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Persbericht

VIEWS: 11 PAGES: 4

									Voor meer informatie: Centraal Bureau voor de Statistiek
Fort Amsterdam z/n Tel: 461 1031 Fax: 461 1696 E-mail: info@cbs.an www.cbs.an

PERSBERICHT
Willemstad, 13 may 2004
First results of Economic Indicator Analysis - 2003

Real Gross Domestic Product for St. Maarten increased by 4.3 percent.
Real Gross Domestic Product (real GDP) in St. Maarten has increased at an annual rate of 4.3 percent in 2003 compared to the year 2002. Real GDP or real economic development (growth) is equal to the change in the production of goods and services excluding price developments. The change in the production of several industries, which is used as an indicator for the change in value added, is then grouped together to arrive at an estimate of the weighted average of real GDP. Last year the data was based on available production or volume indicators of six (6) industries. This year the data is expanded with data from two (2) industries namely the “health and social work” and with “other community, social & personal service activities and private households with employed persons”. As such 80 percent of the economic activities in St. Maarten are included in the Partial Economic Activity Index (PEAI). As information for the other industries becomes available they will be added to the PEAI.

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The Industries included in the PEAI (80% of total GDP) are (See table 1):  Utilities (E; 3.0%)  Trade (G; 25.9%)  Hotels, restaurants and café’s (H; 10.3%)  Transport, storage and communication (I; 13.7%)  Financial intermediation (J; 6.1%)  Public administration (L; 10.7%)  Health and Social Work (N; 2.1%)  Other community, social & personal service activities and Private Household’s with Employed Persons (OP; 8.6%) For these industries the following changes in the value added have effect for 2003: Utilities (water and electricity) have increased with about 21 percent in 2003 as opposed to the drop of almost 10 percent in 2002. Trade, which includes wholesale and retail, has remained more or less the same. In the Hotel, Restaurant & Cafe services the value added have increased with more than 4 percent in 2003 compared to a growth of 2 percent the year before. Transport, Storage & Communication experienced a growth of more than 4 percent in 2003 compared to a drop of almost 3 percent registered in 2002. The financial intermediation industry shows a continued growth of around 4 percent compared to 2002, which shows an increase of approximately 2 percent. In 2003 Public Administration has increased by roughly 4 percent. In 2002 this industry has shown a growth of about 3 percent. The Health and Social Work activities have been added to the partial economic activities and it shows a decrease in value added of 6 percent, about the same in 2002. In the other community, social & personal service activities and Private Household’s with Employed Persons shows an increase in value added of 14 percent in 2003 compared to an increase of almost 17 percent in the previous year.

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ISIC

Table 1: Percentage changes in GDP Industry Percentage changes in comparison to the year before 2002* 2003* . . 21 .

ABC D E F

Production of goods Agriculture, Fishery and Mining Manufacturing Utilities: Electricity and Water Construction Commercial services Trade: Wholesale and Retail Hotels, Restaurant’s & Café’s (Horeca) Transport, Storage & Communication Financial intermediation Real Estate, Renting, Business activities and private education

. . -9 .

G H I J KM

4 2 -3 2 .

0 4 4 4 .

Non-commercial services L Public Administration 3 6 N Health and Social Work -6 -6 OP Other community, social & personal service activities and Private Households w/Employed Persons 17 14 Interest Margin 2 4 Real GDP 3.4 4.3 *Note: All values are estimated, and will be revised when the final data becomes available. . = not available

Graph 1

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GDP Developments in St. Maarten
5.0

Percentages

4.0 3.0 2.0 1.0 0.0 2002 2003

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