caribbean dollar
( ) deficit, decrease or negative value
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STATISTICAL TABLES, GRAPHS AND CHARTS
Table Index
Table 1a: GDP by Economic Activity in Current Prices, 2000-2004 .................................. 16
Table 1b: GDP by Economic Activity in Current Prices, 2005-2009 .................................. 17
Table 1c: GDP by Economic Activity in Current Prices, 2010-2014 .................................. 18
Table 1d: GDP by Economic Activity in Current Prices, 2015-2019 .................................. 19
Table 2a: GDP by Economic Activity in Constant Prices, 2000-2004 ................................ 20
Table 2b: GDP by Economic Activity in Constant Prices, 2005-2009................................ 21
Table 2c: GDP by Economic Activity in Constant Prices, 2010-2014 ................................ 22
Table 2d: GDP by Economic Activity in Constant Prices, 2015-2019................................ 23
Table 3a: Percentage Contribution of GVA by Economic Activity in Current Prices, 2000- 2004 .................................................................................................................................. 24
Table 3b: Percentage Contribution of GVA by Economic Activity in Current Prices, 2005- 2009 .................................................................................................................................. 25
Table 3c: Percentage Contribution of GVA by Economic Activity in Current Prices, 2010- 2014 .................................................................................................................................. 26
Table 3d: Percentage Contribution of GVA by Economic Activity in Current Prices, 2015- 2019 .................................................................................................................................. 27
Table 4a: Percentage Contribution of GVA by Economic Activity in Constant Prices, 2000- 2004 .................................................................................................................................. 28
Table 4b: Percentage Contribution of GVA by Economic Activity in Constant Prices, 2005- 2009 .................................................................................................................................. 29
Table 4c: Percentage Contribution of GVA by Economic Activity in Constant Prices, 2010- 2014 .................................................................................................................................. 30
Table 4d: Percentage Contribution of GVA by Economic Activity in Constant Prices, 2015- 2019 .................................................................................................................................. 31
Table 5a: Rate of Growth of GVA by Economic Activity in Current Prices: 2000-2004 .... 32
Table 5b: Rate of Growth of GVA by Economic Activity in Current Prices: 2005-2009 .... 33
Table 5c: Rate of Growth of GVA by Economic Activity in Current Prices: 2010-2014 .... 34
Table 5d: Rate of Growth of GVA by Economic Activity in Current Prices: 2015-2019 .... 35
Table 6a: Rate of Growth of GVA by Economic Activity in Constant Prices: 2000-2004 .. 36
Table 6b: Rate of Growth of GVA by Economic Activity in Constant Prices: 2005-2009.. 37
Table 6c: Rate of Growth of GVA by Economic Activity in Constant Prices: 2010-2014 .. 38
Table 6d: Rate of Growth of GVA by Economic Activity in Constant Prices: 2015-2019.. 39
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Table 7a: GVA Deflators by Economic Activity 2000-2004 ............................................... 40
Table 7b: GVA Deflators by Economic Activity 2005-2009............................................... 41
Table 7c: GVA Deflators by Economic Activity 2010-2014 ............................................... 42
Table 7d: GVA Deflators by Economic Activity 2015-2019............................................... 43
Table 8a: GVA Consumption in Current Basic Prices, 2000 And 2001 ............................. 44
Table 8b: GVA Consumption in Current Basic Prices, 2002 And 2003 ............................. 44
Table 8c: GVA Consumption in Current Basic Prices, 2004 And 2005 .............................. 46
Table 8d: GVA Consumption in Current Basic Prices, 2006 And 2007 ............................. 47
Table 8e: GVA Consumption in Current Basic Prices, 2008 And 2009 ............................. 48
Table 8f: GVA Consumption in Current Basic Prices, 2010 And 2011 .............................. 49
Table 8g: GVA Consumption in Current Basic Prices, 2012 And 2013 ............................. 50
Table 8h: GVA Consumption in Current Basic Prices, 2014 And 2015 ............................. 51
Table 8i: GVA Consumption in Current Basic Prices, 2016 And 2017 .............................. 52
Table 8j: GVA Consumption in Current Basic Prices, 2018 And 2019 .............................. 53
Table 9a: Expenditure On Gross Domestic Product In Current Prices: 2000-2004 .......... 54
Table 9b: Expenditure on Gross Domestic Product in Current Prices, 2005-2009 ........... 55
Table 9c: Expenditure on Gross Domestic Product in Current Prices, 2010-2014 ........... 56
Table 9d: Expenditure on Gross Domestic Product in Current Prices, 2015-2019 ........... 57
Table 10a: National Accounts Aggregates in Current Prices, 2000-2004 ......................... 58
Table 10b: National Accounts Aggregates in Current Prices, 2005-2009......................... 58
Table 10c: National Accounts Aggregates in Current Prices, 2010-2014 ......................... 59
Table 10d: National Accounts Aggregates in Current Prices, 2015-2019......................... 59
Table 11a: Selected Economic Indicators, 2000-2004 ...................................................... 60
Table 11b: Selected Economic Indicators, 2005-2009 ..................................................... 61
Table 11c: Selected Economic Indicators, 2010-2014 ...................................................... 62
Table 11d: Selected Economic Indicators, 2015-2019 ..................................................... 63
Chart Index
Chart 1: Nominal Gross Domestic Product Growth Rate ................................................. 64
Chart 2: Real Gross Domestic Product Growth Rate ........................................................ 64
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Figure Index
Figure 1: Relationship among Basic, Producer and Purchaser Prices .............................. 66
Figure 2: Components of Gross Domestic Product .......................................................... 67
Figure 3: Derivation of Gross Value-added ...................................................................... 68
Box Index
Box 1: Valuation of Goods and Services ........................................................................... 66
Box 2: Classification of Institutional Sectors .................................................................... 76
Box 3: Types of Production Units ..................................................................................... 77
Box 4: Classification example applied to Antigua and Barbuda ....................................... 77
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Table 1a: GDP by Economic Activity in Current Prices, 2000-2004 All Figures in EC$M
Economic Activity 2000 2001 2002 2003 2004
Agriculture 18.75 17.82 16.46 18.31 19.02 Crops 9.90 9.98 10.24 10.60 11.13 Livestock 7.95 6.94 5.32 6.81 6.99 Forestry 0.90 0.90 0.90 0.90 0.90 Fishing 16.88 17.05 21.6 22.11 20.96 Mining & Quarrying 14.46 16.69 17.65 28.64 16.83 Manufacturing 36.40 37.61 39.96 44.04 46.08 Electricity & Water Supply 60.89 77.64 69.72 56.93 71.27 Electricity 55.29 69.93 60.45 50.95 62.31 Water 5.60 7.71 9.27 5.98 8.96 Construction 198.18 146.49 159.53 175.23 189.97 Wholesale & Retail Trade 317.25 322.23 326.93 331.64 347.31 Hotels & Restaurants 291.00 285.74 291.46 325.45 360.37 Accommodation 237.40 229.09 232.42 261.66 306.04 Restaurants 53.60 56.65 59.04 63.79 54.34 Transport, Storage & Communication 322.96 286.40 283.70 294.17 281.36 Transport & Storage 182.51 157.35 155.61 165.5 165.44 Road Transport 99.49 89.58 88.89 106.90 111.96 Sea Transport 2.52 1.28 0.65 0.38 1.00 Air Transport 58.63 43.21 43.09 37.29 27.27 Auxiliary Transport Activities & Storage 21.87 23.28 22.98 20.93 25.20 Communications 140.45 129.06 128.09 128.67 115.92 Financial Intermediation 141.89 142.99 161.57 149.79 178.54 Banks 111.74 106.07 120.89 108.21 126.37 Insurance 30.00 36.77 40.52 41.41 42.79 Offshore Banks & Trusts 0 0 0 0 6.10 Auxiliary 0.14 0.15 0.16 0.17 3.27 Real Estate, Renting & Business Activities 201.92 205.23 214.21 226.04 234.96 Owner Occupied Dwellings 142.29 142.82 148.99 154.79 160.88 Real Estate Activities 7.46 9.59 10.03 11.26 11.07 Renting of Machinery & Equipment 11.35 11.35 12.87 12.98 12.00 Computer & Related Services 0.94 1.49 1.52 1.48 1.76 Business Services 39.90 39.99 40.80 45.53 49.24 Public Administration & Defence; Compulsory Social Security 158.72 164.25 186.01 194.33 201.88 Education 55.58 57.42 61.71 64.22 67.81 Public 44.38 45.84 49.46 51.67 54.05 Private 11.20 11.58 12.25 12.55 13.76 Health & Social Work 74.52 78.88 66.5 68.45 70.23 Public 66.33 69.48 57.48 58.98 59.93 Private 8.20 9.40 9.02 9.47 10.30 Other Community, Social & Personal Services 139.60 89.71 50.16 60.52 65.52 Public 2.83 2.93 3.12 3.27 3.21 Private 136.76 86.78 47.04 57.24 62.31 Private Households with Employed Persons 7.11 7.13 7.22 7.55 8.57 Less FISIM 41.61 38.61 38.71 37.18 38.68 GVA in Basic Prices 2,014.48 1,914.66 1,935.68 2,030.23 2,141.99 Growth Rate (%) (4.96) 1.10 4.88 5.50 Taxes on Products 231.10 251.51 267.96 284.53 352.58 Less Subsidies on Products 4.15 4.17 4.18 4.52 11.71 GDP in Market Prices 2,241.43 2,162.00 2,199.46 2,310.24 2,482.86 Growth Rate (%) (3.54) 1.73 5.04 7.47
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Table 1b: GDP by Economic Activity in Current Prices, 2005-2009
All Figures in EC$M
Economic Activity 2005 2006 2007 2008 2009
Agriculture 18.42 20.27 20.94 22.79 23.08
Crops 11.72 12.20 12.69 13.60 14.85 Livestock 5.79 7.17 7.35 8.27 7.31 Forestry 0.90 0.90 0.90 0.92 0.92
Fishing 30.10 31.37 35.98 34.46 26.39 Mining & Quarrying 19.56 35.76 41.32 41.58 31.24 Manufacturing 49.48 56.82 60.06 58.76 68.36 Electricity & Water Supply 77.20 82.25 74.36 110.64 91.32
Electricity 64.06 59.58 55.48 102.06 65.41 Water 13.14 22.67 18.89 8.58 25.90
Construction 254.76 401.93 453.08 496.82 453.25 Wholesale & Retail Trade 389.74 434.67 505.67 559.25 407.29 Hotels & Restaurants 338.72 347.64 349.90 352.01 333.67
Accommodation 277.78 289.55 286.37 283.08 258.63 Restaurants 60.93 58.09 63.53 68.92 75.04
Transport, Storage & Communication 349.62 334.62 412.59 422.48 383.09 Transport & Storage 191.71 206.33 266.97 264.87 239.23 Road Transport 116.42 135.44 152.49 158.51 123.61 Sea Transport 0.91 1.26 2.12 2.40 2.53 Air Transport 50.42 42.38 80.04 73.94 80.94 Auxiliary Transport Activities & Storage 23.97 27.25 32.32 30.02 32.15 Communications 157.91 128.29 145.62 157.61 143.86
Financial Intermediation 205.12 250.32 286.98 278.78 272.12 Banks 149.43 190.78 219.34 208.93 196.17 Insurance 45.20 48.14 51.31 56.57 58.83 Offshore Banks & Trusts 5.75 6.91 8.15 8.98 11.13 Auxiliary 4.74 4.50 8.18 4.29 5.99
Real Estate, Renting & Business Activities 255.66 275.64 304.18 314.26 310.86 Owner Occupied Dwellings 167.32 173.49 179.23 192.44 194.83 Real Estate Activities 14.93 22.27 35.81 36.80 28.90 Renting of Machinery & Equipment 10.98 11.08 11.36 9.45 5.78 Computer & Related Services 1.90 1.82 2.13 2.56 1.81 Business Services 60.53 66.98 75.65 73.00 79.54
Public Administration & Defence; Compulsory Social Security 201.69 220.65 243.88 252.93 254.75 Education 105.31 123.68 144.16 152.19 149.53
Public 58.41 56.66 62.91 64.87 65.41 Private 46.90 67.02 81.26 87.32 84.12
Health & Social Work 72.05 67.56 73.55 75.43 76.80 Public 60.71 55.03 60.45 62.15 62.62 Private 11.34 12.54 13.10 13.27 14.18
Other Community, Social & Personal Services 74.88 65.52 60.12 64.17 60.96 Public 3.35 3.40 3.78 3.89 3.93 Private 71.54 62.11 56.35 60.28 57.04
Private Households with Employed Persons 10.75 12.06 12.81 12.12 14.80 Less FISIM 46.91 55.02 80.42 74.74 74.93
GVA in Basic Prices 2,406.15 2,705.76 2,999.18 3,173.91 2,882.58 Growth Rate (%) 12.33 12.45 10.84 5.83 (9.18)
Taxes on Products 368.31 427.90 563.33 547.23 446.90 Less Subsidies on Products 14.55 9.75 21.73 26.37 24.00 GDP in Market Prices 2,759.92 3,123.91 3,540.78 3,694.76 3,305.48
Growth Rate (%) 11.16 13.19 13.34 4.35 (10.54)
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Table 1c: GDP by Economic Activity in Current Prices, 2010-2014
All Figures in EC$M
Economic Activity 2010 2011 2012 2013 2014
Agriculture 26.40 29.92 28.73 29.39 30.13
Crops 15.74 16.70 17.70 18.76 19.89 Livestock 9.74 12.30 10.11 9.70 9.32
Forestry 0.92 0.92 0.92 0.92 0.92
Fishing 24.24 29.46 32.79 34.97 25.74 Mining & Quarrying 25.28 20.40 21.62 30.32 31.71 Manufacturing 66.88 69.00 67.3 87.38 92.96 Electricity & Water Supply 113.58 131.58 112.42 109.05 118.31
Electricity 93.37 116.96 98.99 93.83 105.02 Water 20.2 14.62 13.43 15.22 13.29
Construction 296.47 225.35 260.43 273.5 303.27 Wholesale & Retail Trade 391.00 372.21 415.73 404.73 436.87 Hotels & Restaurants 334.08 350.49 362.27 362.76 374.52
Accommodation 252.38 264.26 270.4 266.27 270.57 Restaurants 81.71 86.23 91.87 96.49 103.95
Transport, Storage & Communication 335.96 321.79 334.89 315.62 335.10 Transport & Storage 221.3 215.54 230.63 207.16 222.54 Road Transport 118.36 121.67 127.96 126.51 134.24 Sea Transport 2.02 2.19 2.13 2.34 2.54 Air Transport 71.35 55.69 58.62 37.11 42.44 Auxiliary Transport Activities & Storage 29.57 35.99 41.91 41.19 43.32 Communications 114.66 106.26 104.26 108.46 112.56
Financial Intermediation 279.52 292.72 290.33 222.72 223.69 Banks 206.52 219.90 217.85 153.17 148.90 Insurance 55.91 56.90 56.71 53.47 50.28 Offshore Banks & Trusts 10.64 11.17 11.54 10.83 21.33 Auxiliary 6.45 4.76 4.23 5.25 3.17
Real Estate, Renting & Business Activities 338.01 357.75 372.97 391.59 419.81 Owner Occupied Dwellings 209.20 220.24 232.2 238.11 244.32 Real Estate Activities 32.56 35.64 35.93 28.33 29.85 Renting of Machinery & Equipment 8.34 10.27 9.65 8.85 8.23 Computer & Related Services 1.84 1.73 1.53 1.32 1.09 Business Services 86.07 89.87 93.67 114.99 136.32
Public Administration & Defence; Compulsory Social Security 237.85 237.17 250.31 249.54 289.73 Education 135.73 136.99 154.04 170.43 178.63
Public 61.16 60.79 63.83 63.37 73.76 Private 74.57 76.20 90.21 107.06 104.87
Health & Social Work 77.82 80.64 88.37 88.08 94.96 Public 64.45 67.38 74.63 73.71 80.10 Private 13.37 13.26 13.74 14.37 14.86
Other Community, Social & Personal Services 64.12 67.24 70.51 76.62 79.65 Public 3.67 3.65 3.83 3.80 4.43 Private 60.45 63.59 66.68 72.82 75.23
Private Households with Employed Persons 15.02 15.17 15.59 15.65 15.31 Less FISIM 88.17 92.00 85.11 65.17 54.08
GVA in Basic Prices 2,673.80 2,645.87 2,793.20 2,797.19 2996.30 Growth Rate (%) (7.24) (1.04) 5.57 0.14 7.12
Taxes on Products 460.87 462.64 503.61 449.71 473.76 Less Subsidies on Products 23.00 25.00 26.00 26.00 26.00 GDP in Market Prices 3,111.67 3,083.52 3,270.81 3,220.90 3,444.06
Growth Rate (%) (5.86) (0.90) 6.07 (1.53) 6.93
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Table 1d: GDP by Economic Activity in Current Prices, 2015-2019
All Figures in EC$M
Economic Activity 2015 2016 2017R 2018P 2019P
Agriculture 30.28 31.75 33.07 34.29 35.40
Crops 20.88 21.93 22.92 23.73 24.45 Livestock 8.48 8.90 9.21 9.63 10.02 Forestry 0.92 0.92 0.93 0.93 0.93
Fishing 27.91 29.31 38.19 39.73 40.73 Mining & Quarrying 28.25 31.48 35.93 39.91 44.75 Manufacturing 96.83 105.56 102.56 108.27 113.19 Electricity & Water Supply 152.08 175.17 157.28 160.71 165.73
Electricity 144.11 168.37 151.93 154.99 159.67 Water 7.98 6.80 5.34 5.72 6.07
Construction 316.82 379.24 473.89 588.57 700.54 Wholesale & Retail Trade 449.11 455.79 470.95 506.58 526.99 Hotels & Restaurants 383.64 424.46 419.36 447.28 466.03
Accommodation 274.31 301.54 287.59 306.45 318.80 Restaurants 109.33 122.92 131.77 140.83 147.24
Transport, Storage & Communication 379.53 413.53 422.37 456.87 485.26 Transport & Storage 256.42 276.82 289.34 319.83 344.08 Road Transport 138.98 143.71 149.53 161.67 173.15 Sea Transport 2.82 2.99 3.22 3.74 4.00 Air Transport 71.64 75.39 71.53 78.09 82.85 Auxiliary Transport Activities & Storage 42.98 54.73 65.07 76.33 84.08 Communications 123.11 136.71 133.03 137.05 141.18
Financial Intermediation 241.39 254.48 265.63 279.24 293.61 Banks 169.43 190.22 198.02 209.05 220.69 Insurance 50.54 49.57 51.25 53.32 55.47
Offshore Banks & Trusts 15.57 10.83 12.51 12.89 13.28 Auxiliary 5.86 3.86 3.85 3.98 4.16 Real Estate, Renting & Business Activities 468.01 472.09 495.40 518.58 541.05
Owner Occupied Dwellings 249.83 253.08 263.22 272.65 282.41 Real Estate Activities 44.00 46.75 49.26 51.75 54.37 Renting of Machinery & Equipment 7.54 6.67 7.34 7.96 8.64 Computer & Related Services 1.17 1.20 1.32 1.37 1.42 Business Services 165.46 164.40 174.27 184.86 194.21
Public Administration & Defence; Compulsory Social Security 300.83 321.39 324.66 334.40 341.09 Education 168.69 199.64 197.10 204.20 210.70
Public 76.40 82.45 83.10 85.59 87.30 Private 92.29 117.19 114.00 118.61 123.40
Health & Social Work 101.46 108.72 110.33 113.75 116.35 Public 82.39 88.73 90.01 92.71 94.56 Private 19.07 19.99 20.33 21.04 21.79
Other Community, Social & Personal Services 81.41 80.93 81.20 84.43 87.73 Public 4.59 4.95 4.99 5.14 5.24 Private 76.82 75.98 76.21 79.29 82.49
Private Households with Employed Persons 12.54 11.39 10.27 10.07 10.06 Less FISIM 54.85 59.76 62.86 65.40 67.71
GVA in Basic Prices 3183.93 3435.18 3575.33 3861.47 4111.52 Growth Rate (%) 6.26 7.89 4.08 8.00 6.48
Taxes on Products 511.89 545.32 544.93 555.83 566.95 Less Subsidies on Products 26.00 26.00 26.00 26.00 26.00 GDP in Market Prices 3,669.83 3,954.50 4,094.26 4,391.30 4,652.47
Growth Rate (%) 6.56 7.76 3.53 7.25 5.95
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Table 2a: GDP by Economic Activity in Constant Prices, 2000-2004
All Figures in EC$M
Economic Activity 2000 2001 2002 2003 2004
Agriculture 19.11 18.10 16.89 18.83 19.33
Crops 10.94 10.94 11.08 11.50 11.62 Livestock 7.27 6.26 4.91 6.43 6.82 Forestry 0.90 0.90 0.90 0.90 0.90
Fishing 19.28 19.47 25.20 25.78 24.40 Mining & Quarrying 16.77 19.36 20.47 31.95 18.08 Manufacturing 42.23 43.03 45.31 45.98 48.19 Electricity & Water Supply 68.19 68.44 71.64 69.18 74.46
Electricity 48.48 51.01 52.43 52.02 53.77 Water 19.71 17.43 19.22 17.15 20.69
Construction 244.31 172.82 184.51 202.67 215.42 Wholesale & Retail Trade 352.98 356.87 353.56 351.65 360.94 Hotels & Restaurants 315.57 298.02 304.52 333.33 341.81
Accommodation 257.93 237.71 242.81 267.69 285.77 Restaurants 57.64 60.31 61.71 65.64 56.04
Transport, Storage & Communication 300.64 270.74 256.37 288.28 309.66 Transport & Storage 158.92 144.81 134.48 158.55 177.73 Road Transport 107.59 96.08 83.86 100.04 111.96 Sea Transport 1.16 0.92 0.73 0.57 0.71 Air Transport 36.75 34.80 35.86 37.94 41.91 Auxiliary Transport Activities & Storage 13.43 13.01 14.03 20.01 23.15 Communications 141.72 125.94 121.89 129.72 131.94
Financial Intermediation 146.57 156.87 178.08 180.34 198.93 Banks 112.56 120.14 138.99 139.30 145.32 Insurance 33.82 36.54 38.89 40.85 42.79 Offshore Banks & Trusts 0.00 0.00 0.00 0.00 6.34 Auxiliary 0.19 0.19 0.19 0.19 4.48
Real Estate, Renting & Business Activities 222.52 225.04 231.06 238.95 244.29 Owner Occupied Dwellings 158.18 158.18 161.13 164.13 167.19 Real Estate Activities 8.18 10.44 10.77 11.75 11.27 Renting of Machinery & Equipment 12.33 12.22 13.93 13.66 12.29 Computer & Related Services 1.03 1.31 1.61 1.33 1.73 Business Services 42.81 42.90 43.64 48.08 51.80
Public Administration & Defence; Compulsory Social Security 170.11 176.03 199.36 208.28 216.37 Education 60.62 62.62 66.93 69.72 73.32
Public 47.59 49.15 53.04 55.40 57.95 Private 13.04 13.46 13.89 14.32 15.37
Health & Social Work 80.24 84.84 71.42 73.24 74.92 Public 71.12 74.51 61.64 63.24 64.26 Private 9.12 10.33 9.78 10.00 10.66
Other Community, Social & Personal Services 147.24 97.94 55.64 64.95 63.87 Public 3.04 3.14 3.34 3.51 3.45 Private 144.20 94.80 52.30 61.44 60.43
Private Households with Employed Persons 7.90 7.89 7.81 8.00 8.91 Less FISIM 40.67 42.38 45.04 46.73 46.26
GVA in Basic Prices 2,173.62 2,035.71 2,043.73 2,164.40 2,246.67 Growth Rate (%) (6.34) 0.39 5.90 3.80
Plus: Taxes less Subsidies on Products 244.89 262.38 278.05 298.28 357.52
GVA in Basic Prices 2,418.51 2,298.09 2,321.77 2,462.68 2,604.18 Growth Rate (%) (4.98) 1.03 6.07 5.75
Page | 21
Table 2b: GDP by Economic Activity in Constant Prices, 2005-2009
All Figures in EC$M
Economic Activity 2005 2006 2007 2008 2009
Agriculture 18.72 20.27 19.75 20.34 20.09
Crops 12.00 12.20 12.06 12.05 12.93 Livestock 5.82 7.17 6.79 7.36 6.24 Forestry 0.90 0.90 0.90 0.92 0.92
Fishing 30.14 31.37 31.41 27.31 20.86 Mining & Quarrying 20.26 35.76 39.18 39.29 29.32 Manufacturing 50.54 56.82 62.01 56.35 62.33 Electricity & Water Supply 79.88 82.25 90.79 95.93 97.30
Electricity 56.02 59.58 65.13 68.40 69.93 Water 23.86 22.67 25.66 27.53 27.37
Construction 275.13 401.93 431.49 434.09 394.04 Wholesale & Retail Trade 396.71 434.67 498.61 523.16 383.78 Hotels & Restaurants 342.19 347.64 366.08 374.58 344.40
Accommodation 282.64 289.55 303.72 308.15 273.41 Restaurants 59.55 58.09 62.37 66.42 70.99
Transport, Storage & Communication 315.98 334.62 347.29 345.92 296.16 Transport & Storage 179.17 206.33 224.39 216.41 176.07 Road Transport 116.42 135.44 150.46 143.33 112.07 Sea Transport 0.73 1.26 1.93 1.98 1.98 Air Transport 40.25 42.38 42.22 41.57 36.52 Auxiliary Transport Activities & Storage 21.78 27.25 29.78 29.53 25.50 Communications 136.81 128.29 122.90 129.51 120.09
Financial Intermediation 207.36 250.32 273.68 285.64 259.17 Banks 152.18 190.78 208.75 220.21 188.98 Insurance 45.20 48.14 50.08 52.77 54.88 Offshore Banks & Trusts 5.85 6.91 8.04 8.41 9.65 Auxiliary 4.12 4.50 6.81 4.25 5.66
Real Estate, Renting & Business Activities 262.85 275.64 296.59 291.13 288.11 Owner Occupied Dwellings 170.31 173.49 176.73 180.02 183.39 Real Estate Activities 14.93 22.27 35.78 36.61 28.89 Renting of Machinery & Equipment 11.00 11.08 11.45 9.47 5.53 Computer & Related Services 1.97 1.82 1.95 2.21 1.68 Business Services 64.64 66.98 70.68 62.81 68.61
Public Administration & Defence; Compulsory Social Security 201.69 220.65 214.96 225.09 214.60 Education 105.42 123.68 143.54 135.76 133.59
Public 58.41 56.66 62.91 58.97 59.46 Private 47.00 67.02 80.63 76.79 74.13
Health & Social Work 72.06 67.56 73.54 69.42 70.81 Public 60.71 55.03 60.45 56.50 56.92 Private 11.35 12.54 13.09 12.93 13.89
Other Community, Social & Personal Services 74.71 65.52 59.20 58.26 54.31 Public 3.35 3.40 3.78 3.54 3.57 Private 71.36 62.11 55.42 54.72 50.74
Private Households with Employed Persons 10.94 12.06 12.63 11.34 13.94 Less FISIM 48.60 55.02 69.66 62.48 67.49
GVA in Basic Prices 2,415.98 2,705.76 2,891.09 2,931.13 2,615.32 Growth Rate (%) 7.54 11.99 6.85 1.38 (10.77) Plus: Taxes less Subsidies on Products 355.02 418.15 522.22 481.26 383.81
GVA in Basic Prices 2,771.00 3,123.91 3,413.30 3,412.39 2,999.13 Growth Rate (%) 6.41 12.74 9.26 (0.03) (12.11)
Page | 22
Table 2c: GDP by Economic Activity in Constant Prices, 2010-2014
All Figures in EC$M
Economic Activity 2010 2011 2012 2013 2014
Agriculture 22.28 23.61 22.64 21.91 22.54
Crops 13.18 13.48 14.02 14.76 15.09 Livestock 8.17 9.21 7.71 6.23 6.53 Forestry 0.92 0.92 0.92 0.92 0.92
Fishing 19.36 23.68 25.79 29.21 20.39 Mining & Quarrying 23.88 19.27 20.48 28.76 30.11 Manufacturing 56.84 58.41 49.51 58.22 60.48 Electricity & Water Supply 98.37 106.26 104.77 102.69 100.82
Electricity 74.75 81.28 79.00 77.10 78.79 Water 23.62 24.98 25.77 25.59 22.03
Construction 256.46 193.97 213.49 219.53 235.07 Wholesale & Retail Trade 356.07 327.99 349.04 340.98 364.09 Hotels & Restaurants 340.50 355.38 363.26 363.23 373.96
Accommodation 264.62 276.76 281.03 278.12 283.63 Restaurants 75.88 78.62 82.23 85.11 90.33
Transport, Storage & Communication 274.32 274.82 272.11 267.06 274.70 Transport & Storage 164.01 158.88 167.55 158.88 165.06 Road Transport 105.34 101.45 103.37 101.15 106.03 Sea Transport 1.75 1.74 1.70 1.87 2.03 Air Transport 35.31 35.05 35.21 33.89 34.51 Auxiliary Transport Activities & Storage 21.62 20.64 27.26 21.98 22.50
Communications 110.31 115.94 104.57 108.18 109.64 Financial Intermediation 245.59 247.32 244.14 228.98 230.65
Banks 178.75 177.21 176.48 163.23 167.01 Insurance 53.61 56.78 55.63 53.86 52.38 Offshore Banks & Trusts 7.43 7.59 7.51 6.97 7.45 Auxiliary 5.80 5.75 4.52 4.92 3.81
Real Estate, Renting & Business Activities 299.18 305.72 310.79 325.39 340.69 Owner Occupied Dwellings 190.31 193.87 197.50 200.40 203.41 Real Estate Activities 32.57 35.65 35.95 28.34 29.87 Renting of Machinery & Equipment 7.61 9.19 8.54 7.80 7.19 Computer & Related Services 1.68 1.70 1.61 1.41 1.22 Business Services 67.01 65.30 67.20 87.44 99.00
Public Administration & Defence; Compulsory Social Security 200.36 199.78 206.72 210.21 242.80 Education 119.90 120.61 133.51 148.90 155.72
Public 55.60 55.26 56.89 57.60 67.05 Private 64.31 65.35 76.63 91.29 88.67
Health & Social Work 71.56 73.57 78.00 78.84 85.02 Public 58.59 61.25 66.51 67.00 72.82 Private 12.97 12.32 11.49 11.83 12.20
Other Community, Social & Personal Services 58.97 61.43 64.77 69.78 71.59 Public 3.34 3.32 3.41 3.46 4.02 Private 55.63 58.11 61.35 66.33 67.57
Private Households with Employed Persons 13.68 13.37 13.28 13.19 12.76 Less FISIM 65.87 66.77 63.43 59.73 55.69
GVA in Basic Prices 2,391.46 2,338.43 2,408.89 2,447.16 2565.70 Growth Rate (%) (8.56) (2.22) 3.01 1.59 4.84 Plus: Taxes less Subsidies on Products 391.86 386.80 411.59 370.69 383.41
GVA in Basic Prices 2,783.32 2,725.23 2,820.48 2,817.85 2,949.11 Growth Rate (%) (7.20) (2.09) 3.49 (0.09) 4.66
Page | 23
Table 2d: GDP by Economic Activity in Constant Prices, 2015-2019
All Figures in EC$M
Economic Activity 2015 2016 2017R 2018P 2019P
Agriculture 22.03 22.69 23.02 23.57 24.02
Crops 15.05 15.41 15.64 16.03 16.35 Livestock 6.06 6.36 6.45 6.62 6.75 Forestry 0.92 0.92 0.92 0.92 0.92
Fishing 22.04 23.15 29.65 30.54 31.00 Mining & Quarrying 26.76 29.82 34.09 37.50 41.62 Manufacturing 61.40 65.28 63.49 66.03 68.01 Electricity & Water Supply 107.80 108.37 109.40 111.67 114.66
Electricity 82.59 84.89 85.81 86.67 88.40 Water 25.22 23.49 23.59 25.00 26.25
Construction 244.33 288.14 354.73 425.68 489.53 Wholesale & Retail Trade 371.62 378.06 381.39 406.18 418.36 Hotels & Restaurants 382.28 406.61 398.66 419.80 431.82
Accommodation 288.70 303.00 289.28 305.19 314.34 Restaurants 93.58 103.61 109.38 114.61 117.48
Transport, Storage & Communication 288.50 296.19 303.63 320.18 332.86 Transport & Storage 171.67 171.65 179.97 194.05 204.21 Road Transport 107.40 108.87 108.89 115.43 121.20 Sea Transport 2.24 2.38 2.56 2.95 3.12 Air Transport 35.31 37.52 34.69 36.77 37.88 Auxiliary Transport Activities & Storage 26.72 22.88 33.83 38.90 42.01 Communications 116.83 124.54 123.66 126.13 128.65
Financial Intermediation 234.12 231.25 239.57 246.91 254.53 Banks 169.71 170.01 175.72 181.87 188.23 Insurance 52.64 51.64 53.39 54.46 55.54 Offshore Banks & Trusts 7.11 5.83 6.78 6.85 6.92 Auxiliary 4.66 3.77 3.68 3.74 3.83
Real Estate, Renting & Business Activities 381.87 396.26 407.21 417.92 427.54 Owner Occupied Dwellings 206.51 209.70 212.94 216.24 219.60 Real Estate Activities 44.25 48.68 48.07 49.51 51.00 Renting of Machinery & Equipment 6.61 5.72 6.15 6.54 6.96 Computer & Related Services 1.01 1.08 1.11 1.13 1.15 Business Services 123.48 131.07 138.93 144.49 148.83
Public Administration & Defence; Compulsory Social Security 253.41 250.40 271.03 279.16 284.74 Education 146.39 173.38 171.08 175.26 178.76
Public 69.45 74.95 75.54 77.80 79.36 Private 76.94 98.43 95.54 97.45 99.40
Health & Social Work 89.92 96.75 98.39 101.18 103.20 Public 74.90 80.66 81.82 84.27 85.96 Private 15.02 16.09 16.57 16.91 17.24
Other Community, Social & Personal Services 72.18 68.59 68.46 69.88 71.28 Public 4.17 4.50 4.53 4.67 4.76
Private 68.01 64.09 63.93 65.21 66.51 Private Households with Employed Persons 10.38 9.45 8.32 8.07 7.99
Less FISIM 53.37 50.80 52.97 54.03 54.84 GVA in Basic Prices 2661.65 2793.59 2909.15 3085.49 3225.09
Growth Rate (%) 3.74 4.96 4.14 6.06 4.52 Plus: Taxes less Subsidies on Products 406.19 422.33 422.24 423.36 424.32
GVA in Basic Prices 3,067.84 3,215.92 3,331.39 3,508.84 3,649.40
Growth Rate (%) 4.03 4.83 3.59 5.33 4.01
Page | 24
Table 3a: Percentage Contribution of GVA by Economic Activity in Current Prices, 2000-2004
(%)
Economic Activity 2000 2001 2002 2003 2004
Agriculture 0.93 0.93 0.85 0.90 0.89
Crops 0.49 0.52 0.53 0.52 0.52 Livestock 0.39 0.36 0.27 0.34 0.33 Forestry 0.04 0.05 0.05 0.04 0.04
Fishing 0.84 0.89 1.12 1.09 0.98 Mining & Quarrying 0.72 0.87 0.91 1.41 0.79 Manufacturing 1.81 1.96 2.06 2.17 2.15 Electricity & Water Supply 3.02 4.06 3.60 2.80 3.33
Electricity 2.74 3.65 3.12 2.51 2.91 Water 0.28 0.40 0.48 0.29 0.42
Construction 9.84 7.65 8.24 8.63 8.87 Wholesale & Retail Trade 15.75 16.83 16.89 16.33 16.21 Hotels & Restaurants 14.45 14.92 15.06 16.03 16.82
Accommodation 11.78 11.97 12.01 12.89 14.29 Restaurants 2.66 2.96 3.05 3.14 2.54
Transport, Storage & Communication 16.03 14.96 14.66 14.49 13.14 Transport & Storage 9.06 8.22 8.04 8.15 7.72
Road Transport 4.94 4.68 4.59 5.27 5.23 Sea Transport 0.13 0.07 0.03 0.02 0.05 Air Transport 2.91 2.26 2.23 1.84 1.27 Auxiliary Transport Activities & Storage 1.09 1.22 1.19 1.03 1.18 Communications 6.97 6.74 6.62 6.34 5.41
Financial Intermediation 7.04 7.47 8.35 7.38 8.34 Banks 5.55 5.54 6.25 5.33 5.90 Insurance 1.49 1.92 2.09 2.04 2.00 Offshore Banks & Trusts 0.00 0.00 0.00 0.00 0.28 Auxiliary 0.01 0.01 0.01 0.01 0.15
Real Estate, Renting & Business Activities 10.02 10.72 11.07 11.13 10.97 Owner Occupied Dwellings 7.06 7.46 7.70 7.62 7.51 Real Estate Activities 0.37 0.50 0.52 0.55 0.52 Renting of Machinery & Equipment 0.56 0.59 0.67 0.64 0.56 Computer & Related Services 0.05 0.08 0.08 0.07 0.08 Business Services 1.98 2.09 2.11 2.24 2.30
Public Administration & Defence; Compulsory Social Security 7.88 8.58 9.61 9.57 9.42 Education 2.76 3.00 3.19 3.16 3.17
Public 2.20 2.39 2.56 2.54 2.52 Private 0.56 0.60 0.63 0.62 0.64
Health & Social Work 3.70 4.12 3.44 3.37 3.28 Public 3.29 3.63 2.97 2.91 2.80 Private 0.41 0.49 0.47 0.47 0.48
Other Community, Social & Personal Services 6.93 4.69 2.59 2.98 3.06 Public 0.14 0.15 0.16 0.16 0.15 Private 6.79 4.53 2.43 2.82 2.91
Private Households with Employed Persons 0.35 0.37 0.37 0.37 0.40 Less FISIM 2.07 2.02 2.00 1.83 1.81
TOTAL 100.00 100.00 100.00 100.00 100.00
Totals may not add up due to rounding
Page | 25
Table 3b: Percentage Contribution of GVA by Economic Activity in Current Prices, 2005-2009
(%)
Economic Activity 2005 2006 2007 2008 2009
Agriculture 0.77 0.75 0.70 0.72 0.80
Crops 0.49 0.45 0.42 0.43 0.52 Livestock 0.24 0.27 0.25 0.26 0.25 Forestry 0.04 0.03 0.03 0.03 0.03
Fishing 1.25 1.16 1.20 1.09 0.92 Mining & Quarrying 0.81 1.32 1.38 1.31 1.08 Manufacturing 2.06 2.10 2.00 1.85 2.37 Electricity & Water Supply 3.21 3.04 2.48 3.49 3.17
Electricity 2.66 2.20 1.85 3.22 2.27 Water 0.55 0.84 0.63 0.27 0.90
Construction 10.59 14.85 15.11 15.65 15.72 Wholesale & Retail Trade 16.20 16.06 16.86 17.62 14.13 Hotels & Restaurants 14.08 12.85 11.67 11.09 11.58
Accommodation 11.54 10.70 9.55 8.92 8.97 Restaurants 2.53 2.15 2.12 2.17 2.60
Transport, Storage & Communication 14.53 12.37 13.76 13.31 13.29 Transport & Storage 7.97 7.63 8.90 8.35 8.30
Road Transport 4.84 5.01 5.08 4.99 4.29 Sea Transport 0.04 0.05 0.07 0.08 0.09 Air Transport 2.10 1.57 2.67 2.33 2.81 Auxiliary Transport Activities & Storage 1.00 1.01 1.08 0.95 1.12 Communications 6.56 4.74 4.86 4.97 4.99
Financial Intermediation 8.52 9.25 9.57 8.78 9.44 Banks 6.21 7.05 7.31 6.58 6.81 Insurance 1.88 1.78 1.71 1.78 2.04 Offshore Banks & Trusts 0.24 0.26 0.27 0.28 0.39 Auxiliary 0.20 0.17 0.27 0.14 0.21
Real Estate, Renting & Business Activities 10.63 10.19 10.14 9.90 10.78 Owner Occupied Dwellings 6.95 6.41 5.98 6.06 6.76 Real Estate Activities 0.62 0.82 1.19 1.16 1.00 Renting of Machinery & Equipment 0.46 0.41 0.38 0.30 0.20 Computer & Related Services 0.08 0.07 0.07 0.08 0.06 Business Services 2.52 2.48 2.52 2.30 2.76
Public Administration & Defence; Compulsory Social Security 8.38 8.15 8.13 7.97 8.84 Education 4.38 4.57 4.81 4.79 5.19
Public 2.43 2.09 2.10 2.04 2.27 Private 1.95 2.48 2.71 2.75 2.92
Health & Social Work 2.99 2.50 2.45 2.38 2.66 Public 2.52 2.03 2.02 1.96 2.17 Private 0.47 0.46 0.44 0.42 0.49
Other Community, Social & Personal Services 3.11 2.42 2.00 2.02 2.11 Public 0.14 0.13 0.13 0.12 0.14 Private 2.97 2.30 1.88 1.90 1.98
Private Households with Employed Persons 0.45 0.45 0.43 0.38 0.51 Less FISIM 1.95 2.03 2.68 2.35 2.60
TOTAL 100.00 100.00 100.00 100.00 100.00
Totals may not add up due to rounding
Page | 26
Table 3c: Percentage Contribution of GVA by Economic Activity in Current Prices, 2010-2014
(%)
Economic Activity 2010 2011 2012 2013 2014
Agriculture 0.99 1.13 1.03 1.05 1.01
Crops 0.59 0.63 0.63 0.67 0.66 Livestock 0.36 0.46 0.36 0.35 0.31 Forestry 0.03 0.03 0.03 0.03 0.03
Fishing 0.91 1.11 1.17 1.25 0.86 Mining & Quarrying 0.95 0.77 0.77 1.08 1.06 Manufacturing 2.50 2.61 2.41 3.12 3.10 Electricity & Water Supply 4.25 4.97 4.02 3.90 3.95
Electricity 3.49 4.42 3.54 3.35 3.50 Water 0.76 0.55 0.48 0.54 0.44
Construction 11.09 8.52 9.32 9.78 10.12 Wholesale & Retail Trade 14.62 14.07 14.88 14.47 14.58 Hotels & Restaurants 12.49 13.25 12.97 12.97 12.50
Accommodation 9.44 9.99 9.68 9.52 9.03 Restaurants 3.06 3.26 3.29 3.45 3.47
Transport, Storage & Communication 12.56 12.16 11.99 11.28 11.18 Transport & Storage 8.28 8.15 8.26 7.41 7.43
Road Transport 4.43 4.60 4.58 4.52 4.48 Sea Transport 0.08 0.08 0.08 0.08 0.08 Air Transport 2.67 2.10 2.10 1.33 1.42 Auxiliary Transport Activities & Storage 1.11 1.36 1.50 1.47 1.45 Communications 4.29 4.02 3.73 3.88 3.76
Financial Intermediation 10.45 11.06 10.39 7.96 7.47 Banks 7.72 8.31 7.80 5.48 4.97 Insurance 2.09 2.15 2.03 1.91 1.68 Offshore Banks & Trusts 0.40 0.42 0.41 0.39 0.71 Auxiliary 0.24 0.18 0.15 0.19 0.11
Real Estate, Renting & Business Activities 12.64 13.52 13.74 14.00 14.01 Owner Occupied Dwellings 7.82 8.32 8.31 8.51 8.15 Real Estate Activities 1.22 1.35 1.29 1.01 1.00 Renting of Machinery & Equipment 0.31 0.39 0.35 0.32 0.27 Computer & Related Services 0.07 0.07 0.05 0.05 0.04 Business Services 3.22 3.40 3.35 4.11 4.55
Public Administration & Defence; Compulsory Social Security 8.90 8.96 8.96 8.92 9.67 Education 5.08 5.18 5.51 6.09 5.96
Public 2.29 2.30 2.29 2.27 2.46 Private 2.79 2.88 3.23 3.83 3.50
Health & Social Work 2.91 3.05 3.16 3.15 3.17 Public 2.41 2.55 2.67 2.64 2.67 Private 0.50 0.50 0.49 0.51 0.50
Other Community, Social & Personal Services 2.40 2.54 2.52 2.74 2.66 Public 0.14 0.14 0.14 0.14 0.15 Private 2.26 2.40 2.39 2.60 2.51
Private Households with Employed Persons 0.56 0.57 0.56 0.56 0.51 Less FISIM 3.30 3.48 3.05 2.33 1.81
TOTAL 100.00 100.00 100.00 100.00 100.00
Totals may not add up due to rounding
Page | 27
Table 3d: Percentage Contribution of GVA by Economic Activity in Current Prices, 2015-2019
(%)
Economic Activity 2015 2016 2017R 2018P 2019P
Agriculture 0.95 0.92 0.92 0.89 0.86
Crops 0.66 0.64 0.64 0.61 0.59 Livestock 0.27 0.26 0.26 0.25 0.24 Forestry 0.03 0.03 0.03 0.02 0.02
Fishing 0.88 0.85 1.07 1.03 0.99 Mining & Quarrying 0.89 0.92 1.00 1.03 1.09 Manufacturing 3.04 3.07 2.87 2.80 2.75 Electricity & Water Supply 4.78 5.10 4.40 4.16 4.03
Electricity 4.53 4.90 4.25 4.01 3.88 Water 0.25 0.20 0.15 0.15 0.15
Construction 9.95 11.04 13.25 15.24 17.04 Wholesale & Retail Trade 14.11 13.27 13.17 13.12 12.82 Hotels & Restaurants 12.05 12.36 11.73 11.58 11.33
Accommodation 8.62 8.78 8.04 7.94 7.75 Restaurants 3.43 3.58 3.69 3.65 3.58
Transport, Storage & Communication 11.92 12.04 11.81 11.83 11.80 Transport & Storage 8.05 8.06 8.09 8.28 8.37
Road Transport 4.37 4.18 4.18 4.19 4.21 Sea Transport 0.09 0.09 0.09 0.10 0.10 Air Transport 2.25 2.19 2.00 2.02 2.02 .Auxiliary Transport Activities & Storage 1.35 1.59 1.82 1.98 2.05 Communications 3.87 3.98 3.72 3.55 3.43
Financial Intermediation 7.58 7.41 7.43 7.23 7.14 Banks 5.32 5.54 5.54 5.41 5.37 Insurance 1.59 1.44 1.43 1.38 1.35 Offshore Banks &Trusts 0.49 0.32 0.35 0.33 0.32 Auxiliary 0.18 0.11 0.11 0.10 0.10
Real Estate, Renting & Business Activities 14.70 13.74 13.86 13.43 13.16 Owner Occupied Dwellings 7.85 7.37 7.36 7.06 6.87 Real Estate Activities 1.38 1.36 1.38 1.34 1.32 Renting of Machinery & Equipment 0.24 0.19 0.21 0.21 0.21 Computer & Related Services 0.04 0.03 0.04 0.04 0.03 Business Services 5.20 4.79 4.87 4.79 4.72
Public Administration & Defence; Compulsory Social Security 9.45 9.36 9.08 8.66 8.30 Education 5.30 5.81 5.51 5.29 5.12
Public 2.40 2.40 2.32 2.22 2.12 Private 2.90 3.41 3.19 3.07 3.00
Health & Social Work 3.19 3.16 3.09 2.95 2.83 Public 2.59 2.58 2.52 2.40 2.30 Private 0.60 0.58 0.57 0.54 0.53
Other Community, Social & Personal Services 2.56 2.36 2.27 2.19 2.13 Public 0.14 0.14 0.14 0.13 0.13 Private 2.41 2.21 2.13 2.05 2.01
Private Households with Employed Persons 0.39 0.33 0.29 0.26 0.24 Less FISIM 1.72 1.74 1.76 1.69 1.65
TOTAL 100.00 100.00 100.00 100.00 100.00
Totals may not add up due to rounding
Page | 28
Table 4a: Percentage Contribution of GVA by Economic Activity in Constant Prices, 2000-2004
(%)
Economic Activity 2000 2001 2002 2003 2004
Agriculture 0.88 0.89 0.83 0.87 0.86
Crops 0.50 0.54 0.54 0.53 0.52 Livestock 0.33 0.31 0.24 0.30 0.30 Forestry 0.04 0.04 0.04 0.04 0.04
Fishing 0.89 0.96 1.23 1.19 1.09 Mining & Quarrying 0.77 0.95 1.00 1.48 0.80 Manufacturing 1.94 2.11 2.22 2.12 2.15 Electricity & Water Supply 3.14 3.36 3.51 3.20 3.31
Electricity 2.23 2.51 2.57 2.40 2.39 Water 0.91 0.86 0.94 0.79 0.92
Construction 11.24 8.49 9.03 9.36 9.59 Wholesale & Retail Trade 16.24 17.53 17.30 16.25 16.07 Hotels & Restaurants 14.52 14.64 14.90 15.40 15.21
Accommodation 11.87 11.68 11.88 12.37 12.72 Restaurants 2.65 2.96 3.02 3.03 2.49
Transport, Storage & Communication 13.83 13.30 12.54 13.32 13.78 Transport & Storage 7.31 7.11 6.58 7.33 7.91
Road Transport 4.95 4.72 4.10 4.62 4.98 Sea Transport 0.05 0.05 0.04 0.03 0.03 Air Transport 1.69 1.71 1.75 1.75 1.87 Auxiliary Transport Activities & Storage 0.62 0.64 0.69 0.92 1.03 Communications 6.52 6.19 5.96 5.99 5.87
Financial Intermediation 6.74 7.71 8.71 8.33 8.85 Banks 5.18 5.90 6.80 6.44 6.47 Insurance 1.56 1.80 1.90 1.89 1.90 Offshore Banks & Trusts 0.00 0.00 0.00 0.00 0.28 Auxiliary 0.01 0.01 0.01 0.01 0.20
Real Estate, Renting & Business Activities 10.24 11.05 11.31 11.04 10.87 Owner Occupied Dwellings 7.28 7.77 7.88 7.58 7.44 Real Estate Activities 0.38 0.51 0.53 0.54 0.50 Renting of Machinery & Equipment 0.57 0.60 0.68 0.63 0.55 Computer & Related Services 0.05 0.06 0.08 0.06 0.08 Business Services 1.97 2.11 2.14 2.22 2.31
Public Administration & Defence; Compulsory Social Security 7.83 8.65 9.75 9.62 9.63 Education 2.79 3.08 3.27 3.22 3.26
Public 2.19 2.41 2.60 2.56 2.58 Private 0.60 0.66 0.68 0.66 0.68
Health & Social Work 3.69 4.17 3.49 3.38 3.33 Public 3.27 3.66 3.02 2.92 2.86 Private 0.42 0.51 0.48 0.46 0.47
Other Community, Social & Personal Services 6.77 4.81 2.72 3.00 2.84 Public 0.14 0.15 0.16 0.16 0.15 Private 6.63 4.66 2.56 2.84 2.69
Private Households with Employed Persons 0.36 0.39 0.38 0.37 0.40 Less FISIM 1.87 2.08 2.20 2.16 2.06
TOTAL 100.00 100.00 100.00 100.00 100.00
Totals may not add up due to rounding
Page | 29
Table 4b: Percentage Contribution of GVA by Economic Activity in Constant Prices, 2005-2009
(%)
Economic Activity 2005 2006 2007 2008 2009
Agriculture 0.77 0.75 0.68 0.69 0.77
Crops 0.50 0.45 0.42 0.41 0.49 Livestock 0.24 0.27 0.23 0.25 0.24 Forestry 0.04 0.03 0.03 0.03 0.04
Fishing 1.25 1.16 1.09 0.93 0.80 Mining & Quarrying 0.84 1.32 1.36 1.34 1.12 Manufacturing 2.09 2.10 2.14 1.92 2.38 Electricity & Water Supply 3.31 3.04 3.14 3.27 3.72
Electricity 2.32 2.20 2.25 2.33 2.67 Water 0.99 0.84 0.89 0.94 1.05
Construction 11.39 14.85 14.92 14.81 15.07 Wholesale & Retail Trade 16.42 16.06 17.25 17.85 14.67 Hotels & Restaurants 14.16 12.85 12.66 12.78 13.17
Accommodation 11.70 10.70 10.51 10.51 10.45 Restaurants 2.46 2.15 2.16 2.27 2.71
Transport, Storage & Communication 13.08 12.37 12.01 11.80 11.32 Transport & Storage 7.42 7.63 7.76 7.38 6.73
Road Transport 4.82 5.01 5.20 4.89 4.29 Sea Transport 0.03 0.05 0.07 0.07 0.08 Air Transport 1.67 1.57 1.46 1.42 1.40 Auxiliary Transport Activities & Storage 0.90 1.01 1.03 1.01 0.98 Communications 5.66 4.74 4.25 4.42 4.59
Financial Intermediation 8.58 9.25 9.47 9.75 9.91 Banks 6.30 7.05 7.22 7.51 7.23 Insurance 1.87 1.78 1.73 1.80 2.10 Offshore Banks & Trusts 0.24 0.26 0.28 0.29 0.37 Auxiliary 0.17 0.17 0.24 0.14 0.22
Real Estate, Renting & Business Activities 10.88 10.19 10.26 9.93 11.02 Owner Occupied Dwellings 7.05 6.41 6.11 6.14 7.01 Real Estate Activities 0.62 0.82 1.24 1.25 1.10 Renting of Machinery & Equipment 0.46 0.41 0.40 0.32 0.21 Computer & Related Services 0.08 0.07 0.07 0.08 0.06 Business Services 2.68 2.48 2.44 2.14 2.62
Public Administration & Defence; Compulsory Social Security 8.35 8.15 7.44 7.68 8.21 Education 4.36 4.57 4.96 4.63 5.11
Public 2.42 2.09 2.18 2.01 2.27 Private 1.95 2.48 2.79 2.62 2.83
Health & Social Work 2.98 2.50 2.54 2.37 2.71 Public 2.51 2.03 2.09 1.93 2.18 Private 0.47 0.46 0.45 0.44 0.53
Other Community, Social & Personal Services 3.09 2.42 2.05 1.99 2.08 Public 0.14 0.13 0.13 0.12 0.14 Private 2.95 2.30 1.92 1.87 1.94
Private Households with Employed Persons 0.45 0.45 0.44 0.39 0.53 Less FISIM 2.01 2.03 2.41 2.13 2.58
TOTAL 100.00 100.00 100.00 100.00 100.00
Totals may not add up due to rounding
Page | 30
Table 4c: Percentage Contribution of GVA by Economic Activity in Constant Prices, 2010-2014
(%)
Economic Activity 2010 2011 2012 2013 2014
Agriculture 0.93 1.01 0.94 0.90 0.88
Crops 0.55 0.58 0.58 0.60 0.59 Livestock 0.34 0.39 0.32 0.25 0.25 Forestry 0.04 0.04 0.04 0.04 0.04
Fishing 0.81 1.01 1.07 1.19 0.79 Mining & Quarrying 1.00 0.82 0.85 1.18 1.17 Manufacturing 2.38 2.50 2.06 2.38 2.36 Electricity & Water Supply 4.11 4.54 4.35 4.20 3.93
Electricity 3.13 3.48 3.28 3.15 3.07 Water 0.99 1.07 1.07 1.05 0.86
Construction 10.72 8.29 8.86 8.97 9.16 Wholesale & Retail Trade 14.89 14.03 14.49 13.93 14.19 Hotels & Restaurants 14.24 15.20 15.08 14.84 14.58
Accommodation 11.07 11.84 11.67 11.36 11.05 Restaurants 3.17 3.36 3.41 3.48 3.52
Transport, Storage & Communication 11.47 11.75 11.30 10.91 10.71 Transport & Storage 6.86 6.79 6.96 6.49 6.43
Road Transport 4.40 4.34 4.29 4.13 4.13 Sea Transport 0.07 0.07 0.07 0.08 0.08 Air Transport 1.48 1.50 1.46 1.38 1.34 Auxiliary Transport Activities & Storage 0.90 0.88 1.13 0.90 0.88 Communications 4.61 4.96 4.34 4.42 4.27
Financial Intermediation 10.27 10.58 10.13 9.36 8.99 Banks 7.47 7.58 7.33 6.67 6.51 Insurance 2.24 2.43 2.31 2.20 2.04 Offshore Banks & Trusts 0.31 0.32 0.31 0.28 0.29 Auxiliary 0.24 0.25 0.19 0.20 0.15
Real Estate, Renting & Business Activities 12.51 13.07 12.90 13.30 13.28 Owner Occupied Dwellings 7.96 8.29 8.20 8.17 7.93 Real Estate Activities 1.36 1.52 1.49 1.16 1.16 Renting of Machinery & Equipment 0.32 0.39 0.35 0.32 0.28 Computer & Related Services 0.07 0.07 0.07 0.06 0.05 Business Services 2.80 2.79 2.79 3.57 3.86
Public Administration & Defence; Compulsory Social Security 8.38 8.54 8.58 8.59 9.46 Education 5.01 5.16 5.54 6.08 6.07
Public 2.32 2.36 2.36 2.35 2.61 Private 2.69 2.79 3.18 3.73 3.46
Health & Social Work 2.99 3.15 3.24 3.22 3.31 Public 2.45 2.62 2.76 2.74 2.84 Private 0.54 0.53 0.48 0.48 0.48
Other Community, Social & Personal Services 2.47 2.63 2.69 2.85 2.79 Public 0.14 0.14 0.14 0.14 0.16 Private 2.33 2.49 2.55 2.71 2.63
Private Households with Employed Persons 0.57 0.57 0.55 0.54 0.50 Less FISIM 2.75 2.86 2.63 2.44 2.17
TOTAL 100.00 100.00 100.00 100.00 100.00
Totals may not add up due to rounding
Page | 31
Table 4d: Percentage Contribution of GVA by Economic Activity in Constant Prices, 2015-2019
(%)
Economic Activity 2015 2016 2017R 2018P 2019P
Agriculture 0.83 0.81 0.79 0.76 0.74
Crops 0.57 0.55 0.54 0.52 0.51 Livestock 0.23 0.23 0.22 0.21 0.21 Forestry 0.03 0.03 0.03 0.03 0.03
Fishing 0.83 0.83 1.02 0.99 0.96 Mining & Quarrying 1.01 1.07 1.17 1.22 1.29 Manufacturing 2.31 2.34 2.18 2.14 2.11 Electricity & Water Supply 4.05 3.88 3.76 3.62 3.55
Electricity 3.10 3.04 2.95 2.81 2.74 Water 0.95 0.84 0.81 0.81 0.81
Construction 9.18 10.31 12.19 13.80 15.16 Wholesale & Retail Trade 13.96 13.53 13.11 13.16 12.96 Hotels & Restaurants 14.36 14.56 13.70 13.61 13.37
Accommodation 10.85 10.85 9.94 9.89 9.74 Restaurants 3.52 3.71 3.76 3.71 3.64
Transport, Storage & Communication 10.84 10.60 10.44 10.38 10.31 Transport & Storage 6.45 6.14 6.19 6.29 6.32
Road Transport 4.04 3.90 3.74 3.74 3.75 Sea Transport 0.08 0.09 0.09 0.10 0.10 Air Transport 1.33 1.34 1.19 1.19 1.17 Auxiliary Transport Activities & Storage 1.00 0.82 1.16 1.26 1.30 Communications 4.39 4.46 4.25 4.09 3.98
Financial Intermediation 8.80 8.28 8.24 8.00 7.88 Banks 6.38 6.09 6.04 5.89 5.83 Insurance 1.98 1.85 1.84 1.76 1.72 Offshore Banks &Trusts 0.27 0.21 0.23 0.22 0.21 Auxiliary 0.17 0.13 0.13 0.12 0.12
Real Estate, Renting & Business Activities 14.35 14.18 14.00 13.54 13.28 Owner Occupied Dwellings 7.76 7.51 7.32 7.01 6.80 Real Estate Activities 1.66 1.74 1.65 1.60 1.58 Renting of Machinery & Equipment 0.25 0.20 0.21 0.21 0.22 Computer & Related Services 0.04 0.04 0.04 0.04 0.04 Business Services 4.64 4.69 4.78 4.68 4.65
Public Administration & Defence; Compulsory Social Security 9.52 8.96 9.32 9.05 8.90 Education 5.50 6.21 5.88 5.68 5.54
Public 2.61 2.68 2.60 2.52 2.46 Private 2.89 3.52 3.28 3.16 3.08
Health & Social Work 3.38 3.46 3.38 3.28 3.20 Public 2.81 2.89 2.81 2.73 2.66 Private 0.56 0.58 0.57 0.55 0.53
Other Community, Social & Personal Services 2.71 2.46 2.35 2.26 2.21 Public 0.16 0.16 0.16 0.15 0.15 Private 2.56 2.29 2.20 2.11 2.06
Private Households with Employed Persons 0.39 0.34 0.29 0.26 0.25 Less FISIM 2.01 1.82 1.82 1.75 1.70
TOTAL 100.00 100.00 100.00 100.00 100.00
Totals may not add up due to rounding
Page | 32
Table 5a: Rate of Growth of GVA by Economic Activity in Current Prices: 2000-2004
Economic Activity 2000 2001 2002 2003 2004
Agriculture (4.97) (7.65) 11.24 3.88
Crops 0.79 2.59 3.52 5.04 Livestock (12.70) (23.36) 28.01 2.60 Forestry 0.00 0.00 0.00 0.00
Fishing 1.01 26.71 2.36 (5.23) Mining & Quarrying 15.46 5.73 62.30 (41.22) Manufacturing 3.31 6.26 10.19 4.64 Electricity & Water Supply 27.51 (10.20) (18.34) 25.18
Electricity 26.47 (13.56) (15.71) 22.30 Water 37.84 20.22 (35.46) 49.73
Construction (26.08) 8.90 9.84 8.41 Wholesale & Retail Trade 1.57 1.46 1.44 4.73 Hotels & Restaurants (1.81) 2.00 11.66 10.73
Accommodation (3.50) 1.45 12.58 16.96 Restaurants 5.69 4.23 8.03 (14.82)
Transport, Storage & Communication (11.32) (0.94) 3.69 (4.36) Transport & Storage (13.79) (1.11) 6.36 (0.04)
Road Transport (9.96) (0.77) 20.26 4.74 Sea Transport (49.36) (49.36) (40.57) 160.35 Air Transport (26.30) (0.27) (13.46) (26.86) Auxiliary Transport Activities & Storage 6.46 (1.30) (8.92) 20.42 Communications (8.11) (0.75) 0.45 (9.91)
Financial Intermediation 0.78 12.99 (7.29) 19.20 Banks (5.08) 13.97 (10.49) 16.78 Insurance 22.57 10.20 2.20 3.33 Offshore Banks & Trusts 0.00 0.00 0.00 0.00 Auxiliary 5.26 5.26 5.26 1873.49
Real Estate, Renting & Business Activities 1.64 4.38 5.52 3.94 Owner Occupied Dwellings 0.37 4.32 3.89 3.94 Real Estate Activities 28.62 4.59 12.27 (1.69) Renting of Machinery & Equipment 0.03 13.44 0.80 (7.54) Computer & Related Services 59.02 2.01 (2.42) 18.87 Business Services 0.22 2.04 11.60 8.15
Public Administration & Defence; Compulsory Social Security 3.48 13.25 4.47 3.88 Education 3.32 7.47 4.06 5.58
Public 3.29 7.90 4.46 4.61 Private 3.45 5.79 2.47 9.59
Health & Social Work 5.85 (15.70) 2.94 2.60 Public 4.76 (17.28) 2.61 1.61 Private 14.68 (4.05) 5.03 8.76
Other Community, Social & Personal Services (35.74) (44.08) 20.64 8.27 Public 3.29 6.49 4.94 (1.80) Private (36.55) (45.79) 21.68 8.85
Private Households with Employed Persons 0.26 1.35 4.52 13.53 Less FISIM (7.21) 0.27 (3.95) 4.04
TOTAL (4.96) 1.10 4.88 5.50
Totals may not add up due to rounding
Page | 33
Table 5b: Rate of Growth of GVA by Economic Activity in Current Prices: 2005-2009
Economic Activity 2005 2006 2007 2008 2009
Agriculture (3.15) 10.07 3.30 8.82 1.30
Crops 5.34 4.04 4.03 7.14 9.21 Livestock (17.08) 23.83 2.48 12.52 (11.57) Forestry 0.00 0.00 0.00 2.22 0.00
Fishing 43.62 4.24 14.69 (4.24) (23.41) Mining & Quarrying 16.19 82.84 15.56 0.62 (24.87) Manufacturing 7.39 14.82 5.71 (2.17) 16.35 Electricity & Water Supply 8.32 6.54 (9.59) 48.78 (17.46)
Electricity 2.81 (7.00) (6.88) 83.97 (35.91) Water 46.65 72.53 (16.69) (54.59) 202.02
Construction 34.11 57.77 12.73 9.65 (8.77) Wholesale & Retail Trade 12.22 11.53 16.33 10.59 (27.17) Hotels & Restaurants (6.01) 2.64 0.65 0.60 (5.21)
Accommodation (9.23) 4.24 (1.10) (1.15) (8.64) Restaurants 12.14 (4.67) 9.36 8.49 8.88
Transport, Storage & Communication 24.26 (4.29) 23.30 2.40 (9.32) Transport & Storage 15.88 7.62 29.39 (0.79) (9.68)
Road Transport 3.98 16.34 12.59 3.94 (22.02) Sea Transport (9.15) 38.60 68.63 12.79 5.40 Air Transport 84.85 (15.94) 88.86 (7.61) 9.46 Auxiliary Transport Activities & Storage (4.90) 13.70 18.60 (7.12) 7.10 Communications 36.22 (18.75) 13.50 8.24 (8.72)
Financial Intermediation 14.89 22.04 14.65 (2.86) (2.39) Banks 18.25 27.67 14.97 (4.74) (6.11) Insurance 5.63 6.50 6.58 10.25 4.00 Offshore Banks &Trusts (5.78) 20.14 18.01 10.21 23.89 Auxiliary 44.72 (5.05) 81.96 (47.59) 39.67
Real Estate, Renting & Business Activities 8.81 7.82 10.35 3.31 (1.08) Owner Occupied Dwellings 4.00 3.69 3.31 7.37 1.24 Real Estate Activities 34.85 49.15 60.83 2.77 (21.46) Renting of Machinery & Equipment (8.46) 0.92 2.52 (16.83) (38.86) Computer & Related Services 7.53 (3.98) 16.94 20.43 (29.25) Business Services 22.92 10.65 12.94 (3.49) 8.95
Public Administration & Defence; Compulsory Social Security (0.10) 9.40 10.53 3.71 0.72 Education 55.31 17.45 16.56 5.56 (1.75)
Public 8.08 (3.01) 11.02 3.12 0.83 Private 240.83 42.92 21.24 7.46 (3.66)
Health & Social Work 2.59 (6.23) 8.86 2.56 1.82 Public 1.30 (9.36) 9.85 2.82 0.75 Private 10.11 10.53 4.48 1.34 6.80
Other Community, Social & Personal Services 14.29 (12.51) (8.23) 6.74 (5.01) Public 4.12 1.66 11.02 3.12 0.83 Private 14.82 (13.17) (9.29) 6.98 (5.38)
Private Households with Employed Persons 25.46 12.18 6.20 (5.35) 22.08 Less FISIM 21.27 17.30 46.16 (7.06) 0.26
TOTAL 12.33 12.45 10.84 5.83 (9.18)
Totals may not add up due to rounding
Page | 34
Table 5c: Rate of Growth of GVA by Economic Activity in Current Prices: 2010-2014
Economic Activity 2010 2011 2012 2013 2014
Agriculture 14.39 13.30 (3.96) 2.28 2.52
Crops 6.00 6.09 6.00 6.00 6.00 Livestock 33.22 26.21 (17.79) (4.03) -3.95 Forestry 0.00 0.00 0.00 0.00 0.00
Fishing (8.14) 21.51 11.31 6.66 -26.39 Mining & Quarrying (19.08) (19.30) 5.97 40.25 4.57 Manufacturing (2.17) 3.17 (2.46) 29.82 6.39 Electricity & Water Supply 24.37 15.85 (14.56) (3.00) 8.50
Electricity 42.74 25.27 (15.36) (5.22) 11.93 Water (22.00) (27.67) (8.14) 13.35 -12.66
Construction (34.59) (23.99) 15.57 5.02 10.88 Wholesale & Retail Trade (4.00) (4.81) 11.69 (2.65) 7.94 Hotels & Restaurants 0.12 4.91 3.36 0.14 3.24
Accommodation (2.42) 4.71 2.32 (1.52) 1.61 Restaurants 8.88 5.53 6.55 5.02 7.73
Transport, Storage & Communication (12.30) (4.22) 4.07 (5.75) 6.17 Transport & Storage (7.49) (2.60) 7.00 (10.18) 7.42
Road Transport (4.25) 2.80 5.17 (1.13) 6.10 Sea Transport (19.88) 8.05 (2.40) 9.80 8.56 Air Transport (11.85) (21.95) 5.26 (36.69) 14.34 Auxiliary Transport Activities & Storage (8.04) 21.71 16.47 (1.73) 5.17 Communications (20.30) (7.33) (1.88) (4.03) 3.78
Financial Intermediation 2.72 4.72 (0.82) (23.29) 0.43 Banks 5.28 6.48 (0.93) (29.69) -2.79 Insurance (4.97) 1.77 (0.33) (5.71) -5.96 Offshore Banks & Trusts (4.39) 4.96 3.28 (6.16) 97.03 Auxiliary 7.68 (26.25) (11.10) 24.21 -39.69
Real Estate, Renting & Business Activities 8.73 5.84 4.26 4.99 7.20 Owner Occupied Dwellings 7.38 5.28 5.43 2.55 2.61 Real Estate Activities 12.64 9.46 0.83 (21.17) 5.39 Renting of Machinery & Equipment 44.34 23.16 (6.11) (8.30) -6.97 Computer & Related Services 1.32 (5.62) (12.02) (13.47) -17.44 Business Services 8.21 4.41 4.23 22.77 18.54
Public Administration & Defence; Compulsory Social Security (6.64) (0.29) 5.54 (0.31) 16.11 Education (9.22) 0.92 12.45 10.64 4.81
Public (6.50) (0.61) 5.01 (0.72) 16.40 Private (11.35) 2.18 18.39 18.68 -2.04
Health & Social Work 1.33 3.62 9.59 (0.33) 7.81 Public 2.92 4.54 10.76 (1.23) 8.68 Private (5.68) (0.85) 3.64 4.56 3.39
Other Community, Social & Personal Services 5.18 4.87 4.85 8.67 3.96 Public (6.50) (0.61) 5.01 (0.72) 16.40 Private 5.98 5.21 4.85 9.21 3.31
Private Households with Employed Persons 1.52 0.99 2.77 0.40 -2.19 Less FISIM 17.66 4.35 (7.49) (23.43) -17.01
TOTAL (7.24) (1.04) 5.57 0.14 7.12
Totals may not add up due to rounding
Page | 35
Table 5d: Rate of Growth of GVA by Economic Activity in Current Prices: 2015-2019
Economic Activity 2015 2016 2017R 2018P 2019P
Agriculture 0.50 4.85 4.16 3.71 3.22
Crops 5.00 5.00 4.55 3.52 3.02 Livestock -9.06 5.00 3.53 4.55 4.04 Forestry 0.00 0.00 1.00 0.00 0.00
Fishing 8.41 5.00 30.32 4.03 2.51 Mining & Quarrying -10.90 11.45 14.10 11.10 12.11 Manufacturing 4.16 9.02 -2.84 5.56 4.55 Electricity & Water Supply 28.55 15.18 -10.22 2.18 3.13
Electricity 37.22 16.84 -9.76 2.01 3.02 Water -39.96 -14.77 -21.42 7.06 6.05
Construction 4.47 19.70 24.96 24.20 19.03 Wholesale & Retail Trade 2.80 1.49 3.33 7.56 4.03 Hotels & Restaurants 2.44 10.64 -1.20 6.66 4.19
Accommodation 1.38 9.93 -4.63 6.56 4.03 Restaurants 5.18 12.43 7.20 6.88 4.55
Transport, Storage & Communication 13.26 8.96 2.14 8.17 6.21 Transport & Storage 15.23 7.96 4.52 10.54 7.58
Road Transport 3.53 3.40 4.05 8.12 7.10 Sea Transport 10.80 6.11 7.57 16.15 7.06 Air Transport 68.81 5.24 -5.13 9.18 6.09 Auxiliary Transport Activities & Storage -0.77 27.32 18.90 17.30 10.16 Communications 9.37 11.05 -2.70 3.02 3.02
Financial Intermediation 7.92 5.42 4.38 5.13 5.15 Banks 13.78 12.27 4.10 5.57 5.57 Insurance 0.50 -1.90 3.38 4.04 4.04 Offshore Banks & Trusts -27.02 -30.43 15.55 3.02 3.02 Auxiliary 85.00 -34.15 -0.30 3.53 4.55
Real Estate, Renting & Business Activities 11.48 0.87 4.94 4.68 4.33 Owner Occupied Dwellings 2.26 1.30 4.01 3.58 3.58 Real Estate Activities 47.41 6.23 5.36 5.06 5.06 Renting of Machinery & Equipment -8.34 -11.62 10.06 8.45 8.63 Computer & Related Services 7.04 2.74 10.36 3.53 3.53 Business Services 21.38 -0.64 6.00 6.08 5.06
Public Administration & Defence; Compulsory Social Security 3.83 6.84 1.02 3.00 2.00 Education -5.56 18.35 -1.27 3.60 3.18
Public 3.58 7.92 0.78 3.00 2.00 Private -11.99 26.98 -2.72 4.04 4.04
Health & Social Work 6.85 7.16 1.48 3.10 2.28 Public 2.86 7.70 1.44 3.00 2.00 Private 28.34 4.84 1.70 3.53 3.53
Other Community, Social & Personal Services 2.20 -0.59 0.34 3.98 3.92 Public 3.58 7.92 0.78 3.00 2.00 Private 2.12 -1.10 0.31 4.04 4.04
Private Households with Employed Persons -18.11 -9.18 -9.77 -2.03 -0.01 Less FISIM 1.42 8.95 5.19 4.04 3.53
TOTAL 6.26 7.89 4.08 8.00 6.48
Totals may not add up due to rounding
Page | 36
Table 6a: Rate of Growth of GVA by Economic Activity in Constant Prices: 2000-2004
Economic Activity 2000 2001 2002 2003 2004
Agriculture (5.29) (6.70)
11.48 2.71
Crops (0.01) 1.28 3.82 1.01 Livestock (13.88) (21.59) 30.84 6.12 Forestry 0.00 0.00 0.00 0.00
Fishing 1.01 29.40 2.31 (5.36) Mining & Quarrying 15.46 5.73 56.05 (43.40) Manufacturing 1.88 5.31 1.47 4.81 Electricity & Water Supply 0.37 4.67 (3.44) 7.63
Electricity 5.21 2.78 (0.76) 3.35 Water (11.56) 10.23 (10.73) 20.62
Construction (29.26) 6.77 9.84 6.29 Wholesale & Retail Trade 1.10 (0.93) (0.54) 2.64 Hotels & Restaurants (5.56) 2.18 9.46 2.55
Accommodation (7.84) 2.15 10.25 6.75 Restaurants 4.63 2.32 6.37 (14.62)
Transport, Storage & Communication (9.95) (5.31) 12.45 7.42 Transport & Storage (8.88) (7.13) 17.90 12.09
Road Transport (10.69) (12.72) 19.29 11.91 Sea Transport (20.54) (20.50) (22.35) 25.45 Air Transport (5.31) 3.06 5.79 10.47 Auxiliary Transport Activities & Storage (3.13) 7.82 42.65 15.69 Communications (11.14) (3.21) 6.43 1.71
Financial Intermediation 7.03 13.52 1.27 10.31 Banks 6.73 15.70 0.22 4.32 Insurance 8.05 6.43 5.03 4.75
Offshore Banks & Trusts 0.00 0.00 0.00 0.00
Auxiliary 0.00 0.00 0.00 2215.77 Real Estate, Renting & Business Activities 1.13 2.68 3.41 2.24
Owner Occupied Dwellings 0.00 1.87 1.87 1.87 Real Estate Activities 27.57 3.14 9.15 (4.08) Renting of Machinery & Equipment (0.90) 14.01 (1.90) (10.05) Computer & Related Services 27.08 22.95 (17.33) 30.65 Business Services 0.22 1.71 10.17 7.75
Public Administration & Defence; Compulsory Social Security 3.48 13.25 4.47 3.88 Education 3.28 6.88 4.17 5.17
Public 3.29 7.90 4.46 4.61 Private 3.28 3.17 3.08 7.35
Health & Social Work 5.73 (15.82) 2.56 2.30 Public 4.76 (17.28) 2.61 1.61 Private 13.29 (5.31) 2.23 6.64
Other Community, Social & Personal Services (33.48) (43.19) 16.73 (1.66) Public 3.29 6.49 4.94 (1.80) Private (34.25) (44.84) 17.48 (1.65)
Private Households with Employed Persons (0.11) (1.04) 2.47 11.27 Less FISIM 4.22 6.28 3.47 (1.01)
TOTAL (6.34) 0.39 5.90 3.80
Totals may not add up due to rounding
Page | 37
Table 6b: Rate of Growth of GVA by Economic Activity in Constant Prices: 2005-2009
Economic Activity 2005 2006 2007 2008 2009
Agriculture (3.19) 8.30 (2.58) 2.98 (1.20)
Crops 3.27 1.69 (1.12) (0.07) 7.27 Livestock (14.62) 23.20 (5.38) 8.49 (15.22) Forestry 0.00 0.00 0.00 2.22 0.00
Fishing 23.54 4.09 0.12 (13.06) (23.63) Mining & Quarrying 12.03 76.53 9.55 0.29 (25.37) Manufacturing 4.87 12.24 9.14 (9.14) 10.61 Electricity & Water Supply 7.28 2.97 10.38 5.66 1.43
Electricity 4.19 6.35 9.32 5.02 2.23 Water 15.33 (4.99) 13.17 7.29 (0.58)
Construction 27.72 46.09 7.35 0.60 (9.23) Wholesale & Retail Trade 9.91 9.57 14.71 4.92 (26.64) Hotels & Restaurants 0.11 1.59 5.30 2.32 (8.06)
Accommodation (1.10) 2.45 4.89 1.46 (11.28) Restaurants 6.26 (2.45) 7.36 6.50 6.88
Transport, Storage & Communication 2.04 5.90 3.79 (0.39) (14.39) 0.81 15.16 8.76 (3.55) (18.64)
Road Transport 3.98 16.34 11.09 (4.74) (21.81) Sea Transport 2.12 73.26 53.10 2.82 (0.41) Air Transport (3.97) 5.29 (0.36) (1.55) (12.15) Auxiliary Transport Activities & Storage (5.92) 25.14 9.27 (0.82) (13.65) Communications 3.69 (6.23) (4.20) 5.38 (7.27)
Financial Intermediation 4.24 20.72 9.33 4.37 (9.27) Banks 4.72 25.36 9.42 5.49 (14.18) Insurance 5.63 6.50 4.04 5.36 4.00 Offshore Banks &Trusts (7.72) 18.03 16.36 4.63 14.73 Auxiliary (7.98) 9.11 51.40 (37.63) 33.23
Real Estate, Renting & Business Activities 7.60 4.87 7.60 (1.84) (1.04) Owner Occupied Dwellings 1.87 1.87 1.87 1.82 1.87 Real Estate Activities 32.44 49.16 60.69 2.33 (21.10) Renting of Machinery & Equipment (10.52) 0.82 3.30 (17.27) (41.63) Computer & Related Services 13.58 (7.61) 7.06 13.35 (23.81) Business Services 24.79 3.62 5.52 (11.13) 9.24
Public Administration & Defence; Compulsory Social Security (6.79) 9.40 (2.58) 4.71 (4.66) Education 43.77 17.33 16.05 (5.42) (1.60)
Public 0.79 (3.01) 11.02 (6.26) 0.83 Private 205.84 42.60 20.31 (4.76) (3.47)
Health & Social Work (3.82) (6.24) 8.84 (5.59) 2.00 Public (5.53) (9.36) 9.85 (6.53) 0.75 Private 6.49 10.41 4.41 (1.26) 7.46
Other Community, Social & Personal Services 16.97 (12.31) (9.64) (1.59) (6.77) Public (2.90) 1.66 11.02 (6.26) 0.83 Private 18.10 (12.96) (10.78) (1.27) (7.26)
Private Households with Employed Persons 22.89 10.20 4.72 (10.21) 22.97 Less FISIM 5.07 13.21 26.60 (10.31) 8.02
TOTAL 7.54 11.99 6.85 1.38 (10.77)
Totals may not add up due to rounding
Page | 38
Table 6c: Rate of Growth of GVA by Economic Activity in Constant Prices: 2010-2014
Economic Activity 2010 2011 2012 2013 2014
Agriculture 10.87 5.97 (4.08) (3.23) 2.88
Crops 1.97 2.22 4.01 5.31 2.26 Livestock 30.89 12.70 (16.33) (19.13) 4.77 Forestry 0.00 0.00 0.00 0.00 0.00
Fishing (7.15) 22.28 8.94 13.25 -30.22 Mining & Quarrying (18.56) (19.30) 6.26 40.46 4.67 Manufacturing (8.81) 2.77 (15.23) 17.59 3.88 Electricity & Water Supply 1.10 8.02 (1.41) (1.98) -1.82
Electricity 6.90 8.73 (2.81) (2.41) 2.19 Water (13.72) 5.78 3.15 (0.69) -13.93
Construction (34.92) (24.37) 10.06 2.83 7.08 Wholesale & Retail Trade (7.22) (7.89) 6.42 (2.31) 6.78 Hotels & Restaurants (1.13) 4.37 2.22 (0.01) 2.96
Accommodation (3.22) 4.59 1.54 (1.04) 1.98 Restaurants 6.89 3.60 4.60 3.50 6.14
Transport, Storage & Communication (7.37) 0.18 (0.98) (1.86) 2.86 Transport & Storage (6.85) (3.13) 5.45 (5.17) 3.89
Road Transport (6.01) (3.69) 1.89 (2.16) 4.82 Sea Transport (11.58) (0.28) (2.40) 9.80 8.56 Air Transport (3.32) (0.73) 0.47 (3.77) 1.83 Auxiliary Transport Activities & Storage (15.24) (4.52) 32.08 (19.37) 2.39 Communications (8.15) 5.10 (9.81) 3.46 1.35
Financial Intermediation (5.24) 0.70 (1.29) (6.21) 0.73 Banks (5.42) (0.86) (0.41) (7.51) 2.31 Insurance (2.32) 5.91 (2.03) (3.17) -2.75 Offshore Banks &Trusts (22.98) 2.08 (1.07) (7.14) 6.96 Auxiliary 2.53 (0.90) (21.29) 8.84 -22.63
Real Estate, Renting & Business Activities 3.84 2.19 1.66 4.70 4.70 Owner Occupied Dwellings 3.77 1.87 1.87 1.47 1.50 Real Estate Activities 12.75 9.46 0.83 (21.17) 5.39 Renting of Machinery & Equipment 37.59 20.85 (7.12) (8.71) -7.75 Computer & Related Services (0.26) 1.32 (5.62) (12.02) -13.47 Business Services (2.33) (2.55) 2.91 30.12 13.22
Public Administration & Defence; Compulsory Social Security (6.64) (0.29) 3.47 1.69 15.51 Education (10.24) 0.59 10.70 11.53 4.58
Public (6.50) (0.61) 2.95 1.26 16.40 Private (13.25) 1.63 17.25 19.14 -2.88
Health & Social Work 1.06 2.81 6.02 1.07 7.84 Public 2.93 4.54 8.59 0.74 8.68 Private (6.59) (5.01) (6.75) 2.97 3.10
Other Community, Social & Personal Services 8.57 4.18 5.43 7.75 2.59 Public (6.50) (0.61) 2.95 1.26 16.40 Private 9.63 4.46 5.57 8.11 1.87
Private Households with Employed Persons (1.89) (2.27) (0.71) (0.66) -3.24 Less FISIM (2.40) 1.37 (5.00) (5.84) -6.75
TOTAL (8.56) (2.22) 3.01 1.59 4.84
Totals may not add up due to rounding
Page | 39
Table 6d: Rate of Growth of GVA by Economic Activity in Constant Prices: 2015-2019
Economic Activity 2015 2016 2017R 2018P 2019P
Agriculture -2.28 3.00 1.44 2.40 1.92
Crops -0.27 2.38 1.50 2.50 2.00 Livestock -7.24 5.00 1.50 2.50 2.00 Forestry 0.00 0.00 0.00 0.00 0.00
Fishing 8.14 5.00 28.11 3.00 1.50 Mining & Quarrying -11.11 11.42 14.31 10.00 11.00 Manufacturing 1.52 6.32 -2.73 4.00 3.00 Electricity & Water Supply 6.93 0.53 0.94 2.08 2.67
Electricity 4.81 2.79 1.09 1.00 2.00 Water 14.48 -6.87 0.42 6.00 5.00
Construction 3.94 17.93 23.11 20.00 15.00 Wholesale & Retail Trade 2.07 1.73 0.88 6.50 3.00 Hotels & Restaurants 2.22 6.37 -1.96 5.30 2.86
Accommodation 1.79 4.95 -4.53 5.50 3.00 Restaurants 3.60 10.72 5.57 4.78 2.50
Transport, Storage & Communication 5.02 2.66 2.51 5.45 3.96 Transport & Storage 4.01 -0.01 4.85 7.82 5.24
Road Transport 1.30 1.37 0.02 6.00 5.00 Sea Transport 10.80 6.11 7.57 15.00 6.00 Air Transport 2.32 6.25 -7.52 6.00 3.00 Auxiliary Transport Activities & Storage 18.74 -14.37 47.84 15.00 8.00 Communications 6.56 6.60 -0.71 2.00 2.00
Financial Intermediation 1.50 -1.22 3.60 3.06 3.08 Banks 1.62 0.18 3.36 3.50 3.50 Insurance 0.50 -1.90 3.38 2.00 2.00 Offshore Banks &Trusts -4.63 -18.04 16.35 1.00 1.00 Auxiliary 22.25 -19.08 -2.25 1.50 2.50
Real Estate, Renting & Business Activities 12.09 3.77 2.76 2.63 2.30 Owner Occupied Dwellings 1.53 1.54 1.55 1.55 1.55 Real Estate Activities 48.17 10.01 -1.26 3.00 3.00 Renting of Machinery & Equipment -8.03 -13.46 7.42 6.32 6.50 Computer & Related Services -17.44 7.04 2.74 2.00 2.00 Business Services 24.73 6.15 6.00 4.00 3.00
Public Administration & Defence; Compulsory Social Security 4.37 -1.19 8.24 3.00 2.00 Education -5.99 18.44 -1.33 2.44 2.00
Public 3.58 7.92 0.78 3.00 2.00 Private -13.22 27.93 -2.93 2.00 2.00
Health & Social Work 5.76 7.60 1.70 2.83 2.00 Public 2.86 7.70 1.44 3.00 2.00 Private 23.10 7.14 3.02 2.00 2.00
Other Community, Social & Personal Services 0.82 -4.97 -0.18 2.07 2.00 Public 3.58 7.92 0.78 3.00 2.00 Private 0.65 -5.76 -0.25 2.00 2.00
Private Households with Employed Persons -18.69 -8.96 -11.91 -3.00 -1.00 Less FISIM -4.18 -4.80 4.27 2.00 1.50
TOTAL 3.74 4.96 4.14 6.06 4.52
Totals may not add up due to rounding
Page | 40
Table 7a: GVA Deflators by Economic Activity 2000-2004
ECONOMIC ACTIVITY 2000 2001 2002 2003 2004
Agriculture 98.12 98.45 97.44 97.24 98.36
Crops 90.52 91.24 92.42 92.15 95.82 Livestock 109.31 110.81 108.31 105.97 102.45 Forestry 100.00 100.00 100.00 100.00 100.00
Fishing 87.55 87.55 85.73 85.77 85.89 Mining & Quarrying 86.19 86.19 86.19 89.64 93.09 Manufacturing 86.20 87.41 88.19 95.77 95.62 Electricity & Water Supply 89.29 113.44 97.32 82.30 95.72
Electricity 114.05 137.09 115.30 97.93 115.89 Water 28.39 44.24 48.26 34.89 43.31
Construction 81.12 84.76 86.46 86.46 88.19 Wholesale & Retail Trade 89.88 90.29 92.47 94.31 96.22 Hotels & Restaurants 92.21 95.88 95.71 97.64 105.43
Accommodation 92.04 96.37 95.72 97.75 107.09 Restaurants 92.99 93.93 95.68 97.18 96.95
Transport, Storage & Communication 107.42 105.78 110.66 102.05 90.86 Transport & Storage 114.84 108.66 115.71 104.38 93.09 Road Transport 92.48 93.23 106.00 106.85 100.00 Sea Transport 217.90 138.88 88.47 67.71 140.52 Air Transport 159.53 124.17 120.16 98.29 65.08 Auxiliary Transport Activities & Storage 162.86 178.97 163.82 104.60 108.88 Communications 99.10 102.48 105.09 99.19 87.86
Financial Intermediation 96.80 91.15 90.73 83.06 89.75 Banks 99.28 88.29 86.97 77.68 86.96 Insurance 88.70 100.62 104.18 101.37 100.00 Offshore Banks & Trusts 0.00 0.00 0.00 0.00 96.22 Auxiliary 73.51 77.38 81.45 85.74 73.06
Real Estate, Renting & Business Activities 90.74 91.20 92.71 94.60 96.18 Owner Occupied Dwellings 89.96 90.29 92.47 94.31 96.22 Real Estate Activities 91.13 91.88 93.17 95.83 98.22 Renting of Machinery & Equipment 92.04 92.91 92.45 94.99 97.64 Computer & Related Services 91.14 114.04 94.62 111.69 101.63 Business Services 93.20 93.20 93.50 94.71 95.06
Public Administration & Defence; Compulsory Social Security 93.30 93.30 93.30 93.30 93.30 Education 91.67 91.70 92.21 92.11 92.48
Public 93.26 93.26 93.26 93.26 93.26 Private 85.89 86.03 88.21 87.69 89.53
Health & Social Work 92.87 92.98 93.11 93.46 93.73 Public 93.26 93.26 93.26 93.26 93.26 Private 89.89 90.99 92.20 94.72 96.60
Other Community, Social & Personal Services 94.81 91.59 90.15 93.17 102.58 Public 93.26 93.26 93.26 93.26 93.26 Private 94.84 91.54 89.96 93.17 103.11
Private Households with Employed Persons 89.95 90.29 92.46 94.31 96.22 Less FISIM 102.32 91.09 85.94 79.57 83.62
TOTAL 92.68 94.05 94.71 93.80 95.34
Page | 41
Table 7b: GVA Deflators by Economic Activity 2005-2009
Economic Activity 2005 2006 2007 2008 2009
Agriculture 98.39 100.00 106.04 112.05 114.88
Crops 97.74 100.00 105.21 112.80 114.84 Livestock 99.50 100.00 108.31 112.33 117.17 Forestry 100.00 100.00 100.00 100.00 100.00
Fishing 99.85 100.00 114.56 126.17 126.54 Mining & Quarrying 96.55 100.00 105.48 105.83 106.55 Manufacturing 97.91 100.00 96.85 104.27 109.68 Electricity & Water Supply 96.65 100.00 81.91 115.33 93.85
Electricity 114.36 100.00 85.18 149.21 93.55 Water 55.07 100.00 73.61 31.16 94.64
Construction 92.60 100.00 105.00 114.45 115.03 Wholesale & Retail Trade 98.24 100.00 101.42 106.90 106.13 Hotels & Restaurants 98.98 100.00 95.58 93.97 96.88
Accommodation 98.28 100.00 94.29 91.86 94.59 Restaurants 102.32 100.00 101.87 103.77 105.70
Transport, Storage & Communication 110.65 100.00 118.80 122.13 129.35 Transport & Storage 107.00 100.00 118.98 122.39 135.87 Road Transport 100.00 100.00 101.35 110.59 110.30 Sea Transport 125.01 100.00 110.15 120.82 127.87 Air Transport 125.27 100.00 189.55 177.87 221.62 Auxiliary Transport Activities & Storage 110.06 100.00 108.54 101.65 126.08 Communications 115.42 100.00 118.49 121.70 119.79
Financial Intermediation 98.92 100.00 104.86 97.60 105.00 Banks 98.19 100.00 105.07 94.88 103.80 Insurance 100.00 100.00 102.45 107.20 107.19 Offshore Banks & Trusts 98.24 100.00 101.42 106.82 115.36 Auxiliary 114.91 100.00 120.19 101.00 105.89
Real Estate, Renting & Business Activities 97.27 100.00 102.56 107.95 107.90 Owner Occupied Dwellings 98.24 100.00 101.42 106.90 106.24 Real Estate Activities 100.00 100.00 100.09 100.51 100.04 Renting of Machinery & Equipment 99.89 100.00 99.25 99.77 104.51 Computer & Related Services 96.22 100.00 109.23 116.06 107.76 Business Services 93.64 100.00 107.03 116.23 115.92
Public Administration & Defence; Compulsory Social Security 100.00 100.00 113.45 112.37 118.71 Education 99.90 100.00 100.43 112.10 111.93
Public 100.00 100.00 100.00 110.01 110.01 Private 99.77 100.00 100.77 113.70 113.47
Health & Social Work 99.98 100.00 100.01 108.65 108.45 Public 100.00 100.00 100.00 110.01 110.01 Private 99.89 100.00 100.06 102.70 102.07
Other Community, Social & Personal Services 100.23 100.00 101.56 110.16 112.25 Public 100.00 100.00 100.00 110.01 110.01 Private 100.25 100.00 101.67 110.17 112.40
Private Households with Employed Persons 98.24 100.00 101.41 106.89 106.12 Less FISIM 96.51 100.00 115.45 119.62 111.03
TOTAL 99.59 100.00 103.74 108.28 110.22
Page | 42
Table 7c: GVA Deflators by Economic Activity 2010-2014
Economic Activity 2010 2011 2012 2013 2014
Agriculture 118.53 126.73 126.89 134.11 133.65
Crops 119.38 123.90 126.28 127.10 131.75 Livestock 119.25 133.55 131.22 155.74 142.77 Forestry 100.00 100.00 100.00 100.00 100.00
Fishing 125.19 124.41 127.12 119.72 126.29 Mining & Quarrying 105.86 105.86 105.57 105.41 105.31 Manufacturing 117.67 118.13 135.93 150.07 153.70 Electricity & Water Supply 115.46 123.82 107.30 106.19 117.35
Electricity 124.91 143.90 125.31 121.70 133.29 Water 85.55 58.51 52.10 59.46 60.34
Construction 115.60 116.18 121.99 124.59 129.01 Wholesale & Retail Trade 109.81 113.48 119.10 118.70 119.99 Hotels & Restaurants 98.12 98.63 99.73 99.87 100.15
Accommodation 95.37 95.48 96.21 95.74 95.39 Restaurants 107.67 109.68 111.73 113.37 115.07
Transport, Storage & Communication 122.47 117.09 123.07 118.18 121.99 Transport & Storage 134.93 135.66 137.65 130.39 134.82 Road Transport 112.36 119.93 123.79 125.08 126.61 Sea Transport 115.86 125.55 125.55 125.55 125.55 Air Transport 202.08 158.89 166.47 109.52 122.98 Auxiliary Transport Activities & Storage 136.78 174.37 153.76 187.41 192.51 Communications 103.94 91.65 99.71 100.26 102.66
Financial Intermediation 113.81 118.36 118.92 97.27 96.98 Banks 115.54 124.09 123.44 93.84 89.16 Insurance 104.29 100.21 101.95 99.28 96.00 Offshore Banks and Trusts 143.20 147.23 153.71 155.34 286.17 Auxiliary 111.20 82.75 93.47 106.67 83.14
Real Estate, Renting & Business Activities 112.98 117.02 120.01 120.35 123.22 Owner Occupied Dwellings 109.92 113.60 117.57 118.82 120.11 Real Estate Activities 99.95 99.95 99.95 99.95 99.95 Renting of Machinery & Equipment 109.64 111.74 112.96 113.46 114.43 Computer & Related Services 109.47 101.97 95.06 93.49 89.20 Business Services 128.44 137.62 139.38 131.51 137.69
Public Administration & Defence; Compulsory Social Security 118.71 118.71 121.09 118.71 119.33 Education 113.20 113.58 115.38 114.46 114.72
Public 110.01 110.01 112.21 110.01 110.01 Private 115.97 116.60 117.73 117.27 118.28
Health & Social Work 108.75 109.60 113.29 111.72 111.70 Public 110.00 110.01 112.21 110.01 110.01 Private 103.07 107.59 119.59 121.44 121.78
Other Community, Social & Personal Services 108.73 109.46 108.86 109.80 111.26 Public 110.01 110.01 112.21 110.01 110.01 Private 108.66 109.43 108.68 109.79 111.33
Private Households with Employed Persons 109.81 113.48 117.45 118.69 119.98 Less FISIM 133.85 137.79 134.17 109.11 97.11
TOTAL 111.81 113.15 115.95 114.30 116.78
Page | 43
Table 7d: GVA Deflators by Economic Activity 2015-2019
Economic Activity 2015 2016 2017R 2018P 2019P
Agriculture 137.44 139.91 143.66 145.50 147.36
Crops 138.72 142.27 146.54 148.00 149.48 Livestock 139.96 139.96 142.76 145.62 148.53 Forestry 100.00 100.00 101.00 101.00 101.00
Fishing 126.61 126.61 128.79 130.08 131.38 Mining & Quarrying 105.55 105.58 105.39 106.45 107.51 Manufacturing 157.71 161.72 161.53 163.96 166.42 Electricity & Water Supply 141.08 161.64 143.76 143.91 144.55
Electricity 174.49 198.34 177.05 178.82 180.61 Water 31.64 28.96 22.66 22.88 23.11
Construction 129.67 131.62 133.59 138.27 143.11 Wholesale & Retail Trade 120.85 120.56 123.48 124.72 125.97 Hotels & Restaurants 100.36 104.39 105.19 106.55 107.92
Accommodation 95.02 99.52 99.42 100.41 101.42 Restaurants 116.83 118.63 120.47 122.88 125.33
Transport, Storage & Communication 131.55 139.62 139.11 142.69 145.78 Transport & Storage 149.36 161.27 160.77 164.82 168.49 Road Transport 129.40 132.00 137.32 140.06 142.86 Sea Transport 125.55 125.55 125.55 126.81 128.08 Air Transport 202.89 200.96 206.17 212.35 218.72 Auxiliary Transport Activities & Storage 160.88 239.19 192.37 196.22 200.14 Communications 105.38 109.77 107.58 108.65 109.74
Financial Intermediation 103.11 110.05 110.88 113.09 115.36 Banks 99.84 111.89 112.69 114.94 117.24 Insurance 96.00 96.00 96.00 97.92 99.87 Offshore Banks & Trusts 218.99 185.89 184.61 188.30 192.07 Auxiliary 125.81 102.38 104.42 106.51 108.64
Real Estate, Renting & Business Activities 122.56 119.14 121.66 124.09 126.55 Owner Occupied Dwellings 120.98 120.68 123.61 126.08 128.60 Real Estate Activities 99.44 96.02 102.47 104.52 106.61 Renting of Machinery & Equipment 114.04 116.47 119.33 121.72 124.15 Computer & Related Services 115.65 111.01 119.24 121.03 122.85 Business Services 134.00 125.43 125.43 127.94 130.50
Public Administration & Defence; Compulsory Social Security 118.71 128.35 119.79 119.79 119.79 Education 115.24 115.15 115.21 116.51 117.87
Public 110.01 110.01 110.01 110.01 110.01 Private 119.96 119.06 119.32 121.71 124.14
Health & Social Work 112.84 112.37 112.14 112.43 112.74 Public 110.01 110.01 110.01 110.01 110.01 Private 126.96 124.24 122.64 124.48 126.35
Other Community, Social & Personal Services 112.79 117.99 118.60 120.82 123.09 Public 110.01 110.01 110.01 110.01 110.01 Private 112.96 118.55 119.21 121.60 124.03
Private Households with Employed Persons 120.85 120.55 123.48 124.71 125.96 Less FISIM 102.78 117.63 118.68 121.05 123.47
122.97 122.90 125.15 127.49
TOTAL 119.62 139.91 143.66 145.50 147.36
Page | 44
Table 8a: GVA Consumption in Current Basic Prices, 2000 And 2001 All Figures in EC$M
Economic Activity
2000 2001
Gross Output
Intermediate Consumption
Gross Value Added
Gross Output
Intermediate Consumption
Gross Value Added
Agriculture 25.47 6.72 18.75 24.14 6.32 17.82 Crops 13.37 3.47 9.90 13.47 3.49 9.98 Livestock 10.35 2.40 7.95 8.91 1.97 6.94 Forestry 1.76 0.86 0.90 1.76 0.86 0.90 Fishing 24.11 7.23 16.88 24.35 7.31 17.05 Mining & Quarrying 21.26 6.80 14.46 24.54 7.85 16.69 Manufacturing 98.19 61.79 36.40 100.94 63.33 37.61 Electricity & Water Supply 244.43 183.54 60.89 269.48 191.84 77.64 Electricity 204.16 148.87 55.29 227.31 157.39 69.93 Water 40.26 34.67 5.60 42.16 34.45 7.71 Construction 492.21 294.03 198.18 363.82 217.34 146.49 Wholesale & Retail Trade 447.22 129.97 317.25 453.84 131.61 322.23 Hotels & Restaurants 714.45 423.46 291.00 687.97 402.23 285.74 Accommodation 557.28 319.88 237.40 521.85 292.76 229.09 Restaurants 157.17 103.58 53.60 166.11 109.47 56.65 Transport, Storage & Communication 602.09 279.13 322.96 527.93 241.54 286.38 Road Transport 153.06 53.57 99.49 137.79 48.23 89.56 Sea Transport 5.82 3.30 2.52 4.67 3.39 1.28 Air Transport 116.74 58.11 58.63 87.64 44.43 43.21 Auxiliary Transport Activities 37.43 15.56 21.87 38.38 15.10 23.28 Communications 289.04 148.59 140.45 259.45 130.40 129.06 Financial Intermediation 203.78 61.90 141.89 203.64 60.65 142.99 Banks & Other Financial Institutions 152.28 40.53 111.74 147.99 41.92 106.07 Insurance 51.20 21.20 30.00 55.32 18.55 36.77 Offshore Banks & Trusts - - - - - - Auxiliary 0.31 0.17 0.14 0.32 0.18 0.15 Real Estate, Renting & Business Activities 310.98 109.06 201.92 317.73 112.49 205.23 Owner Occupied Dwellings 203.27 60.98 142.29 204.03 61.21 142.82 Real Estate Activities 16.17 8.72 7.46 20.80 11.21 9.59 Renting of Machinery & Equipment 23.01 11.67 11.35 23.02 11.67 11.35 Computer & Related Services 2.03 1.10 0.94 3.23 1.74 1.49 Business Services 66.50 26.60 39.90 66.64 26.66 39.99 Public Administration & Defence; Compulsory Social Security 247.57 88.85 158.72 277.50 113.25 164.25 Education 61.15 5.57 55.58 63.35 5.93 57.42 Public 45.15 0.77 44.38 46.81 0.97 45.84 Private 15.99 4.80 11.20 16.55 4.96 11.58 Health & Social Work 96.27 21.75 74.52 104.49 25.61 78.88 Public 80.80 14.48 66.33 86.76 17.27 69.48 Private 15.46 7.27 8.20 17.73 8.33 9.40 Other Community, Social & Personal Services 163.47 23.88 139.60 128.03 38.32 89.71 Public 3.00 0.16 2.83 3.13 0.20 2.93 Private 160.47 23.71 136.76 124.89 38.11 86.78 Private Households with Employed Persons 7.11 - 7.11 7.13 - 7.13
Less FISIM 41.61 38.61
TOTAL 3,759.76 1,745.28 2,014.48
3,578.87 1,664.23 1,914.64
Page | 45
Table 8b: GVA Consumption in Current Basic Prices, 2002 And 2003 All Figures in EC$M
Economic Activity
2002 2003
Gross Output
Intermediate Consumption
Gross Value Added
Gross Output
Intermediate Consumption
Gross Value Added
Agriculture 22.47 6.01 16.46 25.00 6.70 18.31 Crops 13.82 3.58 10.24 14.30 3.71 10.60 Livestock 6.89 1.57 5.32 8.94 2.13 6.81 Forestry 1.76 0.86 0.90 1.76 0.86 0.90 Fishing 30.86 9.26 21.60 31.59 9.48 22.11 Mining & Quarrying 25.95 8.30 17.65 42.12 13.48 28.64 Manufacturing 109.30 69.34 39.96 117.46 73.43 44.04 Electricity & Water Supply 275.07 205.35 69.72 274.59 215.63 58.96 Electricity 230.76 170.31 60.45 232.86 179.89 52.98 Water 44.31 35.04 9.27 41.72 35.74 5.98 Construction 396.22 236.69 159.53 435.22 259.99 175.23 Wholesale & Retail Trade 460.47 133.54 326.93 467.09 135.46 331.64 Hotels & Restaurants 698.27 406.81 291.46 762.69 437.24 325.45 Accommodation 525.13 292.70 232.42 575.08 313.42 261.66 Restaurants 173.14 114.10 59.04 187.61 123.82 63.79 Transport, Storage & Communication 522.38 238.68 283.69 579.63 285.46 294.17 Road Transport 136.75 47.86 88.89 164.46 57.56 106.90 Sea Transport 3.74 3.10 0.65 2.93 2.54 0.38 Air Transport 87.39 44.30 43.09 99.25 61.96 37.29 Auxiliary Transport Activities 38.95 15.97 22.98 41.66 20.74 20.93 Communications 255.54 127.45 128.09 271.34 142.67 128.67 Financial Intermediation 227.64 66.08 161.57 222.20 72.41 149.79 Banks & Other Financial Institutions 165.24 44.35 120.89 156.41 48.19 108.21 Insurance 62.06 21.54 40.52 65.43 24.02 41.41 Offshore Banks & Trusts - - - - - - Auxiliary 0.34 0.18 0.16 0.36 0.19 0.17 Real Estate, Renting & Business Activities 332.01 117.80 214.21
350.98
124.94
226.04
Owner Occupied Dwellings 212.84 63.85 148.99 221.13 66.34 154.79 Real Estate Activities 21.76 11.73 10.03 24.43 13.17 11.26 Renting of Machinery & Equipment 26.11 13.24 12.87 26.32 13.35 12.98 Computer & Related Services 3.30 1.78 1.52 3.22 1.73 1.48 Business Services 68.00 27.20 40.80 75.89 30.35 45.53 Public Administration & Defence; Compulsory Social Security 360.25 174.24 186.01
290.12
95.79
194.33
Education 67.74 6.02 61.71 70.39 6.17 64.22 Public 50.23 0.77 49.46 52.46 0.79 51.67 Private 17.50 5.25 12.25 17.94 5.38 12.55 Health & Social Work 87.24 20.75 66.50 92.97 24.52 68.45 Public 70.23 12.75 57.48 75.10 16.12 58.98 Private 17.01 8.00 9.02 17.87 8.40 9.47 Other Community, Social & Personal Services 85.45 35.28 50.16
89.64
29.12
60.52
Public 3.42 0.30 3.12 3.55 0.28 3.27 Private 82.03 34.98 47.04 86.08 28.84 57.24 Private Households with Employed Persons 7.22 - 7.22
7.55
-
7.55
Less FISIM 38.71
37.18
TOTAL 3,708.53 1,772.85 1,935.68
3,859.23 1,826.98 2,032.25
Page | 46
Table 8c: GVA Consumption in Current Basic Prices, 2004 And 2005 All Figures in EC$M
Economic Activity
2004 2005
Gross Output
Intermediate Consumption
Gross Value Added
Gross Output
Intermediate Consumption
Gross Value Added
Agriculture 25.92 6.90 19.02 25.01 6.59 18.42 Crops 15.03 3.90 11.13 15.83 4.10 11.72 Livestock 9.14 2.15 6.99 7.43 1.63 5.79 Forestry 1.76 0.86 0.90 1.76 0.86 0.90 Fishing 29.94 8.98 20.96 43.00 12.90 30.10 Mining & Quarrying 24.76 7.92 16.83 28.76 9.20 19.56 Manufacturing 120.46 74.38 46.08 127.96 78.48 49.48 Electricity & Water Supply 260.93 189.65 71.27 253.26 176.06 77.20 Electricity 220.53 158.22 62.31 208.47 144.41 64.06 Water 40.40 31.44 8.96 44.79 31.65 13.14 Construction 471.83 281.86 189.97 632.75 377.99 254.76 Wholesale & Retail Trade 489.17 141.86 347.31 548.93 159.19 389.74 Hotels & Restaurants 810.18 449.81 360.37 770.18 431.46 338.72 Accommodation 647.01 340.97 306.04 593.55 315.77 277.78 Restaurants 163.17 108.83 54.34 176.62 115.69 60.93 Transport, Storage & Communication 594.14 312.78 281.36 640.45 290.84 349.61 Road Transport 172.25 60.29 111.96 179.10 62.68 116.41 Sea Transport 3.67 2.67 1.00 3.75 2.84 0.91 Air Transport 96.90 69.62 27.27 123.66 73.25 50.42 Auxiliary Transport Activities 45.74 20.54 25.20 47.92 23.95 23.97 Communications 275.59 159.66 115.92 286.02 128.12 157.91 Financial Intermediation 267.42 88.88 178.54 299.04 93.92 205.12 Banks & Other Financial Institutions 170.58 44.20 126.37 199.80 50.37 149.43 Insurance 69.94 27.15 42.79 73.88 28.68 45.20 Offshore Banks & Trusts 20.25 14.15 6.10 19.08 13.33 5.75 Auxiliary 6.66 3.39 3.27 6.28 1.54 4.74 Real Estate, Renting & Business Activities 364.08 129.12 234.96 398.69 143.03 255.66 Owner Occupied Dwellings 229.83 68.95 160.88 239.03 71.71 167.32 Real Estate Activities 24.01 12.94 11.07 32.38 17.45 14.93 Renting of Machinery & Equipment 24.34 12.34 12.00 22.28 11.30 10.98 Computer & Related Services 3.82 2.06 1.76 4.11 2.22 1.90 Business Services 82.07 32.83 49.24 100.89 40.36 60.53 Public Administration & Defence; Compulsory Social Security 314.56 112.68 201.88 303.38 101.69 201.69 Education 74.38 6.57 67.81 115.79 10.48 105.31 Public 54.91 0.86 54.05 59.12 0.71 58.41 Private 19.47 5.71 13.76 56.66 9.77 46.90 Health & Social Work 95.26 25.03 70.23 101.88 29.83 72.05 Public 75.82 15.90 59.93 80.48 19.77 60.71 Private 19.43 9.13 10.30 21.40 10.06 11.34 Other Community, Social & Personal Services 104.90 39.38 65.52 117.27 42.39 74.88 Public 3.53 0.32 3.21 3.74 0.40 3.35 Private 101.37 39.07 62.31 113.53 41.99 71.54 Private Households with Employed Persons 8.57 - 8.57 10.75 - 10.75
Less FISIM 38.68 46.91
TOTAL 4,056.50 1,914.51 2,141.99 4,417.09 2,010.95 2,406.15
Page | 47
Table 8d: GVA Consumption in Current Basic Prices, 2006 And 2007 All Figures in EC$M
Economic Activity
2006 2007
Gross Output
Intermediate Consumption
Gross Value Added
Gross Output
Intermediate Consumption
Gross Value Added
Agriculture 27.58 7.31 20.27 28.44 7.50 20.94 Crops 16.47 4.27 12.20 17.13 4.44 12.69 Livestock 9.36 2.19 7.17 9.56 2.20 7.35 Forestry 1.76 0.86 0.90 1.76 0.86 0.90 Fishing 44.82 13.45 31.37 51.40 15.42 35.98 Mining & Quarrying 52.59 16.83 35.76 60.77 19.45 41.32 Manufacturing 148.49 91.67 56.82 166.94 106.88 60.06 Electricity & Water Supply 273.23 190.98 82.25 308.18 233.82 74.36 Electricity 222.25 162.67 59.58 254.76 199.29 55.48 Water 50.99 28.31 22.67 53.42 34.53 18.89 Construction 998.27 596.34 401.93 1,125.30 672.23 453.08 Wholesale & Retail Trade 612.22 177.54 434.67 712.22 206.54 505.67 Hotels & Restaurants 802.24 454.60 347.64 811.79 461.89 349.90 Accommodation 626.74 337.19 289.55 619.85 333.48 286.37 Restaurants 175.50 117.41 58.09 191.94 128.41 63.53 Transport, Storage & Communication 668.14 333.52 334.62 747.53 334.94 412.58 Road Transport 208.37 72.93 135.44 234.60 82.11 152.49 Sea Transport 6.49 5.23 1.26 9.94 7.82 2.12 Air Transport 133.58 91.20 42.38 183.58 103.54 80.04 Auxiliary Transport Activities 50.98 23.73 27.25 60.91 28.59 32.32 Communications 268.71 140.42 128.29 258.50 112.88 145.62 Financial Intermediation 367.07 116.74 250.32 434.66 147.68 286.98 Banks & Other Financial Institutions 258.49 67.71 190.78 315.09 95.75 219.34 Insurance 78.68 30.54 48.14 81.86 30.55 51.31 Offshore Banks & Trusts 22.92 16.01 6.91 27.05 18.90 8.15 Auxiliary 6.98 2.48 4.50 10.66 2.48 8.18 Real Estate, Renting & Business Activities 434.21 158.57 275.64
487.47 183.29 304.18
Owner Occupied Dwellings 247.84 74.35 173.49 256.04 76.81 179.23 Real Estate Activities 48.30 26.03 22.27 77.68 41.87 35.81 Renting of Machinery & Equipment 22.48 11.40 11.08 23.05 11.69 11.36 Computer & Related Services 3.95 2.13 1.82 4.62 2.49 2.13 Business Services 111.64 44.65 66.98 126.08 50.43 75.65 Public Administration & Defence; Compulsory Social Security 318.78 98.13 220.65
370.23 126.35 243.88
Education 136.87 13.18 123.68 159.59 15.43 144.16 Public 57.65 0.99 56.66 64.17 1.26 62.91 Private 79.22 12.20 67.02 95.42 14.17 81.26 Health & Social Work 98.31 30.74 67.56 110.05 36.50 73.55 Public 74.65 19.63 55.03 85.34 24.89 60.45 Private 23.65 11.12 12.54 24.71 11.62 13.10 Other Community, Social & Personal Services 109.37 43.86 65.52 104.31 44.19 60.12 Public 3.83 0.43 3.40 4.33 0.55 3.78 Private 105.54 43.43 62.11 99.98 43.64 56.35 Private Households with Employed Persons 12.06 - 12.06
12.81 - 12.81
Less FISIM 55.02
80.42
TOTAL 5,104.25 2,398.49 2,705.76 5,691.69 2,692.51 2,999.17
Page | 48
Table 8e: GVA Consumption in Current Basic Prices, 2008 And 2009 All Figures in EC$M
Economic Activity
2008 2009
Gross Output
Intermediate Consumption
Gross Value Added
Gross Output
Intermediate Consumption
Gross Value Added
Agriculture 31.07 8.28 22.79 31.58 8.49 23.08
Crops 18.35 4.76 13.60 20.05 5.20 14.85 Livestock 10.92 2.65 8.27 9.74 2.42 7.31 Forestry 1.79 0.87 0.92 1.79 0.87 0.92
Fishing 49.22 14.77 34.46 37.70 11.31 26.39 Mining & Quarrying 61.15 19.57 41.58 45.94 14.70 31.24 Manufacturing 154.18 95.42 58.76 171.07 102.70 68.36 Electricity & Water Supply 395.60 285.34 110.27 329.97 237.40 92.57
Electricity 339.79 237.73 102.06 271.13 204.47 66.66 Water 55.81 47.61 8.21 58.83 32.93 25.91
Construction 1,233.95 737.13 496.82 1,125.72 672.47 453.25 Wholesale & Retail Trade 787.67 228.42 559.25 750.41 217.62 532.79 Hotels & Restaurants 820.96 468.96 352.01 786.51 452.84 333.67
Accommodation 612.73 329.65 283.08 559.80 301.17 258.63 Restaurants 208.23 139.31 68.92 226.71 151.67 75.04
Transport, Storage & Communication 830.85 408.87 421.98 753.66 370.56 383.09 Road Transport 243.10 85.08 158.01 190.17 66.56 123.61 Sea Transport 10.22 7.82 2.40 10.18 7.65 2.53 Air Transport 255.51 181.57 73.94 242.99 162.04 80.94 Auxiliary Transport Activities 51.18 21.16 30.02 59.23 27.08 32.15 Communications 270.84 113.23 157.61 251.08 107.22 143.86
Financial Intermediation 467.05 188.27 278.78 409.71 137.59 272.12 Banks & Other Financial Institutions 343.93 134.99 208.93 281.22 85.05 196.17 Insurance 86.25 29.68 56.57 89.70 30.87 58.83 Offshore Banks & Trusts 29.81 20.83 8.98 29.45 18.32 11.13 Auxiliary 7.06 2.77 4.29 9.33 3.34 5.99
Real Estate, Renting & Business Activities 501.15 186.89 314.26 489.24 178.38 310.86
Owner Occupied Dwellings 274.92 82.47 192.44 278.33 83.50 194.83 Real Estate Activities 79.83 43.03 36.80 62.70 33.79 28.90 Renting of Machinery & Equipment 19.17 9.72 9.45 11.72 5.94 5.78 Computer & Related Services 5.56 3.00 2.56 3.93 2.12 1.81 Business Services 121.67 48.67 73.00 132.56 53.03 79.54
Public Administration & Defence; Compulsory Social Security 460.05 207.12 252.93 445.92 191.16 254.75 Education 179.65 27.46 152.19 175.86 26.33 149.53
Public 66.94 2.07 64.87 67.33 1.92 65.41 Private 112.71 25.39 87.32 108.53 24.41 84.12
Health & Social Work 127.82 52.39 75.43 127.47 50.67 76.80 Public 102.77 40.62 62.15 100.72 38.10 62.62 Private 25.05 11.77 13.27 26.75 12.57 14.18
Other Community, Social & Personal Services 104.23 40.05 64.17 103.03 42.07 60.96
Public 4.80 0.91 3.89 4.77 0.84 3.93 Private 99.43 39.15 60.28 98.26 41.23 57.04
Private Households with Employed Persons 12.12 - 12.12 14.80 - 14.80
Less FISIM 74.74 74.93
TOTAL 6,216.72 3,043.67 3,173.04
5,798.57 2,789.24 3,009.33
Page | 49
Table 8f: GVA Consumption in Current Basic Prices, 2010 And 2011 All Figures in EC$M
Economic Activity
2010 2011
Gross Output
Intermediate Consumption
Gross Value Added
Gross Output
Intermediate Consumption
Gross Value Added
Agriculture 36.11 9.71 26.40 41.03 11.12 29.92
Crops 21.25 5.51 15.74 22.54 5.84 16.70 Livestock 13.07 3.32 9.74 16.70 4.40 12.30 Forestry 1.79 0.87 0.92 1.79 0.87 0.92
Fishing 34.66 10.40 24.26 42.08 12.62 29.46 Mining & Quarrying 37.18 11.90 25.28 30.00 9.60 20.40 Manufacturing 159.25 92.37 66.88 172.45 103.44 69.00 Electricity & Water Supply 379.28 265.34 113.94 416.42 284.84 131.58
Electricity 326.46 233.11 93.35 360.44 243.48 116.96 Water 52.82 32.23 20.59 55.98 41.36 14.62
Construction 736.33 439.86 296.47 559.70 334.35 225.35 Wholesale & Retail Trade 550.71 159.71 391.00 524.24 152.03 372.21 Hotels & Restaurants 793.12 459.04 334.08 832.51 482.02 350.49
Accommodation 546.27 293.89 252.38 572.00 307.74 264.26 Restaurants 246.85 165.14 81.71 260.51 174.28 86.23
Transport, Storage & Communication 717.21 381.24 335.97 732.71 410.92 321.79 Road Transport 182.09 63.73 118.36 187.19 65.52 121.67 Sea Transport 9.00 6.98 2.02 8.97 6.79 2.19 Air Transport 240.24 168.89 71.35 225.90 170.21 55.69 Auxiliary Transport Activities 54.44 24.87 29.57 66.45 30.46 35.99 Communications 231.45 116.78 114.67 244.20 137.94 106.26
Financial Intermediation 447.66 168.14 279.52 486.52 193.80 292.72 Banks & Other Financial Institutions 305.54 99.02 206.52 314.96 95.06 219.90 Insurance 87.62 31.71 55.91 98.37 41.48 56.89 Offshore Banks & Trusts 44.60 33.96 10.64 63.05 51.88 11.17 Auxiliary 9.89 3.45 6.45 10.14 5.39 4.76
Real Estate, Renting & Business Activities 533.83 195.83 338.01 566.31 208.56 357.75
Owner Occupied Dwellings 298.86 89.66 209.20 314.62 94.39 220.24 Real Estate Activities 70.62 38.06 32.56 77.30 41.66 35.64 Renting of Machinery & Equipment 16.92 8.58 8.34 20.84 10.57 10.27 Computer & Related Services 3.99 2.15 1.84 3.76 2.03 1.73 Business Services 143.45 57.38 86.07 149.78 59.91 89.87
Public Administration & Defence; Compulsory Social Security 369.01 131.17 237.85 363.92 126.75 237.17 Education 159.30 23.56 135.73 160.73 23.74 136.99
Public 62.51 1.35 61.16 61.98 1.19 60.79 Private 96.79 22.21 74.57 98.75 22.55 76.20
Health & Social Work 117.54 40.08 77.46 117.74 37.10 80.64 Public 92.99 28.54 64.45 92.72 25.34 67.38 Private 24.55 11.54 13.01 25.02 11.76 13.26
Other Community, Social & Personal Services 109.82 45.70 64.12 120.03 52.79 67.24
Public 4.26 0.59 3.67 4.17 0.52 3.65 Private 105.55 45.11 60.45 115.86 52.27 63.59
Private Households with Employed Persons 15.02 - 15.02 15.17 - 15.17
Less FISIM 88.17 92.00
TOTAL 5,196.03 2,522.20 2,673.83
5,181.56 2,535.69 2,645.87
Page | 50
Table 8g: GVA Consumption in Current Basic Prices, 2012 And 2013 All Figures in EC$M
Economic Activity
2012 2013
Gross Output
Intermediate Consumption
Gross Value Added
Gross Output
Intermediate Consumption
Gross Value Added
Agriculture 39.32 10.59 28.73 40.39 11.01 29.39
Crops 23.89 6.19 17.70 25.33 6.57 18.76 Livestock 13.63 3.52 10.11 13.27 3.57 9.70 Forestry 1.79 0.87 0.92 1.79 0.87 0.92
Fishing 46.84 14.05 32.79 49.96 14.99 34.97 Mining & Quarrying 31.79 10.17 21.62 44.59 14.27 30.32 Manufacturing 158.15 90.84 67.30 186.71 99.33 87.38 Electricity & Water Supply 409.02 296.60 112.42 415.87 306.82 109.05
Electricity 353.57 254.57 98.99 359.25 265.42 93.83 Water 55.45 42.03 13.43 56.62 41.40 15.22
Construction 646.83 386.40 260.43 679.29 405.79 273.50 Wholesale & Retail Trade 577.40 161.67 415.73 570.04 165.31 404.73 Hotels & Restaurants 862.84 500.57 362.27 867.85 505.09 362.76
Accommodation 585.27 314.88 270.40 576.35 310.08 266.27 Restaurants 277.57 185.69 91.87 291.50 195.01 96.49
Transport, Storage & Communication 717.25 382.37 334.89 710.77 395.17 315.61 Road Transport 196.85 68.90 127.96 194.64 68.12 126.51 Sea Transport 8.76 6.62 2.13 9.62 7.27 2.34 Air Transport 217.50 158.88 58.62 209.15 172.04 37.11 Auxiliary Transport Activities 75.84 33.93 41.91 69.58 28.41 41.17 Communications 218.30 114.04 104.26 227.79 119.33 108.46
Financial Intermediation 500.41 210.08 290.33 419.79 197.07 222.72 Banks & Other Financial Institutions 320.22 102.37 217.85 246.48 93.31 153.17 Insurance 96.37 39.66 56.71 93.31 39.84 53.47 Offshore Banks & Trusts 75.47 63.94 11.54 70.83 60.00 10.83 Auxiliary 8.34 4.11 4.23 9.17 3.91 5.25
Real Estate, Renting & Business Activities 588.65 215.68 372.97 614.06 222.47 391.59
Owner Occupied Dwellings 331.72 99.52 232.20 340.16 102.05 238.11 Real Estate Activities 77.94 42.01 35.93 61.44 33.12 28.33 Renting of Machinery & Equipment 19.57 9.92 9.65 17.94 9.10 8.85 Computer & Related Services 3.31 1.78 1.53 2.86 1.54 1.32 Business Services 156.11 62.44 93.67 191.65 76.66 114.99
Public Administration & Defence; Compulsory Social Security 374.78 124.47 250.31 364.99 115.44 249.54 Education 181.61 27.56 154.04 202.57 32.14 170.43
Public 65.11 1.28 63.83 64.88 1.52 63.37 Private 116.50 26.29 90.21 137.68 30.62 107.06
Health & Social Work 127.12 38.75 88.37 131.71 43.63 88.08 Public 101.20 26.57 74.63 104.60 30.89 73.71 Private 25.93 12.19 13.74 27.11 12.74 14.37
Other Community, Social & Personal Services 126.49 55.98 70.51 136.89 60.27 76.62
Public 4.39 0.56 3.83 4.47 0.66 3.80 Private 122.10 55.42 66.68 132.42 59.61 72.82
Private Households with Employed Persons 15.59 - 15.59 15.65 - 15.65
Less FISIM 85.11 65.17
TOTAL 5,404.09 2,610.90 2,793.19 5,451.13 2,653.96 2,797.17
Page | 51
Table 8h: GVA Consumption in Current Basic Prices, 2014 And 2015 All Figures in EC$M
Economic Activity
2014 2015
Gross Output
Intermediate Consumption
Gross Value Added
Gross Output
Intermediate Consumption
Gross Value Added
Agriculture 41.42 11.29 30.13 41.65 11.37 30.28
Crops 26.85 6.96 19.89 28.19 7.31 20.88 Livestock 12.78 3.46 9.32 11.67 3.19 8.48 Forestry 1.79 0.87 0.92 1.79 0.87 0.92
Fishing 36.78 11.03 25.74 39.87 11.96 27.91 Mining & Quarrying 46.63 14.92 31.71 41.54 13.29 28.25 Manufacturing 195.18 102.22 92.96 201.29 104.46 96.83 Electricity & Water Supply 425.35 307.04 118.31 404.93 252.85 152.08
Electricity 369.38 264.36 105.02 350.35 206.25 144.11 Water 55.97 42.68 13.29 54.58 46.60 7.98
Construction 753.22 449.95 303.27 786.89 470.07 316.82 Wholesale & Retail Trade 615.31 178.44 436.87 632.55 183.44 449.11 Hotels & Restaurants 899.69 525.17 374.52 1,099.33 715.69 383.64
Accommodation 585.65 315.08 270.57 769.03 494.72 274.31 Restaurants 314.04 210.09 103.95 330.30 220.97 109.33
Transport, Storage & Communication 769.56 434.46 335.10 799.82 420.29 379.53 Road Transport 206.52 72.28 134.24 213.81 74.83 138.98 Sea Transport 10.44 7.90 2.54 11.57 8.75 2.82 Air Transport 251.98 209.55 42.44 252.67 181.04 71.64 Auxiliary Transport Activities 72.51 29.19 43.32 78.63 35.65 42.98 Communications 228.11 115.55 112.56 243.14 120.03 123.11
Financial Intermediation 407.61 183.92 223.69 396.00 154.61 241.39 Banks & Other Financial Institutions 233.86 84.96 148.90 249.05 79.62 169.43 Insurance 90.75 40.47 50.28 91.20 40.67 50.54 Offshore Banks & Trusts 75.77 54.44 21.33 46.89 31.33 15.57 Auxiliary 7.23 4.06 3.17 8.85 2.99 5.86
Real Estate, Renting & Business Activities 660.03 240.23 419.81 745.96 277.95 468.01
Owner Occupied Dwellings 349.03 104.71 244.32 356.91 107.07 249.83 Real Estate Activities 64.76 34.90 29.85 95.45 51.45 44.00 Renting of Machinery & Equipment 16.69 8.46 8.23 15.30 7.76 7.54 Computer & Related Services 2.36 1.27 1.09 2.53 1.36 1.17 Business Services 227.19 90.88 136.32 275.76 110.31 165.46
Public Administration & Defence; Compulsory Social Security 435.90 146.16 289.73 431.58 130.75 300.83 Education 210.27 31.64 178.63 196.96 28.27 168.69
Public 75.21 1.45 73.76 77.70 1.30 76.40 Private 135.06 30.19 104.87 119.27 26.97 92.29
Health & Social Work 138.75 43.79 94.96 146.40 44.94 101.46 Public 110.72 30.62 80.10 110.43 28.03 82.39 Private 28.03 13.17 14.86 35.97 16.91 19.07
Other Community, Social & Personal Services 140.94 61.29 79.65 147.26 65.85 81.41
Public 5.06 0.63 4.43 5.15 0.57 4.59 Private 135.88 60.66 75.23 142.11 65.28 76.82
Private Households with Employed Persons 15.31 - 15.31 12.54 - 12.54
Less FISIM 54.06 54.85
TOTAL 5,791.95 2,795.63 2,996.32
6,124.58 2,940.65 3,183.93
Page | 52
Table 8i: GVA Consumption in Current Basic Prices, 2016 And 2017 All Figures in EC$M
Economic Activity
2016 2017
Gross Output
Intermediate Consumption
Gross Value Added
Gross Output
Intermediate Consumption
Gross Value Added
Agriculture 43.64 11.90 31.75 45.44 12.37 33.07
Crops 29.60 7.67 21.93 30.94 8.02 22.92 Livestock 12.25 3.35 8.90 12.68 3.47 9.21 Forestry 1.79 0.87 0.92 1.81 0.88 0.93
Fishing 41.86 12.56 29.31 54.56 16.37 38.19
Mining & Quarrying 46.30 14.82 31.48 52.83 16.91 35.93 Manufacturing 214.67 109.10 105.56 212.33 109.77 102.56 Electricity & Water Supply 409.78 234.61 175.17 392.55 235.28 157.28
Electricity 360.76 192.39 168.37 353.54 201.61 151.93 Water 49.02 42.22 6.80 39.01 33.67 5.34
Construction 941.92 562.67 379.24 1,176.98 703.10 473.89 Wholesale & Retail Trade 641.95 186.17 455.79 663.31 192.36 470.95 Hotels & Restaurants 1,216.72 792.26 424.46 1,204.36 785.00 419.36
Accommodation 845.37 543.83 301.54 806.26 518.67 287.59 Restaurants 371.35 248.43 122.92 398.10 266.33 131.77
Transport, Storage & Communication 827.35 413.82 413.53 833.07 410.71 422.37 Road Transport 221.09 77.38 143.71 230.04 80.51 149.53 Sea Transport 12.27 9.28 2.99 13.20 9.99 3.22 Air Transport 245.07 169.68 75.39 232.82 161.29 71.53 Auxiliary Transport Activities 88.55 33.82 54.73 98.96 33.89 65.07 Communications 260.37 123.65 136.71 258.06 125.03 133.03
Financial Intermediation 444.06 189.58 254.48 465.57 199.94 265.63 Banks & Other Financial Institutions 273.11 82.89 190.22 286.29 88.27 198.02 Insurance 119.99 70.42 49.57 130.44 79.19 51.25 Offshore Banks & Trusts 43.78 32.95 10.83 41.70 29.18 12.51 Auxiliary 7.17 3.32 3.86 7.15 3.30 3.85
Real Estate, Renting & Business Activities 753.07 280.98 472.09 791.07 295.67 495.40
Owner Occupied Dwellings 361.54 108.46 253.08 376.03 112.81 263.22 Real Estate Activities 101.41 54.66 46.75 106.85 57.59 49.26 Renting of Machinery & Equipment 13.52 6.86 6.67 14.88 7.55 7.34 Computer & Related Services 2.60 1.40 1.20 2.87 1.55 1.32 Business Services 274.00 109.60 164.40 290.44 116.18 174.27
Public Administration & Defence; Compulsory Social Security 492.18 170.79 321.39 504.98 180.32 324.66 Education 234.52 34.88 199.64 231.20 34.10 197.10
Public 83.88 1.42 82.45 84.52 1.43 83.10 Private 150.65 33.45 117.19 146.68 32.68 114.00
Health & Social Work 156.22 47.50 108.72 158.16 47.83 110.33 Public 118.51 29.77 88.73 119.81 29.80 90.01 Private 37.71 17.72 19.99 38.35 18.03 20.33
Other Community, Social & Personal Services 143.43 62.51 80.93 142.83 61.63 81.20
Public 5.57 0.62 4.95 5.61 0.63 4.99 Private 137.86 61.88 75.98 137.22 61.01 76.21
Private Households with Employed Persons 11.39 - 11.39 10.27 - 10.27
Less FISIM 59.76 62.86
TOTAL 6,619.07 3,183.89 3,435.18
6,939.54 3,364.20 3,575.33
Page | 53
Table 8i: GVA Consumption in Current Basic Prices, 2016 And 2017 All Figures in EC$M
Economic Activity
2018 2019
Gross Output
Intermediate Consumption
Gross Value Added
Gross Output
Intermediate Consumption
Gross Value Added
Agriculture 47.11 12.81 34.29 48.61 13.21 35.40
Crops 32.04 8.31 23.73 33.00 8.56 24.45 Livestock 13.26 3.63 9.63 13.80 3.77 10.02 Forestry 1.81 0.88 0.93 1.81 0.88 0.93
Fishing 56.76 17.03 39.73 58.18 17.46 40.73 Mining & Quarrying 58.70 18.78 39.91 65.80 21.06 44.75 Manufacturing 224.14 115.87 108.27 234.32 121.14 113.19 Electricity & Water Supply 402.41 241.71 160.71 415.83 250.10 165.73
Electricity 360.65 205.66 154.99 371.54 211.88 159.67 Water 41.76 36.04 5.72 44.29 38.22 6.07
Construction 1,461.82 873.25 588.57 1,739.93 1,039.38 700.54 Wholesale & Retail Trade 713.49 206.91 506.58 742.24 215.25 526.99 Hotels & Restaurants 1,284.58 837.31 447.28 1,338.56 872.53 466.03
Accommodation 859.11 552.67 306.45 893.74 574.94 318.80 Restaurants 425.47 284.64 140.83 444.83 297.59 147.24
Transport, Storage & Communication 900.17 443.30 456.87 954.22 468.95 485.26 Road Transport 248.72 87.05 161.67 266.38 93.23 173.15 Sea Transport 15.34 11.60 3.74 16.42 12.42 4.00 Air Transport 254.19 176.10 78.09 269.67 186.82 82.85 Auxiliary Transport Activities 116.08 39.75 76.33 127.87 43.79 84.08 Communications 265.85 128.80 137.05 273.88 132.69 141.18
Financial Intermediation 488.30 209.05 279.24 512.25 218.64 293.61 Banks & Other Financial Institutions 302.23 93.19 209.05 319.07 98.38 220.69 Insurance 135.71 82.39 53.32 141.19 85.72 55.47 Offshore Banks & Trusts 42.96 30.06 12.89 44.25 30.97 13.28 Auxiliary 7.40 3.41 3.98 7.73 3.57 4.16
Real Estate, Renting & Business Activities 828.96 310.38 518.58 865.68 324.62 541.05
Owner Occupied Dwellings 389.50 116.85 272.65 403.45 121.03 282.41 Real Estate Activities 112.25 60.50 51.75 117.93 63.57 54.37 Renting of Machinery & Equipment 16.14 8.18 7.96 17.53 8.89 8.64 Computer & Related Services 2.97 1.60 1.37 3.08 1.66 1.42 Business Services 308.10 123.24 184.86 323.69 129.48 194.21
Public Administration & Defence; Compulsory Social Security 520.13 185.73 334.40 530.53 189.44 341.09 Education 239.66 35.47 204.20 247.57 36.87 210.70
Public 87.06 1.47 85.59 88.80 1.50 87.30 Private 152.61 34.00 118.61 158.77 35.37 123.40
Health & Social Work 163.11 49.36 113.75 166.98 50.63 116.35 Public 123.41 30.70 92.71 125.87 31.31 94.56 Private 39.71 18.66 21.04 41.11 19.32 21.79
Other Community, Social & Personal Services 148.54 64.11 84.43 154.43 66.69 87.73
Public 5.78 0.64 5.14 5.90 0.66 5.24 Private 142.76 63.47 79.29 148.53 66.03 82.49
Private Households with Employed Persons 10.07 - 10.07 10.06 - 10.06
Less FISIM 65.40 67.71
TOTAL 7,547.94 3,686.47 3,861.47
8,085.21 3,973.68 4,111.52
Page | 54
Table 9a: Expenditure On Gross Domestic Product In Current Prices: 2000-2004 All Figures in EC$M
Economic Activity 2000 2001 2002 2003 2004
TOTAL CONSUMPTION 1,680.00 1,830.38 1,838.55 1,968.64 2,056.65 Government Final Consumption Expenditure 385.93 420.90 483.79 428.34 455.00
Private Final Consumption Expenditure 1,294.07 1,409.48 1,354.76 1,540.30 1,601.65 GROSS CAPITAL FORMATION 646.74 442.96 486.66 536.30 583.80 Transport Equipment 31.62 21.82 28.06 34.29 40.53 Other Machinery and Equipment 172.13 93.70 102.01 110.31 118.61 Construction 442.99 327.44 356.60 391.70 424.65 GOODS AND SERVICES (85.32) (111.35) (125.75) (194.71) (157.59) Total Exports of Goods and Services 1,260.53 1,202.40 1,155.24 1,249.12 1,441.73
Exports of Goods 141.37 120.57 90.84 120.76 154.25 Exports of Services 1,119.15 1,081.83 1,064.39 1,128.36 1,287.48 Total Imports of Goods and Services 1,345.85 1,313.75 1,280.99 1,443.83 1,599.31
Imports of Goods 924.46 857.25 818.08 951.17 1,086.37 Imports of Services 421.39 456.50 462.91 492.66 512.95
GDP in MARKET PRICES 2,241.43 2,162.00 2,199.46 2,310.24 2,482.86
Less: Other Taxes on Products and
Production 231.10 251.51 267.96 284.53 352.58 Add: Subsidies 4.15 4.17 4.18 4.52 11.71
GVA in BASIC PRICES 2,014.48 1,914.66 1,935.68 2,030.23 2,141.99
Page | 55
Table 9b: Expenditure on Gross Domestic Product in Current Prices, 2005-2009 All Figures in EC$M
Economic Activity 2005 2006 2007 2008 2009
TOTAL CONSUMPTION 2,387.86 2,722.61 3,165.17 3,192.84 2,446.55 Government Final Consumption Expenditure 454.72 469.43 542.77 657.10 647.69 Private Final Consumption Expenditure 1,933.14 2,253.18 2,622.40 2,535.75 1,798.86 GROSS CAPITAL FORMATION 743.17 1,130.96 1,323.54 1,384.39 1,250.03 Transport Equipment 46.77 62.10 79.32 78.25 77.18 Other Machinery and Equipment 126.92 170.42 231.44 195.57 159.70 Construction 569.48 898.44 1,012.77 1,110.56 1,013.15 GOODS AND SERVICES (371.12) (729.66) (947.92) (882.47) (391.10) Total Exports of Goodsand Services 1,472.23 1,480.06 1,569.48 1,688.50 1,516.38 Exports of Goods 223.39 199.88 160.25 176.73 137.19
Exports of Services 1,248.83 1,280.18 1,409.23 1,511.76 1,379.20 Total Imports of Goods and Services 1,843.35 2,209.72 2,517.40 2,570.96 1,907.49
Imports of Goods 1,229.46 1,511.20 1,752.06 1,808.69 1,293.05 Imports of Services 613.89 698.52 765.35 762.27 614.44
GDP in MARKET PRICES 2,759.92 3,123.91 3,540.78 3,694.76 3,305.48
Less: Other Taxes on Products and Production 368.31 427.90 563.33 547.23 446.90
Add: Subsidies 14.55 9.75 21.73 26.37 24.00 GVA in BASIC PRICES 2,406.15 2,705.76 2,999.18 3,173.91 2,882.58
Page | 56
Table 9c: Expenditure on Gross Domestic Product in Current Prices, 2010-2014 All Figures in EC$M
Economic Activity 2010 2011 2012 2013 2014
TOTAL CONSUMPTION 2,658.37 2,726.22 2,982.77 2,937.15 3,010.93
Government Final Consumption Expenditure 553.97 538.91 569.69 547.76 564.08
Private Final Consumption Expenditure 2,104.40 2,187.31 2,413.08 2,389.39 2,446.85
GROSS CAPITAL FORMATION 872.05 637.05 716.55 756.84 842.35
Transport Equipment 35.02 22.26 30.04 35.89 46.97
Other Machinery and Equipment 174.33 111.06 104.36 109.60 117.47
Construction 662.70 503.73 582.15 611.36 677.90 GOODS AND SERVICES (418.76) (279.75) (428.51) (473.09) (409.22) Total Exports of Goods and Services 1,414.35 1,451.94 1,466.85 1,473.03 1,595.41
Exports of Goods 123.43 151.61 159.41 171.44 186.21
Exports of Services 1,290.92 1,300.33 1,307.43 1,301.59 1,409.21 Total Imports of Goods and Services 1,833.11 1,731.69 1,895.35 1,946.13 2,004.63
Imports of Goods 1,225.49 1,162.20 1,329.34 1,358.29 1,396.94
Imports of Services 607.63 569.49 566.02 587.84 607.69 GDP in MARKET PRICES 3,111.67 3,083.52 3,270.81 3,220.90 3,444.06
Less: Other Taxes on Products and Production 460.87 462.64 503.61 449.71 473.76
Add: Subsidies 23.00 25.00 26.00 26.00 26.00 GVA in BASIC PRICES 2,673.80 2,645.87 2,793.20 2,797.19 2,996.30
Page | 57
Table 9d: Expenditure on Gross Domestic Product in Current Prices, 2015-2019 All Figures in EC$M
Economic Activity 2015 2016 2017R 2018P 2019P
TOTAL CONSUMPTION 2,990.43 3,082.78 2,984.74 2,967.92 2,922.44 Government Final Consumption Expenditure 586.87 610.58 635.25 660.91 687.61
Private Final Consumption Expenditure 2,403.56 2,472.20 2,349.49 2,307.01 2,234.83 GROSS CAPITAL FORMATION 863.59 1,054.35 1,290.81 1,603.19 1,908.20
Transport Equipment 52.26 82.87 77.22 95.91 114.15
Other Machinery and Equipment 103.14 123.76 154.31 191.65 228.11
Construction 708.20 847.72 1,059.29 1,315.63 1,565.93 GOODS AND NON-FACTOR SERVICES (184.20) (182.63) (181.29) (179.80) (178.17) Total Exports of Goods and Non-Factor Services 1,625.92 1,671.47 1,709.93 1,749.29 1,789.55
Exports of Goods 161.09 164.32 167.60 170.95 174.37
Exports of Non-Factor Services 1,464.83 1,507.15 1,542.33 1,578.34 1,615.18 Total Imports of Goods and Non-Factor Services 1,810.12 1,854.09 1,891.22 1,929.09 1,967.72
Imports of Goods 1,200.12 1,224.12 1,248.60 1,273.58 1,299.05
Imports of Non-Factor Services 610.00 629.97 642.62 655.52 668.67 GDP in MARKET PRICES 3,669.83 3,954.50 4,094.26 4,391.30 4,652.47 Less: Other Taxes on Products and Production 511.89 545.32 544.93 555.83 566.95
Add: Subsidies 26.00 26.00 26.00 26.00 26.00 GVA in BASIC PRICES 3,183.93 3,435.18 3,575.33 3,861.47 4,111.52
Page | 58
Table 10a: National Accounts Aggregates in Current Prices, 2000-2004 All Figures in EC$M
National Accounts Aggregates 2000 2001 2002 2003 2004
GVA AT BASIC PRICES 2,014.48 1,914.66 1,935.68 2,030.23 2,141.99
Taxes on Production and Imports less Subsidies 226.95 247.34 263.78 280.01 340.87
GDP AT MARKET PRICES 2,241.43 2,162.00 2,199.46 2,310.24 2,482.86
Net income from Abroad (120.20) (66.93) (111.91) (104.48) (121.73)
GROSS NATIONAL INCOME 2,121.23 2,095.07 2,087.56 2,205.76 2,361.13
Current Transfers from Abroad 25.23 24.66 15.16 35.78 22.54
GROSS NATIONAL DISPOSABLE INCOME 2,146.46 2,119.73 2,102.71 2,241.53 2,383.67
Private Final Consumption 1,294.08 1,409.48 1,354.75 1,540.30 1,601.65
Government Final Consumption 385.93 420.90 483.79 428.34 455.00
Total Consumption 1,680.01 1,830.38 1,838.54 1,968.64 2,056.65
GROSS NATIONAL SAVING 466.45 289.34 264.17 272.89 327.02
Gross Capital Formation 646.74 442.96 486.67 536.30 583.79
Gross National Saving 466.45 289.34 264.17 272.89 327.02
FOREIGN SAVING 180.29 153.62 222.50 263.41 256.77
Table 10b: National Accounts Aggregates in Current Prices, 2005-2009
All Figures in EC$M
National Accounts Aggregates 2005 2006 2007 2008 2009
GVA AT BASIC PRICES 2,406.15 2,705.76 2,999.18 3,173.91 2,882.58
Taxes on Production and Imports less Subsidies 353.76 418.15 541.60 520.86 422.90
GDP AT MARKET PRICES 2,759.92 3,123.91 3,540.78 3,694.76 3,305.48
Net income from Abroad (113.51) (126.21) (142.20) (164.93) (137.21)
GROSS NATIONAL INCOME 2,646.41 2,997.71 3,398.58 3,529.84 3,168.27
Current Transfers from Abroad 21.60 68.10 49.24 77.63 71.95
GROSS NATIONAL DISPOSABLE INCOME 2,668.00 3,065.81 3,447.82 3,607.47 3,240.22
Private Final Consumption 1,933.14 2,253.18 2,622.41 2,535.75 1,798.87
Government Final Consumption 454.72 469.43 542.77 657.10 647.69
Total Consumption 2,387.86 2,722.61 3,165.18 3,192.85 2,446.56
GROSS NATIONAL SAVING 280.14 343.20 282.64 414.62 793.66
Gross Capital Formation 743.17 1,130.96 1,323.53 1,384.38 1,250.03
Gross National Saving 280.14 343.20 282.64 414.62 793.66
FOREIGN SAVING 463.03 787.76 1,040.89 969.76 456.37
Page | 59
Table 10c: National Accounts Aggregates in Current Prices, 2010-2014
All Figures in EC$M
National Accounts Aggregates 2010 2011 2012 2013 2014
GVA AT BASIC PRICES 2,673.80 2,645.87 2,793.20 2,797.19 2,996.30
Taxes on Production and Imports less Subsidies 437.87 437.64 477.61 423.71 447.76
GDP AT MARKET PRICES 3,111.67 3,083.52 3,270.81 3,220.90 3,444.06
Net income from Abroad (85.02) (106.57) (137.94) (83.47) (97.51)
GROSS NATIONAL INCOME 3,026.65 2,976.94 3,132.87 3,137.43 3,346.54
Current Transfers from Abroad 52.59 69.30 81.93 70.65 76.77
GROSS NATIONAL DISPOSABLE INCOME 3,079.24 3,046.24 3,214.80 3,208.08 3,423.32
Private Final Consumption 2,104.41 2,187.31 2,413.08 2,389.38 2,446.85
Government Final Consumption 553.97 538.91 569.69 547.76 564.08
Total Consumption 2,658.38 2,726.22 2,982.77 2,937.14 3,010.93
GROSS NATIONAL SAVING 420.86 320.03 232.04 270.94 412.39
Gross Capital Formation 872.05 637.05 716.55 756.85 842.35
Gross National Saving 420.86 320.03 232.04 270.94 412.39
FOREIGN SAVING 451.19 317.02 484.51 485.91 429.96
Table 10d: National Accounts Aggregates in Current Prices, 2015-2019
All Figures in EC$M
National Accounts Aggregates 2015 2016 2017R 2018P 2019P
GVA AT BASIC PRICES 3,183.93 3,435.18 3,575.33 3,861.47 4,111.52
Taxes on Production and Imports less Subsidies 485.89 519.32 518.93 529.83 540.95
GDP AT MARKET PRICES 3,669.83 3,954.50 4,094.26 4,391.30 4,652.47
Net income from Abroad (84.39) (99.32) (112.59) (127.64) (144.71)
GROSS NATIONAL INCOME 3,585.43 3,855.18 3,981.67 4,263.66 4,507.76
Current Transfers from Abroad 77.28 79.22 81.22 83.26 85.35
GROSS NATIONAL DISPOSABLE INCOME 3,662.71 3,934.41 4,062.89 4,346.92 4,593.12
Private Final Consumption 2,403.56 2,472.20 2,349.49 2,307.01 2,234.83
Government Final Consumption 586.87 610.58 635.25 660.91 687.61
Total Consumption 2,990.43 3,082.78 2,984.74 2,967.92 2,922.44
GROSS NATIONAL SAVING 672.28 851.63 1,078.15 1,379.00 1,670.67
Gross Capital Formation 863.59 1,054.35 1,290.81 1,603.19 1,908.20
Gross National Saving 672.28 851.63 1,078.15 1,379.00 1,670.67
FOREIGN SAVING 191.31 202.72 212.67 224.19 237.52
Page | 60
Table 11a: Selected Economic Indicators, 2000-2004
Indicators UNIT 2000 2001 2002 2003 2004
GDP Indicators
GVA at Current Basic Prices EC$M 2,014.48 1,914.66 1,935.68 2,030.23 2,141.99 GVA at Constant Basic Prices EC$M 2,173.62 2,035.71 2,043.73 2,164.40 2,246.67 GDP at Current Market Prices EC$M 2,241.43 2,162.00 2,199.46 2,310.24 2,482.86
GNI at Current Market Prices EC$M 2,121.23 2,095.07 2,087.56 2,205.76 2,361.13 Per Capita GDP at Market Prices EC$ 30,997.49 28,119.44 28,319.85 29,462.79 31,350.80
Other Indicators
Mid-year Population Number 72,310 76,886 77,665 78,412 79,196 Value of Exports (FOB) EC$M 60.81 55.44 31.24 48.49 187.06 Value of Imports (CIF) EC$M 913.68 757.13 907.90 1,056.77 1,237.99 Balance of Visible Trade EC$M (852.87) (701.69) (876.66) (1,008.29) (1,050.93)
Consumer Price Index Per cent change 0.77 1.40 2.41 1.99 2.03
Implicit GVA Deflator Per cent change 1.55 1.48 0.70 -0.96 1.64
Government Recurrent Revenue EC$M 325.60 357.31 392.80 422.85 472.34
Government Recurrent Expenditure EC$M 477.59 482.57 547.46 497.44 553.03 Total Stay-Over Visitors '000 206,871 193,176 198,085 224,032 245,797 Cruise Ship Visitors '000 428,791 408,812 312,241 385,686 522,753 Electricity Generated '000KWH 152,231 160,169 164,615 163,356 168,830
Page | 61
Table 11b: Selected Economic Indicators, 2005-2009
Indicators UNIT 2005 2006 2007 2008 2009
GDP Indicators
GVA at Current Basic Prices EC$M 2,406.15 2,705.76 2,999.18 3,173.91 2882.58 GVA at Constant Basic Prices EC$M 2,415.98 2,705.76 2,891.09 2,931.13 2,615.32 GDP at Current Market Prices EC$M 2,759.92 3,123.91 3,540.78 3,694.76 3,305.48 GNI at Current Market Prices EC$M 2,646.41 2,997.71 3,398.58 3,529.84 3,168.27
Per Capita GDP at Market Prices EC$
34,495.98
38,635.95
43,319.71
44,696.66 39,527.89
Other Indicators
Mid-Year Population Number 80,007 80,855 81,736 82,663 83,624 Value of Exports (FOB) EC$M 325.63 441.49 469.71 249.36 555.40 Value of Imports (CIF) EC$M 1,419.21 1,811.01 1,962.92 2,175.04 1,887.44
Balance of Visible Trade EC$M (1,093.57) (1,369.53) (1,493.21) (1,925.68) (1,332.04)
Consumer Price Index Per cent change 2.10 1.79 1.42 5.33 -0.55
Implicit GVA Deflator Per cent change 4.46 0.41 3.74 4.38 1.79
Government Recurrent Revenue EC$M 493.68 602.68 724.66 736.01 595.85 Government Recurrent Expenditure EC$M 563.27 684.07 749.62 766.27 781.74 Total Stay-Over Visitors '000 245,384 253,679 261,802 265,844 234,410 Cruise Ship Visitors '000 466,851 471,623 672,788 596,120 709,795 Electricity Generated '000KWH 175,897 187,073 204,507 214,779 219,572
Page | 62
Table 11c: Selected Economic Indicators, 2010-2014
Indicators UNIT 2010 2011 2012 2013 2014
GDP Indicators
GVA at Current Basic Prices EC$M 2,673.80 2,645.87 2,793.20 2,797.19 2,996.30 GVA at Constant Basic Prices EC$M 2,391.46 2,338.43 2,408.89 2,447.16 2,565.70 GDP at Current Market Prices EC$M 3,111.67 3,083.52 3,270.81 3,220.90 3,444.06 GNI at Current Market Prices EC$M 3,026.65 2,976.94 3,132.87 3,137.43 3,346.54
Per Capita GDP at Market Prices EC$
36,771.41
36,036.32
37,685.18
36,572.46
38,528.04
Other Indicators
Mid-Year Population Number 84,622 85,567 86,793 88,069 89,391 Value of Exports (FOB) EC$M 94.04 78.38 78.32 88.89 62.32 Value of Imports (CIF) EC$M 1,353.32 1,271.96 1,437.43 1,372.87 1,489.73
Balance of Visible Trade EC$M (1,259.28) (1,193.58) (1,359.12) (1,283.98) (1,427.41)
Consumer Price Index Per cent change 3.37 3.46 3.38 1.06 1.09
Implicit GVA Deflator Per cent change 1.44 1.20 2.48 -1.42 2.17
Government Recurrent Revenue EC$M 639.58 596.32 646.64 597.82 664.41 Government Recurrent Expenditure EC$M 676.23 714.67 671.49 700.66 718.32 Total Stay-Over Visitors '000 229,943 241,331 246,926 243,219 249,316 Cruise Ship Visitors '000 557,030 604,506 567,707 533,280 525,349 Electricity Generated '000KWH 234,728 255,230 248,064 242,098 247,409
Page | 63
Table 11d: Selected Economic Indicators, 2015-2019
Indicators UNIT 2015 2016 2017R 2018P 2019P
GDP Indicators
GVA at Current Basic Prices EC$M 3,183.93 3,435.18 3,575.33 3,861.47 4,111.52 GVA at Constant Basic Prices EC$M 2,661.65 2,793.59 2,909.15 3,085.49 3,225.09 GDP at Current Market Prices EC$M 3,669.83 3,954.50 4,094.26 4,391.30 4,652.47 GNI at Current Market Prices EC$M 3,585.43 3,855.18 3,981.67 4,263.66 4,507.76
Per Capita GDP at Market Prices EC$
40,436.67
42,910.47
43,570.98
46,217.40
48,235.62
Other Indicators
Mid-Year Population Number 90,755 92,157 93,581 95,014 96,453 Value of Exports (FOB) EC$M 70.90 164.58 168.45 172.41 176.47 Value of Imports (CIF) EC$M 1,318.61 1,342.79 1,700.56 2,153.65 2,727.47
Balance of Visible Trade EC$M (1,247.70) (1,178.21) (1,532.11) (1981.24) (2,551.00)
Consumer Price Index Per cent change 0.97 -0.49 2.43 2.43 2.43
Implicit GVA Deflator Per cent change 2.43 2.80 0.05 1.83 1.87
Government Recurrent Revenue EC$M 782.96 776.71 792.23 816.00 832.32 Government Recurrent Expenditure EC$M 738.73 811.75 841.19 866.43 832.75 Total Stay-Over Visitors '000 250,450 265,187 247,331 263,556 274,177 Cruise Ship Visitors '000 636,458 594,729 768,838 893,005 956,052 Electricity Generated '000KWH 259,317 266,550 269,453 274,869 283,170
Page | 64
Chart 1: Nominal Gross Domestic Product Growth Rate
Chart 2: Real Gross Domestic Product Growth Rate
Page | 65
KEY CONCEPTS AND DEFINITIONS
The following notes, concepts and definitions are presented here to facilitate an
understanding and interpretation of the data presented in the statistical tables.
Key Concepts
Output
Output measures the value of goods and services produced within an establishment that
becomes available for use outside that establishment. There are three types of output: market
output, output for own final use and other non-market output.
(a) Market output consists of:
products sold at economically significant prices
products bartered
products used for payments in kind (wages in kind etc.)
intra-company transfers of product (i.e. the value of goods and services supplied by one establishment to another within the same enterprise, to be used as intermediate inputs)
changes in inventories of work-in-progress and finished goods, referred to as stock investment
(b) Output for own final use consists of:
own-account capital formation
households’ production of products for own final consumption. These include
- production of goods for own final consumption
- services of paid domestic staff
- services of owner-occupied dwellings
(c) Other non-market output:
Other non-market output consists of output that is provided free or at economically non-
significant prices to other units. This output includes most of the output of the government sector
and non-profit institutions serving households (NPISH).
Intermediate Consumption
Intermediate consumption consists of non-durable goods and services purchased by
producers and used up as inputs in the process of production. It does not include goods and
services produced within the establishment and fed back as inputs into production within the
same establishment. Non-durable goods are defined as goods having an expected lifetime of use
of less than a year. Intermediate consumption goods are valued in purchasers’ prices (See Figure
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1). In practice, intermediate consumption is estimated as the sum of purchases of inputs less
changes in inventories of inputs. Problems sometimes arise in differentiating intermediate
consumption from compensation of employees and gross capital formation.
BASIC PRICE PRODUCER’S PRICE PURCHASER’S PRICE
Figure 1: Relationship among Basic, Producer and Purchaser Prices
Valuation of Items Used in Compiling the Accounts
There are six valuation items used in compiling the accounts. These are output,
intermediate consumption, private and government final consumption expenditure, gross capital
formation, value of imports, and value of exports.
(a) Output is valued at basic prices
(b) Intermediate consumption is valued at purchasers’ prices
PRODUCER’S PRICE
BASIC PRICE
Taxes less subsidies on products
(including non-deductible value
added taxes) on producers
Transport and trade margins
Taxes less subsidies on products
(including non-deductible value
added taxes) on consumers
BASIC PRICE
Box 1: Valuation of Goods and Services
Basic price is the amount receivable by the producer from the purchaser for a
unit of a good or service produced, less any tax payable, plus any subsidy receivable on
that unit as a consequence of its production or sale. It excludes any transport charges
invoiced separately by the producer.
Producer’s price is the amount receivable by the producer for a unit of a good
or service produced, less any VAT invoiced to the purchaser. It excludes any transport
charges invoiced separately by the producer.
Purchasers’ price is the amount paid by the purchaser, excluding any
deductible VAT or similar deductible tax, in order to take delivery of a unit of a good or
service at the time and place required by the purchaser. It includes any transport
charges paid separately by the purchaser to take delivery at the required time and
place
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(c) Private and government final consumption expenditure are valued at purchasers’ prices.
Private final consumption expenditure has been estimated as the residual of the GDP
after the deduction of
net exports of goods and services;
government final consumption expenditure and gross capital formation.
(d) Gross capital formation consists of gross fixed capital formation and changes in inventories. Gross fixed capital formation and changes in inventories have been valued at purchaser’s prices. Changes in inventories are measured by the value of the entries into inventories less the value of withdrawals and the value of any recurrent losses of goods held in inventories.
(e) Imports are valued at f.o.b. (free on board) as in the balance of payment statistics. This consists of the c.i.f. price less the costs of transportation and insurance charges between the customs frontier of the exporting country and that of the importing country.
(f) Exports are valued f.o.b., which is defined as the cost of the goods to the purchaser abroad including packing, inland transport, loading charges and all other costs occurring up to the point where goods are deposited on board the exporting vessel or aircraft.
Key Definitions
Gross Value-Added
Gross value-added is a measure of each producer’s contribution to GDP. It is a measure
of the increased or newly created value generated by the production process in question, gross
of any capital used up in the production process (See Figure 2).
Figure 2: Components of Gross Domestic Product
Financial Intermediation Services Indirectly Measured (FISIM)
An adjustment is made for financial intermediation services indirectly measured (FISIM)
when computing the gross domestic product for the total economy. FISIM is measured as the total
Gross•Consumption of fixed capital is not deducted
Domestic
•Measured output consists of what is produced within the economic territory/country
Product•Describes what is measured: the results of production
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property income receivable by financial intermediaries minus their total interest payable,
excluding the value of any property income receivable from the investment of their own funds,
as such income does not arise from financial intermediation. FISIM must be recorded as being
disposed of in one or more of the following three ways – as intermediate consumption by
enterprises, as final consumption by households or as exports to non-residents.
Gross Value Added at Basic Prices
Gross value-added at basic prices pertains to the value of all goods and services produced
in an economy within a given time period of usually one year. It is equal to the sum of
compensation of employees, consumption of fixed capital, taxes less subsidies on production and
operating surplus. An over-riding consideration on measuring the value of a country’s gross
domestic product is that duplication must be avoided. Duplication is avoided by deducting from
the output of each producing unit the value of the inputs of goods and services that it has received
from other units, at home or abroad.
Figure 3: Derivation of Gross Value-added
Gross Domestic Product at Market Prices
Gross domestic product at market prices is equal to the sum of the gross value-added of
all resident producers, plus taxes on imports, and all non-deductible VAT or similar taxes less
subsidies.
Gross National Income at Market Prices
Gross national income at market prices is the value of the goods and services produced
by the labour and capital supplied by residents of a country. It is derived by adding net income
from the rest of the world to GDP at market prices.
Net Income from the Rest of the World
Net Income from the Rest of the World is defined as the sum of two major components -
net compensation of employees, and net property and entrepreneurial income.Net compensation
of employees covers the labour income for residents abroad and non-residents in the country.Net
property and entrepreneurial income covers investment income from ownership of foreign
financial claims such as interest and dividends. The entrepreneurial income of foreign investment
Gross OutputIntermediate Consumption
Gross Value-Added
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in a country, i.e. profits and dividends could be remitted to foreign countries or left unremitted.
The unremitted portion is always treated as reinvested earnings.
Labour Income and Workers’ Remittances
It should be noted that there is a distinction between those individuals whose earnings
are to be classified as labour income (persons who are not residents of the economy where they
work) and migrants (persons who have become residents of that economy by virtue of being
expected to live there for a year or more).This distinction is often hard to make in practice. Data
for these items are generally obtained from the balance of payments accounts, where migrants’
income is classified as workers’ remittances under current transfers and labour income is
classified as compensation of employees in the income account.
National Accounts at Constant Prices
For analytical purposes, the national accounts at constant prices are derived by breaking
current values down into a price component and quantity component. Estimates at constant
prices are usually derived by deflating the current output values by price indices or by
extrapolating base year values by appropriate volume indices. Both are equivalent to expressing
current period quantities at base period prices.
Methodology for Estimating Gross Domestic Product
The value-added can be estimated using three different approaches that are generally
called the production approach, the income approach and the expenditure approach.
The production approach is designed to evaluate the value of output. The value-added
is estimated by deducting intermediate consumption from the value of output. The production
approach is useful for estimation of gross value-added for the commodity producing sectors, viz,
agriculture, livestock, forestry, fishing and mining.
The income approach is used to estimate the value-added by aggregating compensation
of employees, taxes less subsidies on production, operating surplus and consumption of fixed
capital. This approach is also referred to as the cost approach since it looks at the costs incurred
by the producer within the establishment.
The expenditure approach is used to estimate the gross domestic product according to
categories of final use. This consists of estimates of expenditure of households final consumption,
consumption expenditure of government, private non-profit services serving households and
gross capital formation adjusted for imports and exports of goods and services.
Compensation of Employees
Compensation of Employees is defined to include all payments by resident producers of
wages and salaries to their employees in cash and in kind, and of contributions, paid or imputed
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in respect of their employees, to social security schemes and to private pensions, family
allowance, casualty insurance, life insurance and similar schemes.
Wages and Salaries
Wages and Salaries is defined to include all payments that employees receive in respect
of their work whether in cash or in kind, and before deductions to social security, income tax, etc.
Included are:
commissions, overtime payments
tips
bonuses
cost-of-living allowances
fees to ministers of religion
fees to board directors
holiday and paid vacation or sick leave
Also included is the cost to the employer of providing food, lodging, ordinary clothing etc.
either free of cost or at a markedly reduced cost that is of clear and direct benefit to the
employees as consumers.
Excluded from wages and salaries is expenditure by employers which is of benefit to both
the employees and employers. Examples of these are outlays on:
medical examinations
sporting and other recreational facilities
amenities at place of work
reimbursement of expenses for travel and entertainment
reimbursement of expenses or provision of uniforms, tools and equipment
Employer’s Contribution to Social Security Schemes
Employer’s Contribution to Social Security Schemes is the amount payable by employers
to social security schemes for the benefit of their employees.
Employer’s contribution to Private Pension Funds and other Pensions
Employer’s Contribution to Private Pension Funds and other Pensions is defined as
contributions to private funds, reserves or other special schemes in respect of family allowances,
lay-off and severance pay, casualties and maternity leave and pensions. The SNA states that if in
the absence of special schemes of reserves, employers make direct payments of this type to their
employees, imputed contributions in respect of these obligations should be included in the
employer’s contribution to private schemes.
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Operating Surplus or Mixed Income
Operating Surplus or Mixed Income is equivalent to the excess of value-added at the
producers’ prices over the sum of compensation of the employees, taxes less subsidies on
production and imports and allowances for the consumption of fixed capital. If a strict income
approach to estimation value-added is used, operating surplus is estimated directly and value-
added is estimated as the sum of its elements. If a combination of the production approach and
income approach to estimation is used, value-added is computed as the difference between gross
output and intermediate consumption, and operating surplus is calculated as the residual
between value-added and its other components.
Operating surplus is simply the sum of net profits and property income. It is the surplus
or deficit from production before taking into account interest and land rents payable by the
establishment, as any non-allowable items such as bad debts, donations, miscellaneous provisions
and capital items written off as current expense. Mixed income is similarly defined but contains
an element of remuneration for the work done by the owners and households of unincorporated
businesses. When estimates of the operating surplus of establishments are derived from data on
profits shown in the accounts of enterprises, care has to be taken to adjust these data, as
necessary, to the national accounts’ definition. If the figures from the accounts of enterprises
relate to profits before taxes, it is necessary to adjust them to remove property incomes, transfers
paid and received and capital gains and losses reflected in the figures.
Consumption of Fixed Capital
Consumption of Fixed Capital is defined as the value at current replacement cost of the
reproducible fixed assets used up during a period of account as a result of normal wear and tear,
consistency and the normal rate of accidental damage. However, unforeseen obsolescence,
major catastrophes and the depletion of natural resources are not included in consumption of
fixed capital.
Taxes on Production and Imports
Taxes on Production and Imports are defined as compulsory, unrequited payments to
government, which industries treat as part of the cost of production. The SNA 93 no longer uses
the term “indirect taxes”. Indirect taxes have been renamed taxes on production and imports.
These taxes do not include direct taxes on the income or wealth of enterprises. Taxes on
production and imports consist of the following two groups:
(a) Taxes on Products
Tax usually payable per unit of specific goods and services
production tax/excise duties: Include excise duties on rum, beer, cigarettes and soft drinks
taxes on exports
other taxes on products: Other taxes on specific goods and services, e. g. hotel occupancy tax and entertainment tax
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(b) Other Taxes on Production
Taxes that establishments incur as a result of engaging in production but which are not
directly tied to specific goods and services
property taxes
business and professional licenses
other taxes and licenses: Include stamp duties, vehicle taxes and licenses
Subsidies
Subsidies are grants on the current account made by government to private industries
and public corporations. They also comprise grants made by the public authorities to government
enterprises in compensation for operating losses when these losses are clearly the consequences
of the policy of the government to maintain prices at a level below cost of production. Any
government grants to producers that are not connected with their productive activities but are
given to them in the capacity of customers, such as social assistance grants and social security
benefits, should be treated as current transfers and not as subsidies.
Government Final Consumption Expenditure
Government Final Consumption Expenditure (GFCE) is defined as the gross output of
producers of government services less the value of its commodity and non-commodity sales and
the value of its own-account capital formation. The gross output is equal to the cost of
production, that is, the sum of the intermediate consumption of goods and services,
compensation of employees, consumption of fixed capital and corresponding net taxes on
production. The main source of data is the government accounts. Expenditure on FISIM is also
included in GFCE.
The government’s final consumption expenditure therefore consists of the purchases of
goods and services and expenditure on compensation of employees, less the revenue received
from sales. Sales do not include fees and charges levied by governments for regulatory purposes.
Examples are payments of driving tests, vehicle licences, driving permits, dog licences, passports,
airport fees and fees charged for court services, all of which are defined as fees when paid by
households and as taxes on production when paid by enterprises. Fines and penalties are also
excluded from sales and classified as “fines and penalties” whether paid by households or
enterprises. These items are not to be deducted from gross output to arrive at final consumption
expenditure.
Private Final Consumption Expenditure
Private final consumption expenditure is defined as the outlays of households on new
durable and non-durable goods and services less their net sales of second-hand goods, scraps and
waste. Purchases of dwellings are treated as gross fixed capital formation of the real estate
industry. The imputed rent of owner-occupied dwellings is part of the gross output of the real
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estate industry and is included in the final consumption expenditure of households. At present,
private final consumption expenditure if derived as a residual.
Two concepts of final consumption expenditure of households are applied in the SNA,
namely final consumption expenditure of households in the domestic market and final
consumption expenditure of resident households. The final consumption expenditure of
households in the domestic market concept relates to the expenditure of all household residents
as well as non-residents, in the domestic territory of a country. This concept is arrived at first in
the process of estimation. It is also the concept of household consumption expenditure that is
classified according to type and object of expenditure.
Final consumption expenditure of resident households is derived from final consumption
expenditure of households in the domestic market by adding the direct purchases resident
households make abroad and deducting the purchases non-resident households make in the
domestic market. Direct purchases made by resident households abroad and by non-resident
households in the domestic market cover expenditure by individuals such as diplomats and
military personnel and by individuals who visit foreign countries as tourists, seasonal or border
workers for a period of less than one year. Outlays of individuals who are travelling on business
and whose expenses are reimbursed by their employers should not be included, as they are part
of the intermediate consumption expenditure of the employers.
Gross Fixed Capital Formation
Gross Fixed Capital Formation consists of additions to the assets of producers of tangible
reproducible goods that have an expected lifetime of use of one year or more. The producers in
question may be industries, producers of government service and producers of private non-profit
services to households. The capital goods may be purchased or produced on own account. Sales
less purchases of second-hand fixed assets and sales of scrapped fixed assets by producers should
be deducted from gross fixed capital formation. Gross fixed capital formation covers the following
items:
Acquisitions by producers for civilian use of tangible assets which have an estimated lifetime of use of one year or more, except land, mineral deposits, timber tracts and similar non-reproducible tangible assets. Relatively inexpensive durable reproducible goods, such as certain types of office equipment, may on practical grounds be excluded. Government outlays on construction machinery and durable equipment primarily intended for military use are classified as intermediate consumption rather than gross fixed capital formation.
Outlays on improvements and alterations of capital goods that significantly extend their expected lifetime of use or substantially increase their productivity are considered to be gross fixed capital formation.
Outlays on the reclamation and improvement of land, on the development and extension of timber tracts, mines, plantations, orchards, and similar agricultural holdings are included in gross fixed capital formation.
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Purchases and breeding of draught animals, breeding stock, dairy cattle and sheep and other animals raised for wool and hair clips should be treated as acquisitions of fixed assets.
Dealers’ margins, solicitors’ fees, stamp duties and other transfer costs of transactions in land, mineral deposits, timber tracts and similar non-reproducible assets in tangible non-financial assets and in second-hand assets are covered in gross capital formation.
Changes in Inventories
Changes in inventories is equal in principle to the market value at the owning
establishment of the physical change during a period of account, in stocks of materials, supplies,
work-in-progress except on construction projects, finished products, livestock raised for slaughter
and merchandise held by resident industries and in stock of strategic materials and emergency
stocks of important products held by government services. In practice, the closest feasible
approximation may be the difference between the levels of these stocks at the beginning and the
end of the period, both valued at approximate average prices ruling over the period.
Exports and Imports of Goods and Non-Factor Services
Exports and Imports of Goods and Non-Factor Services consists of the transactions in
goods and services of the residents of a given country with the rest of the world, and covers
merchandise, transportation, travel, insurance and other non-factor services, such as government
transactions, various fees, rentals, royalties and gifts in kind. Military equipment transferred
between governments may be unrecorded. Expenditure abroad by residents such as tourists and
other persons, seasonal workers and diplomatic and military personnel stationed abroad are
treated as imports. Similarly, expenditures in the domestic territory by non-residents are
considered exports. The valuation of exports and imports is f.o.b.
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SOURCES AND METHODS OF ESTIMATING THE GROSS VALUE-ADDED
This section provides an overview of the classification of sources of information and the
methods and concepts used to compile the gross value-added for each classification of
economic activity. The section also describes and explains the distinction among sectors,
industries, enterprises, establishments and key-of-activity units.
Classification of Sources of Information
Institutional Units
An institutional unit is an economic entity that is capable, in its own right, of owning
assets, incurring liabilities and engaging in economic activities and in transactions with other
entities. There are two main types of units in the real world that may qualify as institutional units,
namely persons or groups of persons in the form of households, and legal or social entities. A
legal or social entity is one whose existence is recognised by law or society independently of the
persons, or other entities, that may own or control it. The institutional units are grouped together
to form institutional sectors, based on their principal functions, behaviour and objectives.
Institutional Sectors
The institutional sectors of the SNA group together similar kinds of institutional units (See
Box 3). Corporations, non-profit institutions,, government units and households are intrinsically
different from each other in that their economic objectives, functions and behaviour are different.
The total economy is defined as the entire set of resident institutional units. The resident
institutional units that make up the total economy are grouped into five mutually exclusive
institutional sectors (See Box 3). Sectors are groups of institutional units and the whole of each
institutional unit must be classified to one or other sector of the SNA. Dividing the total economy
into sectors enhances the usefulness of the accounts for purposes of economic analysis by
grouping together institutional units with similar objectives and types of behaviour.
Industry
An industry consists of a group of establishments engaged in the same, or similar, kinds
of activity, whether the institutional units to which they belong are market producers or not.
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Establishment
Establishments are designed to be units that provide data that are more suitable for
analyses of production in which the technology of production plays an important role.
Production Unit
Production consists of processes or activities carried out under the control and
responsibility of institutional units that use inputs of labour, capital, goods and services to produce
outputs of goods and services. Any such activity may be described, and classified, with reference
to various characteristics, for example:
type of goods or services produced as outputs
type of inputs used or consumed
technique of production employed
ways in which the outputs are used
The principal activity of a producer unit is the activity whose value-added exceeds that of
any other activity carried out within the same unit. A secondary activity is an activity carried out
Box 2: Classification of Institutional Sectors
Non-financial corporations are institutional units that are principally engaged in the production of market goods and non-financial services.
Financial corporations are institutional units that are principally engaged in financial services including financial intermediation.
General government consists of institutional units that, in addition to fulfilling their political responsibilities and their role of economic regulation, produce services (and possibly goods) for individual or collective consumption mainly on a non-market basis and redistribute income and wealth.
Households are institutional units consisting of one individual or a group of individuals. All physical persons in the economy must belong to one and only one household. The principal functions of households are to supply labour, to undertake final consumption and, as entrepreneurs, to produce market goods and non-financial (and possibly financial) services. The entrepreneurial activities of a household consist of unincorporated enterprises that remain within the household except under certain specific conditions.
Non-profit institutions serving households (NPISHs) are legal entities that are principally engaged in the production of non-market services for households or the community at large and whose main resources are voluntary contributions.
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within a single producer unit in addition to the principal activity and whose output, like that of
the principal activity, must be suitable for delivery outside the producer unit. The value-added of
a secondary activity must be less than that of the principal activity. In order to obtain groups of
producers whose activities are more homogeneous, enterprises have to be partitioned into
smaller and more homogeneous units. These are kind-of-activity unit, local unit and
establishments. See Box 4 for a description of these units.
Box 4: Classification example applied to Antigua and Barbuda
In Antigua and Barbuda, an example of these classifications would be:
Sector – Non-Financial Corporation
Industry – Wholesale and Retail Trade
Kind-of-activity unit – Hadeed Motors Ltd., belonging to the Enterprise – Hadeed
Group of Companies. Principal activity is sale and servicing of motor vehicles
Box 3: Types of Production Units
A kind-of-activity unit is an enterprise, or a part of an enterprise, that engages in only one kind of productive activity or in which the principal productive activity accounts for most of the value-added. By definition, each enterprise must consist of at least one kind-of-activity unit.
A local unit is an enterprise, or a part of an enterprise, that engages in productive activity at or from one location.
An establishment is an enterprise, or part of an enterprise, that is situated in a single location and in which only a single productive activity is carried out or in which the principal productive activity accounts for most of the value-added. Establishments are sometimes referred to as local kind-of activity units (local KAUs).
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Methods Used to Estimate the GVA by Economic Activity
AGRICULTURE
Agriculture comprises of agricultural crops, livestock, forestry and fishing sub industries.
The gross value-added is estimated using the production approach.
Other Crops
The Ministry of Agriculture has been unable for a number of years to
provide data on crop production; area cultivated and harvested; or yield rates for
the various crops produced on the island. There are plans for the Department of
Agriculture to start collecting the relevant data but the staff will need to be
trained and additional funding is required. Since no information is available on
crop production; output was estimated based on discussions with senior
agricultural officers and anecdotal information available. Intermediate
consumption consists of expenditure on fertilizers, insecticides, seeds, the cost of
maintaining and repairing machinery and equipment, fuel, and the purchase of
small tools, bags, twine and other minor items. It was estimated at 26 per cent
of the gross value of output. For constant price estimates, the value of output
was deflated using the CPI for fruit and vegetables to derive the value of output
in constant prices. A volume index was derived and used to extrapolate the base
year value added estimate.
Livestock
Data on livestock, chicks, eggs and local poultry meat production were
collected from the Ministry of Agriculture. Estimates for livestock production
were obtained from the Livestock Division within the Ministry of Agriculture. The
cost of inputs (imported livestock feed, locally produced livestock feed, veterinary
services etc.) was estimated at 15 per cent of the output of livestock (goats,
sheep, pigs etc.) The gross value added for livestock was computed as the value
of output of production of livestock less the value of inputs. The gross value
added for poultry was computed as the gross value of output of eggs and poultry
meat less the value of inputs which consists of imported and locally produced
poultry feed and repairs and maintenance and other costs. The inputs were
estimated at 30 per cent of the output of eggs and poultry. The total value added
for livestock in current prices is equal to the gross value added for livestock plus
the gross value added for poultry. To derive the constant prices, the base year
price is used to estimate the value of output in constant prices; a volume index
was derived and used to extrapolate the base year value added estimate.
Forestry
The Forestry sector in Antigua and Barbuda is almost non-existent.
Detailed information on charcoal production was and continues to be difficult to
obtain. It was decided that the estimates from the previous series would be
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utilised in the new rebased series as this activity was too small to make any
significant impact on the overall agricultural industry.
Fishing
Data on fish landed by fishermen were obtained from the Fisheries
Division within the Ministry of Agriculture. The quantity and price of fish landings
were provided. The gross value-added in current prices for fishing was computed
as the gross value of output for fish landed less the total inputs which consisted
of fuel, tackles, oil etc. This was estimated at 30 per cent of the Output. To derive
the constant prices, the quantity of fish landed was revalued using the base year
price and a volume index of output in constant prices was used to extrapolate the
base year value-added estimate.
MINING AND QUARRYING
The value of output for mining and quarrying comprised mainly of the value of the output
of stone and sand. The current price estimates were derived from the ASEA and from the annual
gross wages obtained from the Social Security Board which were adjusted to account for
employer’s contribution. The gross value-added in current prices was computed as the value of
output less the value of input. A composite price index consisting of average prices for stone and
sand was compiled to deflate the gross output, which was then used to extrapolate the base year
value added to derive the constant prices. The production of concrete blocks and other concrete
products are included in manufacturing,
MANUFACTURING
The manufacturing activities include production of dairy products, bakery products, other
food products; bottled water, soft drinks, beer, wine and spirits; wood products; printing and
publishing; paints; concrete products; fabricated metal products; and furniture, jewelry and other
manufacturing. The current price gross value added estimates are compiled by extrapolating the
benchmark estimate using the change in output values based on ASEA data, VAT sales and IRD
financial statements. A combination of price indices for deflation and volume indicators are used
to extrapolate the 2006 gross value added to derive the constant price estimates. For example,
the CPI for food is used to deflate the GVA for all food manufacturing.
ELECTRICITY AND WATER
Electricity includes activities related to the production, transmission and distribution of
electricity, while the water covers activities related to the collection, purification and distribution
of water. The main sources of information were the financial statements of Antigua Public
Utilities Authority (APUA), Antigua Power Company (APC) and Enerserv Ltd.
Electricity
The current price estimates for electricity supply were based on an
analysis of the financial statements of these establishments. The gross value-
added was computed as the value of output less the intermediate consumption.
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The constant prices estimates were derived based on a volume index consisting
of Kilo Watt Hours (KWH) units billed to different categories of consumers.
Water
The current price estimates for water supply were based on an analysis
of the financial statements of the enterprises. The gross value-added is the value
of output less the intermediate consumption. The quantity of water produced
each year was used to form a volume index to extrapolate the base year value-
added to derive the constant prices.
CONSTRUCTION
The construction industry covers general construction activities such as altering and
repairing structures as well as sub-contractors engaged in only part of the work on a construction
project such as repairs, painting, and plumbing. Also included are excavating and foundation work
and establishments and households undertaking own account construction.
The current price estimation for the construction industry is based on the commodity-
flow approach. A range of construction materials were extracted from the external trade
statistics. The c. i. f values of net imports used for construction were adjusted upwards for duty,
VAT, trade and transport margins. The value of domestic production of construction materials
was added to the value of net imports of construction material. Adjustments were made to
exclude construction materials utilised for manufacturing purposes. The resulting estimates is
intermediate consumption that was then used to derive the gross output and value-added for the
industry. For the constant prices, an index of the cost of construction was used to deflate the
gross value of output. A volume index of the deflated gross output was then used to extrapolate
the base year value added.
WHOLESALE AND RETAIL TRADE
The wholesale and retail trade industry included all areas of wholesaling and retailing
activity, including bulk distribution of products within the country. The annual current price
output estimates for wholesale and retail trade are compiled by extrapolating the benchmark
estimate using the movement in VAT sales for traders as a value indicator. The trade margin to
cost of goods sold is around 72 percent. The All Items CPI is used to deflate the current price
value estimates to derive the constant price output estimates. The BM 20 percent I/O ratio is
applied to the output estimates to derive the IC and GVA estimates. As most wholesalers also
sell retail and some retailers sell in bulk, it is not feasible to separate the two types of traders.
HOTELS AND RESTAURANTS
This industry includes the activities of all registered accommodation establishments such
as hotels, guesthouses and other paid accommodation and restaurants operating in the country.
Hotels and Restaurants
The gross value-added in current prices was derived by analysing the
accounts of the hotels and restaurants obtained by the annual national accounts
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survey. Fixed ratios (51.6 percent for accommodation and 13.2 percent for food
and beverage services) are applied to total tourist expenditure, along with the CPI
for meals away and population growth for resident expenditure is used to
compile the annual current price estimates for accommodation and food service
activities up to 2014, with VAT sales used from 2015 onwards. The stay-over
tourist numbers by length of stay (i.e., bed nights) is used to derive the constant
price estimates for accommodation services, with resident population used as a
volume indicator to derive the constant price estimates for food service activities.
TRANSPORT, STORAGE AND COMMUNICATION
The Transportation, Storage and Communication industry covers the activities related to
the provision of transport, storage and communication services. The gross value-added in this
industry was derived by estimating the value-added from each of the following sub-groups; road
transport, sea transport, air transport, supporting and auxiliary transport activities and
communication, which consist of postal and courier services and telecommunication services.
Different methods were applied for each category of transport as outlined below.
Road transport
This group of economic activities includes the transport of passengers
and freight via road. Data on the number of taxis, buses, trucks/pick-ups and
tour buses are available from the licensing department. The current price value
estimates for road passenger transport by tourists are compiled by multiplying
the (5. 9 percent of total tourist expenditure) land transport expenditure per
tourist by the number of stay-over tourists. The resident passengers’ component
is derived by extrapolating the BM estimate using population growth to compile
the constant price value estimates and reflated using the average for CPI
transport components to derive the current price value estimates. A fixed 65
percent I/O ratio is used for the current price estimates. The total constant price
value of output is then deflated using the transport services CPI.
Sea transport
This group of economic activities includes the transport of passengers or
freight over water, whether scheduled or not. Also included are the operations
of cruise or sightseeing boats, ferries, water taxis etc. Some estimates of gross
value-added in current prices were computed by utilising data obtained from the
ASEA that were reported by the establishments in this industry. Data were also
sourced from the VAT records. The current price estimates for water transport
were compiled by extrapolating the BM estimate using VAT sales for Destinations
Antigua (a tour operator) as a value indicator, with the water transport CPI used
for deflation to derive the constant price value estimates.
Air transport
The estimates of gross value-added for this sub sector were calculated
from financial data obtained from the ASEA for local and foreign owned. The
Page | 82
estimates at constant prices were derived by constructing a composite index of
visitor arrivals and departures by air. This index was used to extrapolate base
year value added.
Supporting and auxiliary transport activities
This sub-group covers the activities of the Antigua and Barbuda Airport
Authority, the Antigua Port Authority, travel agencies, tour operators, shipping
agencies and cargo handlers. The estimates of gross value-added were calculated
on the basis of analysis of data obtained from the ASEA of selected
establishments. Data were also sourced from the Social Security Board on gross
wages and salaries and number of employees. Adjustments were then made to
include employers’ contribution to obtain the total compensation of employees.
Gross value-added in current prices was computed as the value of output less
intermediate cost. The overall value-added is the summation of the value-added
for each sub group. Constant prices were derived for each sub-group by using
data on cargo loaded and landed and passenger arrivals and departures by air to
form various volume indexes. These indexes were used to extrapolate the base
year value-added to obtain the constant prices. The overall value-added is the
summation of the value-added for each sub group.
COMMUNICATIONS
The Communication industry comprises economic activities of telecommunications,
postal and courier services. These are described below.
Telecommunication
This group of economic activities includes telecommunications, national
postal activities and courier services. In the case of telecommunications, the
gross value-added at current prices was estimated on the basis of data obtained
from the ASEA and IRD financial data. For constant price estimates, a composite
index comprising of rates per minute for international and domestic calls for fixed
line telephones and mobile phones was constructed. Weights were assigned to
the different types of communication. Average cable rates from the CPI were also
used to form a price index. These indexes were used to deflate the gross output
for the relevant sub-group. The gross value-added at constant prices was derived
by extrapolating the base year value-added with a volume index of the deflated
value of output.
Postal and Courier Services
The gross value-added at current prices was estimated on the basis of
data obtained from the ASEA and IRD financial data as well as other
administrative data. A price index consisting of local and overseas rates for
postage of a letter was used to deflate output. The gross value-added at constant
prices was derived by extrapolating the base year value-added with a volume
index of the deflated value of output.
Page | 83
FINANCIAL INTERMEDIATION
Financial intermediation include activities from production units in banks and other
financial institutions, insurance and pension funding and activities auxiliary to financial
intermediation.
Banks and other Financial Institutions
This group of economic activities covers the activities of commercial
banks and other banks which receive deposits transferable by cheque or
otherwise used in payments or available on demand, savings and loan
associations, credit societies and industrial development banks. Data on banking
activities are obtained from the ASEA, IRD financial statements, ECCB, and from
the statutory returns of financial institutions to regulatory agencies. Output and
costs are estimated directly from these returns and used to calculate the gross
value-added estimates in current prices. The constant price estimates were
derived by deflating the average stock of loans and advances by the CPI to derive
a volume index of loans and deposits. A margin rate was applied to the deflated
value of loans and advances to obtain FISIM on loans and deposits at constant
prices. The output of banks at constant prices was obtained from the summation
of FISIM and explicit charges in constant prices. A volume index of the output of
banks was formed to extrapolate the base year value-added to derive the
constant prices.
Insurance and Pension Funding
This group of economic activities covers both life and non-life insurance.
The gross value-added estimates were derived from data provided by the ASEA
and from returns provided to the regulatory authority. Gross value-added in
current prices was computed as the value of output less intermediate
consumption. Estimates for constant prices for non-life insurance were compiled
using the average rates for vehicles insurance and property insurance and
assigning weights to vehicle and property insurance, to obtain a composite index.
The current price estimates of output were deflated by the composite index to
derive the output at constant prices, which was then used to extrapolate the base
year value added. For life insurance, the constant price estimates were derived
by using a volume index of number of life insurance policies issued.
Activities Auxiliary to Financial Intermediation
Included in this group are economic activities related mainly to offshore
banking. The FSRC data on financial fees collected from offshore banks are used
to derive the current and constant price estimates. For other financial services,
the current price estimates are derived from data provided by the ASEA, IRD
financial statements and SSB earnings data. Output and costs are estimated
directly from these returns and used to calculate the gross value-added
estimates. The number of employees within this industry are used to form a
Page | 84
volume index to extrapolate the base year gross value-added to derive the GVA
in constant price estimates
REAL ESTATE, RENTING AND BUSINESS ACTIVITIES
The Real Estate, Renting and Business Activities industry is divided into five sub-groups
namely: owner-occupied dwellings; real estate; renting of machinery and equipment; computer
and related services; and business services.
Owner Occupied and Rented Dwelling
The current price estimates are developed by benchmarking the
population and housing census 2001 data on dwellings. The rental value of
tenant‐occupied housing and the imputed rental value of owner‐occupied
housing are both part of housing services, reflecting the amount of money
tenants spend for the service of shelter and the amount of money owner
occupants would have spent had they been renting. Value-added for owner‐
occupied housing is calculated as the imputed output of housing services less the
expenses associated with owner‐occupied housing, such as maintenance and
repairs.
The average rental value is observed for each geographic area, and an
overall average is applied to the housing stock. The stock is identified into owners
occupied and rented units. The rental value is moved by the CPI for housing, and
is applied to the dwelling stock to derive the value of output. A fixed ratio is
applied to arrive at the value-added in current prices. This procedure result in
value-added in current prices for both owner occupied and rented dwellings and
real estate activities. The constant price estimates were obtained from a volume
index consisting of the number of owner occupied and rented dwellings. This
index was used to extrapolate the base year gross value-added to obtain the
constant prices.
Renting of Machinery and Equipment
Data on VAT sales obtained from IRD were used to compute the gross
value of output. Gross value-added in current prices was estimated as a fixed
ratio of output. Constant price estimates were derived from deflating output
with a miscellaneous price index from the CPI. A volume index of the deflated
output was used to extrapolate the base year value added.
Computer Related Services
The gross value-added estimates were derived from VAT data provided
by the IRD. Data were also sourced from the Social Security Board on gross wages
and salaries and number of employees. The gross output was estimated based
on VAT data. Gross value-added in current prices was computed as a fixed ratio
of output. A price index consisting of average wage rate per employee was used
Page | 85
to deflate output. A volume index of the deflated value of output was used to
extrapolate the base year value-added to derive the constant price estimates.
Business Services
The Business Services group of economic activities include the services of
lawyers, accountants, management consultants, architects, photographic
studios, building cleaning activities etc. The gross value-added estimates were
derived from VAT data provided by the IRD. Data were also sourced from the
Social Security Board on gross wages and salaries and number of employees. The
gross output was estimated based on VAT data. Gross value-added in current
prices was computed as a fixed ratio of output. A price index consisting of
average wage rate per employee was used to deflate output. A volume index of
the deflated value of output was used to extrapolate the base year value-added
to derive the constant price estimates.
PUBLIC ADMINISTRATION, DEFENCE AND SOCIAL SECURITY
The Public Administration, Defence and Social Security group of economic activities
comprises activities associated with the administration of central government and the social
security operations.
Central Government
The gross value-added estimates in current prices were compiled from
Antigua and Barbuda Budget Estimates of Revenue and Expenditure using the
income approach that comprises of compensation of employees. Compensation
of employees includes personal emoluments, wages, allowances, overtime,
severance payments, honoraria and retiring benefits. Compensation of
employees also includes the value of the unfunded pension benefits, which is
actually a current transfer from general government to the household sector. This
value is included as an estimate of the imputed contributions due by government.
Currently data on the central government consumption of fixed capital (CFC) is
not available, and therefore is excluded from the GVA. The constant prices were
derived by deflating the current prices with a weighted index of the average salary
grades for public servants.
Social Security
The gross value-added was compiled from financial statements provided
by the Social Security Board. The GVA consists of the total compensation of
employees plus depreciation of the Social Security Board. Constant price
estimates were compiled from a volume index consisting of the total number of
employees. The GVA in the base year was then extrapolated by this index to
obtain the GVA in constant prices.
Page | 86
EDUCATION
Education is divided into public and private educational activities and includes primary,
secondary and tertiary institutions.
Public Education
Data on compensation of employees of the Ministry of Education were
analysed to derive the gross value-added that is based on the personal
emoluments paid to workers, and consist of wages and salaries, pensions,
gratuities, severance pay and back pay. Activities relating to education
administration were excluded from the calculation of GVA as it was already
included in central government. A weighted wage index is used to deflate the
current prices gross value added to compile the constant price estimates.
Private Education
The annual constant price estimates for private education were compiled
using student enrolment data as a volume indicator. The education CPI is used to
reflate the constant price estimates to derive the current price estimates. The
benchmark I/O ratio is used to derive both the current and constant price value
of output, IC and GVA estimates.
HEALTH AND SOCIAL WORK
This classification of economic activity includes activities associated with the delivery of
public health and private health services.
Public Health
Data on compensation of employees of the Ministry of Health were
analysed to derive the gross value-added that is based on the personal
emoluments paid to workers, and consist of wages and salaries, pensions,
gratuities, severance pay and back pay. Activities relating to health
administration were excluded from the calculation of GVA as it was already
included in Central Government. Gross value-added was compiled as the total
compensation of employees for health and for social work. Constant price
estimates were derived by deflating in current prices with a weighted salary
index.
Private Health
The SSB employment and earnings data are used as volume and value
indicators to compile the current price and constant price gross value added
estimates respectively.
OTHER COMMUNITY, SOCIAL AND PERSONAL SERVICES
This industry includes the economic activities of trade unions, sewerage and refuge
disposal, motion picture projection, beauty salons, barbershops, religious organisations, funeral
Page | 87
related services etc. The SSB earnings data and CPI for personal services are used to compile the
constant and current price estimates respectively.
PRIVATE HOUSEHOLD WITH EMPLOYED PERSONS
This industry includes the economic activities of households as employers of domestic
personnel such as maids, cooks, waiters, valets, butlers, gardeners, gatekeepers, chauffeurs,
caretakers, babysitters, tutors, etc. The product, which is self-consumed, is considered non-
market and assessed according to the cost of the personnel in the national accounts. These
services cannot be provided by companies. As this activity occurs in the household and forms
part of the informal sector, it is difficult to collect the required data directly, on an annual basis.
As a result, the main source of data was the records of Social Security Board. Data were obtained
on gross wages and salaries and number of employees. Adjustments were then made to include
employers’ contribution to obtain the total compensation of employees. The gross value-added
in current prices consisted of compensation of employees. Constant price estimates were
compiled from a volume index consisting of the total number of employees within each sub-
group. The base year gross value-added was extrapolated by this index to obtain the constant
price estimates.
FINANCIAL INTERMEDIATION SERVICES INDIRECTLY MEASURED (FISM)
In the SNA, FISM is an estimate of the value of the services provided by financial
intermediaries, such as banks, for which no explicit charges are made; instead these services are
paid for as part of the margin between rates applied to savers and borrowers. The supposition is
that savers would receive a higher interest rate and borrowers pay a lower interest rate if all
financial services had explicit charges.
The 1993 SNA calculated FISIM as the difference between property income receivable and
interest payable excluding the value of any property income receivable from the investment of
own funds. The 1993 SNA recognised that in practice it may be difficult to find a method of
allocating FISIM among different users and therefore, accepted that some countries may prefer
to continue to use the convention whereby the whole of the services are allocated to intermediate
consumption of a notional industry.
The 1993 SNA offers two ways of allocating FISIM to the relevant sectors. The preferred
method is to use a reference rate of interest, which is a theoretical concept. The annual reference
rate is the interest rate that people must be paid to persuade them to wait one year before
spending their income. The interest rates that are observed on the market are higher than the
reference rate because they include a risk factor. The second method of allocating FISIM is to use
relevant indicators. Relevant indicators are the total bank loans to a given sector and the total
deposits held by banks from that sector. Total loans are added to total deposits and each sector’s
share in total bank loans and bank deposits are used to allocate FISIM. The 1993 SNA recognises
that these two approaches may not be feasible for all countries because of data constraints.
In the case of Antigua and Barbuda, data on global FISIM was obtained from the ASEA of
financial institutions. The balance sheet data on total deposits and loans and advances were
Page | 88
obtained from the ECCB and were used in the allocation of FISIM. The sector distribution of
depositors and borrowers FISIM was allocated among households, non-residents, government
and businesses. In the allocation of FISIM, an assumption that banks provide the same amount
of service for each dollar loaned and deposited was made. This assumption was made to keep
the allocation simple, although it is known that FISIM margins vary among various assets and
liabilities. Thus the FISIM allocated to depositors should then be allocated among sectors
(household, government, non-residents and businesses) on the basis of their deposit holdings.
Similarly, FISIM allocated to borrowers should be distributed among the sectors on the basis of
outstanding loans. FISIM in constant prices was derived by deflating the average stock of loans
and deposits by the CPI to derive a volume index of loans and deposits and having the base year
margin rate applied to the deflated values of loans and deposits.
Page | 89
ANNEX A: ISIC Rev 3.1
International Standard Industrial Classification Of All Economic Activities (ISIC, Rev. 3.1)
Code Description
A Agriculture, Hunting and Forestry 01 Agriculture, hunting and related service activities
011 Growing of crops; market gardening; horticulture
012 Farming of animals
013 Growing of crops combined with farming of animals (mixed farming)
014 Agricultural and animal husbandry service activities, except veterinary activities
015 Hunting, trapping and game propagation including related service activities
02 Forestry, logging and related service activities
B Fishing
05 Fishing, aquaculture and service activities incidental to fishing
C Mining and Quarrying
10 Mining of coal and lignite; extraction of peat
11 Extraction of crude petroleum and natural gas; service activities incidental to oil and gas extraction excluding surveying
12 Mining of uranium and thorium ores
13 Mining of metal ores
14 Other mining and quarrying
D Manufacturing
15 Manufacture of food products and beverages
16 Manufacture of tobacco products
17 Manufacture of textiles
18 Manufacture of wearing apparel; dressing and dyeing of fur
19 Tanning and dressing of leather; manufacture of luggage, handbags, saddlery, harness and footwear
20 Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials
21 Manufacture of paper and paper products
22 Publishing, printing and reproduction of recorded media
23 Manufacture of coke, refined petroleum products and nuclear fuel
24 Manufacture of chemicals and chemical products
25 Manufacture of rubber and plastics products
26 Manufacture of other non-metallic mineral products
27 Manufacture of basic metals
28 Manufacture of fabricated metal products, except machinery and equipment
29 Manufacture of machinery and equipment n.e.c.
30 Manufacture of office, accounting and computing machinery
31 Manufacture of electrical machinery and apparatus n.e.c.
32 Manufacture of radio, television and communication equipment and apparatus
33 Manufacture of medical, precision and optical instruments, watches and clocks
34 Manufacture of motor vehicles, trailers and semi-trailers
35 Manufacture of other transport equipment
36 Manufacture of furniture; manufacturing n.e.c.
37 Recycling
Page | 90
International Standard Industrial Classification Of All Economic Activities (ISIC, Rev. 3.1)
Code Description
E
Electricity, Gas and Water Supply
40 Electricity, gas, steam and hot water supply
41 Collection, purification and distribution of water
F Construction 45 Construction
G Wholesale & Retail Trade; Repair of Motor Vehicles, Motorcycles & Personal & Household Goods
50 Sale, maintenance and repair of motor vehicles and motorcycles; retail sale of automotive fuel
51 Wholesale trade and commission trade, except of motor vehicles and motorcycles
52 Retail trade, except of motor vehicles and motorcycles; repair of personal and household goods
H Hotels and Restaurants
55 Hotels and restaurants
551 Hotels; camping sites and other provision of short-stay accommodation
552 Restaurants, bars and canteens
I Transport, Storage and Communication
60 Land transport; transport via pipelines
61 Water transport
62 Air transport
63 Supporting and auxiliary transport activities; activities of travel agencies
64 Post and telecommunications
J Financial Intermediation
65 Financial intermediation, except insurance and pension funding
66 Insurance and pension funding, except compulsory social security
67 Activities auxiliary to financial intermediation
K Real Estate, Renting and Business Activities
70 Real estate activities
71 Renting of machinery and equipment without operator and of personal and household goods
72 Computer and related activities
73 Research and development
74 Other business activities
L Public Administration and Defence; Compulsory Social Security
75 Public administration and defence; compulsory social security
751 Administration of the State and the economic and social policy of the community
752 Provision of services to the community as a whole
753 Compulsory social security activities
M Education
80 Education
N Health and Social Work
85 Health and social work
851 Human health activities
852 Veterinary activities
853 Social work activities
Page | 91
International Standard Industrial Classification Of All Economic Activities (ISIC, Rev. 3.1)
Code Description
O
Other Community, Social and Personal Service Activities
90 Sewage and refuse disposal, sanitation and similar activities
91 Activities of membership organisations n.e.c.
92 Recreational, cultural and sporting activities
93 Other service activities
P Activities of Private Households as Employers and Undifferentiated Production Activities of Private Households
95 Activities of private households as employers of domestic staff
96 Undifferentiated goods-producing activities of private households for own use
97 Undifferentiated service-producing activities of private households for own use
Q Extra-territorial Organisations and Bodies
99 Extra-territorial organisations and bodies
Page | 92
ANNEX B : ASEA
Telephone # Email Address
Address
1) Local company 3) Overseas company/partnership
a) Sole proprietorship 4) Exempt/permit company/partnership
b) Local Partnership 5) Non-profit institution/charitable organization
c) Limited Company/Incorporated 6) Other:
d) Other
2) Government enterprise (please specify)
1 6 To 12 6
Contact Name Position
Telephone # Date
Email Adress
Which of the following best describes the ownership of your establishment?
% of foreign ownership
(Please provide date)
Principal Business Activity
Please complete the following:
Please provide your contact details incase of further enquiries:
Data in this form refer to the period from
Example: Jan - 2015 To Dec - 2015 with comparisons for 2014
The period above refers to your 2015 and 2014 Financial Year, whether it be a fiscal or calendar year.
Ceased Operation Permanently The Dates Should Equal a 12 Month Period
SECTION I – GENERAL INFORMATION
Name of Establishment
statistics.survey@ab.gov.ag Statistics Division,
Antigua
Form: 1
Private and ConfidentialStatistics Act No. 13 of 1975
Aba Scotland-Kheang
(268) 562-7492
(268) 462-4775
Contact Person(s)
Please complete this form and return via email to mailbox no later than May 7, 2018. We recommend that you retain a copy of this
form to consult in the event of a query.
DO NOT COMPLETE THIS QUESTIONNAIRE WITHOUT REFERRING TO THE EXPLANATORY NOTES.
If you encounter problems completing this questionnaire or find it difficult to meet the due date, please contact us at:
The main purpose of the survey is to obtain information for the compilation of estimates of Gross Domestic Product. The COMPLETION
OF THIS QUESTIONNAIRE IS A LEGAL REQUIREMENT UNDER the Statistics Act and is therefore MANDATORY. All information
taken from this questionnaire will be kept strictly CONFIDENTIAL, used for statistical purposes only, and published only in aggregate form.
MANUFACTURING
This form covers establishments that extract, process, produce or substantially alter products and components, food and beverages; textile,
clothing and footwear; wood, paper and printing; chemical, plastic and rubber products; cement, concrete, glass and other non-metallic
products; metal products; electronic components; furniture and other products for sale or own final use.
ANNUAL SURVEY OF ECONOMIC ACTIVITY, 2017 AND 2016
ANTIGUA AND BARBUDA STATISTICS DIVISIONC : 10 - 33
Ref #:
Page | 93
Section II Sales and Other Receipts (EC dollars) (EC dollars)
Item 2017 2016
P1111 Sales, excluding excise and VAT paid by customers (sub-total) - -
P1110 Sales of goods manufactured
P1109 Sales of goods purchased for resale
P1108 Amount received for custom work and repair
P2000 Other Operating Revenue - -
P1610 Income from rental of builidng and equipment
P1615 Revenue from franchise fees, commission fees, royalties,
patents, copyrights, service chargesP1189 Other operating revenue
P3000 Non-operating revenue - -
D4001 Interest and dividends received
D7511 Grants, donations and subventions received
D7200 Casualty insurance claims received
D7600 Other non-operating income
Total Revenue - -
Section III Expenses2017 2016
D1111 Wages, salaries, benefits and employer's social contributions to
NIS, Pension schemes, health schemes, and others
D2111 Excise duties and non-refundable VAT
D2990 Other taxes and licences
K I000 Depreciation and amortization
D4009 Interest paid
D7520 Bad debts, net of recoveries, and donations
P2120 Cost of raw production materials, supplies and components
P2140 Cost of goods purchased for resale
P2160 Cost of other goods used (office supplies, stationary)
P2170 Cost of fuel used
P2214 Maintenance/repair of transport, plant and other equipment
P2220 Electricity and water
P2240 Building maintenance and repair
P2412 Transport and storage
P2420 Telecommunications, computer and information services
P2520 Financial charges and insurance premiums payable
P2610 Rental /lease of buildings
P2630 Rental/ lease of machinery, equipment and vehicles
P2810 Professional, advertising, administrative and support services
P2900 Other expenses
Total Expenses - -
Page | 94
Specify %:
Goods Services
2017 EC$
2016 EC$
Item Capital Expenditure As at End
2015
Plus
Acquisitions
Less
Disposals
As At End
2016
Plus
Acquisitions
Less
Disposals
As At End
2017
P5114 Buildings and
structures
P5115 Machinery and
equipment
P5116 Transport equipment
P5117 Other durables and
fixed assets
P5118 Cultivated biological
assets
P5119 Intellectual property
products
P5120 Computer software
and databases
P5300 Valuables
P5200 INVENTORIESOPENING
VALUE
CLOSING
VALUE
OPENING
VALUE
CLOSING
VALUE
P5201 Raw materials, purchased, components and supplies
P5211 Goods / Works in progress
P5221 Finished products
P5231
P5241 Other Inventories
P5200 - - - -
2017– June
Section IV Additional Information
What percentage of the income earned by your establishment, in your estimate, comes directly from exports and tourists?
Main country/market:
What was the total value of goods (c.i.f.) and services purchased directly from abroad?
Period Employees
How many persons were engaged in each of the categories below during the last pay period for the months of June and December?
Working
Proprietors
Unpaid
Workers
2017- December
2016 – June
2016 - December
Section V Stock of Existing Capital (EC Dollars)
TOTAL VALUE OF INVENTORIES
Thank You for Your Cooperation
Section VI Changes in Inventories (EC Dollars)2017 2016
Goods (inventory) purchased for resale (in same condition as
purchased)
Page | 95
P1111 Sales Income from the sale of goods produced by this establishment, net of any refunds and discounts given. Include
receipts from maintenance and repair of agricultural, industrial and commercial machinery and equipment.
D4001 Interest and dividends received Interest and dividends earned on business account.
D7511 Grants, donations and subventions
received
Current transfers and voluntary donations from businesses, government, households or from abroad.
P1610 Income from rental of buildings and
equipment
Income earned from the rental of buildings and equipment
P1615 Revenue from franchise fees,
commission fees, royalties, patents,
copyrights and service charges
Revenue earned from franchise fees, commission fees, royalties, patents, copyrights and service charges
P1189 Other operating income Income from other sources related to the business, e.g., exchange gain/loss, miscellaneous income, etc. Exclude
grants, donations and subventions received, gains or losses on the sale of fixed assets and bad debts recovered.
P7200 Casualty insurance claims received Icome received from casualty insurance claims
D7600 Other non-operating income Income from other sources related to the busniess, e.g. gain or losses on the sale of fixed assets
D1111 Wages, salaries, benefits and
employer social contributions
Gross cash payments to employees, including overtime payments, bonuses, fees, commissions, cost of living
allowances, vacation and sick pay. Include the employer's contributions to pension, insurance and other schemes
on behalf of employees, as well as the cost of meals, housing and other benefits not recovered from employees.
D2111 Excise duties and non-refundable
VAT
Excise tax, and non-refundable VAT payable.
D2990 Other taxes and licences Include business fees, business and professional licences, property taxes, vehicle licences, stamp duties and
other fees paid to government on behalf of the business.
K1000 Depreciation and amortization Includes the amount allocated during the reporting period to amortize the cost of acquiring long-term assets over
the useful life of the asset.
P2120 Cost of raw materials, supplies and
components
Consists of purchases plus opening stock less closing stock of materials, supplies and components during the
period.
P2140 Cost of goods purchased for resale Consists of purchases plus opening stock less closing stock of goods purchased for resale during the period.
P2160 Cost of other goods used Consists of purchases plus opening stock less closing stock of stationary, office supplies and other goods
used.
P2412 Transport and storage Local freight charges, postal and courier charges, local and overseas business travel.
P2420 Telecommunications, computer and
information services
Telecommunication costs, computer repairs, programming, Internet and other information services costs
P2520 Financial charges and insurance
premiums
Financial, banking and account fees and charges; and premiums payable for motor vehicle, property and marine
insurance. Include insurance of staff under D1111.
P2810 Professional, advertising,
administrative and support services
Include cost of legal, accounting, audit, advertising, marketing, architectural, management, technical, R&D,
administrative, janitorial, security, and other support services.
P2900 Other expenses Include medical expenses and other expenditures such as staff training, subscriptions, etc. Exclude bad debts,
extraordinary items and other non-current items of expenditure.
P5114 Buildings and structures Value of new and existing buildings and structures (e.g. telecom towers, bridges, dams, sea walls, major
drainage systems) acquired during the year, less disposals of existing buildings and structures. Include the value
of extensions and major renovations to existing buildings and structures.
P5115 Machinery and equipment Value of all new or second hand machinery and equipment, including accounting machines and computer
equipment; less disposals of similar items.
P5116 Transport equipment Value of all new or second hand transport equipment, less disposals of similar items.
P5117 Other durables and fixed assets Value of all new or second furniture, fixtures and furnishings and other durable goods acquired during the year,
less disposals of similar items.
P5118 Cultivated biological assets Value of improved land, acquisition of fruit trees, working livestock, etc.; less disposals of similar items.
P5119 Intellectual property products Expenditure on mineral exploration; technical or scientific research and development; entertainment, literary or
artistic originals; and other intellectual property.
P5120 Computer software and databases Value of all computer software and databases acquired or developed; less disposals of similar items.
P5300 Changes in valuables Value of changes in precious metals/stones, gold/silver jewelry, and other valuables between closing inventories,
less opening inventories.
P5200 Changes in inventories Value of changes in inventories between the closing inventories, less opening inventories.
EXPLANATORY NOTES
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