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

More documents

Recommendations

Info

Vincent & the Grenadines: Selected social developmentindicatorsMRY(2000–07)Middleincomeaverage,2006Population (thousands, 2006) 120 32,183Population below poverty line(%)Poverty headcount ratio at $1per day (PPP, % of population)nanananaLife expectancy at birth, 2005 72 70Literacy rate, total (%) na 90Population with access toimproved sanitation facilities(%)na 62Population with access toimproved water source (%)96 83Sources: 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.St. Vincent and the Grenadines, an archipelago of 32 islands and keys, is classified by the World Bank asan upper-middle-income economy. Services, primarily tourism, are the leading economic activity in St.Vincent and the Grenadines. Following the economic downturn that adversely affected tourism in theCaribbean region after the September 11, 2001 terrorist attacks, economic activity in St. Vincent and theGrenadines rebounded in 2004 as a result of a revival of tourism, and has continued through 2007 at asomewhat slower rate. Unlike neighboring Grenada, there was limited damage in St. Vincent and theGrenadines from the September 2004 landfall of Hurricane Ivan. Grenada’s increased demand for importsof food, construction materials, and transport services boosted economic activity in St. Vincent and theGrenadines. Recent economic activity has accelerated as strong performance in the construction and tourismsectors has counterbalanced a contraction in agricultural production and slow growth in manufacturing.Recent economic growth was also boosted as a result of infrastructure construction in St. Vincent and theGrenadines, which was one of the venues for the March–April 2007 Cricket World Cup.With a per capita GDP of $7,007 in 2006, St. Vincent and the Grenadines ranks as the poorest country in theOrganization of Eastern Caribbean States. Two 2005 World Bank reports cited poverty rates between 33 and38 percent. Overall unemployment was estimated at 20 percent, with youth unemployment at almost 40percent. St. Vincent and the Grenadines’ social indicators are comparable with the middle-income averages.St. Vincent and the Grenadines ranked 92nd out of 177 countries on the United Nations 2007–08 human2development index, placing it in the “medium human development” category of countries.2See app. D for a definition of the human development index.4-124
Domestic EconomySt. Vincent & the Grenadines: Selected domestic economyindicatorsMRY(2000–07)Middleincomeaverage,2006Inflation (%, 2005) 4 4.3Labor force participation rate, total(%, 2006)Gross fixed capital formation (%of GDP)Agricultural land (% of land area,2003)Irrigated land (% of cropland,2003)73 7339 2541 3573 18Fixed line and mobile phonesubscribers (per 1,000 people,2005)Number of ports and terminals,2007782 5871 naPaved roads (% of total, 2006) 70 naCategory 1 and 2 airports, 2007 0 naSource: WTO, TPR, Report by the Secretariat. See appendixD for sources and definitions. Data for most recent yearavailable from source.Note: GDP composition based on 2001 data. Labor force databased on 1991 data. Labor force composition based on 1980data.Sources: 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.”St. Vincent and the Grenadines is primarily a tourism-based economy. Services currently account for morethan 80 percent of the GDP of St. Vincent and the Grenadines. Tourism (including tourism-related activities)is by far the leading component of the services sector, and its contribution to the economy of St. Vincent andthe Grenadines continues to increase. In 2001, tourism displaced banana exports as the foreign exchangeearningactivity in St. Vincent and the Grenadines. The tourism sector of St. Vincent and the Grenadinescaters to both cruise ship arrivals and yachting visitors. Development of major tourist resorts and the2004–05 filming of the motion picture Pirates of the Caribbean: The Curse of the Black Pearl on locationin St. Vincent were the sources of a significant economic upturn in 2004. Offshore services are a small butincreasingly visible component of the economy. St. Vincent and the Grenadines are home to an increasingnumber of registered international business corporations, international trusts, and offshore banks and inrecent years has adopted international regulatory standards to become a more attractive offshore financialcenter.Agriculture accounted for about 8 percent of GDP in 2001. The role of agricultural production, particularlybanana exports, has declined significantly in recent years. Bananas have long been the largest export cropof St. Vincent and the Grenadines, but banana exports to the EU market have been declining under the termsof EU market access. Banana production in St. Vincent and the Grenadines also has declined as a result oflabor shortages, because of low agricultural-sector wages (relative to wages paid in the tourism sector), badweather, and lower output that is reportedly due to the reduced use of fertilizer and pesticides required by4-125
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 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
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 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

Create successful ePaper yourself

Delete template?

Save as template?