Caribbean Region: Review of Economic Growth and ... - USITC

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driven by the temporary increase in tourism receipts associated with the Cricket World Cup. According toa USAID report, the services sector has experienced an increasing trend since 1995. Almost one-half of theservices sector in 2005 consisted of government-related services, which have expanded significantly since1990. The emigration of educated Guyanese is an impediment to the expansion of nongovernment servicesindustries.Guyana’s main agricultural (including fisheries) products include sugarcane, rice, shrimp, fish, vegetableoils, beef, pork, poultry, and dairy products. The sugar industry is facing challenges stemming frompreference erosion as a result of reforms in the pricing structure governing the EU sugar regime. The fisheriesindustry has expanded in part due to an increase in shrimp exports. Shrimp is exported primarily to theUnited States, but a January 2004 certification allowing exports to the EU could potentially increase exportsto the EU.Guyana is endowed with abundant natural resources, including fertile soils, tropical lowland forests withhigh-value timber and water resources, and almost untapped hydroelectric power and ecotourism potential.Guyana’s natural resources include high-grade bauxite, gold, diamonds, hardwood timber, shrimp, and fish.In addition, a U.S. Geological Survey report suggests that there may be large offshore oil and natural gasreserves, but maritime border disputes with Suriname and Venezuela have hampered exploratory drillingactivities.Guyana’s main industrial sector production activities include bauxite (box 4.1), sugar, rice milling, timber,textiles, and gold mining. Attempts to develop higher value-added wood processing have not provensuccessful, and timber exports remain primarily unprocessed logs. The mining sector contracted in 2005,because of the closure of a major gold mine (Omai) and reduced bauxite production. As a result, most goldproduction is done by small and medium-scale producers. Recent record gold prices have renewed interestin the industry. The manufacturing sector’s contribution to GDP has declined over the past decade. Agroprocessing(rice milling, sugar processing, rum distilling, wood products, and vegetable oil processing)represents much of the manufacturing activities. Apparel production has almost ceased as a result ofincreased Chinese and Central American competition.Major impediments to economic growth include a shortage of skilled labor and inadequate infrastructure.For example, an IMF working paper noted that the road network is underdeveloped, electricity costs areamong the highest in the region, water services are considered insufficient and expensive; althoughtelecommunications services are better developed, they remain very expensive. The lack of deep-sea portfacilities and limited air transportation routes hamper expansion and diversification of the economy. Forexample, the lack of a deepwater port raises transport costs for bauxite exports. The completion of the firststage of an upgrade of the Ogle Airport in early 2007 is expected to improve air transport availability. Thegovernment has increased efforts to improve the country’s infrastructure. For example, it has increasedspending on road improvements and rehabilitated aging infrastructure.4-64
International Integration 3Sources: WITS; DataWeb. See appendix D for sources and definitions.Note: Values are based on Guyana’s data, and represent gross figures.Source: World Development Indicators. See appendix D forsources and definitions.Source: World Development Indicators. See appendix D forsources and definitions.3See chap. 2 regional overview for country membership in international and regional institutions.4-65
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TABLE OF CONTENTSPagePreface ......
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TABLE OF CONTENTS-ContinuedChapter
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List of Frequently Used Abbreviatio
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PPPPRGFSDRSMESPSTASCTEUTIEATIFATRQU
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the Netherlands Antilles, accounted
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most influence investment in the re
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Expanding to Higher-Skill-Intensive
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Focusing on Unique Strategic Advant
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U.S.A.CubaBahamasMap of the Caribbe
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Table 1.1 Summary of CBERA preferen
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13under the same rules of origin ap
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training, orientation visits, and b
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domestic population growth pressure
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Figure 2.2 GDP, most recent year, 2
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Figure 2.3 GDP per capita, PPP, mos
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Table 2.1 Selected CBERA countries:
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Box 2.1 Mobile Telephone Industry i
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Table 2.4 Goods and services trade
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Table 2.6 U.S. merchandise imports
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aTable 2.7 Leading U.S. merchandise
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aTable 2.9 Leading U.S. merchandise
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Extent of Utilization of CBERA Pref
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Table 2.12 U.S. imports of apparel
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important trend in the region is th
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GDP in CBERA countries. When the tw
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percent of GDP; this low figure con
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firms from scrutiny, non-transparen
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and Trinidad and Tobago (the only c
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Table 2.17 World Bank IBRD and IDA
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Table 2.19 Caribbean Development Ba
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Table 2.20 Membership of covered CB
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changes specifically in U.S. policy
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Using country-level data, researche
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Reinhardt. 24 The authors find that
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CBTPA programs. Table 3.1 presents
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exports fluctuated within a range o
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promising for all countries covered
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infrastructure, macroeconomic stabi
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exporters have also been affected b
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Policies identified in the literatu
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outside of the domestic market.”
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infrastructure, the 2005 World Bank
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companies.” 99 The islands provid
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government, provide another opportu
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(CDS), was established in 1983 to p
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Policies identified in the literatu
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that, in the early 1990s, Caribbean
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policies discussed in earlier secti
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Caribbean government officials. 159
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These experiences suggest that supp
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which can generate more internation
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Dean, Judith M., and John Wainio.
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Josling, Tim. “Trade Policy in Sm
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———. Textiles and Apparel: Ef
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CHAPTER 4Current Level of Caribbean
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ANTIGUA & BARBUDAEconomic and Socia
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has been an employer of last resort
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International Integration 4Sources:
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improve its overall financial posit
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Aruba: Selected social development
Page 136 and 137: elated services, such as conference
Page 138 and 139: SourcesCaribbean-Central American A
Page 140 and 141: The Bahamas: Selected social develo
Page 142 and 143: In addition to its beaches that cou
Page 144 and 145: investment in the services sector,
Page 146 and 147: Barbados: Selected social developme
Page 148 and 149: The main agricultural products are
Page 150 and 151: $418 million. The main products imp
Page 152 and 153: Belize: Selected social development
Page 154 and 155: and is one of the fastest-growing i
Page 156 and 157: Belize: Selected international inte
Page 159 and 160: BRITISH VIRGIN ISLANDSEconomic and
Page 161 and 162: Domestic EconomyBritish Virgin Isla
Page 163 and 164: Data are unavailablefrom sourceData
Page 165: USITC. DataWeb (data compiled from
Page 168 and 169: Dominica: Selected social developme
Page 170 and 171: mainland or Europe, impede developm
Page 172 and 173: Dominica: Selected international in
Page 175 and 176: Economic and Social Development 1GR
Page 177: Grenada’s ongoing poverty eradica
Page 180 and 181: As Grenada’s economy has become i
Page 183 and 184: Economic and Social Development 1GU
Page 185: income average. The government has
Page 189 and 190: Box 4.1 Bauxite Industry in Guyana:
Page 191 and 192: Economic and Social Development 1HA
Page 193 and 194: poor nutrition and inadequate acces
Page 195 and 196: International Integration 3Sources:
Page 197 and 198: Box 4.2 Apparel Industry in Haiti:
Page 199 and 200: Economic and Social Development 1JA
Page 201 and 202: Hurricane Dean caused significant d
Page 203 and 204: Source: World Development Indicator
Page 205 and 206: Box 4.4 Film Production Outsourcing
Page 207 and 208: MONTSERRATEconomic and Social Devel
Page 209 and 210: constraint to the country’s futur
Page 211 and 212: International Integration 2Source:
Page 213: CIA. “The World Factbook: Montser
Page 216 and 217: Netherlands Antilles: Selected soci
Page 218 and 219: services industry is an important s
Page 220 and 221: Netherlands is a major source of FD
Page 222 and 223: Panama: Selected social development
Page 224 and 225: The services sector contributes mor
Page 226 and 227: Panama: Selected international inte
Page 228 and 229: SourcesCaribbean-Central American A
Page 230 and 231: St. Kitts & Nevis: Selected social
Page 232 and 233: government closed the state-run sug
Page 234 and 235: St. Kitts & Nevis: Selected interna
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U.S. Department of State. “Backgr
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St. Lucia: Selected social developm
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St. Lucia’s main service industri
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St. Lucia: Selected international i
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———. St. Lucia: 2005 Article
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Vincent & the Grenadines: Selected
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3the islands’ adherence to the
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Total goods and services trade was
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TRINIDAD & TOBAGOEconomic and Socia
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development” category. Since 1990
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International Integration 5Sources:
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Trinidad and Tobago has consistentl
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Ethanol Producer Magazine. “Ethan
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He said that, in mid-2005, St. Kitt
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projects are set to come online in
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Government of Jamaica 10In testimon
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mentioned that promoting health tou
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economies have become increasingly
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Caribbean-Central American Action (
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and that CBERA benefits are limited
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She added that “a failure to full
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APPENDIX ARequest Letter from Commi
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11/07/2UU'113: 45 P'Ua uu3The Honor
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I I / V I / L U U I 15;40 P M......
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71432 Federal Register / Vol. 72, N
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71434 Federal Register / Vol. 72, N
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CALENDAR OF PUBLIC HEARINGThose lis
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ORGANIZATION AND WITNESS:Halcrow, I
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APPENDIX DCountry Profiles Tables a
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Table D.1 Country Profiles Tables a
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Table D.1-ContinuedTable or figuren
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APPENDIX EMerchandise Trade Tables
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Table E.2 Leading U.S. imports unde
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APPENDIX FDevelopment Tables
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Table F.2 Selected examples of rece
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Table F.2-ContinuedCountryPanama-Co
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