Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1697796992716.pdf (Dominica)
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:" I J ~ , .- ---- ..::.._--=-_ COl\1MONWEALTH OF DOMINICA NATION1.~L ACCOUN'IS Sl'ATISl' CS OF THE COMMONWEALTH OF DOMINICA 1.994-2003 CENTRAl; STATISTICAL OFFICE MINISTRY OF FINANCE ROSEAU, DOMINICA / = .. .. • • • TABLE OF CONTENTS PREFACE Definition of the components of the Accounts and Related Aggregates Notes on Methodology Analysis of the Performance of the Economy 2003 TABLES Gross Domestic Product by Economic Activity in Current Prices 1994-2003 Gross Domestic Product by Economic Activity in Constant Prices 1994-2003 Percentage Contribution of Gross Value Added by Economic Activity at Basic Prices in Current Prices 1994-2003 Percentage Contribution of Gross Value Added by Economic Activity at Basic Prices in Constant Prices 1994-2003 Rate of Growth of Gross Value Added by Economic Activity at Basic Prices in Current Prices 1994-2003 Rate of Growth of Gross Value Added by Economic Activity at Basic Prices in Constant Prices 1994-2003 Gross Value Added Deflators by Economic Activity at Basic Prices 1994-2003 Index of Gross Value Added by Economic Activity at Basic Prices In Current Prices 1994-2003 PAGE 1 8 13 10.
11 12 13 14 Index of Gross Value Added by Economic Activity at Basic Prices In Constant Prices 1994-2003 Expenditure on Gross Domestic Product in Current Prices 1994 - 2003 Rate of Growth of Gross Domestic Product by Expenditure in Current Prices 199 - 2003 National Accounts Aggregates in Current Prices 1994- 2003 Balance of Payments of Dominica 1997 - 2003 Selected Economic Indicators 1996 - 2003 CHARTS GOP in Current and Constant Prices 1994- 2003 Sectoral Contribution of Gross Value Added in Constant Prices 2003 Rate of Growth of GVA in Current and Constant Prices 1994-2003 Current Account Balance 1997 - 2003 Capital and Financial Account Balance 1997 - 2003 Balance of Payments overall Balance 1997-2003 24 25 26 27 28 29 30 31 32 33 34 35 • .. • , • PREFACE This is the tenth publication on National Accounts issued by the Central Statistical Office.
This issue provides estimates of Gross Domestic Product in current and constant prices at basic prices and also of expenditure on GOP at current prices, other accounting flows such as Gross National Income, and Gross National Savings.

Additionally, it includes the Balance of Payments components and some key economic indicators.
In presenting this report, the standard methodology adopted for the OECS countries which is broadly consistent with the revised United Nations System of National Accounts (SNA) has been used.

However, due to serious manpower constraints and other pertinent problems, the scope of the series has been greatly restricted.

Consequently, a number of the tables, which have been recommended in the SNA, are not here presented.
Compilation of the Balance of Payments estimates, which is undertaken with assistance from the Eastern Caribbean Central follows standard procedures recommended by the International Monetary Fund's (IMF) Bank, Balance of Payment Manual, fifth edition.

The material presented in this issue consists of revised National Accounts estimates for the period 1994 to 2003.

Substantial revisions were made to the series to incorporate the new base year of 1990.

Previously, 1977 was used as the base year.


In the process of revising the series, some changes were made to a few of the deflators as a means of improving on the quality of the estimates.

Also, revised Balance of Payments estimates are presented from 1996 to 2003.

Heavy reliance is being placed on an annual survey of establishments, which provides most of the source data for the compilation of these statistics.
The Central Statistical Office expresses sincere thanks to the many respondents who continually provide us with the relevant data.

In addition, the office would like to also express its gratitude to the relevant staff of the Eastern Caribbean Central Bank, who dedicatedly assisted us in the compilation of the National Accounts and Balance of Payments statistics.

.~\\.C-~ Chief Statistician Central Statistical Office .
• • • DEFINITION OF COMPONENTS OF THE ACCOUNTS AND RELATED AGGREGATES • • National Accounts compilation is a statistical procedure, which aims at providing a numerical summary of the many transactions taking place in an economy during a given period of time .

These transactions relate, in particular, to the production and use of goods and services, to the generation and use of income and to the transfers of income or capital between sectors of the economy.

The following notes.


concepts and definitions are presented here in order to facilitate an understanding of the statistical tables presented in this pUblication.

THE GROSS OUTPUT OF INDUSTRIES: This is equal to the gross value of goods and services produced within an establishment during the period.

In the case of units produced for the market, most of the goods produced during a period are usually sold during the same period.
The rest goes into the stocks of the producers either in the form of finished goods or as work-in-progress.

Work-in-progress includes partially processed.

fabricated or assembled goods.

but excludes partially completed construction works, which are included in gross fixed capital formation and in the sales of the construction industry.

The increase in the value of standing timber and crops, which is due to growth.

is excluded from gross output and work-in-progress.
Goods and services produced which are not intended for sale in the market, but are used for consumption or capital formation on own account are also covered in the gross output of industries.

INTERMEDIATE CONSUMPTION: This 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 that same 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 purchase's price.

intermediate consumption is estimated as the sum of purchased of inputs less changes in inventories of inputs.

In practice, GROSS VALUE ADDED (GVA) Gross value added is a measure of each producer's contribution to GOP.
It is a measure of the increase or newly created value generated by the production process in question, gross of any capital used up In the production process.

FINANCIAL INTERMEDIATION SERVICES INDIRECTLY MEASURED (FISIM) In computing the gross domestic product for the total economy, an adjustment is made for FISIM.

intermediation services indirectly measured.


FISIM is measured as the which is called financial lotal prcperty income receivable by financial interest payable, excludlnJ the value of any property Income receivable from the investment of their own funds; as such income does not arise from finanCial FISIM must be recorded as being dispose·j of in one or more of the following ways - as intermediate consumption by enterprises, as final cor 3umption by households or exports to non-reSidents In practice.
because of Ihe difficulty intermediaries minus their total intermediation in allocating this output among various recipients or users of the services, for which no explicit charges are made, we have continued to use the convention proposed in the 1968 version of the SNA whereby the whole of the output is recorded as intermediate consumption of a notional •industry.
COMPENSATION OF EMPLOYEES: This 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, their in respect of family allowance, casualty employees, insurance, life insurance and similar schemes.
to social security schemes and to private pensions, (1) Wages and Salaries: This is defined to include all payments which employees receive in respect of their work whether in cash or in kind, and before deductions to Social Security, Income Tax, etc.
Included are: • • (a) Commissions, overtime payments (b) Tips (c) Bonuses (d) Cost of living and dearness allowances (e) Fees to ministers of religion (f) Fees to members of boards of directors (e) Holidays and paid vacations 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 which are of clear and direct benefit to the employees as consumers.
Excluded from wages and salaries are expenditure by employers which are of benefit both to the employees and the employers.

Examples of these are outlays on: (a) Medical Examinations (b) Sport and other recreational facilities (c) Amenities at place of work (d) Reimbursement of expenses for travel and entertainment (e) Reimbursement of expenses or provision of uniforms.

tools and equipment.

(2) Employers Contribution to Social Security Schemes: This concept is self-explanatory.
(3) Employers' contribution to Private Pension Funds etc.

is defined as This schemes in respect of maternity leave, pensions etc.
contributions family allowances, to private funds, reserves or other special lay-off and severance pay, casualties and The System of National Accounts (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 employers' contrrbutlon to private schemes.
• • THE OPERATING SURPLUS/MIXED INCOME: to the excess of the value added at producer's prices over the sum of This is equivalent compensation of employees, taxes net of subsidies on production and imports and allowances for the consumption of fixed capital.

If a strict income approach to estimating 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 and income approaches to estimation is used, value added is computed as the difference between gross output and intermediate consumption, while 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 of deficit from production before taking into account interest and land rents payable by the establishments, 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 business.
CONSUMPTION OF FIXED CAPITAL: This 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, foreseen obsolescence and the normal rate of accidental damage.

Unforeseen obsolescence, major catastrophes and the depletion of natural resources are not included in consumption of fixed capital.
TAXES ON PRODUCTION AND IMPORTS: These are defined as compulsory, unrequited payments to Government, which industries treat as part of the cost of production.
They include import and export duties, excise, sales, entertainment and turnover taxes, real estate and land taxes, unless they are merely an administrative device for collection of income tax, levies on value added and the employment of labour (but not social security contributions), motor vehicle, driving test, license, airport and passport fees when paid by producers, but are considered to be compulsory fees, fines and penalties when paid by the Household sector.
The SNA no longer use the term indirect taxes rather it is now called taxes on production and imports.

SUBSIDIES: These are all grants on current account made by Government to private industries and public corporations, and 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, which 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: • • This is defined as the value of gross output of Producers of Government Services less the value of its commodity and non-commodity sales and the value of its own-accounts capital formation.
The gross output is equal to the cost of production, that is, the sum of intermediate consumption of goods and services, compensation of employees, consumption of fixed capital and corresponding net taxes on production.

The Government final consumption expenditure, consists therefore of the purchase of goods and services, and expenditures on compensation of employees less the revenue received from sales.

Sales do not include fees and charges that are levied by Governments for regulatory purposes.
Examples are payments of driving tests, vehicle licenses, driving permits, 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: This 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 households of consumer durables such as furniture, radios, and automobiles are all included in Private Final Consumption Expenditure.

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 estate industry and is also included in the final consumption expenditure of households.

GROSS FIXED CAPITAL FORMATION: This consists of additions to the assets of producers of tangible reproducible goods, which have an expected lifetime of use of one year or more.

The producers in question may be industries, producers of Government services 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 fixes assets by producers should be deducted from gross fixed capital formation.

Gross fixed capital formation covers the following items: (I) Acquisitions by producers of 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 Government outlays on construction and machinery and durable equipment primarily intended for military use, are classified as intermediate consumption rather than gross fixed capital formation certain types of office eqUipment may on practical grounds excluded.
(ii) Outlays on improvements and alterations of capital goods, which significantly extend their expected lifetime of use or substantially increase their productivity, are considered to be gross fixed capital formation.

(iii) Outlays on the reclamation and improvement of land, on the development plantations and similar agricultural holding are included in Gross Fixed Capital Formation (iv) 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 acquisition of fixed assets.

(v) Dealer's margins, solicitors' of transactions in land, mineral deposits, timber tracts and similar non-reproducible assets in tangible in non-financial gross capital formation.
second-hand covered transfer assets assets stamp duties costs other fees, and and are in CHANGES IN INVENTORY: This is equal in principle to the market value 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 end of the period, both valued at approximate average prices ruling over the period.
EXPORTS AND IMPORTS OF GOODS AND NON·FACTOR SERVICES: This 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 rentals royalties, gifts in kind etc.

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 are f.o.b.

transactions, various fees, GROSS VALUE ADDED AT BASIC PRICES: taxes less subsidies on production and operating surplus.

This pertains to the value of all goods and services produced in an economy within a given time It is equal to the sum of compensation of employees, consumption of period of usually one year.
An over-riding fixed capital, 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, which it has receive from other units, at home or abroad.

GROSS DOMESTIC PRODUCT AT MARKET PRICES: This is equal subsidies on imports plus all non-deductible VAT or similar taxes.
to the sum of the Gross Value Added of all resident producers, plus taxes less GNI AT MARKET PRICES: Gross National Income at market prices is the value of the goods and services produced by the It is derived by adding net factor income labour and capital supplied by residents of a country.

from the rest of the world to GDP at market prices.

GNI to GNP as was used previously in National Accounts.
is identical NET INCOME FROM THE REST OF THE WORLD: This 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 of residents' abroad and non-residents in the country.

Net property and entrepreneurial income foreign financial claims such as interest and covers investment I.e.

profits and in a country, dividends.

dividends, could be remitted to foreign countries or left un-remitted.
The un-remitted portion is always treated as reinvested eamings.

income from ownership of The entrepreneurial foreign investment income of LABOUR INCOME AND WORKER'S 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 unrequited transfers.

Often when the distinction cannot be made labour income is aggregated with workers' remittances.
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 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 OF ESTIMATING GROSS DOMESTIC PRODUCT: The value added can be estimated by three different approaches, which 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 gross value of output.

The production approach is useful for estimation of 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 most commonly used in the case of service sectors, since data on gross output and intermediate consumption in the service sectors may not be readily available.
The expenditure approach is used to estimate the gross domestic product according to categories of final use.

This consists of estimates of expenditure of final consumption of households, consumption expenditure of Government, private non-profit services serving households and gross capital formation adjusted for imports and exports of goods and service.

, NOTES ON METHODOLOGY AGRICULTURE SECTOR This sector comprises of crops, livestock, forestry and fishing.
CROPS Estimates on production from crops cover output of thirty-one different crops of which bananas are the principles crop.

Other important agro-industrial crops are coconuts, grapefruits, limes, oranges and root crops-such as yams, dasheens and tannias.

Value added is estimated by the production approach.

The value of output consists of exports and local consumption, including subsistence, which vary from crop to crop.
The outputs of the various crops are estimated in consultation with the Ministry of Agriculture.

The farm-gate prices are obtained by adjusting export f.o.b.

and mar1<et prices for trade and transport margins.

These prices are checked for consistency with prices paid by the purchasers to the growers of these products.

The cost of material inputs consists of imported inputs such as seeds, fertilizers, pesticides and insecticides.

The c.Lf.
The c.Lf.

values of these imports are adjusted upwards to include duty, consumption tax and trade and transport margins.

Additionally, in consultation with the Ministry of Agriculture, local inputs of materials and costs of repairs and maintenance of agricultural machinery and tools are estimated at 10% of the value of output.

Production of all agricultural crops is re-valued at 1990 prices.
Imported inputs are deflated by an index of potassic fertilizer prices, and local inputs are taken to be 10% of constant price outputs.

LIVESTOCK The value added for livestock is estimated by the production approach.

The livestock Division of the Ministry of Agriculture provides estimates of beef, pork, mullon, poultry, meat, and eggs and milk production.

Estimates of meal production are based on slaughter permits and an upward adjustment is made for unrecorded slaughter.
Estimates on poultry and egg production are obtained from the major poultry farms.

These are crosschecked for consistency with the inputs consist mostly of imported estimates provided by the Ministry of Agriculture.

Material livestock feed, which amounts to about 25% of the gross value of output inputs are estimated at 5% or output The constant series is obtained by the double deflation method.

Local FORESTRY The value of output covers bamboo, wood.

firewood and charcoal.


The estimates are obtained in consultation with the Ministry of Agriculture Forestry Department Material inputs are estimated at 20% of gross value of output The constant price series is obtained by the double deflation method.

FISHING the Ministry of Agriculture Fisheries Division provided estimates of landed catch.

For fishing, Since December 1983, enumerators from the Ministry are collected in detailed monthly data on catch at major fishing ports.
Data are also obtained from the cooperatives.

For the previous years, output has been estimated on the basis of number of mechanized and non-mechanized boats and average catch per boat.

The Department of Fisheries conducted an ad hoc survey in 1981 and estimated that there were 350 mechanized and 259 non-mechanized boats in fishing and they caught 8,000 Ibs.

and 2,080 Ibs.

of fish per boat respectively.


The retail price of fish is taken as the producers' price since most of the fish is usually sold at the point of landing.

The inputs consist of expenses on fuel, bait, nets, repairs and maintenance or boats, etc.

material which amounts to 48.7% of for mechanized boats and 5.2% for non mechanized boats.

The constant price estimates are obtained by valuing output at 1990 prices and deducting input in the same proportion as in the current series.
the value of output ELECTRICITY AND WATER The value added in this sector is estimated by the Production and income approaches.

The main source of data is the financial statements of the electricity and the Water & Sewage companies.

The constant price estimates are extrapolated from the base year estimates on the basis of electricity sold and water supplied.

CONSTRUCTION The value added in construction is estimated by the commodity flow approach.
The estimates are essentially based on import data, since domestic output of construction material is negligible.

The c.Lf.

values of imports of construction material are adjusted downward for any re-exports and for non-construction purposes; and adjusted upwards for duty, consumption tax, and trade and transport margins.

The value of construction materials used as inputs is assumed to be 60% of the gross value of output.
This proportion has been derived on the basis of discussions with the Ministry of Communications and Works and private contractors For the constant price estimates, the deflator used is an index of c.U.

import prices of construction materials such as cement, wood iron and steel.

WHOLESALE AND RETAIL TRADE Value added in the trade sector is estimated by the income approach.

The main source of data IS the accounts of trading establishments available at the Inland Revenue Office.
The constant price estimates have been obtained by deflating the value added in current prices by the price index.

HOTELS AND RESTAURANTS The value added estimates are obtained by using both the production and income approach.

The main sources of data are the accounts at the Inland Revenue Office.
To cover small hotels and restaurants the above is adjusted by 5% The constant price estirTJates are derived by extrapolating the base year value added by an index of the total number of visitor arrivals MINING AND QUARRYING This is a relatively small sector and consists of only two private companies.

The output covers production of gravel, stone, pumice and sand.
Due to the lack of more comprehensive data for this sector, in recent years the value in Mining has been assumed to be about 10% of the value in construction in both current and constant prices.

MANUFACTURING Value added in the Manufacturing sector is estimated by the production and income approach.

The main sources of data are from the records of the Inland Revenue Office and the Annual National Accounts Survey Forms.
The constant price estimates are worked out by extrapolating the base year estimate on the basis of quantities of manufacturing output.

TRANSPORT The transports sector comprised of road transport, water transport and air transport.

ROAD TRANSPORT The estimates of value added are obtained on the basis of earnings per vehicle and number of vehicles.

The vehicles covered are hired trucks, buses, taxis, and hired jeeps, and their number is obtained from the licensing authorities.
The earnings per vehicle are obtained on the basis of inquiries from various operators.

The constant price estimates are extrapolated by the number of vehicles in each category.

WATER TRANSPORT The income approach is used to derive value added estimates for water transport, which are obtained from the accounts of port authority, shipping agents and lighter owners, and private shipping companies.
The constant price estimates are derived on the basis of VOlume of cargo traffic and passenger arrivals and departures by sea transport AIR TRANSPORT This sector covers L1AT, and air travel and airport administration.

The income of travel agents and airport administration has been obtained from their accounts.

The constant price estimates are based on the index of volume of passenger arrivals by air transport.
COMMUNICATIONS The estimates cover the operations of the Post Office and the telecommunications Company The accounts of the Post Office, which are available from the Government budget, are analyzed to obtain compensation of employees and the constant price estimates are based on the volume of postal traffic.

The accounts of the telecommunication companies for Dominica's operation are analyzed to obtain the value added In current prices.
The constant price estimates are based on the combined index of overseas call rates BANKING AND INSURANCE the The value added estimates are obtained by the income approach.

commercial banks, industrial bank, offshore banks, credit unions and insurance companies are analyzed to obtain the data.
For the banking sub-sector, the constant price estimates are based on the prime lending rate and credit union membership and for insurance the deflator was based on a combined index (85:15 weights), of car and property insurance rates.

The accounts of REAL ESTATE AND DWELLINGS The value added estimates for owner-occupied dwellings are calculated on the basis of number of houses and average rent per house.

One month's rent is subtracted as cost of repairs and maintenance.
The number of dwellings is projected on the basis of 1970, 1981 and 1991 population census data on housing and the growth of the population.

The rate of rent per house for the island as a whole is assumed to be half of the low cost housing as most of the houses is of low quality.

The value added at constant prices are derived first with population growth, and then inflated by the total Consumer Price Index to obtain current price estimates.
The constant price value added for 1979 has been adjusted downwards on account of destruction of houses by Hurricane David.

GOVERNMENT SERVICES • The value added at current prices is obtained from analysis of the data on actual expenditure available from the computer printouts.

The wages and salaries, pensions and gratuities comprise the post office, airport, broadcasting and compensation of employees.

construction are excluded and allocated to their appropriate sectors.
The major accounts in the government local government and Social Security Administration.

Fiscal year data of central and local governments are adjusted to correspond to the calendar year.

The constant price estimates are obtained by eliminating the effect of wage increase due to cost of living.
to central government, The operations of refer thus OTHER SERVICE legal firms, This sector covers business, entertainment and personal services, such as services of accounting firms, individual professionals, barbers and beauty salons etc.

Broadcasting and recently Cable TV have also been included.
The gross value added is obtained from data submitted on the Annual National Accounts Survey form and is supplemented with data obtained from the Inland Revenue records The constant price series is derived on the basis of population growth.

and the current price series obtained by inflating the above with the Consumer Price Index.
FININCIAL INTERMEDIATION SERVICES INDIRECTLY MEASURED intermediation services indirectly According to the recommendation of the UN SNA, the financial measured (FISIM), which consists of the difference between interest earned on loans and interest paid on deposits, have been deducted from the GOP in a single line, and not allocated to individual sectors.

The constant price estimates are obtained by using an average interest rate index extrapolating base year figures, as was the case for the Banking Sector.
• ECONOMIC ACTIVITY IN DOMINICA REVIEW OF 2003 Economic activity in Dominica reflected stability following two years of contraction of 5.1 per cent in 2002 and 4.2 per cent in 2001 (Table 2).

The improved oullurn was influenced in part by growth in the construction, hotels and restaurants, and road transportation sectors (Table 6).

real output contracted in the agricultural, communications, sea transport and However, Government sectors.
Central Government fiscal current account experienced marked improvement, moving from a deficit of EC$36.31m in 2002 to a surplus of EC$2.63m in 2003 the measures implemented under the stabilization and recovery reflecting the impact of program.

Over the year, consumer prices recorded an increase of 1.44 per cent following a 0.18 per cent increase in 2002.

AGRICULTURE For the year 2003, activity in the agricultural sector was weak primarily reflecting the developments in the banana industry.
Real value added in the agricultural sector fell for the seventh year in succession registering a decrease of 3.65 per cent in 2003(Table 6).

This performance was primarily on account of the sharp drop in the crop sub sector which registered a decline of 5.42 per cent in real value added.

For the period under review, total banana export revenue fell by 27.6 per cent while the banana exports revenue of the main exporter fell by 32.92 per cent.
This declining performance was largely attributed to the drop in acreage under cultivation, the decline in farmer population and the difficulties experienced in obtaining working capital for the purchase of inputs and replanting activities.

Nevertheless, banana exported to the Caribbean Market recorded an increase of 31.3 per cent in revenue indicating increased demand on the Caribbean markets.
Reflecting the poor performance of the banana industry, exports of non- banana agricultural crops registered a 9.5 per cent decline, largely due also to the difficulties of obtaining inputs.

Overall, agricultural crops export revenue fell by 19.08 per cent.

The live stock and forestry sub sectors both registered slight increases in real output of 1.2 per cent and 0.3 per cent respectively.
The fishing sector recorded a 2.1 per cent increase in real output, largely due to the increase emphasis on the training and utilization of Fish Aggregating Device (FAD) technology.. CONSTRUCTION, MINING AND QUARRYING Activity in the construction sector appeared to have been robust in 2003 followin9 contractions in the previous two years.

Real value added in this sector increased by 11.3 per cent compared to the significant decline of 256 per cent recorded In 2002.
This outtum was largely as a result of the higher level of activity in both the private and public sectors.

Private sector activity largely included the first phase of a hotel project, warehouse and car dealership buildin9S, expansion of institution and residential properties.
The Implementation of major pUblic major educational sector projects such as the Marigot Fisheries complex, sea defence, the Portsmouth secondary school and road rehabilitation were addition activity contributing to the positive performance of the sector For 2003 the number of construction starts stood at 117 with a value of 531 4m in comparison to 133 starts with a value of ECS32 77m in 2002 rehabilitation of MANUFACTURING For the year under review, economic activity in the manufacturing sector showed signs of recovery with real value added increasing by 0.64 per cent, following a contraction of 2.25 per cent in 2002 and 13.6 per cent decline in 2001.
The performance in this sector was due primarily to the increase in output of dental cream, beverages, paints and varnishes.

The increased output of beverages was underpinned by the production of bottled water by a local firm, and the commencement of the export of beers.

ELECTRICITY AND WATER Activity within the utility sector was estimated to have recorded a decline of 1.96 per cent primarily on account of the 2.35 per cent drop in electricity generated, despite the increase in water consumption.
The decline in electricity can be attributed to the efforts of consumers to conserve electricity reflecting the initiatives of the electricity company in promoting conservation practices.

WHOLESALE AND RETAIL TRADE Real value added in this sector increased by 3.58 per cent consumer demand ..

This performance appeared consistent with increases in imports.

largely reflecting increased BANKS AND INSURANCE SECTOR The banking and insurance sector recorded real growth of 2.8 per cent.
This growth was largely due to the increased activity in the construction, and transportation sector.

Analysis of credit by economic activity revealed a 6.9 per cent decline in lending to the agricultural sector, which reflected the contraction in activity in this sector.

In addition, the distributive trade recorded a 10.65 per cent decline in lending.

However, a 3.8 per cent increase in manufacturing sector and a 3.4 per cent increase in personal loans were recorded.
Notwithstanding, loans for durable goods and home and land purchase increased significantly.. GOVERNMENT SERVICES During the year under review the central government fiscal operations improved significantly.

largely underpinned by the imposition of measures associated with the stabilization and recovery programme.

Data revealed that the fiscal operations resulted in a current account surplus (after grants) of EC$2.5m in contrast to the deficit of EC$36.3m in 2002.
Supporting this performance is the reduced current expenditure in addition to an increase in current revenue.

In contrast, government's current This performance was primarily on account of For that same period.

Current expenditure fell by 105 per cent to EC$21.30m reflecting decreases in goods and services and personal emoluments.

Outlays on personal emoluments fell by approximately 9.0 per cent largely reflecling the 5.0 per cent cut in salaries and wages of public officers.
to EC$204.3m the sharp increases in accommodation taxes.

sales tax and consumption duty.

It must be noted that the increased rate of the sales tax from July 2003 from 50 per cent to 7.5 per cent, and the expansion of the base to include airline tickets sales contributed to the increase in sales tax revenue The Government services sector was estimated to have contracted by 1.6 per cent.

mainly a result in nomina!


wages of publiC servants and retrenchment of the public of the 5.0 per cent cut service work force.

revenue increased by 59 per cent HOTEL AND RESTURARNT - TOURISM SECTOR The tourism sector indicated signs of recovery with real value added increasing by 8.31 per cent compared to the 3.32 per cent drop registered in 2002.

Total visitor arrivals increased by 21.49 per cent to 206,963 visitors.
This growth was substantiated by the significant increases of 28.28 per cent in excursionists and 29.4 per cent in cruiseship visitors, while stay over visitors increased marginally by 5.43 per cent.

The number of visitors from the Caribbean which is the largest market grew by 7.4 per cent while the USA rose by 1.6 per cent.
TRANSPORTATION SECTOR Over the period January to December 2003, activity in the transportation sector was estimated to have expanded by 5.34 per cent after recording decreases in the last three consecutive years.

This performance was largely influenced by growth in the road and air sub sectors.

These sub sectors increased activity resulted from movements in the construction sector, and travel (cruiseship and tourists arrivals).
COMMUNICATION SECTOR For the fourth consecutive year, the communications sector was estimated to have contracted recording its largest decline ever of 19.46 per cent in 2003.
This performance can be attributed to decline in revenue, largely due to the loss of one of it's primarily revenue generating operations resulting from international competition and falling rates of international calls .. BALANCE OF PAYMENTS During the year 2003, the balance of payments statistics recorded an overall surplus of EC$6.36m compared to EC$31.9m in 2002.
This however was largely due to the lower level of inflows in the capital and financial accounts and the contraction in the current account deficit.

As a result of the larger number of travel receipts, the external current account improved, recording a deficit of EC$82.26m in 2003 compared to EC$1 0328m in 2002.

The capital and financial account surplus fell slightly moving from a EC$85.29m in 2002 to EC$82.87m in 2003.
This development was due in part to the drop in capital transfers and other investments.

However, foreign direct investment and land sales increased.
TABLE 1 COMMONWEALTH OF DOMINICA GROSS DOMESTIC PRODUCT BY ECONOMIC ACTIVITY IN CURRENT PRICES (EC$MILLlON) Sector 1994 1995 1996 1997 Agriculture Crops Livestock Forestry Fishing Mining & Quarrying 2003P Manufacturing 35.27 37.17 39.43 42.29 50.81 4930 54.44 45.13 44.54 4550 Electricity & Water 20.02 21.11 23.60 26.21 29.24 33.49 3392 36.05 38.66 34.40 Construction 40.83 4696 48.49 47.66 4627 48.96 52.19 5240 39.15 4586 55.99 13.38 4961 Wholesale & Retail Trade Hotels & Restaurants Transport Road Transport Sea Transport Air Transport \ 9.98 22.63 474 455 57.56 2836 2408 5.12 57.72 52.95 45.30 2976 2308 4.88 27.71 20.71 453 2264 16.66 4.00 17.01 47.45 2570 17.69 4(16 • Communications 3243 38.32 39.48 44.57 4946 52.12 4184 4434 3961 28.69 Banks & Insurance 55.03 5985 61 57 59.79 6573 6872 701\ 70.12 6461 6662 Real Estate & Housing 1729 1781 18.48 19 12 1988 2() 27 2088 2130 2182 22 ~~ Government Services 96.76 91 71 1(II) 93 103 83 1\287 1\651 12\ 69 12637 13303 12757 Other SerVices Less FISIM (17R 7.
(J) 8 II S 47 \)07 945 1/50 993 40.75 -h'l32 4-5 ()f) -D.S() 5193 52 \ I 5~ 98 5409 1041 51 5 j lJ ~I) r YI) GVA in Basic Prices 494.11(, 51111.

(,8 5J7.~(J 554.711 585.115 609.65 (, 2 1.


(,11 (,117.48 577.111 5811.\1 GROWTH RATE Plus Product Taxes Less SubSidies 8.26 1.34 7.35 3.20 5.r 4.211 1.9(, -2.27 -5JJ2 0.54 X' (,~ :J~ ()S I (III 1" 1(1(, ')j 1154() I 1~ \ 'I I II) 55 1'1 I 12 112.86 12""7il ~~n Market Prices 5X I 7 4 5')5 (" (l~ --, St1 (1(\ 1 (\l --:1-11.: "5 I :221':4 7~2 1j 71 X (1(1 (,;-;q ~ ..... 7t)!
4.1 Growth Rate 7.511 2.31) 7.01) 3.71 5.88 3.19 l. 21) -1.85 -~.I111 2.5:' TABLE 2 COMMONWEALTH OF DOMINICA GROSS DOMESTIC PRODUCT BY ECONOMIC ACTIVITY IN CONSTANT PRICES (EC$MILLlON) Sector 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 7331 Agriculture Crops Livestock Forestry Fishing Mining & Quarrying Manufacturing 27.15 2777 2944 3018 35.26 29.16 3132 2706 26.45 26.62 ElectricIty & Water 13.60 1444 15.52 1668 18.23 19 18 19.66 2030 20.43 2003 Construction 3260 36.76 35.66 35.05 33.60 34.86 36.97 3614 26.88 2991 Wholesale & Retail Trade 4902 50.66 52.94 54.26 55.65 57.02 58.45 5802 5502 56.99 Hotels & Restaurants 11.37 \ 1.66 11.03 11.25 10.80 1126 1\ 70 1083 1047 11 34 Transport 3972 4079 4309 4299 4452 Road Transport Sea Transport Air Transport 2277 23,23 24.16 21 52 2427 13.64 1 31 140\ 3.55 15.22 1465 3.71 3.82 16.59 366 4512 2428 \692 3.92 4468 2547 15.35 3.86 4223 n 71 148\ 309 3670 18 {:16 1938 13.60 372 2200 12.88 378 CommunIcations 1238 3X 26 3942 44.50 49.38 5559 53 1(, 4971 489i 3939 Banks & Insurance 49.5X 5J 73 52 80 5CI.56 5-l.02 Real Estate & HOUSing ] -1.2.1 1-1 -17 l-l ~() I·j ') \ 15 cll 58.31 ].5 50 1566 I' XI 5~ 46 Sf· 5-1 5327 5476 GDvernment Services 7205 7 I II') 72 I () ~-l 21 '833 7851
 1:'12 UI!
H577 Other Services Less FISIM ,17-1 .5 2X :5 50 .5 (; 1 S :-<~ 6 II \ :5 tJx () J-l .1(1 -1.1 41 4" _~( I (1'1 '"' CI ()(~ -1.

(J.25 -~(, -1.-1.

-p 37 51 1') 5289 4919 1596 88.75 642 1628 87.?~ 661 GVA in Basic Prices 403.84 4111.31 422.~4 431.30 443.24 450.47 ~S(I.J::i 437.3(, 410.15 414.~~ GROWTH RATE Plus Product Ta>:es Less SubSidies 2./5 .

-::'!

(I J.Ij() 3.li8 1.98 2.

7 ; l.fd 1.31 ·J.I (, ·5JN~ ·liJIJ 77 Xi .

~ 'J'i "< ~ 1"; X" -1.:-.


; :-<31d XI 1(, ~(: 11(1 81.20 91 09 GOP in Market Prices +-..; ~ [ 4,:-1:\ !

::: )1 I ,,' .

~] I 1:- '::;-;', I -2 )14 II ..; -; - :) I ~ l- '" j<)t\ )--\ '::;1(\ u:-; .

- Growth Rate UJ 2.

(,!\ !.SJ 2A') 11(, O.h-t IU,4 -3.:5 ·4.0(, I.
\)(, TABLE 3 COMMONWEALTH OF DOMINICA PERCENTAGE CONTRIBUTION OF GROSS VALUE ADDED BY ECONOMIC ACTIVITY AT BASIC PRICES IN CURRENT PRICES Sector 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003P Agriculture 2173 18.88 19.91 19.39 18.85 18.72 18.10 17.51 1769 17.90 Crops livestock Forestry Fishing 17.98 15.12 16.34 15.64 1S10 Mining & Quarrying 0.83 094 0.90 0.92 0.79 0.80 0.84 0.86 068 0.79 Manufacluring 7.14 7.42 7.34 7.62 868 8.09 876 743 772 7.84 Electricity &.
Water '-l05 422 439 473 500 549 5.46 5.93 6.70 5.93 Construction 8.26 9.38 902 8.59 7.91 803 8.40 8.63 678 7.91 Wholesale & Rel<lil Trade 11.33 11.71 11.59 11.79 ll.sa 11.51 JJ 68 12.08 1208 126-1 Hotels &.

Restaurants 2.71 3.01 275 2.7-1 1 65 2 tiS 2.73 ::' 63 2.68 29, Transport 10.04 10.21\ 10 13 I) 62 9A9 9 -1-1 9.29 X.72 785 8 IR Road Transpon 3.JM S -12 j 25 5 16 -I Mj ..j 65 -1.7 1) -1.56 J ')~ 4.-13 Sea Transpon 3.\)2 .1.97 -II).'
300 1 X7 Air Transport () 7-1 o 89 () Sh (J K5 o7M ,) q:; oX4 171 1 41 J 23 3 (i'5 11.79 U 75 069 070 Communlcalions () 5fi 7 ()) 7 15 11 D.I R -15 X 55 7 7n 7.1() () 116 -I 95 Banks &.

Insurance Ill·' II LJS 1141, )1' 7X II :J II r; l in II 54 11.23 II 48 Real Estate &.

H()lJSI1I0 ~ _~: 1 1 )1) J ,., -' -IS i -It!

1 ,2 ' 'II 1 5 I 3 7H 18·\ GO'l!~rnmef1t Ser,lIt;e5 !

'J ~~ 18 7: \ ~ -X 18 ': I') 2') I') 11 1') 5II :, 11 2 i <l(1 .

::!
::!

'it) O\hel SL'r'.ww~ - LG~~ FISlrI.·1 TOTAL , ;-;' :'I ~ ~ , ~ i - ) ~.

; i ~ I ,Ii .

; ~ , .

; : : ~~ , ~ ~ I q 1 f,3 1 XI!


I :-IS - 'ii ------- X \.\ ~ ~5 S',S S \)11 :; ,;; '\ ~i" IIHIIIII [11111111 11)11 (HI !l)lllill 111(1 UII 1II1I1IIf 111111111 [00 It It I W/.l II I 111(1110 TABLE 4 COMMONWEALTH OF DOMINICA PERCENTAGE CONTRIBUTION OF GROSS VALUE ADDED BY ECONOMIC ACTIVITY AT BASIC PRICES IN CONSTANT PRICES Sector 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003P Agriculture 2242 20.27 20.75 20.04 19.11 ]8.40 17.96 ]7.51 18.33 17.67 Crops Livestock Forestry Fishing 18.]
5 15.99 16.52 15.76 14.89 14.]

5 13.76 13.08 13.60 12.87 168 1.69 166 1.65 163 163 163 1.71 1.82 184 0.78 0.78 077 0.77 0.76 0.75 0.75 0.8 0.84 0.84 181 18] 179 185 183 1.87 183 193 2.07 2.11 Mining & Quarrying 08] 0.90 0.84 0.86 0.76 0.77 0.81 0.83 0.65 072 Manufacturing 6.72 6.77 6.96 7.00 7.96 647 6.86 6.19 6.37 641 Electricity & Water 3.37 3.52 3.67 387 4.]
] 426 431 4.64 492 483 ConstructIon 8.07 896 843 813 758 7.74 8.10 826 647 72] Wholesale & Retail Trade ]214 12J5 12.52 12 58 12.56 12.66 1281 13 27 1325 1373 Hotels & Restaurants H2 2.84 2 (11 2.61 2 -t~ 250 256 24g 252 2.73 Transport 9X4 l) 94 III 19 ~l.n IOll4 1002 '} 79 966 8.84 l) 32 Road Transport ~ 64 5.66 :' 71 :5 69 5 4~ 5.~l) 5 SS 543 -16' :5 10 Sea Transport l 38 :; --It -' 6{) 341) 3"4 1 ;r) 3 36 3 :W ~ 2S \.
HI Air Transport () ~2 \J 87 (1 SX Ii HI) () ~ ~ () S7 () S5 (J ~-1 () lj{) (I I) I Communlcatlon~ 8 112 lj .\2 () 32 )11 '2 II 14 12 '-\ I I (" 11 3: J I 7R l) -Ill Banks & Insurance 12 'S ]3 ()l) I' -IS i I ~, I' 12 12 i}.\ 1281 12 I)., 12 W, l3 ]1 J Real EstLltc & Housmg Government Service:.

- , 1 ~2 Ie .11 -' :" I .... n Other Scr,lce:.. - - - - - - - , - - - I I' 1 2 I ) \'1 3 -\t', , j , '44 -:; .jJ (1 I "\ .

~ ; ,,)(, , ;.

: .. 21 1 ' .


.. 1 ~ " I .. " , I ~ " 1 " I ~ .,~ ] 'I !\I I i i .. , i-I,! "
~-1 21 " I " 1 '12 21 I}i I ~ '/ L('''3 F:S~1I,' TOTAL .- , i II , - ,---,---------------_._.~ I , I; ]1' -; I , I i " - -_.., - - - - - - - - - - - i I "" I : -~ 12 ' , ]11(100 [On Uti \110110 !IIOJHl [OtJ 011 100 011 \00110 [00 no 100.00 1110 00 TABLE 5 COMMONWEALTH OF DOMINICA RATE OF GROWTH OF GROSS VALUE ADDED BY ECONOMIC ACTIVITY, AT BASIC PRICES, IN CURRENT PRICES (%) Sector 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003P Agriculture 9.52 -11.92 13.16 0.55 2.50 3.49 -1.38 -5.47 -4.06 1.75 Crops Livestock Forestry Fishing 10.00 -14.81 16.04 -1.24 1.88 3.73 -1.70 -7.14 -5.47 1.69 5.83 2.07 1.35 5.73 1.64 1.49 0.98 0.97 0.96 1.19 1.83 3.00 1.46 1.44 085 0.84 084 1.10 0.82 0.27 11 10 1.52 1.87 14.67 9.59 3.89 -1.22 1.42 1.40 313 Mining & Quarrying 18.60 1520 3.19 4.95 -9.04 5.83 6.53 0.38 -25.19 17.09 Manufacturing -602 5.39 608 7.25 20.15 -2.97 10.43 -17.10 -1.3\ 2.16 Electricity & Water 609 5.44 11.80 11.06 11.56 14.53 1.28 6.28 730 -11.07 Construction 18.86 15.01 3.26 -1.71 -2.92 581 6.60 0.40 -2529 17.14 Wholesale & Retail Trade 1167 470 6.78 4.96 356 3.66 339 1.10 -5.00 518 Hotels & Restaurants 6.53 1256 -1.
99 2.98 I 97 426 4.89 -5.72 -3.19 9.95 Transport 308 3.79 5.77 -2.02 4.07 3.66 o2~ -8.26 -14 .15 -L7S Road TrClnsport Sea Transport Air Transport 5.01 ,.

I -7 -2 .~ I I 99 4.02 I .

)9 -I O[ I) O...J.

.~ 9...J.

-6 ~() -IS.JO 1.,,52 :2 74 "I, .t7 S HI) -767 13 26 6.)

I -4 15 ·1017 -() 9() -520 291 30.1 -4 0 I 12 :"3 -4.69 .7.17 -II 71) 150 Communications :2 92 18 16 303 1289 10.97 5.3H -:-! ]
I - 732 -10 67 -27 5-; Banks & Insurance 8 03 R 7() 2 X7 -2 SlJ Y 4.\ ·+'55 ., OJ 1).01 -757 2.79 Real Estate & Housmg 3 h(> 3 () I .3 ""0 .'

~h .3 97 1% J .Ill :2 .lll ., ·1-·1 :2 u2 Government Services -- 11 15 -3 ).~ -; :!I ~ S7 871 .3 ," -l -l ~ 5.

It) :; h3 -4 II) Other Services -L~ 11-1 1~ ~(; (, {II 14·1 .., 11S -I ]lJ 0.:' .1 ~ :' ~ ·f ,s, 4"1_ L-:!ss FISiM TOTAL I ') I ~ t ; I) ~ _II -~ -·f .

;;- I S .tIl (I ~.

;; ... :") 8.:fl 1.i4 ~..15 ?

}O '.·r -I.

':0 1. lIt, IJ ..,() , ,- _.

- .


~ -q --- -11 \)l) __'.1}_1 fJ.

'i-l TABLE 6 COMMONWEALTH OF DOMINICA RATE OF GROWTH OF GROSS VALUE ADDED BY ECONOMIC ACTIVITY, AT BASIC PRICES, IN CONSTANT PRICES (%) Sector 1994 1995 1996 1997 199B 1999 2000 2001 2002 2003P Agriculture -3.72 -813 5.47 -1.49 -1.99 -2.14 -1.])
-<J.57 -0.65 -3.65 Crops Livestock Forestry Fishing -5.69 -10.47 651 -2.72 -2.93 -3.44 -1.44 -8.93 -1.26 -5.42 1.80 2.06 130 1.57 154 152 0.95 0.94 0.93 1.19 1.61 1.90 1.55 1.53 0.90 0.90 0.89 0.88 0.87 0.29 11.43 1.50 1.89 569 1.63 394 -1.18 1.44 1.42 2.10 Mining & Quarrying 7.24 12.88 -2.99 3.92 -9.43 3.87 6.02 -2.43 -25.48 11.15 Manufacturing -962 2.28 601 251 1683 -1730 7.41 -13.60 -2.25 0.64 Electricity & Water 6.83 6.18 7.48 747 9.29 521 250 3.26 0.64 -196 Construction 999 12.76 -2.99 -1 71 -4.14 3 75 6.05 -2.25 -2562 1127 Wholesale & Retail Trade 976 3 35 --un 2.-19 2.56 246 2.51 ~O.7-1 -5.17 3.58 Hotels & Restaurants 6.56 255 -5 41) 1.99 -4 00 426 1.
91 -7.44 -3.32 8JI Transport 35.

':; 2.69 5.

(1-1 -U 23 ~ 5() Road Transport 498 .2 U2 4IJO 1.+9 -1.U2 135 o U4 -098 -S -18 -1.1 (14 S 1-1 -I 90 -rJ Xl -1833 I ; '2 Sea Transport 2 fi3 .2 :1 :-: (1-1 -3 75 13 2-1 ) 'J') -') 2~ _1 52 -S 17 -.

;: 2';' Air Transport -207 725 451 2% --I 19 7 \(1 -I 'iJ -4 411 ".XI j h] Communications 2 ')2 IS III 3 IJ) 121':1) ~ i ) (j"7 J':' 5S ~.j .

'-:' -(I -1\) ~ I hi ~J l) 4h Banks & Insurance ) -1-1 S 37 - I -- ) --I 2-1 X fJl (,7(\ Ii 11' - "I .
?X _, ox 11,1; 2 \)1" I !C. "

.

)- I I J j li'}l ~ l":6 Real Estate & HOUSing GO~'C'rnm!Jn!

Ser/ice" - .

:.

u I i) i,"\ _ ) -I I 'I Other Ser'.lces 'i'iS II "\ 'J j I" 2 S~ -.1;. "

Less FIS:~,1 - - - - - - - - J "-l i j ,I,' i ..;.\ - -_ .

-I ·1 TOTAL ~ I~ I {,II 30" 1 '))ool I c)~ "", , '!2 " II ~ -:- ... II : ., -I -I' _1 ("I ., I I'!

-,' ",J II - , 1(1 - 2 i<'; , ; I 1(13 1.3 I --1. f(, -~.O:-l -(J It... ::: S() 2 ", 1 -1 (1" - 'ii' - - ,- '" - - - - - - -I '" , - - - - - - .
- - I q , - TABLE 7 COMMONWEALTH OF DOMINICA GROSS VALUE ADDED DEFLATORS BY ECONOMIC ACTIVITY, AT BASIC PRICES Sector 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003P Agriculture 118.54 113.66 121.94 124.47 130.17 137.66 137.28 138.90 134.13 141.66 Crops Livestock Forestry Fishing 121.22 115.33 1h65 127.56 133.88 14383 143.45 146.28 140.03 150.56 106.92 106.93 106.98 111.36 111.46 111.43 1\ 1.46 111.48 1\151 11150 105.38 106.52 106.42 106.33 106.27 106.21 106.16 106.40 106.34 106.32 108.21 108.22 108.20 117.40 126.60 126.54 12650 126.48 126.46 12774 Mining & Quarrying 125.15 127.72 135.85 137.20 137.80 140.40 141.08 145.15 145.72 153.51 Manufacturing 129 91 133.85 \33.93 140.13 144.10 16907 17382 166.78 16839 170.92 Electricity & Water 147.21 146.19 152.06 15713 16039 174.61 172.53 177.59 189.33 17174 Construction 125.25 12775 135.98 13598 137.71 140.45 141.17 144.99 14565 153.33 Wholesale & Retal!
Trade 114.22 115 71 11 7 68 12051 121 69 123 11 124 17 126.47 1267 0 128.65 Hotels & Restaurants 11768 12916 13382 135.11 143.52 14352 144.87 147.55 14776 1511.1111 Transport 124911 12623 120.19 124 12 12473 12757 12').

\ 9 125.38 121·-lJ 122 74 Road Transport 116.H2 11679 11680 116 XU Ilti.S 1 116 XI) 116.84 116.77 Ilh X2 !

III 82 Sea Transport 141 91 l::.Jl l)7 \42 IS 1363X 11641 1-1232 ISO J{) IWX4 I,l 21 !
i-;' ).1 Air Transport 110.27 12.:;n LD l)() 124118 12-1 .12 110 (i I l:b.-U 122.76 !U7 :D It I""';" -t 1 Communications 1II!!.

I5 100 If, 11)\1 1 ~ I (J() I () [(10 16 9, -;'(, WI LlL) Hl) 2() XII \)\) 72.S·~ Banks & Insurance 1!Il.

')() 111.\\) II(lfd I IS .

:(, 1211 .


;4 117 X5 1\ t) 93 I '-IIJ2 121 11(1 I·~ \ (lrl Real Estate & Housmg 1'1 ~II In I!H 1::: ~ :::l) [1 ~ '-1 \ ~I,I ~() I ,(.I ~~ ]1' n 13.1 '72 131, 72 \ 'h 71 Government Services ll~ ~II IJ I X: I ,q ,'-\-:' 13') ~s I ~-l III I·IS 4;, I-Is -11!

1·1') i'" \ -~\] S') 1·11, 1:' Other SerVices 1 11 1 1-1 I-I) ,,\'1 II" ·1':; I ~'I 11:-; I."

,~ l:'~ , I 1";" SI- 1 111 -, II,::: I";; I ',·1 "~ Le"s FISI.\1 TOTAL I I t Li ~ III 'II 'I :,: -, ~ - I i2 > II: : 1\ I ::.
~ I i I : ')"' I r I';· '''; li~ \~ I;~ '~ 122 J-4 1~2.112 12"- flH !

2H (,J IJ 1 '}') 13:" J~ \3(1.21 IJH, ')\1 1J~.
'Jl) [J'l 7') TABLE 8 COMMONWEALTH OF DOMINICA INDEX OF GROSS VALUE ADDED BY ECONOMIC ACTIVITY, AT BASIC PRICES, IN CURRENT PRICES Sector Agriculture Crops Livestock Forestry Fishing 1994 1995 1996 1997 199B 1999 2000 2001 20022003P 116.06 102.23 115.68 116.32 119.22 123.39 12168 115.02 110.35 112.28 114.40 9745 113.08 11168 113.78 118.03 116.02 107.74 10184 103.57 115.79 118.18 119.78 126.63 128.71 130.62 13190 ] 33.17 13445 136.04 11978 12338 12518 126.98 128.06 129.14 130.22 131.65 13273 133.09 136.85 13893 14152 162.28 177.85 184.78 18253 185.12 18772 193.60 Mining & auarrying 13247 152.60 15747 16526 150.32 159.09 169.48 17013 127.27 14903 Manufacturing 133.45 140.64 149.19 160.01 192.24 186.53 20598 170.75 168.52 172.15 Electricity & Water 17907 18882 21109 23444 261 54 299.55 303.40 32245 345.97 307.69 Construction 144.99 166.76 172.19 169.25 164.31 173 86 185.33 18608 139.03 162.86 Wholesale & Retail Trade 136.33 1-l273 151 69 15922 1M 89 1711 93 17672 \7867 16973 }'852 Hotels & Restaurants 17536 19" lS 19345 19921 203 15 211 80 222.15 2094-l 20275 222 94 Transport 13712 14232 ] 50 :53 1474S 153.4S 159.1l9 159 j-t 14635 125.21 131.15 Road Transport 133 41l ]1h lit) ]41 52 143.h3 1·J2 18 1--12 23 14925 1_,8 07 113 54 Ilg g~ Sea Transport 151 :: 5 ISS V) ltil) Or, 1S(l lit) 1'"'(, Sfi ISS 13 L~li :'1 I (i 1 ~!)
)~5 n 13S 2() Air Transport Iii" III 12Y 9-t lJ 1 72 l r 7q 13227 1JS X4 141 Sf, I J!

r,9 [1(1 lX liS U2 Communication" Lr7 II' Ih I ')() 160 Sf, ISS 18 211!)

(14 11'J 2') 2!12 20 IS"" -1(1 ,,,7 -II III lh Banks & Insurance 1:12 12 143 "II [-1-:'10 l-n 55 I)' S2 ] (i,j 'J') \ t1X 11 I !

,.1<; _' ~) 155 () 1 15 11 'J5 Real Estate & HOUSing \2 7 \JS 1\ \ S") J ,( , -Ij 141 52 1-f'"7 : S j "' I J (i· ~ I :'·L"') 15 7 t,(, I (,j , I \ t'-f -:'- Government Serm:es I j() ~ I \ ") ~ ,":') l-f l ' ~" i "II .
)1' !

~,; ,,(, \ ()).

; ,,\' I-f) \-f t "if, I' = \lI: -..., Other SerVICeo, -- 1-1 '\ ~ l'h j .

; ~, ,~ II:;; - - I " l~ ~ ,2 :" '-12 ' ) : j, :;;,_ J .

:'.

... .1 'I~ _>1 1 '.J2 \ ~.j :'\iI -- ; ~'J ') i -----=--- Le~5 FISiM TOTAL !

~-I ,)~ !

,,-I :;;" --------------------- 1'1, -I.; l " , ,,~ 1\·1 - I ['I' '\ ~' .- - - ---------------------- : ,12 ('\ I '.. ~ ~: - , ,~, , : I ' " " IJJ :''1 IJ:, Jx l-f:' JJ l-f" 'I~ 1:':-1 I" [f'-f :-.
)-f I (,:-j W' I (,-t ::' 151, 112 I :'() "(:' TABLE 9 COMMONWEALTH OF DOMINICA INDEX OF GROSS VALUE ADDED BY ECONOMIC ACTIVITY, AT BASIC PRICES IN CONSTANT PRICES , Sector Agriculture Crops Livestock Forestry Fishing 1994 1995 1996 1997 1998 1999 2000 2001 20022003P Mining & Quarrying 105.84 11948 115.91 12045 10909 113.31 120 13 117.21 87.34 97.08 Manufacturing 102.72 105.07 111.39 114.19 13341 110.33 118.50 102.38 100.08 10072 Electricity & Water 121.65 12916 13882 149.19 163.\)6 171.56 175.85 18157 182.74 179.16 Construction 115.77 130.54 12663 12447 119.32 123.79 13129 128.34 9545 106.21 Wholesale & Retail Trade 119.36 \23 35 128.90 \ 32.12 13< 5) 13884 14232 141.27 13 ;,97 13876 Hotels & Restaurants 149.02 15282 144.56 14744 141 ~5 14758 153.3-1 141.94 13722 14862 Transport 1IJ9.78 ] \2 74 119 II!
118 H2 12) (I) 12--171 123.49 IIG 72 101.44 106.85 Road Transport 114 19 lUi 50 121 !

() 122 97 III - , 121 77 Inn II\) U\ \)7.14 11 () 3:1 Sea Transport 10656 11\~1 -.5 11891 11445 129 I,; 112 I ~l 11 ,) l)2 [ 15 70 lOt) 25 I fI(} (i 1 ATr Transport 9(,22 1\)) 20 1\)7 XS III 1!5 lOt) J ) 113 9' 11221 107 27 1118 14 10988 CommunicatIOns 1JI) Sf) Illl 71 I hf, (1 I 18B OS 20X -I 2-1-1 \)5 ,2;..j b1'\ 210 [0 2()r. 72 I (,f) ,j:-: Banks & Insurance 111) 1)...1 1:; ') I)() 12(, ~7 12 [ 11) I , I !
1 1411 00 I·W 10 13" ,...,~ \27% 131 48 Real Estate & HOUSing 1115 J 1 11)' I!

JIJl) ~~ I j(l if, I l l ' 1\-1 71 I 15 \) I l 1'"7 \I~ 118 I, I, 2() ~(J Government Sep.'ICCS - - IILl-lI t:):; lJl I'd "r, )':- ~(, 1Ii" 111 ;'7 I \8 " 12~ 2<) '12S ()() 12'\ ·1') Other Ser/lces [ I I '.j : i';; ~:..; ill ,,:; I j; " i~<) j .

I ,.

\ I, J I .

:;., :;:; I ,c ~II 111"1 1'2 I I,l, .j'} less FISIM I 1<1 "., 'J- .

;;, - - - - "_._._--~------_. !


11 -:;; 1".1 : .,:-; 'I ~ h" 21 II)~ " : - - - - - - - - - - I s2 ~2 I"S i ' \-"'''; 'J'I TOTAL 10'1.

Il} 11l1.
'1-l [1..- 3fl l1f,.r,~ I I'} 1,," 121 :-:0 I 23.3'} IIOS 2(, I 12_2:i 112 21 TABLE 10 COMMONWEALTH Of DOMINICA EXPENDITURE ON GROSS DOMESTIC PRODUCT IN CURRENT PRICES (EC$MILLlON) 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003P TOTAL CONSUMPTION 489.54 506.43 568.29 549.78 565.2 586.8 635.26 662.82 637.75 608.88 Private consumption 372.12 38328 439.36 406.65 412.25 427.54 470.89 502.42 490.42 473.74 General Govommenl 117.42 123.15 128.93 143.13 15295 159.26 16437 160A 147.33 135.14 GROSS CAPITAL FORMATION 148.44 186AI 183.60 207.40 190.89 200.25 201.08 179.21 142.40 177.31 Transport Equipmenl 28.00 26.57 22.99 39.74 21.37 37.69 36.63 2239 25.98 23.98 Other Equipment 33.59 50.02 48.16 49.00 5450 41.39 5U8 46.24 2812 50.05 Construction 86.85 10982 11245 118.66 115.02 121.
]7 113.07 11058 88.1 103.28 Changes In Invenlory 0.00 0.00 000 0.00 0.00 0.00 0.00 000 0.00 000 GOODS AND NON·FACTOR SERVICES -56.24 -97.21 -11-1.03 -95.57 -55.58 -6-1.21 -10-1.19 -123.-13 .90.28 -78.75 Export of Goods 13092 [2447 142.85 J..tjU~ 17062 15124 14782 11993 115.92 10886 Export of NFS 14300 163 7 1~(, 14 2~5 )..J- :H.7 272 15 2423] 204.16 21519 ;: 1.'
2u Impurts of Good~ 2288x 21:>7 5'J J 15J)4 .H97 J [-I l:i 32824 352.U5 31242 :71:.. .15 2i'U lu 1m pons of NFS 1012R II") 79 I 7( II( [4(' 19 J 50 75 15') 3(j l-l) 27 I \.5 I [·n (14 1\' 7 i GOP AT MARKET PRICES 5~1.7~ 595.fJ] r.r,X6 M,) .6) ":'1111.51 722.H4 ~J2.15 7)8.60 (l!i'J.
!f7 707.-4..- ll;:S5 Taxes on Production ,Hid Imports Plus SubSidies :n I'~ (jej 95 [11(1 ,7 II i(1 t)\ 11'5 '-Ii, 11, IV [IU 55 III 12 112 :-16 127.i.1 GVA AT BASIC PRICES ..J94,OfJ 50llJ,X ~J".-4'J 55-4.7{l 5X5,05 (iO'JJ,5 (.2Ul (,\I'" AX 57"',01 ~HlI.11 TABLE 11 COMMONWEALTH OF DOMINICA RATE OF GROWTH OF GROSS DOMESTIC PRODUCT BY EXPENDITURE IN CURRENT PRICES (%) 1994 1995 1996 1997 1998 1999 2000 2001 20022003P TOTAL CONSUMPTION 6.66 3.45 12.21 -3.26 2.80 3.82 8.26 4.34 -3.78 -4.53 Private consumption 7.32 3.00 14.63 -7.44 1.38 3.71 10.14 6.70 -239 -3.40 General Government 4.62 4.88 4.69 11.01 6.86 4.13 3.21 -2.42 -8.15 -8.27 GROSS CAPITAL FORMATiON 7.71 25.58 -LSI 12.96 -7.96 4.90 0.41 -10.88 -20.54 24.52 Transport Equipment -4.86 -5.11 -1347 72.86 -46.23 76.37 -2.81 -38.88 1603 -7.70 Other Equipment 5.46 48.91 -3.72 1.74 11.22 -24.06 24.14 -10.00 -3875 76.73 Construction 13.48 26.45 2.39 5.52 -307 5.35 -6.68 -220 -20.33 17.23 Changes In Inventory 0.00 0.00 0.00 0.00 000 0.00 0.00 0,00 0.00 0.00 GOODS AND NON-FACTOR SERVICES 1.04 72.85 17.30 -16.19 -41.84 15.53 62.26 18,47 -26.86 -12.77 Export of Goods -0.07 .....j.y:; 1~ 77 1.63 1752 -11.30 -2.26 -J X87 -1.34 -609 Export of NFS YJR 144R U71 2() 05 tiJl2 1401 -I () 96 -1574 :1 ...jl) -on Imports of Goods :; 24 JiJ.91 179('; 12lJ -17" ~ ...jl) 725 -I I 2(; -I 1.5:i :2 ~...j Imports of NFS 5 X2 103() X 14 l~ 77 } 12 5.71 ~ j(i 72 -50-1 - ,6 -I S X-I GOP AT MARKET PRICES 7.S11 2.39 7.f)~ 3.72 S.NX 3.19 1.29 -I.NS -l.1II1 2.55 Product Ta)(es Less SubSidies J
 -U X .2 ,) ~ 71 h 52 XIlll -1 In '" -... '-' () 52 I " 12.:0<1 GVA AT BASiC PRICES H.l(, 1.J4 7.35 3.211 s.·n -t20 1.% -2.27 -5.02 0.5-1 TABLE 12 COMMONWEALTH OF DOMINICA NATIONAL ACCOUNTS AGGREGATES IN CURRENT PRICES IEC$) 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003P A: INCOME GVA AT BASIC PRICES 494.06 500.68 537.49 554.7 585.05 609.65 621.60 607.48 577.01 580.11 Product Taxes Less Subsidies 87.68 94.95 100.37 106.91 115.46 113.19 110.55 111.12 112.86 127.33 GOP AT MARKET PRICES 581.74 595.63 637.86
 661.61 700.51 722.84 732.15 718.60 689.87 707.44 NET FACTOR INCOME FROM ABROAD -29.80 -3590 -5077 -45.66 -41.\ I -68.98 -87.90 -55.43 -50.32 -38.33 GROSS NATIONAL INCOME 551.94 559.73 587.09 615.95 659.4 653.86 644.25 663.17 639.55 669.11 NET CURRENT TRANSFERS FROM ABROAD GROSS NAnONAl DISPOSABLE INCOME B: APPROPRIATION L9.09 21.24 27.47 27.95 34.39 3661 48.78 47.16 37.32 34.47 571.03 580.97 614.56 643.90 693.79 690.47 693.03 710.33 676.87 703.58 Private Final Consumption 372.12 383.28 439.36 406.65 4L2.25 427.54 470.89 50242 490.42 473.74 Government Final Consumption L17.42 123.15 128.93 143.13 152.95 159.26 164.37 160.40 147.33 L35.14 Total Consumption 489.54 50643 568.29 549.78 565.20 58680 635.26 662.82 63775 608.88 GROSS NATIONAL SAVING 81.49 74.54 46.27 94.12 128.59 103.67 57.77 47.51 39.12 94.70 C: CAPITAL FINANCE Gross Capital Formation 148.44 186.41 183.60 207.40 190.89 200.25 201.08 179.21 142.40 177.31 Gross National Saving 81.49 7454 46.27 94.12 128.59 103.67 57.77 47.51 39.L2 94.70 FOREIGN SAVINGS 66.95 111.87 137.33 113.28 62.30 96.58 143.31 131.70 103.28 82.61 TABLE 13 THE BALANCE OF PAYMENTS OF DOMINICA SUMMARY 1997 -2003 (In EC$M) 1997 1996 1999 1998 2000 2001 2002 2003 I, 1.
CURRENT ACCOUNT -138.15 -114.09 -62.30 -96.58 -143.30 -131.72 -100.76 -79.47 A.

GOODS a.

Merchandise b.

Repair on Goods c. Goods orocured in oarts bv carriers B.

SERVICES a.

Transportation b.

Travel c Insurance Services d. Other Business Services e. Govemment Services C.INCOME a.

Compensation of Employees b.

In....estment Income i.

Direct In....estment ii.

Portfolio In....estment iii.

Other In....estment D. CURRENT TRANSFERS a.

General Government b.

Other Sectors 2.


CAPITAL AND FIANANCIAl ACCOUNT A.

CAPITAL ACCOUNT 1.

Capital Transfers a.

General Go....ernment b.

Other Sectors 2.

Acquisition & DIsposal of Non- Produced Non-Financial Assets B.

FINANCIAL ACCOUNT 1.

Direct Investment 2 Portfolio Investment 3.

Other Investment a.

Loans - Central Government b.

Loans - Go....ernment Guaranteed c. Arrears d. Commercial 8ank~ e. Other Assets f. Other Liabilities 3.

ERRORS AND OMISSIONS 4.
OVERAll BALANCE 5. FINANCING Change in Arrears Change in Special Drawing Rights Change in Reserve Position With the Fund Change in Go....ernment Foreign Assets Change in imputed Reserves -173.59 -177.10 0.01 350 58.76 -36.13 '00.42 -4.19 5.99 -6.73 -50.78 0.05 -50.83 -45.52 2.15 -7.46 27.46 -0.67 28.13 80.72 68.32 57.39 5057 6.82 10.93 12.40 4806 1.26 -36.92 -2.88 2.89 -0.01 -26.36 -15.62 5.06 62.65 5.22 -5.22 0.83 0.00 -2.20 .1.75 -210 ~175.34 -178.44 0.02 3.08 78.95 -42.67 110.47 -4.92 19.18 -3.11 -45.65 -0.09 -45.56 -42.08 2.09 -5.57 27.95 2.55 2540 128.97 60.81 60.81 5450 6.31 .143.53 -146.70 0.02 3.15 87.95 -34.87 103.42 -5.98 3265 -7.27 -41.11 0.66 -41.77 -38.55 1.94 -5.16 34.39 8.85 25.54 32.24 39.82 39.82 33.21 655 -177.00 -177.79 0.03 076 112.79 -35.97 111.56 -4.16 44.56 -3.20 -68.98 1.88 -70.86 -61.47 1.91 -11.30 36.61 8.68 2793 131.37 31.75 32.22 25.38 6.84 -204.23 -207.38 0.02 3,13 100.04 -39.72 106.00 -3.49 44.46 -721 -87.90 1.74 -89.64 -69.80 -8.19 -11 65 48.79 20.11 28.68 154.77 29.40 33.16 25.98 718 -192.50 -195.21 0.03 2.66 69.06 -37.47 100.54 -5.55 15.72 -4.18 -55.44 3.76 ·59.20 -36.62 -10.62 -11.96 47.16 16.00 3116 121.DO 48.53 4853 41.32 7.21 -158.59 ·161.15 0.02 2.54 70.15 -35.23 98.71 -7.94 19.99 -5.38 -49.64 1.53 -51.17 -25.79 -10.92 -14.46 37.32 2.80 34.52 85.24 55.33 55.33 47.71 7.62 -172.37 -175.1 0.00 2.73 91.08 -37.89 117.06 -6.13 25.89 -7.85 -32.65 1.68 -34.33 -11.07 -10.61 -12.65 34.47 1.02 33.45 72.58 50.70 50.70 42.92 7.78 000 000 -047 -3.76 000 0.00 0.00 -7.58 17.58 1.44 -26.6
 5.96 -1.93 0.00 -16.27 -14 51 0.15 38.07 99.62 48.47 80.10 -28.95 7.23 -1.60 0.00 ·23.75 -10.56 -0.25 -8.97 125.37 29.22 29.18 66.97 19.29 982 0.00 53.17 -28.14 12.83 -10.21 72.47 32.11 ·0.62 40.98 51.81 16.52 -0.73 -26.98 -13.59 13.95 20.06 29.91 30.90 32.69 -33.68 26.56 9.72 -1.00 -64.93 -7.58 3.55 49.37 21.88 53.45 3.81 -35.38 24.35 4.53 -1.40 -92.15 19.90 9.39 ~.45 8.01 25.82 1.26 9.34 33.85 -7.34 -8.01 096 0.00 0.00 1.21 -10.18 -25.82 3.87 -0.03 0.00 -19 13 -10.53 -1.26 0.02 0.03 0.00 -7.22 5.91 ·9.34 0.00 0.00 0.00 -4.34 -5.00 -33.85 0.00 0.00 0.00 4.67 -38.52 7.34 0 0.00 0.00 1.30 6.04 68.16 57.02 0.21 1093 0.31 2.52 -0.02 9.12 ·8.12 7.12 -15.61 -073 0.73 2.50 0.00 -1.52 1.62 -, 87 26 - - - • __ ,TABLE_1_4 _ ."
COMMONWEALTH OF DOMINICA SELECTED ECONOMTc"NDICATOf8--' _ - - - - - .

{ • ~ .

I I 2000 2001 2002 2003 I 1997 1998 1999 UNIT 1996 I I , ---i i ~~~<:~;r~,.," --+ ~~~---+--_.~~ "._~ I ---63; ~:; 66~.~i -_--~;~::;~;;~.

_-._-.-_-_-_.-- ~-----"-'_~ ~I -.

r __l_':-~__ ..._____ I n-S I 7,4151 8,799 I 7685., 9,166 I I - - - - - - __ ... E~;~ ~-=~~-.--~;;F f- 585 05~_ 70~::~ 6~9B: i 8,12'1 9,724 5 :4 1 :4: '-,,:ndnq~ , I J081 t· E-~S~~ 501.93' 283!

-_-J~,-~';;",/e I _E:~~_~~I 456-651 C~-.


::L---_--.--.--'~~'~---- F.~ ~ - _~---~--- 6,924 i ---- -----6~299 1.98!

514.45 249 _~247 5,975 7,127 6,576 277 530 721 - - - 3~-- 49529 1 6,153 7,367 " "'..,... 60 v~;_ 0,"'1'" 0' OJ".

<if;.).

--- LUHRENT PRICES .

,A .>1 b~'", I',", ,.

,."

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,'n, ", 'J",''''''' ,,,I"~ ''''"I','' ""to', ,,,~r~,·!

,,",~, '1""_"" ,,,,,, AoI",~", "'",., ',~, ...,,,'.A~' B...,,, Pro,'" ,r., (,II~ ~,,,,,,'~,'J ~'", (" 'I,'l.

<...N, ~Il\l' ..,.~r /-'I!

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I i' I U rliER INDICA TORS 11>1''''''' ",.,."""

'>hL I •.

1 "".,".

",IIUI1I ,r",,,,,,,,,t'IJ,,'~(h)BI [, .. , .. " " " , .• 1.,'11) i"-,,,,,wl,,t'INI, ,., t ,;,",, "',J' to,,,, "'., t """r R"'~lIu~ "'" "'.

"U'J,""" ,.1", "",;,'.

"1 I" I"'''~' 1:""""" ," I, ":'.

".

','''' ,.

,,>I "~" '"'"" r t"",,.!

A< Bdl..,,<~ "f ", .. " " ( ...",I~I ~ fm_",-,--""!,,,"I A.c B~~~"'e !

_.~~...!~_ _~ __ "_-_ C <'I..r + -----+ I r _~,:_~.!

':'_~ ~ _351!..§L__.


,~-;;;:-.L ~ ~_+._...__.___ -.?£Q...

!~ _s !

':'----4-----....._.-J}~_!

80 70: ~~~ ,_ L, •.

_"S"!_J ' '01'W' 43,012' .

-- l-'-:-~-~--'----- ~'49 13 -j---------------- - 72,490 r----?

?.,.~~, --- -- _.- 14147 13854, 13886\ 13538: ~?3,291 10L"::!1 .

:::-r- --' -,2,,,2cl"'B,2,,1 ---=-~ -OL.

:lU I @~_____::~~ 65.35!

37,366 I, 46.33 - - 30,676: 40.49: :;::;,:::;' ..2, -, -r-- - _--+~ _~ M_j !

!'
!'

_,u~ A.~rd~.~~(~~I~u~E: _Ju =~~~~~--~~~~_.~__.. 34.161 3604' --.J4~--- 125.00' _~.... : ~~ .~, ::.

:~ I 4079 .• .~~~I____ i" ...'::"~.'~",..:','.

;,~::::: ~~~:,"/,>,~, 'Ill, II .. ",.

'~"'J ',44~_"'" A ...~,--~,!

", ~",x1J ..: "II.,',· "~I<' •'.I'J'JI1J,.

'~I,.I,.,'~\'A,l~~1I~1(!IJL_ "H,.,.

",I--' ,~,,, ..,,, "'"~~IJIJ<''' ,__._'~<_lJ[~._ .._~ ,u't---~-+ _.l_.I~~ j __,~l.."!......1 ""'''''''''''JlJII'''''~''Cf'(,,,.,,.'':.cur''-''':'H~~__l.
:::.1~ I ",,,,,,,, tAI,,"'<lI!UI<' '" I, " " J ' ,n "'" 'r",., •.

"'I,'A"""I, __._~ --'-.:.

:,__ ..

-----~!

':'1_.-t-".---'--166 50t--.. 98.61' .

987!

2.45~ 12861___l__.

1.691 ~£?~ 173 83: ".... 188.61 i .

.1 ..... • ~- I 20'" ~-: 19477\ ...21..3J.__ ~ A"~-' 104,151!

_~ 104.7~ 68 6~~ 68 75§ ~__~_ ~- - 1U.j,bLL .

184 74 i ... \ • _ , .

\ '.

"'-, 1.. ( _ .11 ,", '",,, I" "'"."."


",, A 'r,~h ~'_ IK,,__ t--_193484 ,',',::::'c'::::::,:, n..·~~~:':;t~"~-n -:!o:~-~-=.i~:i=" M~ I ---,.-----~T ------11913 ~- ... - 302.647t' 13030 o3~,3~1~0'c-_ _ .JI""""I"".",,,,,,,,..

267,521 i 130 581 ----- 5,3~~--+.

IL~O'-+I ....J~ -!, 2 3 :,.. .

1/"1, '.1 /-i."

~ L ""."

IOUI"I~IJ<J"'<J) I:" S M 450 00 486 501 ;;J lU.OU u .-- --- N ,n CHART 1: GOP AT MARKET PRICES IN CURRENT AND CONSTANT PRICES 1994 - 2003 80000 70000,/ .
~-­ 60000 (" , , ' 50000 I, EC$ MILLION 40000-Y \ 30000-i I, 20000 10000 000 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 .Constant .Current ~ I YEAR 30 CHART 2: SECTORAL CONTRIBUTION OF GVA IN CONSTANT PRICES 2003 1.591_.
1767 • Agriculture iii Mining & Quarrying IllI Manufacturing • Electricity & Water II1II Construction []Wholesale & Retail Trade [] Hotels & Restaurants I Ell Transport =Communications EI Banks & Insurance [] Real Estate & Housing ~ Government Services • Other Services I J 1320 \ ...;:; .a=\\\~~'1I?Jij:0:';~';')h'~~ 7.21 932 2.73 31 u '" C> c: "'.c: '"C> "'-c: '"u '"a.. ~ CHART 3: RATE OF GROWTH OF GVA IN CURRENT AND CONSTANT PRICES: 1994 - 2003 10 00 , 8 00 f- '\ 6 00 t- \ .
4 .. 4 00 2 00 000 -2 00 f-----"----"--'-!

-4 00 f " " -6 00 , --.:.__--.

:._25!25!2==~12:£Ec2::~~~!1 YEAR - - Current Prices - .

• Constant Prices] 32 Chart 4: CURRENT ACCOUNT BALANCE 0.00 -20.00-[, :'\ -40.00 -60.00 EC$Miliion -80.00- -100.00 -120.00 -140.00 -160.00- 799;> 799<9 79 99 ~ooo ~007 ~oo '?
~OO,J year I_CURRENT ACCOUNT BALANCE I 33 CHART 5: Capital and Financial Account Balance 1997 - 2003 [OCapital and Financial Account Balanc~ 1BO.00 I- I 160.00 140.00 120.00 Q 100.00 ~.... u w BO.OO 60.00 40.00 20.00 0.00 1997 199B 1999 2000 Year 2001 2002 2003 34 • • 3600 CHART 6: BALANCE OF PAYMENTS OVERALL BALANCE 1997 - 2003 3400 32 00 l---------C--'-'-';~ 3000 2800 2600 , , "', , .• % :J::,~~~;~{f '":,:;,,, "\:,,<:+, , " " ",';~:, 24 0 0 22 00 :W 00 1B 00 1600 14 00 12 00 10 00 800 600 400 200 o 00 I - -__£-.---:t--,'-'~ 200 ,400 'Ci 00 ,Ci 00 10 00 1997 1998 1999 2000 2001 2002 2003 .-+-- BALANCE OF_PJl.YME~T-S~~ERALL Bj\LANCEJ YEAR 35 , • } m~---~~~~~~~-------------------------------- --- --- ----- I I ~~~fflMe~'~u;uue", I I P.:tJ;ema{rrraae Statistics rrrave{Statistics Consumer Price Irufe:{ 1Vationa{flccounts 'Economic Indlcators CBafance ofPayments Popufation Statistics Vemograpfiic Statistics P.tfucation Statistics 'Environmenta{Statistics genaerStatistics Central Statistical Office Ministry of Finance Financial Complex Kennedy Avenue Tel (767)-448-2401 Ext.
3400 - 3407 Fax: (767)-449-9128 Price: EC$25.00