DOCSLIB.ORG

Annual Economic and Financial Review

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Economic and Financial Review Annual Economic and Financial Review 2014 E A S T E R N C A R I B B E A N C E N T R A L B A N K ADDRESS Headquarters: P O Box 89 Basseterre St Kitts and Nevis West Indies Cable: CENTRAL BANK, ST KITTS Telephone: (869) 465-2537 Facsimile: (869) 465-5615 Email: [email protected] Website: www.eccb-centralbank.org The ECCB welcomes your questions and comments on this publication. C O N T E N T S ECONOMIC REVIEW: International Economic Developments……………………………………………….1 Domestic Economic Developments ............................................................................... 8 Country Performances: Anguilla ............................................................................................................ 27 Antigua and Barbuda ........................................................................................ 37 Dominica ........................................................................................................... 48 Grenada ............................................................................................................. 58 Montserrat ......................................................................................................... 69 St Kitts and Nevis ............................................................................................. 80 Saint Lucia ........................................................................................................ 93 St Vincent and the Grenadines ....................................................................... 106 NOTES ON STATISTICAL TABLES…………………………………………………….118 STATISTICAL TABLES INDEX ………………………………………………………...119 STATISTICAL TABLES ...................................................................................................... 121 SPEECH BY GOVERNOR OF THE ECCB………………………………………………169 Annual Economic and Financial Review 2014 INTERNATIONAL ECONOMIC DEVELOPMENTS INTERNATIONAL E C O N O M I C D E V E L O P M E N T S Overview subdued. Monetary policy was accommodative during the year to facilitate Economic developments in 2014 were for the growth and support inflation targets. most part positive, an indication that global output may have stabilized. According to the Global output is expected to increase further International Monetary Fund’s World in 2015, albeit at an uneven pace. Growth Economic Outlook (January 2015), the world will be led by expansions in the advanced economy grew by 3.3 per cent in 2014, the economies, particularly the USA, while same level as in 2013. Growth was driven emerging markets will experience a by developments in the advanced economies, slowdown in activity. Downside risks to namely the USA and the UK as emerging these projections include geopolitical tensions markets recorded lower than anticipated in Eastern Europe and the Middle East, growth. The oil price shock which took which may affect trade flows; deflation in the place in mid 2014 had a positive impact on Euro area and the uncertainty of the impact consumer spending and business investment of policy measures implemented to generate in the advanced economies, contributing to sustained positive growth; sudden movements an uptick in economic activity. Meanwhile, in oil and other commodity prices; and less the fall in oil prices worsened the external than anticipated growth in advanced vulnerabilities of oil exporting emerging economies due to domestic developments. market economies as their balance of payments surpluses shrank and fiscal Macro-economic Developments in the balances took a hit. Moreover, growth in Major Economies China, the largest emerging market economy Real GDP and Labour Market slowed primarily due to developments in the Developments real estate sector and lower industrial Economic output in the USA is estimated to production. Labour market conditions have increased by 2.4 per cent in 2014, improved overall, concomitant with positive compared with growth of 2.2 per cent in growth while inflationary pressures were 2013. The outturn was attributable to 1 Eastern Caribbean Central Bank Annual Economic and Financial Review 2014 INTERNATIONAL ECONOMIC DEVELOPMENTS positive contributions from personal lowest rate since 2008. The civilian labour consumption expenditures (PCE), net participation rate averaged 62.9 per cent, exports, non-residential and residential fixed compared with 63.3 per cent in 2013. investments, private inventory investment Meanwhile, despite the reduction in and state and local government spending. unemployment, wage growth was at a tepid Those increases were partly offset by the 1.7 per cent, significantly below the negative contribution from federal 3.5 per cent required to push the inflation government spending. On a quarterly basis rate at or above the Federal Reserve’s target the economy contracted by 2.1 per cent in of 2.0 per cent. the first quarter of 2014, due to adverse weather, which disrupted industrial The UK economy grew by 2.6 per cent in production, construction, shipments, and 2014, relative to growth of 1.7 per cent in house and auto sales. The first quarter 2013, the fastest annual growth rate in seven contraction was the worst performance of the years. The acceleration in the rate of growth economy since the first quarter of 2009. was primarily driven by a 3.0 per cent However, in the remaining three quarters, increase in the services sector, which the economy gained traction, growing by accounted for more than three quarters of 4.6 per cent, 5.0 per cent and 2.2 per cent in output. Other positive contributions came the second, third and fourth quarters, from construction (7.3 per cent) and respectively. Consumer spending, which manufacturing (2.7 per cent) while value accounted for over 70.0 per cent of GDP, added in the mining and quarrying sector accelerated during the year buoyed by declined by 0.2 per cent. The annual savings from cheaper gasoline prices. unemployment rate fell to 6.3 per cent from However, the strengthening of the dollar 7.8 per cent in 2013, partly due to an against a basket of currencies spurred an increase in self-employment. However, the uptick in imports and constrained exports. rate of employment growth and the speed at Concomitant with the growing economy, US which unemployment fell slowed in the labour market conditions improved in 2014. second half of the year. The annual unemployment rate declined to 6.2 per cent from 7.4 per cent in 2013, the In 2014 real GDP rose by 0.9 per cent in the 2 Eastern Caribbean Central Bank Annual Economic and Financial Review 2014 INTERNATIONAL ECONOMIC DEVELOPMENTS Euro area, in contrast to a contraction of sector hiring. Due to population aging, the 0.5 per cent in 2013. Positive value added labour market participation rate fell by was recorded in household consumption 0.6 percentage points to 65.7 per cent, the expenditure, gross fixed capital formation lowest rate since 2000. and net exports, tempered by negative contribution from inventories. The outturn The economy of China expanded by in the Euro area was attributable to 7.4 per cent in 2014, slightly below the developments in the four largest economies. official target of 7.5 per cent and the Output expanded in Germany, France and 7.7 per cent recorded in 2013. On a Spain while that of Italy contracted. The quarterly basis, GDP grew by 7.3 per cent in Euro area seasonally-adjusted unemployment the fourth quarter of 2014, slightly better rate stood at 11.3 per cent in December 2014 than expectations. The annual outturn was from 11.8 per cent in January 2014 as the lowest rate of growth since 1990. The economic conditions improved slightly. The expansion was driven by greater value added lowest rates of unemployment were recorded from the agricultural sector and industrial for Austria (4.9 per cent) and Germany production, mainly mining and (5.0 per cent), while Greece recorded the manufacturing activity, as growth in fixed highest rate at 25.8 per cent. assets slowed. Consumption (51.2 per cent) and services (48.2 per cent), the major In Canada real GDP grew by 2.5 per cent in contributors to the overall economy in 2014, 2014 following growth of 2.0 per cent in increased by 3.0 percentage points and 2013. The outturn reflected increases in 1.3 percentage points, respectively. The household spending, business investment, urban unemployment rate stood at government investment and exports. On the 4.1 per cent at the end of December 2014. production side, the increase in value added emanated from all major industrial sectors Commodity and Consumer Prices except agriculture and forestry. In the 12 months to December, the unemployment Commodity prices declined in 2014 reflective rate fell by 0.5 percentage points to of lower prices for energy, metals and food 6.7 per cent mainly due to a rise in private largely associated with supply side 3 Eastern Caribbean Central Bank Annual Economic and Financial Review 2014 INTERNATIONAL ECONOMIC DEVELOPMENTS developments. The decision by OPEC to to a reduction in inflationary pressures in the maintain its production level despite major economies. The Consumer Price increasing production by non OPEC Index (CPI) in the USA rose at a slower rate producers and a slowdown in the rate of of 0.8 per cent during 2014 compared with growth in China contributed to excess supply one of 1.5 per cent during 2013. Increases warranting a reduction in oil prices. The in the food, shelter and rent sub-indices were average price of West Texas Intermediate largely offset by a sharp decline in the (WTI) fell to US$93.3 per barrel in
Load more

Recommended publications
  • Focusissue1jan-March2011.Pdf
    ECLAC SUBREGIONAL HEADQUARTERS FOR THE CARIBBEAN Newsletter of the Caribbean Development and Cooperation Committee (CDCC) “THE TIME FOR EQUALITY HAS ARRIVED IN LATIN AMERICA AND THE CARIBBEAN” - Alicia Bárcena, Executive Secretary of ECLAC ECLAC IDENTIFIES NEW COOPERATION OPPORTUNITIES BETWEEN THE UNITED STATES AND LATIN AMERICA AND THE CARIBBEAN BUILDING RESILIENCE TO ADVANCE SUSTAINABLE LIVELIHOODS WHAT’S INSIDE: WHAT’S AND DEVELOPMENT IN SAINT LUCIA IN THE AFTERMATH OF HURRICANE TOMAS THE ROAD TO RIO+20 ISSUE 1 / JANUARY - MARCH 2011 ABOUT ECLAC/CDCC Issue 1 / January - March 2011 The Economic Commission for Latin America and the Caribbean (ECLAC) is one of five regional commissions of the United Nations Economic and Social Council (ECOSOC). It was established in 1948 to support Latin American governments in the economic and social “The Time for Equality has arrived in Latin America development of that region. Subsequently, in 1966, the Commission (ECLA, at that time) established the Subregional Headquarters for the and the Caribbean”- Alicia Bárcena, Executive Secretary of ECLAC 3 Caribbean in Port of Spain to serve all countries of the insular Caribbean, as well as Belize, Guyana and Suriname, making it the largest United ECLAC identifies New Cooperation Opportunities Nations body in the subregion. between the United States and Latin America and At its sixteenth session in 1975, the Commission agreed to create the the Caribbean 4 Caribbean Development and Cooperation Committee (CDCC) as a permanent subsidiary body, which would function within the ECLA Building Resilience to Advance Sustainable Livelihoods structure to promote development cooperation among Caribbean and Development in Saint Lucia in the Aftermath of countries.
    [Show full text]
  • Saint Lucia Covid-19 Heat Report Human and Economic Assessment of Impact
    UNDP, UNICEF and UN Women COVID-19 | HEAT Series UNDP,UNICEF and UN Women EASTERN CARIBBEAN SAINT LUCIA COVID-19 HEAT REPORT HUMAN AND ECONOMIC ASSESSMENT OF IMPACT Based on research conducted by Dr. Indera Sagewan www.bb.undp.org https://caribbean.unwomen.org www.unicef.org/easterncaribbean COVID-19 | HEAT SERIES COVID-19 HUMAN AND ECONOMIC COVIASSESSMENTD-19 HEAT Series OF IMPACT COVID-19 HEAT SERIES ANGUILLA COVID-19 HEAT Report- Human and Economic Assessment of Impact ANTIGUA AND BARBUDA COVID-19 HEAT Report- Human and Economic Assessment of Impact BARBADOS COVID-19 HEAT Report- Human and Economic Assessment of Impact BRITISHVIRGIN ISLANDS COVID-19 HEAT Report- Human and Economic Assessment of Impact COMMONWEALTH OF DOMINICA COVID-19 HEAT Report- Human and Economic Assessment of Impact GRENADA COVID-19 HEAT Report- Human and Economic Assessment of Impact SAINT LUCIA COVID-19 HEAT Report- Human and Economic Assessment of Impact SAINTVINCENT ANDTHE GRENADINES COVID-19 HEAT Report- Human and Economic Assessment of Impact Disclaimer: COVID-19 HEAT Series July 2020 The views, designations, and recommendations that are presented in this report do not necessarily reflect the official position of UNDP, UNICEF or UN Women. 2020 | UNDP, UNICEF & UN Women 2 COVID-19 HEAT Series ACKNOWLEDGEMENTS Resident Representative UNDP Barbados and the Eastern Caribbean, Magdy Martinez -Soliman Representative UNICEF Office for the Eastern Caribbean Area, Aloys Kamuragiye Representative a.i. UN Women Multi-Country Office for the Caribbean, Tonni-Ann Brodber Technical Team Jason LaCorbiniere, UNDP - Lead Coordinator Maya Faisal, UNICEF - Coordinator Isiuawa Iyahen, UN Women - Coordinator Lyanna Harracksingh, UNICEF Debbie Budlender, UN Women Stuart Davies, UN RCO Gonzalo Fanjul, IS Global Shani Leacock, UNDP Melissa Bohne, UNDP The authors and technical team are grateful for the support of all individuals across various Government ministries, agencies and departments who provided data and feedback on the drafts.
    [Show full text]
  • Fiscal and Structural Reforms in Saint Lucia: Towards a Comprehensive
    FISCAL AND STRUCTURAL REFORMS IN SAINT LUCIA: TOWARDS A COMPREHENSIVE AGENDA NOVEMBER 2016 FISCAL AND STRUCTURAL REFORMS IN SAINT LUCIA: TOWARDS A MORE COMPREHENSIVE AGENDA vi Disclaimer Copyright © Caribbean Development Bank (CDB). The opinions, findings, interpretations and conclusions expressed in this publication are those of the staff of CDB and do not necessarily reflect the official policy or position of CDB, its Board of Directors, or the countries they represent. This work may be reproduced, with attribution to CDB, for any non-commercial purpose. The use of CDB's name for any purpose other than for attribution, and the use of CDB's logo shall be subject to a separate written licence agreement between CDB and the user and is not authorized as part of this licence. No derivative work is allowed. CDB does not necessarily own each component of the content contained within this document and therefore does not warrant that the use of any third-party owned individual component or part contained in this work will not infringe on the rights of those third parties. Any risks of claims resulting from such infringement rest solely with the user. CDB does not guarantee the accuracy of the data included in this work. Any dispute related to the use of the works of CDB that cannot be settled amicably shall be submitted to arbitration pursuant to the UNCITRAL rules. Nothing herein shall constitute or be deemed to constitute a waiver of the privileges and immunities of CDB, all of which are specifically reserved. FISCAL AND STRUCTURAL REFORMS IN SAINT LUCIA: TOWARDS A MORE COMPREHENSIVE AGENDA ii Acknowledgements The Caribbean Development Bank expresses appreciation to the Eastern Caribbean Central Bank for its contribution to the Report, as well as to the Staff of the Ministry of Finance, especially the Research and Policy Unit, who provided invaluable assistance on this project.
    [Show full text]
  • Saint Lucia National Invasive Species Strategy
    Box SAINT LUCIA NATIONAL INVASIVE SPECIES STRATEGY 2012 - 2021 Ministry of Agriculture, Lands, Forestry and Fisheries SAINT LUCIA NATIONAL INVASIVE SPECIES STRATEGY 2012-2021 PREPARED BY Vasantha Chase Marie-Louise Felix Guy Mathurin Lyndon John Gaspard Michael Andrew David Lewis Ulrike Krauss October 2011 Carried out under the Project Mitigating the Threats of Invasive Alien Species in the Insular Caribbean Project No. GFL / 2328 – 2713-4A86, GF-1030-09-03 Lionfish throughout the Caribbean region. The destructive FORE FOREWORD biological, social and economic impact of IAS has prompted Invasive alien species (IAS) are species whose introduction many nations to develop and implement National Invasive and/or spread outside their natural habitats threaten Species Strategies (NISS), because in dealing with IAS the biological diversity (CBD 2009). IAS are recognised as one best defense is a good offense. Once an IAS becomes of the leading threats to biodiversity, considered only second established, the cost of eradication is financially prohibitive to habitat loss in terms of negative impact. They are and a strain on a small island fragile economy like Saint imposing enormous costs on agriculture, forestry, fisheries, Lucia which is heavily dependent on the health of its natural and other enterprises, on human and animal health as well resources. Therefore efforts at prohibiting entry in the first as ecosystem services. Rapidly accelerating human trade, instance are a prudent and cost effective approach to IAS tourism, transport, and travel – the infamous “four Ts” - management. over the past century have dramatically enhanced the spread of IAS, allowing them to surmount natural geographic The Government of Saint Lucia, through its Ministry of barriers.
    [Show full text]
  • 2020 Annual Economic and Financial Review
    E A S T E R N C A R I B B E A N C E N T R A L B A N K ADDRESS Headquarters: P O Box 89 Basseterre Saint Christopher (St Kitts) and Nevis West Indies Telephone: (869) 465-2537 Facsimile: (869) 465-5615 Email: [email protected] Website: www.eccb-centralbank.org The ECCB welcomes your questions and comments on this publication. COUNTRY ECONOMISTS UNIT 2020 Annual Economic and Financial Review RESEARCH DEPARTMENT Acting Director The Eastern Caribbean Central Bank prepares an Economic and Financial Ms Patricia Welsh Review for the Eastern Caribbean Currency Union and each individual member territory for the periods ending June and December of each year. Administrative Editor Ms Patricia Welsh Mrs Beverley Labadie Contributors Senior Economists Ms Beverly Lugay (Acting) Mr Leon Bullen (Acting) Ms Martina Regis (Acting) Correspondence regarding the Annual Economic and Financial Review should be addressed to: Economists II Mr Kevin Woods The Director Economists I Research Department Ms Rochelle Harris Eastern Caribbean Central Bank Mr Peter Abraham Jr P O Box 89 BASSETERRE Statistics Department St Kitts Administrative Officer Ms Sheena Gonsalves Tel: (869) 465 2537 Fax: (869) 465 5615 Email: rd-sec@eccb- centralbank.org Cover Design Bevan & Beverley Labadie Website: http://www.eccb-centralbank.org/ Photo Credit Anguilla – Beverly Lugay Antigua and Barbuda – Peter Abraham The Annual Economic and Financial Review is a publication of the Eastern Caribbean Central Bank Commonwealth of Commonwealth of Dominica – Beverly Lugay Grenada – David Bullen Montserrat – Montserrat Tourist Information Centre Saint Christopher (St Kitts) and Nevis – Beverley Labadie Saint Lucia – Saint Lucia Tourism Authority Saint Vincent and the Grenadines – Rico Audain C O N T E N T S ECONOMIC REVIEW: DOMESTIC ECONOMIC DEVELOPMENTS ....................................................................
    [Show full text]
  • Delegation of the European Commission to Barbados and the Eastern Caribbean
    DELEGATION OF THE EUROPEAN COMMISSION TO BARBADOS AND THE EASTERN CARIBBEAN OFFICE OF THE NATIONAL AUTHORISING OFFICER IN SAINT LUCIA COOPERATION BETWEEN THE EUROPEAN UNION AND SAINT LUCIA JOINT ANNUAL REPORT 2008 In conformity with Article 81 of The Cotonou Agreement 1/29 TABLE OF CONTENTS 1. THE COUNTRY PERFORMANCE 5 1.1 UPDATE ON THE POLITICAL SITUATION AND POLITICAL GOVERNANCE 5 1.2 UPDATE OF THE ECONOMIC SITUATION AND ECONOMIC GOVERNANCE 5 1.3 UPDATE OF THE POVERTY AND SOCIAL SITUATION 7 1.4 UPDATE ON THE ENVIRONMENTAL SITUATION 8 2. OVERVIEW OF PAST AND ONGOING CO-OPERATION 9 2.2 REPORTING ON GENERAL AND SECTOR BUDGET SUPPORT 9 2.3 PROJECTS AND PROGRAMMES IN THE FOCAL AND NON FOCAL AREAS 10 2.6 DIALOGUE IN COUNTRY WITH THE NATIONAL PARLIAMENTS, LOCAL AUTHORITIES AND NSAS 16 3. CONCLUSIONS 17 2/29 EXECUTIVE SUMMARY There was no significant political development in St. Lucia during 2008. General elections are constitutionally due in 2011. There were several episodes of cabinet reshuffling by the Prime Minister, the Hon. Stephenson King, as well as much public debate regarding the severing of ties with the People's Republic of China in favour of the Republic of China on Taiwan. The Taiwanese Government is presently assisting the Government of St. Lucia in the areas of community-based infrastructure, ICT, Health (completion of the Psychiatric Hospital) and Agriculture. In the context of the cooperation programme with the European Union, the signature of the works contract for the construction of the new national hospital represented a defining moment for both the European Commission and the Government and people of St.
    [Show full text]
  • Human-And-Economic-Assessment
    UNDP, UNICEF and UN Women COVID-19 | HEAT Series UNDP,UNICEF and UN Women EASTERN CARIBBEAN SAINT LUCIA COVID-19 HEAT REPORT HUMAN AND ECONOMIC ASSESSMENT OF IMPACT Based on research conducted by Dr. Indera Sagewan www.bb.undp.org https://caribbean.unwomen.org www.unicef.org/easterncaribbean COVID-19 | HEAT SERIES COVID-19 HUMAN AND ECONOMIC COVIASSESSMENTD-19 HEAT Series OF IMPACT COVID-19 HEAT SERIES ANGUILLA COVID-19 HEAT Report- Human and Economic Assessment of Impact ANTIGUA AND BARBUDA COVID-19 HEAT Report- Human and Economic Assessment of Impact BARBADOS COVID-19 HEAT Report- Human and Economic Assessment of Impact BRITISHVIRGIN ISLANDS COVID-19 HEAT Report- Human and Economic Assessment of Impact COMMONWEALTH OF DOMINICA COVID-19 HEAT Report- Human and Economic Assessment of Impact GRENADA COVID-19 HEAT Report- Human and Economic Assessment of Impact SAINT LUCIA COVID-19 HEAT Report- Human and Economic Assessment of Impact SAINTVINCENT ANDTHE GRENADINES COVID-19 HEAT Report- Human and Economic Assessment of Impact Disclaimer: COVID-19 HEAT Series July 2020 The views, designations, and recommendations that are presented in this report do not necessarily reflect the official position of UNDP, UNICEF or UN Women. 2020 | UNDP, UNICEF & UN Women 2 COVID-19 HEAT Series ACKNOWLEDGEMENTS Resident Representative UNDP Barbados and the Eastern Caribbean, Magdy Martinez -Soliman Representative UNICEF Office for the Eastern Caribbean Area, Aloys Kamuragiye Representative a.i. UN Women Multi-Country Office for the Caribbean, Tonni-Ann Brodber Technical Team Jason LaCorbiniere, UNDP - Lead Coordinator Maya Faisal, UNICEF - Coordinator Isiuawa Iyahen, UN Women - Coordinator Lyanna Harracksingh, UNICEF Debbie Budlender, UN Women Stuart Davies, UN RCO Gonzalo Fanjul, IS Global Shani Leacock, UNDP Melissa Bohne, UNDP The authors and technical team are grateful for the support of all individuals across various Government ministries, agencies and departments who provided data and feedback on the drafts.
    [Show full text]
  • Determining the Feasibility of Establishing a Test Case Resource Recovery Programme in the Urban Poor Community of Faux-A-Chaud, Saint Lucia
    Wasted Lives: Determining the Feasibility of Establishing a Test Case Resource Recovery Programme in the Urban Poor Community of Faux-a-Chaud, Saint Lucia By Laurah M. John B.A. (Hons.), Bishop’s University, 2009 PROJECT SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE DEGREE OF MASTER OF URBAN STUDIES in the Urban Studies Program Faculty of Arts and Social Sciences © Laurah Mavis John 2012 SIMON FRASER UNIVERSITY Summer 2012 All rights reserved. However, in accordance with the Copyright Act of Canada, this work may be reproduced, without authorization, under the conditions for “Fair Dealing.” Therefore, limited reproduction of this work for the purposes of private study, research, criticism, review and news reporting is likely to be in accordance with the law, particularly if cited appropriately. Approval Name: Laurah M. John Degree: Master of Urban Studies Title of Thesis: Wasted Lives: Determining the Feasibility of Establishing a Test Case Resource Recovery Programme in the Urban Poor Community of Faux-a-Chaud, Saint Lucia Examining Committee: Chair: Meg Holden Associate Professor, Urban Studies and Geography ______________________________ Patrick J. Smith Professor, Urban Studies and Political Science Senior Supervisor __________________________________ Peter V. Hall Associate Professor, Urban Studies Supervisor __________________________________ Hannah Wittman Assistant Professor, Sociology External Examiner Date Defended/Approved: _____________May 11th,___________ 2012 ______ ii Partial Copyright Licence Ethics Statement The author, whose name appears on the title page of this work, has obtained, for the research described in this work, either: a. human research ethics approval from the Simon Fraser University Office of Research Ethics, or b. advance approval of the animal care protocol from the University Animal Care Committee of Simon Fraser University; or has conducted the research c.
    [Show full text]
  • Economic Benefits from Air Transport in the Caribbean Islands
    pro Economic Benefits from Air Transport in the Caribbean Islands Caribbean report Acknowledgements Oxford Economics gratefully acknowledge the help that we received from the International Air Transport Association (IATA) in preparation of this report. Through a survey conducted by IATA many organisations across the aviation industry supplied us with data that has formed an integral part of our analysis. In addition, the Airports Council International (ACI) very kindly provided us data on the economic activities at airports. We would like to thank all these organisations for their generosity in supplying this data, without which this report could not have been written. A note on the data reported in the report Unless otherwise stated, the numbers reported in this report relate to the calendar year 2009. Oxford Economics 2011 v1.1 2 Caribbean report Contents Facts & figures .......................................................................................... 5 1 Enabling long-term economic growth ............................................ 7 1.1 Connectivity ................................................................................................ 7 1.2 Catalytic effects – tourism .......................................................................... 8 1.2.1 The Bahamas ..................................................................................... 9 1.2.2 Cuba ................................................................................................... 9 1.2.3 Grenada ..........................................................................................
    [Show full text]
  • National Export Strategy
    Government of Saint Lucia SAINT LUCIA NATIONAL TRADE STRATEGY 2020-2024 SAINT LUCIA NATIONAL TRADE STRATEGY: 2020–2024 This National Export Strategy was developed following the process, methodology and technical assistance of the International Trade Centre (ITC) within the framework of its Trade Development Strategy programme. ITC is the joint agency of the World Trade Organization and the United Nations. As part of the ITC mandate of fostering sustainable development through increased trade opportunities, the Export Strategy section offers a suite of trade-related strategy solutions to maximize the development payoffs from trade. ITC-facilitated trade development strategies and roadmaps are oriented to the trade objectives of a country or region and can be tailored to high-level economic goals, specific development targets or particular sectors, allowing policymakers to choose their preferred level of engagement. The views expressed herein do not reflect the official opinion of ITC. Mention of enterprises, products and product brands does not imply the endorsement of ITC. This document has not been formally edited by ITC. The International Trade Centre (ITC) Street address: ITC, 54-56, rue de Montbrillant, 1202 Geneva, Switzerland Postal address: ITC Palais des Nations 1211 Geneva, Switzerland Telephone: + 41- 22 730 0111 Email: [email protected]: http://www.intracen.org ACKNOWLEDGMENTS AND DISCLAIMER The National Export Strategy (NES) of Saint Lucia was developed under the aegis of the Government of Saint Lucia and in particular under the leadership, financial support and technical assistance of International Trade Centre (ITC), CARICOM Development Fund (CDF) and Export Saint Lucia. The document benefited particularly from the inputs and guidance provided by the members of the ITC team and Saint Lucia’s core committee that steered the formulation of the NES.
    [Show full text]
  • Towards the Development of a Coastal Zone Management Strategy
    Towards the Development of a Coastal Zone Management Strategy and Action Plan for Saint Lucia LaVerne A. Walker TABLE OF CONTENTS TABLE OF CONTENTS.................................................................................................... ii ACKNOWLEDGEMENTS...............................................................................................iii DISCLAIMER ................................................................................................................... iv ACRONYMS...................................................................................................................... v INTRODUCTION .............................................................................................................. 1 DOCUMENT OUTLINE................................................................................................ 1 SAINT LUCIA OVERVIEW ......................................................................................... 1 PART 1 – FROM NORTH WEST COAST CONSERVATION MANAGEMENT PROJECT TO THE CZM STRATEGIC AND ACTION PLAN PLANNING PROCESS5 1.0 INTRODUCTION .............................................................................................. 5 1.1 TOWARDS THE DEVELOPMENT OF A COASTAL ZONE MANAGEMENT POLICY ............................................................................................ 7 1.2 COASTAL ZONE MANAGMENT STRATEGIC AND ACTION PLAN PLANNING PROCESS................................................................................................ 11 PART II- DRAFT COASTAL
    [Show full text]
  • Saint Lucia Tourism Satellite Account Documentation 1
    Saint Lucia Tourism Satellite Account Documentation 1. Background From 2016 – 2020 the Statistics Canada Project for the Regional Advancement of Statistics in the Caribbean (PRASC) has collaborated with the Caribbean Regional Technical Assistance Centre (CARTAC) and the National Statistics Office of Saint Lucia (NSO) to produce a fully balanced 2016 reference year Supply and Use table for the economy of Saint Lucia. This project incorporates the full suite of data available including updated and revised import and export data, the 2016 Household Expenditure Survey that has been quality adjusted for prices and own account production, corporate T2 data, National Insurance Scheme data along with a significant number of other data sources to produce a high quality Supply and Use table. This Supply and Use table was created to incorporate these data and was created by CARTAC to be reproducible by the NSO. Statistics Canada provided a template that incorporated the data in an internationally accepted framework. This output was used to rebase the Gross Domestic Products tables of Saint Lucia to a new level that was based in an internationally recognised benchmark. This will allow Saint Lucia GDP numbers to be compared internationally with other countries GDP estimates complying with SNA 2008 standards. An extension of this would be to produce a Tourism Satellite Account that will identify the impact of tourism on the Saint Lucia economy. The Tourism Satellite Account follows a set of internationally recognised guidelines that identify products that are related to tourism. Using source data from Saint Lucia, and guidelines from the Canadian Tourism Satellite Account a series of ‘tourist ratios’ were identified for products within the Saint Lucia 2016 SUT.
    [Show full text]