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EMBARGOED UNTIL RELEASE AT 10:00 a.m. EDT, Monday, June 17, 2024 Technical: Media: Christina Hovland (BEA) Connie O’Connell (BEA) Melissa Braybrooks (OIA) 301-278-9076 301-278-9003 202-336-2651 BEA 24–24 Territories@bea.gov Connie.OConnell@bea.gov Melissa_Braybrooks@ios.doi.gov Gross Domestic Product for the U.S. Virgin Islands, 2022 Gross Domestic Product by Industry and Compensation by Industry, 2021 Real gross domestic product (GDP) for the U.S. Virgin Islands (USVI) decreased 1.3 percent in 2022 after increasing 3.7 percent in 2021 (table 1.3), according to statistics released today by the U.S. Bureau of Economic Analysis (BEA). These statistics were developed under the Statistical Improvement Program funded by the Office of Insular Affairs of the U.S. Department of the Interior. GDP for 2022 The decrease in real GDP reflected declines in exports, private fixed investment, government spending, and personal consumption expenditures that were partly offset by an increase in inventory investment (chart 1). Imports, a subtraction item in the calculation of GDP, decreased. Page 1 of 5 Exports of goods and services decreased 18.9 percent (table 1.3), reflecting a decrease in exports of goods that was partly offset by an increase in exports of services. The decline in exports of goods primarily reflected decreases in exports of crude oil and petroleum products. The increase in exports of services primarily reflected growth in spending by visitors. Total visitor arrivals increased 69.7 percent in 2022 according to information published by the USVI government. Private fixed investment decreased 18.6 percent (table 1.3), reflecting declines in spending on equipment and structures. Investment spending continued to decline after being elevated in prior years to support capital improvement projects including the restart of the oil refinery on St. Croix. Government spending decreased 4.4 percent (table 1.3), reflecting declines in territorial and federal government spending. Territorial government spending decreased 2.6 percent, reflecting a decline in construction activity. Federal government spending continued to decline in 2022 after being elevated in prior years to support reconstruction activities following the 2017 hurricanes. Personal consumption expenditures (PCE) decreased 1.0 percent (table 1.3), reflecting an increase in consumer prices (table 1.5) that outpaced the increase in current-dollar PCE (table 1.1). Private inventory investment increased reflecting a smaller decline in private inventories (table 1.2), due to a smaller drawdown in crude oil and petroleum product inventories compared to 2021. GDP by industry and compensation by industry for 2021 In 2021, real GDP increased 3.7 percent. The newly available GDP by industry data, which are released on a 1-year lag, reveal that the private sector was the source of growth in real GDP in 2021 (table 2.5). The increase in the private sector reflected growth in services-producing industries that was partly offset by a decline in goods-producing industries. Services-producing industries increased 10.9 percent (table 2.4). The largest source of growth within services-producing industries was accommodation and food services, reflecting an increase in visitor spending. Goods-producing industries decreased 13.8 percent, reflecting a decline in construction activity. The government sector decreased 5.4 percent (table 2.4), primarily reflecting operating losses of government utilities and a decrease in territorial government employment. Total compensation decreased from $2,546 million in 2020 to $2,306 million in 2021 (table 2.6). The $240 million decrease reflected a decrease in private-sector compensation. The largest contributor to the decrease was goods-producing industries. Page 2 of 5 Updates to USVI GDP and Its Components Estimates for 2018–2021 that were released on May 22, 2023, have been revised to incorporate updates to source data including the following: • • • Newly available draft and audited financial statements for the Government of the USVI and its independent agencies Updated consumer price indexes for 2020 and 2021 from the Virgin Islands Bureau of Economic Research Revised data on shipments from the joint U.S. Census Bureau and BEA “International Trade in Goods and Services” (FT900) report The revised estimates exhibit a pattern of inflation-adjusted GDP growth similar to the previously published estimates (table 1.7). Due to lags in the availability of data for various components of GDP, the statistics presented today for 2022 are preliminary estimates. As of April 2024, most of the USVI government's fiscal year 2022 audited financial statements were unavailable. In place of these financial statements, BEA used information from a variety of alternate data sources including USVI government budget documents, unaudited financial statements, reports on federal grant expenditures and disaster recovery progress, hospital cost reports from the Centers for Medicare & Medicaid Services, and the USVI government's Open Finance database, which includes checkbook-level spending by the primary government. For more information on the data sources underlying these estimates, see Summary of Methodologies: Gross Domestic Product for American Samoa, the Commonwealth of the Northern Mariana Islands, Guam, and the U.S. Virgin Islands. GDP Statistics for the USVI Paused The annual publication of BEA’s GDP statistics for the USVI is made possible through funding by the Office of Insular Affairs (OIA) of the U.S. Department of the Interior. OIA has paused funding of this work to conduct an exploratory assessment of territorial source data with the goal of informing how to strategically invest in and support the USVI's economic statistics into the future. Without funding, BEA is pausing the production of GDP statistics for the USVI. When funding and improved data sources become available, BEA plans to resume production of these statistics. Archived GDP statistics for the USVI will continue to be available on BEA’s website. Page 3 of 5 Additional Information Resources • • • • Stay informed about BEA developments by reading The BEA Wire, signing up for BEA’s email subscription service, or following @BEA_News on X, formerly known as Twitter. Historical time series for gross domestic product for the U.S. territories can be accessed on BEA’s website. For more on BEA statistics, see our online journal, the Survey of Current Business. For upcoming economic indicators, see BEA’s news release schedule. Definitions Gross domestic product (GDP) is the value of the goods and services produced by the U.S. Virgin Islands (USVI) 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. Personal consumption expenditures measures the goods and services purchased by “persons”—that is, by households and by nonprofit institutions serving households—who are resident in the USVI. Private fixed investment measures spending by private businesses, nonprofit institutions, and households on structures and equipment that are used in the production of goods and services in the USVI. Change in private inventories, or “private inventory investment,” is a measure of the value of the change in the physical volume of the inventories—additions less withdrawals—that businesses maintain to support their production and distribution activities. 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 USVI production of goods and services that is provided to the rest of the world. Imports measures the portion of total USVI expenditures that is accounted for by goods and services provided by the rest of the world. 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. 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 “currentprice estimates”). Real values are inflation-adjusted estimates—that is, estimates that exclude the effects of price changes. Statistical conventions 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 and then dividing by 100. Chained-dollar values are not additive, because the relative weights for a given period differ from those of the reference year. Page 4 of 5 News release tables Table 1.1. Gross Domestic Product Table 1.2. Real Gross Domestic Product Table 1.3. Percent Change From Preceding Year in Real Gross Domestic Product Table 1.4. Contributions to Percent Change in Real Gross Domestic Product Table 1.5. Percent Change From Preceding Year in Prices for Gross Domestic Product and Price Indexes for Gross Domestic Product Table 1.6. Gross Domestic Income Table 1.7. Revisions to Percent Change in Real Gross Domestic Product Table 2.1. Value Added by Industry Table 2.2. Value Added by Industry as a Percentage of Gross Domestic Product Table 2.3. Real Value Added by Industry Table 2.4. Percent Changes in Real Value Added by Industry Table 2.5. Contributions to Percent Change in Real Gross Domestic Product by Industry Table 2.6. Compensation of Employees by Industry Page 5 of 5 U.S. Virgin Islands June 17, 2024 Table 1.1. Gross Domestic Product [Millions of dollars] Line 1 Gross domestic product 2 Personal consumption expenditures 3 Goods 4 Durable goods 5 Nondurable goods 6 Foods, feeds, and beverages 7 Other nondurable goods 8 Services 9 Housing and utilities 10 Health care 11 Food services and accommodations 12 Other services 13 Net foreign travel 14 Private fixed investment 15 Change in private inventories 16 Net exports of goods and services 17 Exports 18 Goods 19 Services 20 Imports 21 Goods 22 Services Government consumption expenditures and 23 gross investment 24 Federal 25 Territorial r Revised p Preliminary Note. Detail may not add to total because of rounding. U.S. Bureau of Economic Analysis r r r r p 2012 4,089 2,528 1,206 666 540 322 219 2,402 745 288 568 801 -1,080 292 114 129 3,278 2,186 1,091 3,149 2,932 217 2013 3,738 2,515 1,195 723 472 319 153 2,437 789 292 577 780 -1,117 298 149 -267 2,525 1,395 1,130 2,792 2,570 222 2014 3,565 2,493 1,198 737 462 324 138 2,455 791 285 599 780 -1,160 300 -6 -269 2,794 1,623 1,171 3,063 2,843 220 2015 3,663 2,564 1,199 731 468 332 136 2,554 829 305 623 797 -1,188 286 -168 -54 1,525 329 1,196 1,580 1,367 213 2016 3,798 2,582 1,198 747 451 322 129 2,577 826 315 623 814 -1,193 274 625 -730 1,786 585 1,201 2,517 2,291 226 2017 3,794 2,578 1,087 607 479 327 153 2,468 829 293 566 780 -976 303 878 -1,178 2,403 1,418 985 3,580 3,268 313 2018 3,923 2,657 1,176 694 482 332 150 2,304 862 253 374 814 -823 480 1,168 -2,078 2,084 1,252 833 4,163 3,680 482 2019 4,121 2,853 1,287 795 492 361 131 2,598 872 295 533 898 -1,031 999 617 -1,875 2,265 1,226 1,039 4,140 3,650 490 2020 4,229 2,770 981 507 474 360 114 2,375 910 311 396 759 -586 746 807 -1,565 1,620 1,027 592 3,184 2,762 422 2021 4,507 2,952 1,178 572 606 430 176 2,894 967 337 774 816 -1,120 499 -484 12 4,069 2,944 1,125 4,057 3,688 369 2022 4,672 3,221 1,343 728 614 424 190 3,157 1,092 367 824 875 -1,279 448 -95 -509 4,549 3,257 1,292 5,058 4,697 360 1,026 161 865 1,043 159 884 1,048 141 907 1,035 150 884 1,048 147 901 1,212 208 1,004 1,696 238 1,457 1,527 188 1,339 1,469 231 1,239 1,528 225 1,303 1,606 204 1,402 U.S. Virgin Islands June 17, 2024 Table 1.2. Real Gross Domestic Product [Millions of chained (2012) dollars] Line 1 Gross domestic product 2 Personal consumption expenditures 3 Goods 4 Durable goods 5 Nondurable goods 6 Foods, feeds, and beverages 7 Other nondurable goods 8 Services 9 Housing and utilities 10 Health care 11 Food services and accommodations 12 Other services 13 Net foreign travel 14 Private fixed investment 15 Change in private inventories 16 Net exports of goods and services 17 Exports 18 Goods 19 Services 20 Imports 21 Goods 22 Services Government consumption expenditures and 23 gross investment 24 Federal 25 Territorial r Revised p Preliminary U.S. Bureau of Economic Analysis r r r r p 2012 4,089 2,528 1,206 666 540 322 219 2,402 745 288 568 801 -1,080 292 114 129 3,278 2,186 1,091 3,149 2,932 217 2013 3,832 2,454 1,194 724 470 309 160 2,367 744 289 565 769 -1,107 293 150 -89 2,741 1,608 1,119 2,830 2,611 219 2014 3,764 2,427 1,211 760 452 304 146 2,366 752 281 572 761 -1,151 289 -7 94 3,228 2,084 1,161 3,134 2,925 211 2015 3,748 2,479 1,229 770 460 299 161 2,421 770 299 579 773 -1,172 274 -313 159 2,063 614 1,180 1,903 1,686 202 2016 3,808 2,472 1,212 759 454 293 162 2,427 770 307 575 774 -1,168 261 1,342 -708 2,485 1,214 1,177 3,192 2,990 216 2017 3,780 2,417 1,075 611 464 285 186 2,287 758 282 511 735 -946 284 1,557 -921 3,133 2,597 955 4,054 3,780 287 2018 3,851 2,431 1,145 700 447 281 170 2,090 771 243 331 749 -793 437 1,737 -1,690 2,495 1,996 803 4,185 3,758 416 2019 3,963 2,580 1,240 801 445 292 153 2,325 774 281 457 814 -979 877 965 -1,438 2,785 2,070 988 4,223 3,817 399 2020 3,899 2,462 954 510 439 291 146 2,071 769 292 333 682 -552 639 1,605 -1,459 2,293 2,221 558 3,751 3,406 343 2021 4,042 2,490 1,075 554 513 325 193 2,397 765 307 618 704 -990 400 -585 759 4,464 4,505 995 3,705 3,444 281 2022 3,989 2,465 1,120 660 464 293 176 2,409 762 316 610 720 -1,074 325 -29 262 3,618 3,240 1,087 3,356 3,141 235 1,026 161 865 1,011 157 854 983 137 846 962 144 818 956 139 817 1,079 191 889 1,440 211 1,228 1,243 162 1,079 1,171 197 975 1,173 185 988 1,121 157 963 U.S. Virgin Islands June 17, 2024 Table 1.3. Percent Change From Preceding Year in Real Gross Domestic Product Line 1 Gross domestic product 2 Personal consumption expenditures 3 Goods 4 Durable goods 5 Nondurable goods 6 Foods, feeds, and beverages 7 Other nondurable goods 8 Services 9 Housing and utilities 10 Health care 11 Food services and accommodations 12 Other services 13 Net foreign travel 14 Private fixed investment 15 Change in private inventories 16 Net exports of goods and services 17 Exports 18 Goods 19 Services 20 Imports 21 Goods 22 Services Government consumption expenditures and 23 gross investment 24 Federal 25 Territorial r Revised p Preliminary U.S. Bureau of Economic Analysis r r r r p 2013 -6.3 -2.9 -1.0 8.8 -13.0 -4.0 -26.8 -1.4 -0.1 0.4 -0.7 -4.0 …….. 0.2 …….. …….. -16.4 -26.5 2.6 -10.1 -10.9 0.8 2014 -1.8 -1.1 1.4 4.9 -3.8 -1.5 -8.7 -0.1 1.0 -2.8 1.3 -1.1 …….. -1.3 …….. …….. 17.8 29.7 3.7 10.7 12.0 -3.7 2015 -0.4 2.1 1.5 1.4 1.6 -1.8 10.2 2.3 2.4 6.6 1.2 1.6 …….. -5.0 …….. …….. -36.1 -70.6 1.7 -39.3 -42.3 -3.9 2016 1.6 -0.3 -1.4 -1.4 -1.3 -1.9 0.3 0.2 0.0 2.7 -0.7 0.2 …….. -4.7 …….. …….. 20.5 97.9 -0.3 67.7 77.4 6.9 2017 -0.7 -2.2 -11.3 -19.6 2.3 -2.7 14.8 -5.8 -1.5 -8.1 -11.1 -5.1 …….. 8.7 …….. …….. 26.1 113.9 -18.8 27.0 26.4 32.9 2018 1.9 0.6 6.4 14.6 -3.7 -1.4 -8.3 -8.6 1.7 -14.0 -35.3 1.9 …….. 53.7 …….. …….. -20.3 -23.2 -16.0 3.2 -0.6 44.9 2019 2.9 6.1 8.3 14.5 -0.5 3.8 -10.3 11.2 0.4 15.8 38.4 8.7 …….. 100.8 …….. …….. 11.6 3.7 23.0 0.9 1.6 -4.1 2020 -1.6 -4.6 -23.1 -36.4 -1.3 -0.3 -4.2 -10.9 -0.7 3.7 -27.1 -16.2 …….. -27.1 …….. …….. -17.7 7.3 -43.5 -11.2 -10.8 -14.1 2021 3.7 1.1 12.7 8.8 16.7 11.6 32.0 15.7 -0.5 5.2 85.5 3.2 …….. -37.4 …….. …….. 94.7 102.9 78.2 -1.2 1.1 -18.2 2022 -1.3 -1.0 4.3 19.1 -9.4 -9.8 -8.7 0.5 -0.4 3.0 -1.3 2.3 …….. -18.6 …….. …….. -18.9 -28.1 9.3 -9.4 -8.8 -16.3 -1.4 -2.1 -1.3 -2.7 -13.1 -0.9 -2.2 5.1 -3.4 -0.6 -3.6 0.0 12.9 37.7 8.8 33.4 10.9 38.0 -13.6 -23.2 -12.1 -5.8 21.3 -9.6 0.2 -6.1 1.3 -4.4 -14.9 -2.6 U.S. Virgin Islands Line 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 June 17, 2024 Table 1.4. Contributions to Percent Change in Real Gross Domestic Product Percent change: Gross domestic product Percentage points: Personal consumption expenditures Goods Durable goods Nondurable goods Foods, feeds, and beverages Other nondurable goods Services Housing and utilities Health care Food services and accommodations Other services Net foreign travel Private fixed investment Change in private inventories Net exports of goods and services Exports Goods Services Imports Goods Services Government consumption expenditures and gross investment Federal Territorial r Revised p Preliminary U.S. Bureau of Economic Analysis 2013 2014 2015 2016 2017 2018 r 2019 r 2020 r 2021 r 2022 p -6.3 -1.8 -0.4 1.6 -0.7 1.9 2.9 -1.6 3.7 -1.3 -1.85 -0.30 1.44 -1.74 -0.32 -1.42 -0.87 -0.02 0.03 -0.09 -0.79 -0.68 0.02 0.89 -4.97 -12.77 -13.47 0.70 7.80 7.85 -0.05 -0.77 0.46 0.95 -0.49 -0.13 -0.36 -0.04 0.20 -0.22 0.20 -0.22 -1.19 -0.11 -3.89 3.78 11.84 10.72 1.13 -8.06 -8.28 0.22 1.50 0.49 0.29 0.21 -0.17 0.37 1.61 0.54 0.52 0.20 0.35 -0.61 -0.42 -5.91 5.06 -25.42 -25.96 0.55 30.47 30.23 0.24 -0.18 -0.45 -0.29 -0.16 -0.17 0.01 0.16 0.00 0.22 -0.11 0.05 0.11 -0.37 22.16 -19.87 8.39 8.48 -0.09 -28.26 -27.86 -0.39 -1.53 -3.59 -3.86 0.28 -0.24 0.51 -3.93 -0.33 -0.68 -1.83 -1.09 5.99 0.63 2.91 -6.32 12.54 18.51 -5.97 -18.86 -16.87 -1.99 0.38 1.85 2.32 -0.47 -0.12 -0.34 -5.62 0.38 -1.08 -5.30 0.38 4.15 4.33 2.91 -16.63 -13.43 -9.29 -4.14 -3.20 0.60 -3.79 4.15 2.48 2.54 -0.06 0.33 -0.39 6.60 0.09 1.02 3.69 1.81 -4.93 12.46 -12.81 5.10 6.05 1.16 4.89 -0.95 -1.46 0.51 -3.11 -7.01 -6.86 -0.15 -0.03 -0.12 -6.82 -0.16 0.26 -3.46 -3.46 10.72 -6.51 8.86 1.27 -8.90 1.87 -10.76 10.17 8.53 1.64 0.76 2.98 1.05 1.93 1.01 0.93 8.92 -0.11 0.38 8.08 0.57 -11.15 -6.70 -32.00 41.55 40.49 29.36 11.13 1.07 -0.78 1.85 -0.69 1.14 2.45 -1.31 -0.95 -0.36 0.32 -0.09 0.22 -0.23 0.41 -2.15 -2.12 13.20 -10.17 -19.90 -22.23 2.33 9.72 8.30 1.42 -0.37 -0.08 -0.28 -0.79 -0.57 -0.22 -0.65 0.20 -0.85 -0.15 -0.15 -0.01 3.58 1.48 2.11 10.86 0.60 10.26 -5.98 -1.41 -4.56 -2.14 0.95 -3.09 0.05 -0.34 0.39 -1.52 -0.75 -0.77 U.S. Virgin Islands Line June 17, 2024 Table 1.5. Percent Change From Preceding Year in Prices for Gross Domestic Product and Price Indexes for Gross Domestic Product 2012 1 2 Gross domestic product Personal consumption expenditures 13.7 3.6 3 4 Gross domestic product Personal consumption expenditures 100.0 100.0 r Revised p Preliminary U.S. Bureau of Economic Analysis 2013 2014 2015 2016 Percent -2.5 -2.9 3.2 2.1 2.5 0.3 0.7 0.9 Index numbers, 2012=100 97.5 94.7 97.7 99.7 102.5 102.7 103.5 104.4 2017 2018 r 2019 r 2020 r 2021 r 2022 p 0.6 2.1 1.5 2.5 2.1 1.2 4.3 1.7 2.8 5.3 5.0 10.3 100.4 106.7 101.9 109.3 104.0 110.6 108.5 112.5 111.5 118.5 117.1 130.7 2016 3,798 1,998 2017 3,794 2,012 2018 3,923 2,087 2019 4,121 2,592 2020r 4,229 2,546 2021r 4,507 2,306 2022p 4,672 2,330 184 1,616 174 1,608 195 1,641 189 1,340 102 1,581 159 2,042 211 2,131 Table 1.6. Gross Domestic Income Line 1 Gross domestic income 2 Compensation of employees Taxes on production and imports less 3 subsidies 4 Gross operating surplus r Revised p Preliminary Note. Detail may not add to total because of rounding. U.S. Bureau of Economic Analysis Line 1 2 3 2012 4,089 2,040 170 1,879 [Millions of dollars] 2013 2014 2015 3,738 3,565 3,663 1,886 1,893 1,936 161 1,691 160 1,512 175 1,552 Table 1.7. Revisions to Percent Change in Real Gross Domestic Product Percent change: Revised Previously published Percentage points: Revision U.S. Bureau of Economic Analysis 2013 2014 2015 2016 2017 2018 r 2019 r 2020 2021 -6.3 -6.3 -1.8 -1.8 -0.4 -0.4 1.6 1.6 -0.7 -0.7 1.9 1.9 2.9 2.9 -1.6 -1.9 3.7 2.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.9 U.S. Virgin Islands June 17, 2024 Table 2.1. Value Added by Industry Line 1 Gross domestic product 2 Private industries 3 Goods-producing industries 4 Services-producing industries 5 Wholesale and retail trade 6 Accommodation and food services 7 Other services, except government 8 Government 9 Federal 10 Territorial 2012 4,089 3,330 823 2,507 411 450 1,646 759 138 621 [Millions of dollars] 2013 2014 2015 3,738 3,565 3,663 2,986 2,815 2,865 556 448 386 2,430 2,367 2,479 411 405 398 454 470 486 1,565 1,493 1,596 752 750 797 139 135 144 613 615 654 2016 3,798 2,973 336 2,638 394 483 1,760 825 141 684 2017 3,794 3,008 373 2,635 381 436 1,818 786 140 646 2018r 3,923 3,207 687 2,520 380 288 1,852 716 146 570 2019r 4,121 3,333 743 2,591 395 341 1,855 788 160 629 2020r 4,229 3,335 643 2,693 365 253 2,074 893 175 718 2021 4,507 3,648 593 3,055 433 495 2,127 859 186 674 2019r 100 81 18 63 10 8 45 19 4 15 2020r 100 79 15 64 9 6 49 21 4 17 2021 100 81 13 68 10 11 47 19 4 15 r Revised Note. Detail may not add to total because of rounding. U.S. Bureau of Economic Analysis Table 2.2. Value Added by Industry as a Percentage of Gross Domestic Product Line 1 Gross domestic product 2 Private industries Goods-producing industries 3 4 Services-producing industries 5 Wholesale and retail trade 6 Accommodation and food services 7 Other services, except government 8 Government 9 Federal 10 Territorial r Revised Note. Detail may not add to total because of rounding. U.S. Bureau of Economic Analysis 2012 100 81 20 61 10 11 40 19 3 15 2013 100 80 15 65 11 12 42 20 4 16 2014 100 79 13 66 11 13 42 21 4 17 2015 100 78 11 68 11 13 44 22 4 18 2016 100 78 9 69 10 13 46 22 4 18 2017 100 79 10 69 10 11 48 21 4 17 2018r 100 82 18 64 10 7 47 18 4 15 U.S. Virgin Islands June 17, 2024 Table 2.3. Real Value Added by Industry Line 1 Gross domestic product 2 Private industries 3 Goods-producing industries 4 Services-producing industries 5 Wholesale and retail trade 6 Accommodation and food services 7 Other services, except government 8 Government 9 Federal 10 Territorial [Millions of chained (2012) dollars] 2012 2013 2014 2015 2016 4,089 3,832 3,764 3,748 3,808 3,330 3,105 3,067 3,025 3,076 823 559 435 363 312 2,507 2,548 2,646 2,685 2,796 411 407 398 384 383 450 441 444 438 428 1,646 1,700 1,812 1,880 2,015 759 724 694 717 725 138 137 130 134 131 621 586 563 583 595 r r r 2017 3,780 3,101 338 2,792 371 376 2,092 680 126 553 2018 3,851 3,279 606 2,658 367 240 2,135 594 127 467 2019 3,963 3,355 627 2,712 374 274 2,139 627 136 492 2020 3,899 3,211 532 2,680 329 200 2,262 688 147 541 2018r 1.9 5.7 79.3 -4.8 -1.1 -36.1 2.1 -12.7 0.6 -15.5 2019r 2.9 2.3 3.4 2.0 1.7 14.2 0.1 5.6 7.0 5.3 2020r -1.6 -4.3 -15.2 -1.2 -11.9 -26.9 5.8 9.7 8.3 10.0 2021 3.7 6.1 -13.8 10.9 4.3 86.5 2.6 -5.4 1.8 -7.2 r Revised U.S. Bureau of Economic Analysis Table 2.4. Percent Changes in Real Value Added by Industry Line 1 Gross domestic product 2 Private industries 3 Goods-producing industries 4 Services-producing industries 5 Wholesale and retail trade 6 Accommodation and food services 7 Other services, except government 8 Government 9 Federal 10 Territorial r Revised U.S. Bureau of Economic Analysis 2013 -6.3 -6.8 -32.0 1.6 -0.9 -2.0 3.3 -4.6 -0.2 -5.6 [Percent] 2014 2015 -1.8 -0.4 -1.2 -1.4 -22.3 -16.5 3.9 1.5 -2.2 -3.4 0.7 -1.4 6.5 3.7 -4.1 3.4 -5.3 3.2 -3.9 3.4 2016 1.6 1.7 -14.1 4.1 -0.4 -2.4 7.2 1.2 -2.7 2.1 2017 -0.7 0.8 8.5 -0.1 -3.0 -12.1 3.8 -6.3 -3.1 -6.9 2021 4,042 3,406 458 2,971 343 373 2,322 651 150 502 U.S. Virgin Islands June 17, 2024 Table 2.5. Contributions to Percent Change in Real Gross Domestic Product by Industry Line Percent change: 1 Gross domestic product Percentage points: 2 Private industries 3 Goods-producing industries 4 Services-producing industries 5 Wholesale and retail trade 6 Accommodation and food services 7 Other services, except government 8 Government 9 Federal 10 Territorial 2013 2014 2015 2016 2017 2018 r 2019 r 2020 r 2021 -6.3 -1.8 -0.4 1.6 -0.7 1.9 2.9 -1.6 3.7 -5.47 -6.46 0.99 -0.09 -0.22 1.30 -0.88 -0.01 -0.88 -0.96 -3.42 2.46 -0.25 0.08 2.63 -0.86 -0.20 -0.66 -1.08 -2.07 0.99 -0.39 -0.19 1.57 0.71 0.12 0.59 1.30 -1.48 2.78 -0.05 -0.32 3.14 0.26 -0.11 0.37 0.65 0.75 -0.10 -0.31 -1.55 1.77 -1.37 -0.12 -1.25 4.53 7.84 -3.31 -0.11 -4.19 0.99 -2.66 0.02 -2.68 1.89 0.60 1.29 0.17 1.05 0.07 1.03 0.26 0.77 -3.46 -2.73 -0.74 -1.14 -2.20 2.60 1.84 0.32 1.52 4.78 -2.13 6.91 0.39 5.24 1.28 -1.13 0.08 -1.21 r Revised Note. Percentage-point contributions do not sum to the percent change in real gross domestic product (GDP) because of rounding and differences in source data used to estimate GDP by industry and the expenditures measure of real GDP. U.S. Bureau of Economic Analysis Table 2.6. Compensation of Employees by Industry [Millions of dollars] Line 1 Total compensation 2 Private industries 3 Goods-producing industries 4 Services-producing industries 5 Wholesale and retail trade 6 Accommodation and food services 7 Other services, except government 8 Government 9 Federal 10 Territorial r Revised Note. Detail may not add to total because of rounding. U.S. Bureau of Economic Analysis 2012 2,040 1,319 275 1,045 209 212 624 721 136 585 2013 1,886 1,164 110 1,054 237 214 603 723 136 586 2014 1,893 1,163 103 1,060 223 222 616 730 132 598 2015 1,936 1,169 109 1,060 213 243 604 768 140 627 2016 1,998 1,213 108 1,104 207 248 649 786 138 648 2017 2,012 1,225 166 1,060 198 234 627 787 135 651 r 2018 2,087 1,292 284 1,008 197 128 683 795 140 654 2019r 2,592 1,755 540 1,215 209 176 830 837 154 683 2020r 2,546 1,637 479 1,159 194 159 806 909 169 740 2021 2,306 1,393 274 1,119 205 212 702 914 179 735