Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1697647244007.pdf (Bahamas)
NATIONAL ACCOUNTS ANNUAL REPORT 2022 THE BAHAMAS NATIONAL STATISTICAL INSTITUTE Ministry of Economic Affairs PREFACE This publication introduces Annual Gross Domestic Product of the Bahamas via the Production and the Expenditure Approaches, in current (nominal) and constant (real) prices.

These series increase the analytical usefulness and statistical reliability of the national accounts.
The information contained in this report is some of the most sensitive leading indicators of economic conditions in The Bahamas.

Users of this information will find it a meaningful addition to the usual body of information for planning and decision-making.

The data has been structured on the basis of the United Nations System of National Accounts 2008.

Abbreviated definitions of the basic aggregates and an outline of the methodology employed to derive the data are also included.
Persons interested in the details of the sources and methods of the estimates are advised to contact the National Accounts Section.

Nerissa Gibson Acting Managing Director Bahamas National Statistical Institute (Formerly Department of Statistics) May 2023 i THE BAHAMAS NATIONAL STATISTICAL INSTITUTE ADDRESSES: The Bahamas National Statistical Institute (formerly The Department of Statistics) Bellagio Plaza, Madeira Street P. O.
Box N-3904 Nassau, Bahamas Telephone: (242) 604-4000/604-4063 E-mail: Terahnewbold@bahamas.gov.bs The Bahamas Government Office Complex East Mall P. O.

Box F-42561 Freeport, Bahamas Telephone: (242) 602-9030 E-mail: Kendrarussell@bahamas.gov.bs WEBSITE: Detailed tables and methodology of the National Accounts results can be found on the Department of Statistics website.

FEEDBACK: The Bahamas National Statistical Institute (BNSI) welcomes your questions and comments regarding this publication.
ii TABLE OF CONTENTS PAGE Preface….………………………………………………….…..…………..……..……….

i Address.……………………………………………………….…….…..……….……….

ii Acknowledgments …..……………………………..…………….…………….………... vi Concepts and Definitions …….……..…………………....………………..……….vii – viii Sources of Data and Methods of Estimation: A.

Gross Value Added by Industrial Origin ………..……….….……..……...............ix B.
Expenditure on Gross Domestic Product ………………… …….…….…..……... x Uses of National Accounts Data…………………………………………………..…..…..xi Revisions to 2013 – 2021…….………………………………………………………..…xii Re-referencing of the GDP to Base year 2018…………………………………..……....xiii Data Highlights………………………………………………..…..………...….. xiv – xviii LIST OF TABLES AND GRAPHS: Table 1: Gross Domestic Product by Economic Activity at Current (Nominal) Market Prices (B$ Millions) 2012 - 2022…………..….....…….….
1 Graph A: Gross Domestic Product Current (Nominal) vs Constant (Real) 2018 – 2022………………………….……...……..2 Table 2: Gross Domestic Product by Economic Activity at Constant (Real) Prices (B$ Millions) 2012 – 2022….……………….….…………..….
3 Graph B: Gross Domestic Product Industry Contributors 2022………..…………..……..4 Table 3: Gross Domestic Product by Expenditure at Current (Nominal) Market Prices (B$ Millions) 2012 – 2022...……….….......……….. 5 iii Graph C: Top Four by Industrial Classification (Rev 4) Real GVA 2021 vs 2022………………..……………………….……..……..……..……..6 Table 4: Gross Domestic Product by Expenditure at Constant (Real) Prices (B$ Millions) 2012 – 2022..……………………..………..…… 7 Graph D: Household Expenditure vs Imports of Goods and Services 2012 – 2022 Constant (Real) ....…..……….…………………..…………………………..8 Graph E: Final Consumption Expenditure by Type of Sector 2022 Constant (Real) ....…..……….…………………..…………………………………..9 Table 5: Output by Economic Activity at Current (Nominal) Prices (B$ Millions) 2012 – 2022…..…………….…..…….…..….10 Table 6: Output by Economic Activity at Constant (Real) Prices (B$ Millions) 2012 - 2022….………….…….….…………….11 Table 7: Intermediate Consumption by Economic Activity at Current (Nominal) Prices (B$ Millions) 2012 - 2022….……………….……….…..….12 Table 8: Intermediate Consumption by Economic Activity at Constant (Nominal) Prices (B$ Millions) 2012 - 2022….………………..…….…..….13 Table 9: Compensation of Employees by Economic Activity at Current (Nominal) Prices (B$ Millions) 2012 - 2021….……………….……….…..….14 Table 10: Depreciation by Economic Activity at Current (Nominal) Prices (B$ Millions) 2012 - 2021….……………….……….…..….15 Table 11: Depreciation by Economic Activity at Constant (Real) Prices (B$ Millions) 2012 - 2021………………….……..…...…..….16 Table 12: External Transactions on the Current Account, Summary in Current Market Prices (B$ Millions) 2012 - 2022..…..…….……………... 17 Table 13: Gross National Product at Current (Nominal) Market Prices (B$ Millions) 2012 - 2022………………..….…….18 Table 14: Gross & Net National Income, Gross National Disposable Income, Gross Saving and Net Lending/Borrowing at Current (Nominal) Market Prices (B$ Millions) 2012 – 2022…..……………..…….…19 iv Graph F: Real GDP 1997 – 2022..….…………………………....…..……………….…20 Table 15: Revised
Table 15: Revised Historical Series Production at Current (Nominal) Market Prices (B$ Millions) 1997 - 2011………………..………...21 Table 16: Revised Historical Series Production at Constant (Real) 2012 Prices (B$ Millions) 1997 - 2011…………………………..…..22 Table 17: Historical Series Expenditure Gross Domestic Product at Current (Nominal) Market Prices (B$ Millions) 1997 - 2011……………..….…….....23 Table 18: Historical Series Expenditure Gross Domestic Product at Constant (Real) 2012 Prices (B$ Millions) 1997 - 2011……………….…………..….24 v ACKNOWLEDGEMENTS This report is produced by the staff of the National Accounts Section of the Bahamas National Statistical Institute (BSNI) formerly the Department of Statistics.
The BSNI wishes to thank the business community, public corporations and governmental agencies for the cooperation received in the provision of the necessary data.
The Department also acknowledges the invaluable contribution of: Ms. Nerissa Gibson (Acting Managing Director) Mrs. Clarice Turnquest (Unit Coordinator National Accounts & Business Establishment) Mrs. Terah Newbold (National Accounts Supervisor) National Accounts Staff: Ms. Portia Tulloch (Assistant Supervisor), Mr. Hugene Adderley, Ms. Shanya Miller, Ms. Georgina Gabriel, Ms. Shervontae Rolle The Business Establishment Section The Consumer Prices Section The External Trade Section The Labour Force Section The Ministry of Finance The Ministry of Agriculture The Department of Fisheries The Ministry of Tourism The Central Bank of the Bahamas The Insurance Commission The Department of Inland Revenue vi CONCEPTS & DEFINITIONS1 The System of National Accounts (SNA): SNA 2008 consists of a coherent, consistent integrated set of macroeconomic accounts; balance sheets and tables based on a set of internationally agreed concepts, definitions, classifications and accounting rules.
It provides a comprehensive accounting framework within which economic data can be compiled and presented in a format that is designed for purposes of economic analysis, decision-taking and policy-making.
The Supply and Use Tables (SUT): The central framework of the SNA 2008 contains detailed Supply and Use tables in the form of matrices that record how supplies of different kinds of goods and services originate from domestic industries and imports and how those supplies are allocated between various intermediate or final uses, including exports.
These tables involve the compilation of a set of integrated production and generation of income accounts for industries – that is, groups of establishments as distinct from institutional units – that are able to draw upon detailed data from industrial censuses or surveys.
The Supply and Use tables provide an accounting framework within which the commodity flow method of compiling national accounts – in which the total supplies and uses of individual types of goods and services have to be balanced with each other – can be systematically exploited.

The Supply and Use tables also provide the basic information for the derivation of detailed input-output tables that are extensively used for purposes of economic analysis and projections.
Gross Domestic Product (GDP): The most frequently quoted indicator of economic performance.

It provides a comprehensive and detailed record of the complex economic activities taking place within an economy and of the interaction between the different economic agents, and groups of agents that takes place on markets or elsewhere.
GDP is also a production measure as it is obtained by summing the gross value added of all resident institutional units, in their capacities as producers, and adding the value of any taxes, less subsidies, on production or imports not already included in the values of the outputs, and value added of resident producers.

vii 1 System of National Accounts 2008 Gross National Product also referred to as Gross National Income (GNI): is the aggregate value of the gross balances of primary income for all sectors.
It is obtained by summing the balance of primary incomes of the same resident institutional units.

Gross Value Added (GVA): is defined as output (at producer’s prices) less intermediate consumption (at purchaser’s price) for the industries making up the GDP.

The difference between gross and net value added and gross and net operating surplus is depreciation.

The industrial composition of GDP follows the International Standard Industrial Classification Revision 4 (ISIC Rev.4).
Expenditure on Gross Domestic Product: Also referred to as Gross Domestic Expenditure (GDE) - constitutes all Final Expenditures by Households and Government; Investments; Exports minus Imports.

Final expenditure is defined as expenditure that is not used up in the production process within the year.

The differences between Gross Domestic Expenditure and Gross National Expenditure, is identical to the difference between GDP and GNP.
viii SOURCES AND METHODS A: GROSS VALUE ADDED BY INDUSTRIAL ORIGIN: Production Approach: The economy is divided into industries such as Manufacturing, Electricity, and Construction etc., based on the International Standard Industrial Classification Revision 4.

The measure is Gross Value Added which is calculated as Revenue/Sales minus Cost of Goods Sold and Intermediate Consumption, plus Taxes less Subsidies on Products.
The data is sourced from most industries through surveys conducted by the Bahamas National Statistical Institute’s (BNSI) Business Establishment Section.

The largest entities in the various industries are censured, while for the smaller entities a scientifically constructed sample survey is used.

The data derived from questionnaires are items such as gross revenue, wages and salaries, detailed expenses incurred in carrying out the business, depreciation etc.
Information gathered from those industries not surveyed, is normally available either from administrative records or are collected by pertinent government or quasi-government agencies.

These include: the Department of Inland Revenue, the Ministry of Agriculture and the Department of Fisheries.

The Financial Industry’s data is obtained mainly from the Insurance Commission of The Bahamas and the Central Bank of the Bahamas.
Information for Public Administration, Public Education and Public Health comes from the Ministry of Finance and the Central Bank of the Bahamas.

Historical Series: The Historical Series was derived by using the levels produced by the Supply and Use 2012, re-referencing of the accounts and also inverting the change of the previously published estimates.

This calculation was done for each industry’s Revenue and Intermediate Consumption and at the total Gross Value Added (GVA) level.
The GVA calculated in this manner is not additive.

ix B: EXPENDITURE ON GROSS DOMESTIC PRODUCT: Expenditure Approach: This approach divides the economy into the consumption of Government and Households, Investment and Exports of goods & services minus Imports of goods & services.

The resulting figure is the same value of GDP as obtained by the Production Approach once the statistical discrepancy has been applied.
Government Final Consumption Expenditure is derived from an analysis of current expenditure details from the Ministry of Finance and the Central Bank of The Bahamas.

Private Final Consumption Expenditure of Residents has many elements.

This is derived primarily from the Household Expenditure Survey 2012 results which were used in the calculation of the 2012 SUT.

The Change in Stocks is obtained from records of public corporations and the establishment surveys of retail and wholesale trade.
At present, no complete knowledge of inventory accounting practices exists nor are there any price indices measuring the change in the value of inventories, these estimates must be considered rough approximations to the true change in the value of inventories.

Presently no data exist in areas other than outlined above.

The values of Gross Fixed Capital Formation and Machinery and Transport Equipment are based on the Commodity Flow Approach.
The values of Exports and Imports of Goods and Services are anchored to the Balance of Trade and the Balance of Payments data estimated by the Bahamas National Statistical Institute (BSNI) and the Central Bank of the Bahamas respectively.

The Tourism data is based on the Ministry of Tourism estimates.

Historical Series: The Historical Series was derived using the levels produced by the Supply and Use 2012, re-referencing of the accounts and also inverting the change of the previously published estimates.
The previous years were then extrapolated using the previously published growth patterns beginning with 2014.

The resulting estimates are not additive.

x USES OF NATIONAL ACCOUNTS2 1.

Monitoring the behavior of the economy by comparing and following the movement of economic flows such as production, household consumption, government consumption, capital formation, exports, imports etc.

2.
2.

Macro-economic analysis using econometric models to investigate the casual, functional relationships between different economic variables.

3.

Economic policy making and decision-taking short term policy can be made based on recent behavior and the current state of the economy and a view or precise forecast about likely future developments.

4.

Harmonization between different statistical systems by promoting consistency in terms of concepts, definitions and classifications.
Revisions of these various systems are conducted in parallel with the SNA.

5. International Comparison which normally compare GDP or GDP per head, ratios of investment, taxes or government expenditure on GDP.

These are used to evaluate the performance of similar economies, eligibility for loans, aid or other funds or conditions on which such loans, aid or funds are made available.
It also determines the size of the contributions which member countries of international organizations make to finance operations of these organizations.

2 System of National Accounts 2008 pg.

4 - 10 xi REVISIONS TO 2013 - 2021 ESTIMATES As is the practice in other countries, the National Accounts is regularly updated international standards and best practices and recommendations from subject matter experts.

These revisions improve both the accuracy and timeliness of GDP statistics.
reflect to In keeping with the Institute’s Revision Policy, and to maintain the integrity of the GDP data series, the entire series, with the exception of the base year 2012 nominal, have been revised.

This allows for an extended, consistent time series, which promotes proper comparability and analysis of economic developments over time.
It also allows for incorporation of corrections, new data sources and recommended methodological changes, in particular revisions from the following:  Balance of Payments updates, as provided by the Central Bank of The Bahamas.

 Ministry of Tourism Visitor arrivals and expenditure data updates.

 External Trade Statistics revisions.

 Consumer Price Indices updates.

 Aggregated Value Added Tax data updates.


 The Business Establishment Survey findings for 2015 to 2021. xii RE-REFERENCING OF THE GDP TO BASE YEAR 2018 During the past year, the National Accounts team has worked assiduously to re-reference the GDP from the 2012 base year to 2018.

The former base was becoming less relevant and limited constant growth for items that did not exist in the base year.
The 2018 base year was selected as the most ‘normal’ year between the periods 2015 to 2021, and allowed for the incorporation of new and revised data sets.

xiii The National Accounts Section of the Bahamas National Statistical Institute (formerly the Department of Statistics) announces the release of the 2022 advance estimates of Gross Domestic Product (GDP).
These are compiled by both the Production and Expenditure Approaches and available in current (nominal) and real (constant or inflation adjusted) prices.

According to the 2022 annual estimates, economic activity in The Bahamas increased significantly by 11.9% in nominal terms and by 14.4% in real terms, as the business activity returned to pre – Covid 19 Pandemic levels.

Most industries showed modest gains when compared to 2021.
In 2022, the total value of goods and services produced in the Bahamian economy was estimated at $12.9 billion in nominal prices, and at $12.85 billion in real prices.
Graph 1: Real vs Nominal GDP 2018 -2022 0 0 1 = 8 1 0 2 n o i l l i M $ B 14,000 13,000 12,000 11,000 10,000 9,000 8,000 2018 2019 2020 2021 2022 NOMINAL REAL xiv Table A: Nominal vs Real GDP 2015-2022 (B$ Mil) YEAR 2022 2021 2020 2019 2018 2017 2016 2015 Current (NOMINAL) 12,897.4 11,527.6 9,754.6 13,058.7 12,653.6 12,253.5 11,750.8 11,672.9 Constant (REAL) 12,853.5 11,238.7 9,607.0 12,559.5 12,653.6 12,294.8 11,992.1 12,084.3 (Base 2018 =100) The Production Approach The Production Approach to GDP, which is based on the Gross Value Added (GVA) by Industry, showed an increase in real growth across many industries.
The industries that showed the most significant increase in 2022 were the following:  Accommodation and Food Services - increased significantly when compared to 2021 from $550 million in 2021 to $1.1 billion in 2022.

This growth was largely due to increased tourism stopovers and a return of cruise visitors to the Bahamas, as Covid 19 travel restrictions and test requirements diminished globally.
Although the increase in this Industrial group was significant, however when compared to 2019 the level was still 19% lower.

 Transportation and Storage - increased by $149 million (33%) when compared to 2021, as the Tourism sector continued to recover.

The number of visitor arrivals increased the demand for taxi and land transportation.
 Public Administration - increased by $244 million (30%) when compared to 2021 as the purchase of goods and services, compensation of employees and consumption of fixed capital all saw significant increases.
xv Table B: Real GVA by Industrial Classification 2018 to 2022 (B$ Mil) Industry Classification (Revision 4) Agriculture, forestry and fishing Mining and quarrying Manufacturing Electricity and gas, Water and Sew Construction Wholesale/Retail trade, Motor Vehicle repairs Transport and Storage Accommodation and Food Services Information and Communication Financial and Insurance Real Estate , Owner Occupied and Actual Rents Professional, scientific and tech serv.

Administrative and support serv.


Public admin and defense, Social sec.

Education Human health and social work Arts, Other Services, Household Employment, Extraterritorial Org.
xvi The Expenditure Approach Gross Domestic Product, as calculated by the Expenditure Approach, showed real growth in 2022 of an estimated 14.4% and was primarily explained by the following outcomes:  General Government consumption, which includes Public Administration and Defense, Public Education and Public Health increased by $314 million (19%), when compared to 2021, a direct result of an increase in Government purchases of goods and services, compensation of employees and depreciation.
 Household consumption grew by $490 million (7%) when compared to 2021, as businesses fully reopened and employee work hours increased.

2022 saw the reintroduction of face-to-face educational instruction which resulted in an increased household expenditure for education among other types of expenditures by households.

 Exports of Goods and Services grew by $1.2 billion (40%) which was led by the upturn in Tourism Expenditure as this represents a significant percentage of this sector.
According to the Ministry of Tourism, both Air Stopover Arrivals and Cruise visitors showed substantial gains in 2022. xvii Table C: Real GDP by Expenditure Approach 2018 to 2021 (B$ Mil) EXPENDITURE COMPONENTS 2018 2019 2020 2021 2022 Final Consumption Expenditure by 9,889.3 9,211.7 7,603.6 9,218.1 10,113.1 General Government 1,450.4 1,653.5 1,474.6 1,658.4 1,973.1 Non-Profit Institutions Serving households 322.0 332.5 220.4 222.3 312.3 Households 8,116.9 7,225.7 5,908.6 7,337.4 7,827.8 Gross Fixed Capital Formation 3,201.0 3,293.3 2,251.9 2,530.7 2,285.1 Buildings and Infrastructure 2,254.9 2,552.3 1,674.4 1,677.9 1,449.4 Machinery and Equipment 794.3 612.5 465.4 722.3 683.4 Transport Equipment 39.3 115.9 101.5 121.2 138.4 Databases and Software 12.6 12.5 10.5 9.3 13.9 Changes in Inventories 140.1 135.5 108.6 128.3 152.7 Acquisitions less Disposal of Valuables 15.7 20.6 0.6 11.7 10.4 Exports of Goods and Services 4,546.3 4,604.3 2,501.1 3,060.2 4,290.8 Imports of Goods and Services (5,092.3) (4,899.7) (3,558.8) (3,924.2) (3,991.0) xviii TABLE 1: GROSS DOMESTIC PRODUCT BY ECONOMIC ACTIVITY (B$ MILLIONS) 2012 - 2021 at Current (Nominal) Prices Industry Classification (Revision 4) ISIC Code 2012 2013 R 2014 R 2015 R 2016 R 2017 R 2018 R 2019 R 2020 R Agriculture, forestry and fishing Mining and quarrying Manufacturing A B C Electricity and gas, Water supply and sewerage D & E Construction Wholesale and retail trade, Motor Vehicle repairs Transport and Storage Accommodation and Food Services Information and Communication Financial and Insurance activities Real Estate activities, Owner Occupied and Actual Rents Professional, scientific and technical services Administrative and support services Public administration and defense, Social security Education Human health and social work F G H I J K L M N O P Q Arts, Other Services, Household Employment, Extraterritorial Org.
R,S&T Total GDP at Basic Prices Taxes less subsidies on products Sub Total Statistical descrepancy - (18.1) (29.4) 37.4 (260.8) (74.7) 46.3 (142.7) (326.5) GDP by economic activity at purchaser current prices 10,720.4 10,395.5 10,974.8 11,672.9 11,750.8 12,253.5 12,653.6 13,058.7 9,754.6 Current (Nominal) Growth Rate -3.0% 5.6% 6.4% 0.7% 4.3% 3.3% 3.2% -25.3% 1 GRAPH A: Gross Domestic Product 2018 - 2022 Nominal vs Real s n o i l l i M $ B 14000 13000 12000 11000 10000 9000 8000 7000 2018 2019 2020 2021 2022 NOMINAL REAL 2 TABLE 2: GROSS DOMESTIC PRODUCT BY ECONOMIC ACTIVITY (B$ MILLIONS) 2012 - 2022 at Constant (Real) Prices 2018 Industry Classification (Revision 4) ISIC Code 2012 2013 R 2014 R 2015 R 2016 R 2017 R 2018 R 2019 R 2020 R 2021 R 2022 P Agriculture, forestry and fishing Mining and quarrying Manufacturing A B C Electricity and gas, Water supply and sewerage D & E Construction Wholesale and retail trade, Motor Vehicle repairs Transport and Storage Accommodation and Food Services Information and Communication Financial and Insurance activities Real Estate activities, Owner Occupied and Actual Rents Professional, scientific and technical services Administrative and support services Public administration and defense, Social security Education Human health and social work Arts, Other Services, Household Employment, Extraterritorial Org.
F G H I J K L M N O P Q R,S&T 803.7 833.9 835.0 891.1 909.0 932.1 937.9 956.4 786.3 1,011.5 1,068.2 Total GDP at Basic Prices 10,400.2 10,205.5 10,629.6 10,892.2 11,115.0 11,052.7 11,253.3 11,384.5 9,272.3 10,023.8 10,951.1 Taxes less subsidies on products 1,481.8 1,510.0 1,370.9 1,317.8 1,317.7 1,327.9 1,353.9 1,363.0 1,023.7 1,408.0 1,875.4 Sub Total Statistical descrepancy GDP by economic activity at purchaser constant prices Constant (Real) Growth Rate 11,818.1 11,636.8 11,976.3 12,210.0 12,432.7 12,380.6 12,607.3 12,747.5 10,296.0 11,431.8 12,826.5 125.7 440.6 85.8 (46.3) 188.0 689.0 193.2 (27.1) 12,094.36 11,748.07 11,965.08 12,084.35 11,992.12 12,294.79 12,653.60 12,559.46 9,606.96 11,238.67 12,853.55 10.9% -0.8% -0.5% -0.8% 2.5% 2.9% -0.7% -23.5% 17.0% 14.4% R: Revised P: Preliminary The years 2012 - 2014 have been extrapolated on the 2018 base using the previously published growth patterns, therefore the results are not additive.
3 GRAPH B: 2022 GDP INDUSTRY CONTRIBUTORS (IN DESCENDING ORDER) 2,004 A 2,500 2,000 1,500 S N O I L L I M $ B 1,000 500 0 1,102 1,101 1,089 1,068 1,036 B C D E F 602 G 545 540 427 408 H I J K 2022 357 L 316 M 186 N O 69 P 63 Q 37 A - Real Estate , Owner Occupied and Actual Rents B - Accommodation and Food Services C - Wholesale/Retail trade, Motor Veh repairs D - Financial and Insurance G - Transport and Storage E - Arts, Other Serv, Hld Empl, Extraterr Org.

F - Public admin and defense, Social sec.


H - Construction I - Professional, scientific and tech serv.

J - Information and Communication K - Electricity and gas, Water and Sew L - Human health and social work M - Education P - Manufacturing N - Administrative and support serv.
O - Agri, forestry and fishing Q - Mining and quarrying 4 TABLE 3: GROSS DOMESTIC PRODUCT BY EXPENDITURE (B$ MILLIONS) 2012 - 2022 at Current (Nominal) Prices Expenditure Component 2012 2013 R 2014 R 2015 R 2016 R 2017 R 2018 R 2019 R 2020 R 2021 R 2022 P Final Consumption Expenditure by General Government Non-Profit Institutions Serving Households Households Gross Fixed Capital Formation Buildings and Infrastructure Machinery and Equipment Transport Equipment Databases and Software Changes in Inventories Acquisitions less Disposal of Valuables (1.8) Exports of Goods and Services 4,087.4 4,175.6 4,074.9 4,244.1 3,903.0 3,968.3 4,546.3 4,640.6 2,403.9 3,318.2 4,840.3 Imports of Goods and Services (4,944.7) (4,840.3) (5,145.8) (4,333.7) (4,407.2) (4,912.8) (5,092.3) (4,813.8) (3,354.9) (4,492.7) (5,503.0) Statistical Descrepancy - 18.1 25.1 (37.4) 260.8 74.7 (46.3) 142.7 326.5 260.8 181.3 GDP by expenditure at purchaser prices Current (Nominal) Growth Rate 10,549.7 10,394.5 -3.0% 10,998.1 5.6% 11,672.9 6.4% 11,750.8 0.7% 12,253.5 4.3% 12,653.6 3.3% 13,058.7 3.2% 9,754.6 -25.3% 11,527.6 18.2% 12,897.4 11.9% R: Revised P: Preliminary 5 GRAPH C: Top Four by Industrial Classification (Rev.
4) Real GVA 2021 vs 2022 (B$ Millions) Accommodation and Food Services 550.9 1,102.4 Public administration and defense, Social security 791.2 1,035.8 Electricity and gas, Water supply and sewerage 256.4 407.8 Transport and Storage 452.2 602.2 2021 2022 6 TABLE 4: GROSS DOMESTIC PRODUCT BY EXPENDITURE (B$ MILLIONS) 2012 - 2022 at Constant (Real) Prices 2018 Expenditure Component 2012 2013 R 2014 R 2015 R 2016 R 2017 R 2018 R 2019 R 2020 R 2021 P 2022 P Final Consumption Expenditure by General Government Non-Profit Institutions Serving Households Households 7,161.99 7,018.81 7,395.78 7,492.18 7,604.12 8,082.10 8,116.92 7,225.75 5,908.57 7,337.37 Gross Fixed Capital Formation Buildings and Infrastructure Machinery and Equipment Transport Equipment Databases and Software Changes in Inventories 97.27 81.81 111.71 121.38 120.86 136.08 139.88 135.42 108.45 128.17 152.60 Acquisitions less Disposal of Valuables 2.49 1.53 1.81 (1.73) 3.24 3.24 15.71 20.61 0.58 11.71 10.36 Exports of Goods and Services 4,506.46 4,545.55 4,297.99 4,358.01 4,046.92 4,050.40 4,546.27 4,610.12 2,512.18 3,081.14 4,310.40 Imports of Goods and Services (4,517.97) (4,450.62) (4,795.19) (4,510.51) (4,827.90) (5,204.66) (5,092.26) (4,899.70) (3,558.79) (3,924.24) (3,991.00) Statistical Discrepancy 125.67 440.57 85.85 (46.33) 188.05 689.04 193.17 (27.05) GDP by expenditure at purchaser prices Constant (Real) Growth Rate 12,094.3 0.0% 11,748.1 10.9% 11,965.1 2.1% 12,084.3 -0.5% 11,992.1 -0.8% 12,294.8 2.5% 12,653.6 2.9% 12,559.5 -0.7% 9,607.0 -23.5% 11,238.7 17.0% 12,853.5 14.4% R: Revised P: Preliminary The years 2012 - 2014 have been extrapolated on the 2018 base using the previously published growth patterns, therefore the results are not additive.
7 GRAPH D: HOUSEHOLD EXPENDITURE VS IMPORTS OF GOODS AND SERVICES B$ MILLIONS 2012 - 2022 9000 8000 7000 6000 5000 4000 3000 2000 1000 0 2012 2013 R 2014 R 2015 R 2016 R 2017 R 2018 R 2019 R 2020 R 2021 P 2022 P Households Expenditure Imports of Goods and Services 8 CHART E: REAL FINAL CONSUMPTION EXPENDITURE BY TYPE 2022 Non-Profit Institutions Serving Households 3% General Government 20% Other 77% Households 77% 9 TABLE 5: OUTPUT BY ECONOMIC ACTIVITY (B$ MILLIONS) 2012 - 2021 at Current (Nominal) Prices Industry Classification (Revision 4) ISIC Code 2012 2013 R 2014 R 2015 R 2016 R 2017 R 2018 R 2019 R 2020 R 2021 P 2022 P Agriculture, forestry and fishing Mining and quarrying Manufacturing A B C Electricity and gas, Water supply and sewerage D & E Construction Wholesale and retail trade, Motor Vehicle repairs Transport and Storage Accommodation and Food Services Information and Communication Financial and Insurance activities Real Estate activities, Owner Occupied and Actual Rents Professional, scientific and technical services Administrative and support services Public administration and defense, Social security Education Human health and social work F G H I J K L M N O P Q Arts, Other Services, Household Employment, Extraterritorial Org.
R,S&T Total Output at curent (nominal) prices 16,734.8 16,535.9 17,066.1 17,158.0 17,559.9 18,427.0 18,965.2 19,747.3 15,335.0 17,802.5 19,992.7 R: Revised P: Preliminary 10 TABLE 6: OUTPUT BY ECONOMIC ACTIVITY (B$ MILLIONS) 2012 - 2022 at Constant (Real) Prices (2018 = 100) Industry Classification (Revision 4) ISIC Code 2012 2013 R 2014 R 2015 R 2016 R 2017 R 2018 R 2019 R 2020 R 2021 R 2022 P Agriculture, forestry and fishing Mining and quarrying Manufacturing A B C 172.1 114.1 138.9 153.6 131.7 205.1 132.4 150.9 139.3 132.3 85.9 93.0 1,053.1 1,011.8 1,002.5 1,001.4 1,010.6 1,059.2 Electricity and gas, Water supply and sewerage D & E 852.5 847.2 857.5 1,046.7 1,055.7 1,007.3 115.8 161.4 995.5 987.3 90.1 135.8 957.2 105.8 128.9 760.2 71.3 109.1 771.7 92.8 94.7 747.5 992.9 1,014.7 1,023.7 1,220.1 Construction Wholesale and retail trade, Motor Vehicle repairs Transport and Storage Accommodation and Food Services Information and Communication Financial and Insurance activities Real Estate activities, Owner Occupied and Actual Rents Professional, scientific and technical services Administrative and support services Public administration and defense, Social security Education Human health and social work Arts, Other Services, Household Employment, Extraterritorial Org.
F G H I J K L M N O P Q R,S&T 1,282.4 1,287.3 1,302.8 1,361.7 1,377.5 1,399.3 1,447.5 1,526.5 1,139.5 1,470.6 1,599.0 Total Output at constant (real) prices 17,586.1 17,240.1 17,455.6 17,670.0 18,084.7 18,590.4 18,965.2 19,586.5 15,595.0 17,689.3 19,258.0 R: Revised P: Preliminary The years 2012 - 2014 have been extrapolated on the 2018 base using the previously published growth patterns, therefore the results are not additive.
11 TABLE 7: INTERMEDIATE CONSUMPTION BY ECONOMIC ACTIVITY (B$ MILLIONS) 2012 - 2022 at Current (Nominal) Prices Industry Classification (Revision 4) ISIC Code 2012 2013 R 2014 R 2015 R 2016 R 2017 R 2018 R 2019 R 2020 R 2021 R 2022 P Agriculture, forestry and fishing Mining and quarrying Manufacturing A B C Electricity and gas, Water supply and sewerage D & E Construction Wholesale and retail trade, Motor Vehicle repairs Transport and Storage Accommodation and Food Services Information and Communication Financial and Insurance activities Real Estate activities, Owner Occupied and Actual Rents Professional, scientific and technical services Administrative and support services Public administration and defense, Social security Education Human health and social work F G H I J K L M N O P Q Arts, Other Services, Household Employment, Extraterritorial Org.
R,S&T Intermediate consumption at current (nominal) prices 6,974.2 6,805.8 6,771.3 6,653.1 6,740.9 7,397.4 7,711.8 8,215.3 6,249.0 7,449.2 8,616.2 R: Revised P: Preliminary 12 TABLE 8: INTERMEDIATE CONSUMPTION BY ECONOMIC ACTIVITY (B$ MILLIONS) 2012 - 2022 at Constant (Real) Prices (2018 = 100) Industry Classification (Revision 4) ISIC Code 2012 2013 R 2014 R 2015 R 2016 R 2017 R 2018 R 2019 R 2020 R 2021 R 2022 P Agriculture, forestry and fishing Mining and quarrying Manufacturing A B C Electricity and gas, Water supply and sewerage D & E Construction Wholesale and retail trade, Motor Vehicle repairs Transport and Storage Accommodation and Food Services Information and Communication Financial and Insurance activities Real Estate activities, Owner Occupied and Actual Rents Professional, scientific and technical services Administrative and support services Public administration and defense, Social security Education Human health and social work F G H I J K L M N O P Q Arts, Other Services, Household Employment, Extraterritorial Org.
R,S&T Intermediate consumption at constant (real) prices 6,828.5 6,656.2 6,712.0 6,777.8 6,969.7 7,537.6 7,711.8 8,202.0 6,322.7 7,665.5 8,306.9 R: Revised P: Preliminary The years 2012 - 2014 have been extrapolated on the 2018 base using the previously published growth patterns, therefore the results are not additive.
13 TABLE 9: COMPENSATION OF EMPLOYEES BY ECONOMIC ACTIVITY (B$ MILLIONS) 2012 - 2021 at Current (Nominal) Prices Industry Classification (Revision 4) ISIC Code 2012 2013 R 2014 R 2015 R 2016 R 2017 R 2018 R 2019 R 2020 R 2021 P Agriculture, forestry and fishing Mining and quarrying Manufacturing A B C Electricity and gas, Water supply and sewerage D & E Construction Wholesale and retail trade, Motor Vehicle repairs Transport and Storage Accommodation and Food Services Information and Communication Financial and Insurance activities Real Estate activities, Owner Occupied and Actual Rents Professional, scientific and technical services Administrative and support services Public administration and defense, Social security Education Human health and social work F G H I J K L M N O P Q Arts, Other Services, Household Employment, Extraterritorial Org.
R,S&T Compensation of Employees at current (nominal) prices 3,778.0 3,587.2 3,572.7 3,650.4 3,772.1 4,067.5 3,894.2 4,304.6 3,379.5 4,129.8 R: Revised P: Preliminary 14 Industry Classification (Revision 4) ISIC Code 2012 2013 R 2014 R 2015 R 2016 R 2017 R 2018 R 2019 R 2020 R 2021 P TABLE 10: DEPRECIATION BY ECONOMIC ACTIVITY (B$ MILLIONS) 2012 - 2021 at Current (Nominal) Prices Agriculture, forestry and fishing Mining and quarrying Manufacturing A B C Electricity and gas, Water supply and sewerage D & E Construction Wholesale and retail trade, Motor Vehicle repairs Transport and Storage Accommodation and Food Services Information and Communication Financial and Insurance activities Real Estate activities, Owner Occupied and Actual Rents Professional, scientific and technical services Administrative and support services Public administration and defense, Social security Education Human health and social work F G H I J K L M N O P Q Arts, Other Services, Household Employment, Extraterritorial Org.
R,S&T Depreciation at current (nominal) prices R: Revised P: Preliminary TABLE 11: DEPRECIATION BY ECONOMIC ACTIVITY (B$ MILLIONS) 2012 - 2021 at Constant (Real) Prices Industry Classification (Revision 4) ISIC Code 2012 2013 R 2014 R 2015 R 2016 R 2017 R 2018 R 2019 R 2020 R 2021 P Agriculture, forestry and fishing Mining and quarrying Manufacturing A B C Electricity and gas, Water supply and sewerage D & E Construction Wholesale and retail trade, Motor Vehicle repairs Transport and Storage Accommodation and Food Services Information and Communication Financial and Insurance activities Real Estate activities, Owner Occupied and Actual Rents Professional, scientific and technical services Administrative and support services Public administration and defense, Social security Education Human health and social work F G H I J K L M N O P Q Arts, Other Services, Household Employment, Extraterritorial Org.
R,S&T Depreciation at constant (real) prices R: Revised P: Preliminary The years 2012 - 2014 have been extrapolated on the 2018 base using the previously published growth patterns, therefore the results are not additive.
16 line ITEM 2012 2013 R 2014 R 2015 R 2016 R 2017 R 2018 R 2019 R 2020 R 2021 R 2022 P (B$ Millions) TABLE 12: EXTERNAL TRANSACTIONS ON CURRENT ACCOUNT, SUMMARY 2012 - 2021 at Current (Nominal) Market Prices PAYMENTS TO THE REST OF THE WORLD 1 Imports of goods and services 2 Factor income to the rest of the world 2.1 Property and entrepreneurial income 2.1.1 By Official Transactions 2.1.3 By other Private Interest and Dividends 3 Current transfers to the rest of the world 3.1 Private 3.1.1 Workers Remittances 3.1.2 Other transfers 3.2 General Government 4 Surplus of the nation on current transactions Payments to the rest of the world and surplus of the nation on current transactions 5 RECEIPTS FROM THE REST OF THE WORLD 6 Exports of goods and services 7 Factor income from rest of the world 7.1 Property and entrepreneurial income 7.1.1 By Official Transactions 7.1.2 By Royalty and License Fees 7.1.3 By other Private Interest and Dividends 8 Current transfers from rest of the world 8.1 Private 8.1.1 Workers Remittances 8.1.2 Other transfers 8.2 Government Receipts from the rest of the world on Current Transactions 9 R: Revised P: Preliminary 4,944.7 228.0 228.0 51.1 177.0 127.3 117.8 101.1 16.8 9.4 (966.9) 4,840.3 219.1 219.1 57.8 161.4 169.0 154.5 126.5 28.0 14.5 (814.6) 5,140.1 363.4 363.4 73.8 289.6 206.1 179.0 127.9 51.0 27.2 (1,278.8) 4,333.7 339.3 339.3 79.5 259.8 303.5 287.2 199.9 87.4 16.3 (478.9) 4,407.2 446.8 446.8 87.0 359.8 267.2 241.9 155.0 86.9 25.3 (590.1) 4,912.8 369.9 369.9 93.0 276.9 279.1 265.6 223.6 42.1 13.4 (1,321.7) 5,092.3 694.8 694.8 154.7 540.1 275.5 261.8 181.8 80.0 13.6 (1,267.9) 4,813.8 516.9 516.9 144.0 372.9 257.1 236.6 137.7 98.9 20.5 188.6 3,354.9 424.3 424.3 153.2 271.1 231.1 219.8 139.6 80.1 11.3 (970.5) 4,492.7 426.8 426.8 213.4 213.4 199.8 179.0 111.6 67.3 20.8 (1,676.9) 5,503.0 628.5 628.5 309.4 319.1 150.6 132.1 90.5 41.6 18.5 (1,177.2) 4,333.0 4,413.7 4,430.8 4,497.7 4,531.1 4,240.1 4,794.6 5,776.3 3,039.8 3,442.5 5,104.9 4,087.4 49.7 49.7 16.2 - 33.5 195.9 65.8 - 65.8 130.1
 4,175.6 48.0 48.0 15.5 - 32.5 190.1 53.1 - 53.1 137.0 4,162.9 55.1 55.1 14.6 - 40.5 212.8 67.3 - 67.3 145.5 4,244.1 44.4 44.4 15.3 - 29.1 209.2 62.9 - 62.9 146.3 3,903.0 45.8 45.8 16.0 - 29.8 582.3 439.5 - 439.5 142.8 3,968.3 47.9 47.9 18.1 - 29.8 223.9 96.5 - 96.5 127.4 4,546.3 41.5 41.5 18.4 - 23.1 206.9 60.4 - 60.4 146.5 4,640.6 32.4 32.4 15.4 - 17.0 1,103.3 937.8 - 937.8 165.5 2,403.9 31.3 31.3 20.1 - 11.2 604.6 546.8 - 546.8 57.7 3,318.2 32.2 32.2 21.9 - 10.3 92.2 47.1 - 47.1 45.1 4,840.3 50.2 50.2 40.5 - 9.7 214.5 74.6 - 74.6 139.9 4,333.0 4,413.7 4,430.8 4,497.7 4,531.1 4,240.1 4,794.6 5,776.3 3,039.8 3,442.5 5,104.9 17 TABLE 13: GROSS NATIONAL PRODUCT AT CURRENT MARKET PRICES 2012 - 2021 at Current (Nominal) Market Prices line ITEM 2012 2013 R 2014 R 2015 R 2016 R 2017 R 2018 R 2019 R 2020 R 2021 R 2022 P (B$ Millions) 1 GROSS DOMESTIC PRODUCT 10,720.50 10,395.52 10,974.76 11,672.93 11,750.85 12,253.53 12,653.60 13,058.70 9,754.56 11,527.57 12,897.42 2 Net Property & Entrepreneurial income from abroad -178.32 -171.11 -308.28 -294.97 -401.03 -321.94 -653.33 -484.52 -392.96 -394.67 -578.34 2.1 Property & entrepreneurial income received from abroad 49.70 48.01 55.11 44.36 45.78 47.93 41.45 32.39 31.32 32.16 50.20 2.2 Property & entrepreneurial income sent abroad 228.02 219.12 363.39 339.33 446.81 369.88 694.78 516.91 424.28 426.83 628.54 3 GROSS NATIONAL PRODUCT 10,542.17 10,224.41 10,666.47 11,377.96 11,349.81 11,931.59 12,000.27 12,574.18 9,361.60 11,132.91 12,319.08 Population In Thousands (1) 360.4 364.0 367.7 371.5 375.3 379.2 383.2 387.2 391.3 395.4 399.3 $32,313 $29,749 GDP per head (2) $31,464 $29,254 GNP per head (2) (1) Population 2022 is based on Preliminary Census 2022 Report.
The years 2011 - 2021 is extrapolated based on previously published growth rates (2) Actual Dollars $28,558 $28,088 $29,845 $29,007 $31,422 $30,628 $31,309 $30,241 $33,021 $31,316 $33,723 $32,472 $24,927 $23,923 $29,155 $28,157 $32,299 $30,851 R: Revised P: Preliminary 18 TABLE 14: GROSS & NET NATIONAL INCOME, GROSS NATIONAL DISPOSABLE INCOME GROSS SAVINGS, NET LENDING/BORROWING 2012 - 2022 at Current (Nominal) Market Prices line ITEM 2012 2013 R 2014 R 2015 R 2016 R 2017 R 2018 R 2019 R 2020 R 2021 R 2022 P 1 Gross Domestic Product at Current Market Prices 10,720.50 10,395.52 10,974.76 11,672.93 11,750.85 12,253.53 12,653.60 13,058.70 9,754.56 11,527.57 12,897.42 Net Property & Entrepreneurial Income from/to the Rest of the World (Private Int & dividends, Official trans) 2 -178.32 -171.11 -308.28 -294.97 -401.03 -321.94 -653.33 -484.52 -392.96 -394.67 -578.34 3 Net Compensation of Employees w/Rest of World -101.05 -126.49 -127.93 -199.88 -154.97 -223.59 -181.78 -137.66 -139.62 -111.65 -90.50 (B$ Millions) 4 GROSS NATIONAL INCOME 10,441.12 10,097.92 10,538.55 11,178.08 11,194.85 11,708.00 11,818.50 12,436.52 9,221.98 11,021.26 12,228.59 Net Current Transfers from/to the Rest of the World (incl Workers Remittances, Oth Transfers, Govt Transfers) 5 68.65 21.14 6.66 -94.31 315.08 -55.18 -68.60 846.25 373.48 -107.66 63.88 6 GROSS NATIONAL DISPOSABLE INCOME 10,509.77 10,119.05 10,545.21 11,083.77 11,509.93 11,652.82 11,749.89 13,282.76 9,595.46 10,913.60 12,292.46 7 Final Consumption Expenditure 8,217.71 7,983.55 8,425.01 8,886.47 8,931.01 9,704.26 9,889.33 9,620.83 7,991.36 9,659.88 10,581.01 8 GROSS SAVING 2,292.07 2,135.50 2,120.20 2,197.31 2,578.92 1,948.56 1,860.56 3,661.93 1,604.10 1,253.72 1,711.45 9 Net Capital Transfers (migrants transfers) -7.28 -13.02 -10.97 -20.15 -13.78 -26.12 -20.66 -20.15 -13.94 -11.15 -9.03 10 Gross Capital Formation 3,360.03 3,058.52 3,497.57 2,913.44 3,063.25 3,419.12 3,356.59 3,468.33 2,387.63 2,781.42 2,797.85 11 NET LENDING/NET BORROWING -1,075.25 -936.04 -1,388.35 -736.29 -498.11
 -1,496.68 -1,516.69 173.45 -797.48 -1,538.85 -1,095.43 R: Revised P: Preliminary 19 CHART F: REAL GDP 1997 - 2022 B$ MILLIONS 14000 13000 12000 11000 10000 9000 8000 20 REVISED HISTORICAL SERIES 1997 - 2011 TABLE 15: GROSS DOMESTIC PRODUCT BY ECONOMIC ACTIVITY (B$ MILLIONS) CURRENT (NOMINAL) PRICES Industry Classification (Revision 4) ISIC Code 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Agriculture, forestry and fishing Mining and quarrying Manufacturing A B C Electricity and gas, Water supply and sewerage D & E Construction Wholesale and retail trade, Motor Vehicle repairs Transport and Storage Accommodation and Food Services Information and Communication Financial and Insurance activities Real Estate activities, Owner Occupied and Actual Rents Professional, scientific and technical services Administrative and support services Public administration and defense, Social security Education Human health and social work F G H I J K L M N O P Q Arts, Other Services, Household Employment, Extraterritorial Org.
R,S&T Total GDP at Basic Prices Taxes less subsidies on products GDP by economic activity at purchaser current (nominal) prices 7,683.87 ***NOTE: The Historical Series is based on Previously Published growth patterns, therefore the results are not additive.
6,833.22 6,332.36 8,076.47 8,317.83 8,881.16 8,870.09 9,055.29 9,836.20 10,167.25 10,618.34 10,526.00 9,981.96 10,095.76 10,070.45 21 Industry Classification (Revision 4) ISIC Code 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 REVISED HISTORICAL SERIES 1997 - 2011 TABLE 16: GROSS DOMESTIC PRODUCT BY ECONOMIC ACTIVITY (B$ MILLIONS) CONSTANT (REAL) PRICES Agriculture, forestry and fishing Mining and quarrying Manufacturing A B C Electricity and gas, Water supply and sewerage D & E Construction Wholesale and retail trade, Motor Vehicle repairs Transport and Storage Accommodation and Food Services Information and Communication Financial and Insurance activities Real Estate activities, Owner Occupied and Actual Rents Professional, scientific and technical services Administrative and support services Public administration and defense, Social security Education Human health and social work Arts, Other Services, Household Employment, Extraterritorial Org.
F G H I J K L M N O P Q R,S&T 1,025.2 1,056.0 1,130.1 1,072.4 1,076.9 1,103.6 1,135.0 1,226.9 1,168.2 1,103.2 1,130.5 1,001.4 799.6 849.5 828.6 Total GDP at Basic Prices 8,307.3 8,657.7 9,388.4 9,598.7 9,882.6 10,133.7 10,066.5 10,249.7 10,594.5 10,603.9 10,801.0 10,528.0 10,036.3 10,212.2 10,257.4 Taxes less subsidies on products 1,093.0 1,191.5 1,285.3 1,385.6 1,458.5 1,361.6 1,376.8 1,341.1 1,321.5 1,519.7 1,543.8 1,534.3 1,372.9 1,269.8 1,347.3 GDP by economic activity at purchaser constant (real) prices 9,300.8 9,739.5 10,435.3 10,868.2 11,153.6 11,455.3 11,310.4 11,410.2 11,797.7 12,094.6 12,269.5 11,984.4 11,484.0 11,660.7 11,732.2 ***NOTE: The Historical Series is based on Previously Published growth patterns, therefore the results are not additive.
22 HISTORICAL SERIES 1997 - 2011 TABLE 17: GROSS DOMESTIC PRODUCT BY EXPENDITURE ($ MILLIONS) CURRENT (NOMINAL) PRICES Expenditure Component 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Final Consumption Expenditure by General Government Non-Profit Institutions Serving Households Households 3,628.7 3,993.5 4,303.7 4,467.2 4,861.7 4,866.0 4,958.9 5,112.9 5,643.6 6,040.0 6,193.5 6,224.9 5,839.2 6,012.2 6,122.2 Gross Fixed Capital Formation Buildings and Infrastructure Machinery and Equipment Transport Equipment Databases and Software Changes in Inventories Acquisitions less Disposal of Valuables Exports of Goods and Services 2,335.4 2,368.2 2,801.3 3,072.9 2,834.1 3,212.8 3,176.4 3,460.5 3,812.5 3,895.0 4,257.1 4,157.1 3,412.9 3,528.8 3,769.9 Imports of Goods and Services (2,713.7) (2,943.0) (3,015.6) (3,359.6) (3,196.4) (3,028.7) (3,127.0) (3,421.7) (4,193.8) (5,006.5) (5,088.4) (5,045.7) (4,225.4) (4,414.1) (5,125.7) GDP by expenditure at purchaser prices Current (Nominal) Growth Rate 6,332.4 6,833.2 7.9% 7,683.9 12.4% 8,076.5 5.1% 8,317.8 3.0% 8,881.2 6.8% 8,870.1 -0.1% 9,055.3 2.1% 9,836.2 8.6% 10,167.3 3.4% 10,618.3 4.4% 10,526.0 -0.9% 9,982.0 -5.2% 10,095.8 1.1% 10,070.4 -0.3% ***NOTE: The Historical Series is based on Previously Published growth patterns, therefore the results are not additive.
23 HISTORICAL SERIES 1997-2011 HISTORICAL SERIES 1997-2011 TABLE 18: GROSS DOMESTIC PRODUCT BY EXPENDITURE ($ MILLIONS) TABLE 18: GROSS DOMESTIC PRODUCT BY EXPENDITURE ($ MILLIONS) CONSTANT (REAL) PRICES CONSTANT (REAL) PRICES Expenditure Component 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Final Consumption Expenditure by General Government Non-Profit Institutions Serving Households Households 6,145.61 6,888.13 7,463.95 7,634.92 7,687.55 7,979.14 7,951.77 7,831.85 8,475.30 8,725.44 8,834.64 8,497.25 7,622.06 7,704.34 7,507.61 Gross Fixed Capital Formation Buildings and Infrastructure Machinery and Equipment Transport Equipment Databases and Software Changes in Inventories 58.39 61.45 77.20 162.62 110.16 102.72 93.45 90.05 97.29 97.12 95.48 93.67 95.22 96.67 131.59 Acquisitions less Disposal of Valuables 2.00 2.26 2.33 2.46 2.36 2.30 0.79 7.47 4.16 4.49 8.14 3.15 5.59 4.56 5.80 Exports of Goods and Services 2,287.72 2,259.45 2,410.18 2,526.61 2,657.86 2,671.72 2,689.76 3,004.39 2,940.09 2,997.25 2,954.52 2,889.49 2,797.71 2,833.37 3,011.36 Imports of Goods and Services (3,409.79) (3,865.98) (3,980.91) (4,199.20) (4,040.63) (3,928.65) (3,942.02) (4,081.57) (4,664.33) (5,233.76) (5,040.93) (4,743.66) (4,164.51) (4,148.20) (4,457.88) GDP by expenditure at purchaser prices Constant (Real) Growth Rate 9,300.8 9,739.5 4.7% 10,435.3 7.1% 10,868.2 4.1% 11,153.6 2.6% 11,455.3 2.7% 11,310.4 -1.3% 11,410.2 0.9% 11,797.7 3.4% 12,094.6 2.5% 12,269.5 1.4% 11,984.4 -2.3% 11,484.0 -4.2% 11,660.7 1.5% 11,732.2 0.6% ***NOTE: The Historical Series is based on Previously Published growth patterns, therefore the results are not additive.


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