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

More documents

Recommendations

Info

Jamaica: Selected social development indicatorsMRY(2000–07)Middleincomeaverage,2006Population (millions, 2007) 2.8 32.2Population below poverty line(%, 2003) 15 naPoverty headcount ratio at $1per day (PPP, % of population,2004)2 naLife expectancy at birth, 2005 71 70Literacy rate, total (%, 2003) 88 90Population with access toimproved sanitation facilities(%, 2004)Population with access toimproved water source (%,2004)80 6293 83Source: World Development Indicators; CIA World Factbook.See appendix D for sources and definitions.Note: MRY=most recent year for which data are available; na= “not available.”Source: World Development Indicators. See appendix D forsources and definitions.Note: MIA = Middle income average for 2005.Classified by the World Bank as a lower-middle-income economy, Jamaica is a small, open economy basedon tourism, mining and agricultural exports, and remittances from expatriates. Despite its significant naturalresource endowment, Jamaica’s economic performance has been subject to periodic downturns as a resultof hurricanes. Hurricane Ivan caused extensive damage to the island in September 2004, requiring substantialgovernment spending to repair. With the recovery from Hurricane Ivan still ongoing, Hurricane Dean hit theisland in August 2007, again causing extensive damage to Jamaica’s social and economic infrastructure.Unlike other countries that were venues for the March–April 2007 Cricket World Cup, Jamaica did notexperience as large a growth benefit from the matches given the economic impact of the event relative toJamaica’s economic size. One key challenge facing the government of Jamaica is the country’s large debt-to-GDP ratio, currently in excess of 130 percent, which is a significant constraint on the Jamaican government’sability to channel funds into social and physical infrastructure.Jamaica’s social indicators are comparable to or slightly lower than those of other countries in the region.Jamaica ranked 101st out of 177 countries on the United Nations 2007–08 human development index, 2placing it in the “medium human development” category of countries. In its national educational plan for the2005–06 academic year, Jamaica focused on improving the quality and access of the country’s educationaland training system. Almost 15 percent of the population is below the poverty line, almost one-half of thepoor are children under 18, and approximately 10 percent are elderly. In addition, the mortality rate forchildren under five years has barely fallen since 1990. Public health also is a concern, particularly the highHIV/AIDS infection rate. Unemployment has declined from 15 percent to about 11 percent, but remains highand contributes to high levels of violent crime that adversely affect Jamaica’s business climate.2See app. D for a definition of the human development index.4-78
Hurricane Dean caused significant damage to Jamaica’s social infrastructure. More than 500 schools andpublic educational institutions sustained damage valued at an estimated $10 million. Losses to Jamaica’shealth sector totaled an estimated $4 million, with structural damage to a number of critical facilities.Jamaica’s road infrastructure was estimated to have sustained damage which would cost $15 million torepair. Jamaica has secured World Bank loans to repair this damage.The Jamaican government has identified accelerating GDP growth (0.9 percent average annual rate for1996–2006) as its main economic policy goal. The Jamaican government has targeted a reduction in thepublic debt burden as important to redirect public expenditure from debt service to social and infrastructureinvestment. Central government spending has declined in recent years as a result of the government’s tightfiscal policy, thereby restricting funds available for new development-oriented projects. The Jamaicangovernment has made greater use of public-private partnerships for infrastructure development. In addition,the PetroCaribe development fund established under an oil-financing arrangement signed with Venezuelain 2005 also has provided investment capital for Jamaica.Domestic EconomyJamaica: Selected domestic economy indicatorsMRY(2000–07)Middleincomeaverage,2006Inflation (%, 2006) 9 4.3Labor force participation rate, total(%, 2006)Gross fixed capital formation (%of GDP, 2006)Agricultural land (% of land area,2004)Irrigated land (% of cropland,2002)Fixed line and mobile phonesubscribers (per 1,000 people,2005)Number of ports and terminals,200768 7330 2547 359 181,146 5875 naSource: CIA World Factbook. See appendix D for sources anddefinitions. Data for most recent year available from source.Paved roads (% of total, 2004) 73 naCategory 1 and 2 airports, 2007 2 naNote: GDP composition based on 2006 data. Labor force databased on 2006 data; labor force composition data based on2006 data.Source: World Development Indicators; CIA World Factbook.See appendix D for sources and definitions.Note: MRY=most recent year for which data are available; na= “not available.”The total value of damage and losses incurred from Hurricane Dean in August 2007 is estimated at $22.9billion, with $11.6 billion of losses to the country’s economically productive sector. Damage and lossesincluded reduced agricultural and fishing sector output, lost production time as a result of electrical outagesand water pipeline disruptions, and severe port damage.4-79
Page 7 and 8:
TABLE OF CONTENTSPagePreface ......
Page 9 and 10:
TABLE OF CONTENTS-ContinuedChapter
Page 13 and 14:
List of Frequently Used Abbreviatio
Page 15:
PPPPRGFSDRSMESPSTASCTEUTIEATIFATRQU
Page 18 and 19:
the Netherlands Antilles, accounted
Page 20 and 21:
most influence investment in the re
Page 22 and 23:
Expanding to Higher-Skill-Intensive
Page 24 and 25:
Focusing on Unique Strategic Advant
Page 26 and 27:
U.S.A.CubaBahamasMap of the Caribbe
Page 28:
Table 1.1 Summary of CBERA preferen
Page 33 and 34:
13under the same rules of origin ap
Page 36 and 37:
training, orientation visits, and b
Page 38 and 39:
domestic population growth pressure
Page 40 and 41:
Figure 2.2 GDP, most recent year, 2
Page 42 and 43:
Figure 2.3 GDP per capita, PPP, mos
Page 44 and 45:
Table 2.1 Selected CBERA countries:
Page 46 and 47:
Box 2.1 Mobile Telephone Industry i
Page 48 and 49:
Table 2.4 Goods and services trade
Page 50 and 51:
Table 2.6 U.S. merchandise imports
Page 52 and 53:
aTable 2.7 Leading U.S. merchandise
Page 54 and 55:
aTable 2.9 Leading U.S. merchandise
Page 56 and 57:
Extent of Utilization of CBERA Pref
Page 58 and 59:
Table 2.12 U.S. imports of apparel
Page 60 and 61:
important trend in the region is th
Page 62 and 63:
GDP in CBERA countries. When the tw
Page 64 and 65:
percent of GDP; this low figure con
Page 66 and 67:
firms from scrutiny, non-transparen
Page 68 and 69:
and Trinidad and Tobago (the only c
Page 70 and 71:
Table 2.17 World Bank IBRD and IDA
Page 72 and 73:
Table 2.19 Caribbean Development Ba
Page 74 and 75:
Table 2.20 Membership of covered CB
Page 76 and 77:
changes specifically in U.S. policy
Page 78 and 79:
Using country-level data, researche
Page 80 and 81:
Reinhardt. 24 The authors find that
Page 82 and 83:
CBTPA programs. Table 3.1 presents
Page 84 and 85:
exports fluctuated within a range o
Page 86 and 87:
promising for all countries covered
Page 88 and 89:
infrastructure, macroeconomic stabi
Page 90 and 91:
exporters have also been affected b
Page 92 and 93:
Policies identified in the literatu
Page 94 and 95:
outside of the domestic market.”
Page 96 and 97:
infrastructure, the 2005 World Bank
Page 98 and 99:
companies.” 99 The islands provid
Page 100 and 101:
government, provide another opportu
Page 102 and 103:
(CDS), was established in 1983 to p
Page 104 and 105:
Policies identified in the literatu
Page 106 and 107:
that, in the early 1990s, Caribbean
Page 108 and 109:
policies discussed in earlier secti
Page 110 and 111:
Caribbean government officials. 159
Page 112 and 113:
These experiences suggest that supp
Page 114 and 115:
which can generate more internation
Page 116 and 117:
Dean, Judith M., and John Wainio.
Page 118 and 119:
Josling, Tim. “Trade Policy in Sm
Page 120 and 121:
———. Textiles and Apparel: Ef
Page 123 and 124:
CHAPTER 4Current Level of Caribbean
Page 125 and 126:
ANTIGUA & BARBUDAEconomic and Socia
Page 127 and 128:
has been an employer of last resort
Page 129 and 130:
International Integration 4Sources:
Page 131:
improve its overall financial posit
Page 134 and 135:
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 and 186: income average. The government has
Page 187 and 188: International Integration 3Sources:
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: Economic and Social Development 1JA
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
Page 236 and 237: U.S. Department of State. “Backgr
Page 238 and 239: St. Lucia: Selected social developm
Page 240 and 241: St. Lucia’s main service industri
Page 242 and 243: St. Lucia: Selected international i
Page 244 and 245: ———. St. Lucia: 2005 Article
Page 246 and 247: Vincent & the Grenadines: Selected
Page 248 and 249: 3the islands’ adherence to the
Page 250 and 251:
Total goods and services trade was
Page 253 and 254:
TRINIDAD & TOBAGOEconomic and Socia
Page 255 and 256:
development” category. Since 1990
Page 257 and 258:
International Integration 5Sources:
Page 259 and 260:
Trinidad and Tobago has consistentl
Page 261:
Ethanol Producer Magazine. “Ethan
Page 264 and 265:
He said that, in mid-2005, St. Kitt
Page 266 and 267:
projects are set to come online in
Page 268 and 269:
Government of Jamaica 10In testimon
Page 270 and 271:
mentioned that promoting health tou
Page 272 and 273:
economies have become increasingly
Page 274 and 275:
Caribbean-Central American Action (
Page 276:
and that CBERA benefits are limited
Page 279 and 280:
She added that “a failure to full
Page 281:
APPENDIX ARequest Letter from Commi
Page 284 and 285:
11/07/2UU'113: 45 P'Ua uu3The Honor
Page 286 and 287:
I I / V I / L U U I 15;40 P M......
Page 289 and 290:
71432 Federal Register / Vol. 72, N
Page 291:
71434 Federal Register / Vol. 72, N
Page 295 and 296:
CALENDAR OF PUBLIC HEARINGThose lis
Page 297 and 298:
ORGANIZATION AND WITNESS:Halcrow, I
Page 299:
APPENDIX DCountry Profiles Tables a
Page 302 and 303:
Table D.1 Country Profiles Tables a
Page 304 and 305:
Table D.1-ContinuedTable or figuren
Page 306 and 307:
Page 308 and 309:
Page 310 and 311:
Page 313:
APPENDIX EMerchandise Trade Tables
Page 316 and 317:
Table E.2 Leading U.S. imports unde
Page 319:
APPENDIX FDevelopment Tables
Page 322 and 323:
Table F.2 Selected examples of rece
Page 324:
Table F.2-ContinuedCountryPanama-Co
show all

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

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?