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EMBARGOED UNTIL RELEASE AT 4:30 P.M. EST, TUESDAY, FEBRUARY 16, 2021 Technical: Media: Christina Hovland (BEA) Jeannine Aversa (BEA) Tanya Harris Joshua (OIA) (301) 278-9076 (301) 278-9003 (202) 208-6008 BEA 21-05 territories@bea.gov Jeannine.Aversa@bea.gov Tanya_Joshua@ios.doi.gov Gross Domestic Product for Guam, 2019 Today, the Bureau of Economic Analysis (BEA) is releasing estimates of gross domestic product (GDP) for Guam for 2019, in addition to estimates of GDP by industry and compensation by industry for 2018.1 These estimates were developed under the Statistical Improvement Program funded by the Office of Insular Affairs (OIA) of the U.S. Department of the Interior. Gross Domestic Product for 2019 The estimates of GDP for Guam show that real GDP—GDP adjusted to remove price changes—increased 2.0 percent in 2019. Chart 1. Contributions to Percent Change in Real GDP for 2019 Percentage points 4.5 3.0 2.92 2.0% 1.79 1.13 1.5 1.64 0.0 -0.53 -1.5 -3.0 -4.5 -4.95 -6.0 GDP PCE Private fixed Federal Territorial investment government government spending spending Exports Imports Note: Imports are a subtraction item. Thus, an increase in imports results in a negative contribution to GDP. U.S. Bureau of Economic Analysis As shown in Chart 1, the increase in real GDP reflected increases in exports, private fixed investment, federal government spending, and consumer spending. These increases were partly offset by an 1 These estimates are based on limited source data and are subject to revision. increase in imports, which are a subtraction in the calculation of GDP, and a decline in territorial government spending. Exports of services, which consists primarily of spending by tourists, increased 15.6 percent (see Table 1.3). This reflected a record high in visitor arrivals for the year and growth in average spending by Korean and Japanese tourists, who make up much of Guam’s tourist market. Overall, investment spending contributed positively to the economy. Spending on construction and equipment for defense and private projects increased but was partly offset by declines in territorial government investment spending. Private fixed investment grew 8.9 percent; business spending on construction increased following project delays in 2017 and 2018. Consumer spending also increased; the eighth increase in the last 9 years. Spending increased on both goods and services, largely reflecting growth in retail trade activity and health care services, respectively (see Table 1.4).2 Gross Domestic Product by Industry and Compensation by Industry for 2018 The estimates of GDP by industry show that the government sector was the source of the decline in real GDP in 2018 (see Table 2.4). Federal and territorial government decreased, reflecting declines in employment and hours paid. The private sector expanded in 2018, partly offsetting the decrease in the government sector. The largest contributor to private sector growth was construction, reflecting growth in private sector work on defense projects.3 The compensation by industry estimates, which are measured in current dollars, show trends in compensation for major industries (see Table 2.6). Total compensation increased in 2018, primarily reflecting growth in the private sector. Within the private sector, the largest contributors were construction and “other private.”4 The accompanying tables present estimates for GDP and its major components, GDP by industry, and compensation by industry. Also included in this release are estimates for the major components of gross domestic income. Revisions to GDP and Related Estimates This release also includes the results of a comprehensive update of the territorial economic accounts. Comprehensive updates are typically performed every 5 years, based on the Census Bureau’s every-5years economic censuses of island areas. With the comprehensive update, estimates for 2002 to 2018 have been revised to incorporate improvements to source data and methods, including information from: 2 Health care services include those directly financed by government social benefits such as Medicaid. Construction activities performed by private companies on behalf of the government sector are reflected within private sector industry value added. 4 “Other private” includes all private sector industries not separately shown in Table 2.6, such as professional, scientific, and technical services and health care services. 3 -2- • The U.S. Census Bureau’s 2017 Economic Census of Island Areas (ECIA), which provides the most thorough and detailed statistics on the structure of the Guam economy, • County Business Patterns data for 2017 and 2018 from the U.S. Census Bureau, • Hospital cost reports data from the Centers for Medicare and Medicaid Services (CMS), • BEA’s U.S. national income and product accounts, and • Guam government data sources, such as building permit data and newly available fiscal year 2019 audited government financial statements. Chart 2 shows that the new estimates exhibit a pattern of inflation-adjusted GDP growth similar to the previously published estimates. However, there are notable revisions within the components of GDP, including to consumer spending and private fixed investment. Chart 2. Percent Change from Preceding Year in Real GDP 8.0 6.0 4.0 2.0 0.0 -2.0 -4.0 '03 '04 '05 '06 '07 '08 '09 '10 '11 Previously published '12 '13 '14 '15 '16 '17 '18 Revised U.S. Bureau of Economic Analysis The revisions to consumer spending primarily reflect the incorporation of an improved estimation method for health care services for all years. Previously, estimates for health care services provided to households, including by hospitals, were benchmarked every 5 years to ECIA data on total revenues. Now, services provided by the government hospital are estimated for all years using annual data on net patient revenues from financial statements. For 2015 forward, CMS cost report data on net patient revenues of private sector hospitals are used for the first time.5 The cost report data replaced estimates of private sector services that had been extrapolated based on payroll data. The effect of the updated estimation method on the growth of GDP was largest for 2015 forward, as the newly incorporated CMS data showed a different pattern of growth than payroll data. 5 Guam’s first private sector hospital opened in July 2015. Revenues for the first half-year of operation were prorated based on 2016 data from CMS. -3- Estimates of private fixed investment were also revised, primarily reflecting the incorporation of more detailed building permit data into the annual indicators for construction activity for 2013 forward.6 The reference year for inflation-adjusted measures has been updated to 2012. This is the same reference year used in BEA’s national GDP estimates. The estimates of GDP by industry and compensation by industry have been updated to incorporate the above data sources. Future Directions OIA and BEA will work to extend and improve the estimates of GDP for Guam. The information provided by the Guam government will continue to be critical to the successful production of these estimates. BEA plans to release GDP estimates for 2020 for Guam in the fall of 2021. GDP by industry and compensation by industry estimates for 2019 will be released at the same time. 6 The estimates of private fixed investment are benchmarked to capital expenditures information from the 2012 ECIA. -4- Additional Information Guam expenditures that is accounted for by goods and services provided by the rest of the world. Resources • • • • • Stay informed about BEA developments by reading the BEA blog, signing up for BEA’s email subscription service, or following BEA on Twitter @BEA_News. Historical time series for these estimates can be accessed at BEA’s Gross Domestic Product (GDP) for the U.S. Territories. Access BEA data by registering for BEA’s Data Application Programming Interface (API). For more on BEA’s statistics, see our monthly online journal, the Survey of Current Business. BEA's news release schedule Government consumption expenditures and gross investment, or “government spending,” measures the portion of GDP that is accounted for by the government sector. Government consumption expenditures consists of spending by government to produce and provide services to the public. Gross investment consists of spending by government for fixed assets that directly benefit the public or that assist government agencies in their production activities. Gross domestic income (GDI) is the sum of incomes earned and costs incurred in the production of GDP. In national economic accounting, GDP and GDI are conceptually equal. Definitions Current-dollar estimates are valued in the prices of the period when the transactions occurred—that is, at “market value.” Also referred to as “nominal estimates” or as “current-price estimates.” Gross domestic product (GDP) is the value of the goods and services produced by the Guam economy less the value of the goods and services used up in production. GDP is also equal to the sum of personal consumption expenditures, private fixed investment, change in private inventories, net exports of goods and services, and government consumption expenditures and gross investment. Real values are inflation-adjusted estimates—that is, estimates that exclude the effects of price changes. Statistical Conventions Personal consumption expenditures (PCE), also referred to as “consumer spending,” measures the goods and services purchased by “persons”—that is, by households and by nonprofit institutions serving households (NPISHs)—who are resident in Guam. Quantities and prices. Quantities, or “real” volume measures, and prices are expressed as index numbers with a specified reference year equal to 100 (currently 2012). Quantity and price indexes are calculated using a Fisher chain-weighted formula that incorporates weights from two adjacent years. “Real” dollar series are calculated by multiplying the quantity index by the current-dollar value in the reference year (2012) and then dividing by 100. Private fixed investment (PFI) measures spending by private businesses, nonprofit institutions, and households on fixed assets in the Guam economy. Fixed assets consist of structures, equipment, and software that are used in the production of goods and services. Chained-dollar values are not additive because the relative weights for a given period differ from those of the reference year. Net exports of goods and services is the difference between exports of goods and services and imports of goods and services. Exports measures the portion of total Guam production of goods and services that is provided to the rest of the world. Imports measures the portion of total -5- List of News Release Tables Table 1.1. Table 1.2. Table 1.3. Table 1.4. Table 1.5. Table 1.6. Table 1.7. Table 2.1. Table 2.2. Table 2.3. Table 2.4. Table 2.5. Table 2.6. Gross Domestic Product Real Gross Domestic Product, Chained Dollars Percent Change From Preceding Year in Real Gross Domestic Product Contributions to Percent Change in Real Gross Domestic Product Percent Change From Preceding Year in Prices for Gross Domestic Product and Price Indexes for Gross Domestic Product Gross Domestic Income Revisions to Percent Change in Real Gross Domestic Product Value Added by Industry Value Added by Industry as a Percentage of GDP Real Value Added by Industry Percent Changes in Real Value Added by Industry Contributions to Percent Change in Real Gross Domestic Product by Industry Compensation of Employees by Industry -6- Guam 1. Domestic Product and Income Table 1.1. Gross Domestic Product [Millions of dollars] Line Gross domestic product 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 1 3,394 3,569 3,869 4,213 4,238 4,397 4,658 4,828 4,949 4,984 5,265 5,399 5,610 5,799 5,901 6,013 6,051 6,311 Personal consumption expenditures Goods Durable goods Nondurable goods Services Net foreign travel 2 3 4 5 6 7 2,222 1,103 404 699 1,763 -644 2,110 1,070 398 673 1,594 -554 2,242 1,222 436 786 1,791 -770 2,434 1,401 506 895 1,915 -882 2,459 1,402 506 896 1,978 -921 2,549 1,414 518 897 2,020 -885 2,779 1,512 542 970 2,102 -835 2,847 1,448 520 928 2,134 -735 2,860 1,462 523 939 2,167 -768 2,950 1,564 564 1,001 2,175 -790 3,206 1,765 635 1,130 2,332 -891 3,218 1,706 616 1,090 2,383 -870 3,260 1,711 598 1,113 2,489 -940 3,287 1,655 588 1,067 2,601 -969 3,384 1,693 611 1,083 2,726 -1,035 3,549 1,759 647 1,112 2,821 -1,031 3,605 1,799 641 1,159 2,880 -1,075 3,704 1,914 677 1,236 3,068 -1,277 Private fixed investment 8 473 646 636 585 686 921 1,057 1,081 1,057 1,027 1,044 1,233 1,355 1,256 1,205 1,141 1,223 1,355 Net exports of goods and services Exports Goods Services Imports Goods Services 9 10 11 12 13 14 15 -895 722 74 647 1,616 1,362 255 -1,024 631 73 557 1,654 1,320 334 -939 846 72 775 1,785 1,445 340 -886 956 70 886 1,843 1,529 314 -1,074 1,005 80 926 2,079 1,732 347 -1,483 1,005 115 890 2,489 2,018 470 -1,700 973 133 840 2,673 2,115 558 -1,801 838 98 740 2,639 2,051 588 -1,873 846 73 773 2,719 2,098 621 -2,022 928 133 795 2,949 2,289 661 -2,033 1,004 107 896 3,037 2,395 642 -2,189 1,053 177 875 3,241 2,522 719 -2,282 1,057 112 945 3,339 2,559 780 -2,041 1,048 73 974 3,089 2,318 770 -1,917 1,119 78 1,040 3,036 2,272 764 -1,883 1,141 105 1,036 3,024 2,316 709 -2,091 1,165 83 1,082 3,256 2,479 777 -2,192 1,375 92 1,284 3,567 2,691 876 Government consumption expenditures and gross investment Federal Territorial 16 17 18 1,594 909 686 1,836 1,124 712 1,929 1,209 721 2,080 1,286 794 2,166 1,318 849 2,411 1,500 911 2,521 1,608 913 2,701 1,751 950 2,905 1,865 1,039 3,028 1,907 1,121 3,048 1,911 1,138 3,137 1,907 1,230 3,276 1,980 1,296 3,297 2,027 1,270 3,229 2,009 1,220 3,205 1,903 1,302 3,314 1,985 1,329 3,443 2,130 1,313 NOTE. Detail may not add to total because of rounding. -7- Guam Table 1.2. Real Gross Domestic Product, Chained Dollars [Millions of chained (2012) dollars] Line Gross domestic product 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 1 4,549 4,589 4,887 5,065 4,880 4,915 5,015 5,037 5,151 5,155 5,265 5,354 5,450 5,495 5,505 5,554 5,504 5,613 Personal consumption expenditures Goods Durable goods Nondurable goods Services Net foreign travel 2 3 4 5 6 7 2,972 1,542 470 1,085 2,389 -953 2,760 1,420 446 981 2,140 -787 2,893 1,540 494 1,052 2,382 -1,023 3,025 1,655 548 1,110 2,456 -1,082 2,937 1,582 545 1,038 2,418 -1,057 2,957 1,578 557 1,020 2,377 -994 3,046 1,591 541 1,051 2,355 -900 3,072 1,516 524 993 2,338 -780 3,047 1,546 533 1,014 2,310 -809 3,090 1,623 579 1,044 2,279 -812 3,206 1,765 635 1,130 2,332 -891 3,227 1,725 632 1,092 2,383 -880 3,240 1,719 624 1,096 2,460 -940 3,301 1,696 632 1,065 2,563 -961 3,351 1,739 647 1,093 2,641 -1,032 3,441 1,773 660 1,114 2,687 -1,022 3,419 1,779 660 1,119 2,685 -1,047 3,484 1,893 713 1,182 2,800 -1,212 Private fixed investment 8 567 765 730 641 722 947 1,068 1,112 1,093 1,044 1,044 1,225 1,331 1,230 1,181 1,095 1,144 1,245 Net exports of goods and services Exports Goods Services Imports Goods Services 9 10 11 12 13 14 15 -1,198 1,077 119 958 2,274 1,908 370 -1,362 904 114 792 2,266 1,806 466 -1,170 1,137 107 1,029 2,306 1,869 444 -1,054 1,186 97 1,087 2,241 1,872 375 -1,228 1,167 103 1,062 2,395 2,022 381 -1,618 1,136 138 999 2,754 2,263 497 -1,762 1,046 143 905 2,808 2,237 573 -1,999 897 113 785 2,896 2,285 612 -2,007 896 81 814 2,903 2,255 649 -2,050 954 136 817 3,004 2,328 676 -2,033 1,004 107 896 3,037 2,395 642 -2,186 1,065 180 886 3,251 2,543 707 -2,263 1,061 114 946 3,323 2,574 748 -2,158 1,044 76 966 3,202 2,473 727 -2,068 1,122 84 1,037 3,190 2,480 711 -1,958 1,140 112 1,028 3,098 2,470 638 -2,043 1,143 88 1,054 3,186 2,520 673 -2,166 1,316 96 1,218 3,482 2,759 732 Government consumption expenditures and gross investment Federal Territorial 16 17 18 2,242 1,275 970 2,429 1,472 958 2,460 1,520 941 2,495 1,523 974 2,479 1,488 994 2,639 1,627 1,013 2,665 1,693 973 2,850 1,852 998 3,017 1,940 1,077 3,069 1,937 1,133 3,048 1,911 1,138 3,087 1,894 1,193 3,141 1,932 1,208 3,126 1,957 1,171 3,051 1,920 1,133 2,999 1,787 1,212 3,000 1,804 1,196 3,061 1,894 1,167 Addenda: Population (thousands)1 Per capita real GDP (chained dollars) 19 20 155.7 29,216 156.2 29,379 156.6 31,207 157.1 32,241 157.5 30,984 158.0 31,108 158.4 31,660 158.9 31,699 159.4 32,315 159.5 32,320 159.8 32,947 160.5 33,358 161.0 33,851 161.5 34,025 162.0 33,981 162.5 34,178 162.9 33,788 163.2 34,393 1. Source: U.S. Census Bureau -8- Guam Table 1.3. Percent Change From Preceding Year in Real Gross Domestic Product [Percent] Line Gross domestic product 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 1 0.9 6.5 3.6 -3.7 0.7 2.0 0.4 2.3 0.1 2.1 1.7 1.8 0.8 0.2 0.9 -0.9 2.0 Personal consumption expenditures Goods Durable goods Nondurable goods Services Net foreign travel 2 3 4 5 6 7 -7.1 -7.9 -5.1 -9.6 -10.4 …….. 4.8 8.5 10.8 7.2 11.3 …….. 4.6 7.4 10.8 5.6 3.1 …….. -2.9 -4.4 -0.5 -6.5 -1.5 …….. 0.7 -0.3 2.2 -1.7 -1.7 …….. 3.0 0.9 -2.8 3.0 -0.9 …….. 0.9 -4.8 -3.3 -5.6 -0.7 …….. -0.8 2.0 1.7 2.2 -1.2 …….. 1.4 5.0 8.8 3.0 -1.4 …….. 3.8 8.7 9.7 8.2 2.3 …….. 0.7 -2.3 -0.5 -3.3 2.2 …….. 0.4 -0.3 -1.4 0.3 3.2 …….. 1.9 -1.4 1.4 -2.8 4.2 …….. 1.5 2.6 2.4 2.7 3.0 …….. 2.7 1.9 1.9 1.9 1.8 …….. -0.6 0.3 0.1 0.4 -0.1 …….. 1.9 6.5 8.1 5.6 4.3 …….. Private fixed investment 8 34.9 -4.5 -12.3 12.6 31.2 12.8 4.1 -1.7 -4.4 0.0 17.3 8.7 -7.6 -4.0 -7.3 4.5 8.9 Net exports of goods and services Exports Goods Services Imports Goods Services 9 10 11 12 13 14 15 …….. -16.0 -4.2 -17.4 -0.4 -5.4 26.1 …….. 25.7 -6.7 29.9 1.8 3.5 -4.8 …….. 4.4 -9.2 5.6 -2.9 0.2 -15.4 …….. -1.6 6.2 -2.3 6.9 8.0 1.6 …….. -2.7 34.6 -5.9 15.0 11.9 30.4 …….. -7.9 3.1 -9.4 2.0 -1.1 15.3 …….. -14.2 -20.8 -13.3 3.1 2.2 6.8 …….. -0.1 -28.2 3.7 0.3 -1.3 5.9 …….. 6.5 68.1 0.4 3.4 3.3 4.1 …….. 5.2 -21.3 9.6 1.1 2.9 -5.0 …….. 6.1 67.2 -1.2 7.0 6.2 10.1 …….. -0.4 -36.3 6.8 2.2 1.2 5.8 …….. -1.6 -33.3 2.1 -3.6 -3.9 -2.8 …….. 7.5 9.9 7.3 -0.4 0.3 -2.2 …….. 1.5 34.1 -0.9 -2.9 -0.4 -10.3 …….. 0.3 -22.0 2.6 2.8 2.0 5.5 …….. 15.1 9.1 15.6 9.3 9.5 8.8 Government consumption expenditures and gross investment Federal Territorial 16 17 18 8.3 15.5 -1.2 1.3 3.3 -1.8 1.4 0.2 3.5 -0.6 -2.3 2.1 6.4 9.4 1.9 1.0 4.0 -3.9 6.9 9.4 2.6 5.9 4.7 7.9 1.7 -0.2 5.1 -0.7 -1.3 0.5 1.3 -0.9 4.9 1.7 2.0 1.3 -0.5 1.3 -3.1 -2.4 -1.9 -3.2 -1.7 -6.9 7.0 0.0 1.0 -1.3 2.0 5.0 -2.4 -9- Guam Table 1.4. Contributions to Percent Change in Real Gross Domestic Product Line Percent change: Gross domestic product Percentage points: Personal consumption expenditures Goods Durable goods Nondurable goods Services Net foreign travel 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 1 0.9 6.5 3.6 -3.7 0.7 2.0 0.4 2.3 0.1 2.1 1.7 1.8 0.8 0.2 0.9 -0.9 2.0 2 3 4 5 6 7 -4.63 -2.60 -0.60 -2.00 -5.33 3.30 2.84 2.60 1.19 1.41 5.02 -4.77 2.64 2.37 1.22 1.15 1.44 -1.16 -1.68 -1.47 -0.06 -1.41 -0.70 0.49 0.41 -0.09 0.26 -0.35 -0.79 1.29 1.75 0.28 -0.34 0.62 -0.43 1.90 0.51 -1.53 -0.37 -1.15 -0.34 2.37 -0.49 0.59 0.18 0.41 -0.52 -0.56 0.82 1.49 0.92 0.57 -0.60 -0.07 2.25 2.75 1.09 1.65 1.03 -1.53 0.40 -0.76 -0.05 -0.71 0.96 0.20 0.23 -0.09 -0.15 0.06 1.42 -1.10 1.08 -0.41 0.14 -0.55 1.85 -0.36 0.86 0.73 0.24 0.49 1.35 -1.22 1.54 0.56 0.20 0.36 0.82 0.16 -0.38 0.09 0.01 0.08 -0.05 -0.42 1.13 1.90 0.83 1.06 2.04 -2.80 Private fixed investment 8 4.79 -0.83 -2.01 1.75 5.04 2.65 0.91 -0.39 -0.95 -0.01 3.43 1.97 -1.80 -0.86 -1.50 0.86 1.79 Net exports of goods and services Exports Goods Services Imports Goods Services 9 10 11 12 13 14 15 -3.23 -3.41 -0.09 -3.32 0.18 2.14 -1.96 3.80 4.65 -0.14 4.79 -0.85 -1.32 0.46 2.30 0.97 -0.17 1.15 1.32 -0.06 1.38 -3.40 -0.38 0.10 -0.48 -3.03 -2.91 -0.12 -8.04 -0.63 0.66 -1.29 -7.41 -4.90 -2.50 -2.93 -1.81 0.09 -1.90 -1.11 0.52 -1.63 -4.67 -2.93 -0.56 -2.37 -1.74 -0.94 -0.80 -0.16 -0.02 -0.58 0.56 -0.14 0.58 -0.72 -0.82 1.12 1.05 0.07 -1.93 -1.41 -0.52 0.32 0.97 -0.57 1.53 -0.65 -1.30 0.65 -2.89 1.15 1.35 -0.20 -4.04 -2.80 -1.24 -1.41 -0.08 -1.18 1.10 -1.33 -0.56 -0.77 1.81 -0.29 -0.65 0.36 2.10 1.71 0.39 1.54 1.34 0.12 1.22 0.20 -0.10 0.30 1.79 0.29 0.45 -0.16 1.50 0.15 1.34 -1.40 0.06 -0.38 0.44 -1.45 -0.80 -0.66 -2.04 2.92 0.12 2.79 -4.95 -3.82 -1.13 Government consumption expenditures and gross investment Federal Territorial 16 17 18 3.95 4.20 -0.25 0.68 1.04 -0.36 0.71 0.06 0.65 -0.32 -0.71 0.39 3.31 2.93 0.39 0.55 1.37 -0.81 3.70 3.20 0.50 3.30 1.73 1.57 1.02 -0.07 1.09 -0.41 -0.51 0.10 0.74 -0.32 1.06 1.01 0.72 0.29 -0.27 0.44 -0.71 -1.35 -0.65 -0.70 -0.94 -2.37 1.43 0.02 0.31 -0.29 1.11 1.64 -0.53 - 10 - Guam Table 1.5. Percent Change From Preceding Year in Prices for Gross Domestic Product and Price Indexes for Gross Domestic Product Line Gross domestic product Personal consumption expenditures Gross domestic product Personal consumption expenditures 2002 2003 2004 2005 2006 2007 2008 1 …….. 4.2 1.8 5.1 4.4 3.0 3.8 2 …….. 2.3 1.4 3.8 4.0 3.0 5.9 3 74.6 77.8 79.2 83.2 86.9 89.5 4 74.8 76.5 77.5 80.5 83.7 86.2 2009 3.2 2010 2011 [Percent] 0.2 0.6 2012 2013 2014 2015 2016 2017 2018 2019 3.4 0.8 2.1 2.5 1.6 1.0 1.5 2.3 -0.3 0.9 -1.0 1.4 2.1 2.2 0.8 92.9 1.6 1.3 1.7 4.7 [Index numbers, 2012=100] 95.8 96.1 96.7 100.0 100.8 102.9 105.5 107.2 108.3 109.9 112.4 91.2 92.7 99.7 100.6 99.6 101.0 103.2 105.4 106.3 93.9 95.5 100.0 Table 1.6. Gross Domestic Income [Millions of dollars] Line Gross domestic income 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 1 3,394 3,569 3,869 4,213 4,238 4,397 4,658 4,828 4,949 4,984 5,265 5,399 5,610 5,799 5,901 6,013 6,051 6,311 Compensation of employees 2 1,905 2,095 2,134 2,216 2,283 2,412 2,542 2,668 2,811 2,863 2,909 2,970 3,098 3,239 3,264 3,335 3,379 3,514 Taxes on production and imports less subsidies 3 199 240 261 253 263 289 300 296 320 336 355 365 391 393 408 421 468 518 Gross operating surplus 4 1,290 1,234 1,474 1,744 1,692 1,696 1,816 1,864 1,818 1,785 2,001 2,064 2,121 2,167 2,229 2,257 2,204 2,279 NOTE. Detail may not add to total because of rounding. Table 1.7. Revisions to Percent Change in Real Gross Domestic Product Line 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Percent change: Revised Previously published 1 2 0.9 0.9 6.5 6.4 3.6 3.5 -3.7 -3.8 0.7 0.8 2.0 1.7 0.4 0.3 2.3 2.1 0.1 0.1 2.1 2.0 1.7 1.8 1.8 1.7 0.8 0.5 0.2 0.3 0.9 0.2 -0.9 -0.3 Percentage points: Revision 3 0.0 0.1 0.1 0.1 -0.1 0.3 0.1 0.2 0.0 0.1 -0.1 0.1 0.3 -0.1 0.7 -0.6 - 11 - Guam 2. GDP by Industry Table 2.1. Value Added by Industry [Millions of dollars] Line Gross domestic product 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 1 3,394 3,569 3,869 4,213 4,238 4,397 4,658 4,828 4,949 4,984 5,265 5,399 5,610 5,799 5,901 6,013 6,051 Private industries Construction Wholesale and retail trade1 Accommodations, food services, and amusements 2 Other private 2 3 4 2,117 137 368 2,180 238 413 2,416 202 449 2,648 168 470 2,606 190 455 2,665 291 436 2,852 343 469 2,905 360 464 2,918 394 495 2,891 367 513 3,169 398 551 3,247 443 537 3,371 465 552 3,465 420 587 3,586 376 607 3,709 388 624 3,742 413 625 5 6 384 1,228 356 1,173 408 1,357 411 1,599 409 1,552 406 1,532 422 1,618 429 1,652 452 1,576 462 1,548 487 1,733 532 1,735 612 1,742 651 1,807 708 1,895 736 1,962 759 1,946 Government Federal Territorial 7 8 9 1,277 650 627 1,389 749 640 1,453 806 647 1,565 910 655 1,632 954 678 1,732 1,018 713 1,806 1,082 724 1,923 1,171 752 2,031 1,229 802 2,093 1,266 828 2,096 1,263 833 2,152 1,267 884 2,239 1,291 948 2,334 1,331 1,003 2,315 1,295 1,020 2,303 1,288 1,016 2,309 1,302 1,007 1. Previously labeled "distributive services." 2. Previously labeled "accommodations and amusement." Includes arts, entertainment, and recreation (NAICS 71) and accommodations and food services (NAICS 72). NOTE. Detail may not add to total because of rounding. Table 2.2. Value Added by Industry as a Percentage of GDP [Percent] Line Gross domestic product 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 1 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 Private industries Construction Wholesale and retail trade1 Accommodations, food services, and amusements 2 Other private 2 3 4 62 4 11 61 7 12 62 5 12 63 4 11 61 4 11 61 7 10 61 7 10 60 7 10 59 8 10 58 7 10 60 8 10 60 8 10 60 8 10 60 7 10 61 6 10 62 6 10 62 7 10 5 6 11 36 10 33 11 35 10 38 10 37 9 35 9 35 9 34 9 32 9 31 9 33 10 32 11 31 11 31 12 32 12 33 13 32 Government Federal Territorial 7 8 9 38 19 18 39 21 18 38 21 17 37 22 16 39 23 16 39 23 16 39 23 16 40 24 16 41 25 16 42 25 17 40 24 16 40 23 16 40 23 17 40 23 17 39 22 17 38 21 17 38 22 17 1. Previously labeled "distributive services." 2. Previously labeled "accommodations and amusement." Includes arts, entertainment, and recreation (NAICS 71) and accommodations and food services (NAICS 72). - 12 - Guam Table 2.3. Real Value Added by Industry [Millions of chained (2012) dollars] Line Gross domestic product 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 1 4,549 4,589 4,887 5,065 4,880 4,915 5,015 5,037 5,151 5,155 5,265 5,354 5,450 5,495 5,505 5,554 5,504 Private industries Construction Wholesale and retail trade1 Accommodations, food services, and amusements 2 Other private 2 3 4 2,758 200 446 2,772 340 501 3,045 277 545 3,189 206 549 3,010 212 518 3,010 309 499 3,080 366 534 3,025 366 493 3,068 409 519 3,040 376 526 3,169 398 551 3,233 432 528 3,314 442 538 3,331 393 557 3,383 346 579 3,442 344 599 3,454 350 598 5 6 434 1,687 405 1,544 475 1,757 463 1,986 441 1,851 433 1,775 441 1,744 425 1,745 455 1,687 473 1,665 487 1,733 534 1,739 591 1,743 615 1,766 657 1,802 675 1,826 677 1,830 Government Federal Territorial 7 8 9 1,793 926 871 1,820 978 846 1,843 1,010 837 1,876 1,074 804 1,870 1,075 797 1,905 1,103 803 1,935 1,143 792 2,012 1,237 775 2,083 1,269 814 2,114 1,281 832 2,096 1,263 833 2,121 1,267 853 2,137 1,271 865 2,164 1,288 875 2,123 1,242 878 2,114 1,220 890 2,053 1,197 853 1. Previously labeled "distributive services." 2. Previously labeled "accommodations and amusement." Includes arts, entertainment, and recreation (NAICS 71) and accommodations and food services (NAICS 72). Table 2.4. Percent Changes in Real Value Added by Industry [Percent] Line Gross domestic product 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 1 0.9 6.5 3.6 -3.7 0.7 2.0 0.4 2.3 0.1 2.1 1.7 1.8 0.8 0.2 0.9 -0.9 Private industries Construction Wholesale and retail trade1 Accommodations, food services, and amusements 2 Other private 2 3 4 0.5 69.9 12.4 9.8 -18.4 8.8 4.8 -25.8 0.7 -5.6 2.9 -5.5 0.0 45.9 -3.7 2.3 18.4 7.0 -1.8 0.0 -7.7 1.4 11.6 5.3 -0.9 -8.0 1.4 4.2 5.9 4.8 2.0 8.7 -4.2 2.5 2.1 2.0 0.5 -11.0 3.5 1.6 -11.9 4.0 1.7 -0.6 3.4 0.3 1.8 -0.2 5 6 -6.6 -8.5 17.3 13.8 -2.5 13.0 -4.8 -6.8 -1.9 -4.1 1.9 -1.8 -3.6 0.1 7.1 -3.4 4.1 -1.3 2.9 4.1 9.7 0.3 10.6 0.2 4.2 1.3 6.8 2.1 2.7 1.3 0.4 0.2 Government Federal Territorial 7 8 9 1.5 5.6 -2.8 1.3 3.3 -1.1 1.8 6.3 -3.9 -0.3 0.1 -0.9 1.9 2.6 0.8 1.6 3.6 -1.4 4.0 8.2 -2.1 3.5 2.6 5.0 1.5 1.0 2.2 -0.8 -1.4 0.1 1.2 0.3 2.4 0.8 0.3 1.4 1.3 1.3 1.2 -1.9 -3.5 0.3 -0.4 -1.8 1.3 -2.9 -1.9 -4.1 1. Previously labeled "distributive services." 2. Previously labeled "accommodations and amusement." Includes arts, entertainment, and recreation (NAICS 71) and accommodations and food services (NAICS 72). - 13 - Guam Table 2.5. Contributions to Percent Change in Real Gross Domestic Product by Industry Line Percent change: Gross domestic product Percentage points: Private industries Construction Wholesale and retail trade1 Accommodations, food services, and amusements 2 Other private Government Federal Territorial 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 1 0.9 6.5 3.6 -3.7 0.7 2.0 0.4 2.3 0.1 2.1 1.7 1.8 0.8 0.2 0.9 -0.9 2 3 4 0.32 2.80 1.31 5.99 -1.24 1.00 2.96 -1.39 0.08 -3.54 0.12 -0.61 0.00 2.08 -0.39 1.42 1.19 0.68 -1.08 0.00 -0.79 0.84 0.85 0.51 -0.54 -0.64 0.15 2.48 0.43 0.49 1.22 0.66 -0.44 1.50 0.17 0.19 0.31 -0.91 0.35 0.94 -0.87 0.40 1.06 -0.04 0.35 0.21 0.12 -0.02 5 6 -0.73 -3.06 1.69 4.54 -0.26 4.55 -0.47 -2.58 -0.18 -1.51 0.17 -0.63 -0.33 0.04 0.62 -1.14 0.37 -0.41 0.26 1.30 0.89 0.11 1.06 0.07 0.45 0.42 0.76 0.65 0.32 0.42 0.05 0.07 7 8 9 0.57 1.09 -0.52 0.50 0.71 -0.20 0.67 1.32 -0.65 -0.12 0.02 -0.14 0.73 0.60 0.13 0.61 0.84 -0.22 1.53 1.87 -0.33 1.42 0.63 0.78 0.61 0.25 0.36 -0.34 -0.35 0.01 0.46 0.07 0.39 0.31 0.08 0.23 0.50 0.30 0.21 -0.75 -0.81 0.06 -0.17 -0.40 0.23 -1.11 -0.40 -0.71 1. Previously labeled "distributive services." 2. Previously labeled "accommodations and amusement." Includes arts, entertainment, and recreation (NAICS 71) and accommodations and food services (NAICS 72). NOTE. Percentage-point contributions do not sum to the percent change in real gross domestic product because of rounding and differences in source data used to estimate GDP by industry and the expenditures measure of real GDP. Table 2.6. Compensation of Employees by Industry [Millions of dollars] Line Total compensation 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 1 1,905 2,095 2,134 2,216 2,283 2,412 2,542 2,668 2,811 2,863 2,909 2,970 3,098 3,239 3,264 3,335 3,379 Private industries Construction Wholesale and retail trade1 Accommodations, food services, and amusements 2 Other private 2 3 4 931 60 197 1,030 112 227 1,054 109 241 1,068 96 242 1,101 110 247 1,173 135 245 1,242 155 260 1,288 171 255 1,344 192 270 1,340 183 278 1,391 186 298 1,420 213 294 1,494 227 307 1,573 213 330 1,639 193 350 1,722 193 367 1,755 208 367 5 6 207 466 187 504 209 494 201 529 202 542 203 590 212 614 217 644 227 655 231 649 243 664 260 653 278 681 306 724 328 767 339 823 344 836 Government Federal Territorial 7 8 9 974 471 503 1,065 555 511 1,081 573 507 1,148 622 526 1,183 629 554 1,239 657 582 1,301 706 594 1,381 760 621 1,467 814 653 1,523 847 676 1,518 843 675 1,550 844 706 1,604 866 738 1,666 902 764 1,625 864 760 1,613 857 755 1,624 874 750 1. Previously labeled "distributive services." 2. Previously labeled "accommodations and amusement." Includes arts, entertainment, and recreation (NAICS 71) and accommodations and food services (NAICS 72). NOTE. Detail may not add to total because of rounding. - 14 -
@FedFRASER