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EMBARGOED UNTIL RELEASE AT 8:30 A.M. EST, MONDAY, DECEMBER 17, 2018 Technical: Media: Christina Hovland (BEA) Jeannine Aversa (BEA) Tanya Harris Joshua (OIA) (301) 278-9076 (301) 278-9003 (202) 208-6008 BEA 18-68 territories@bea.gov Jeannine.Aversa@bea.gov Tanya_Joshua@ios.doi.gov U.S. VIRGIN ISLANDS GDP DECREASES IN 2017 Tourism spending declines following Hurricanes Irma and Maria Today, the Bureau of Economic Analysis (BEA) is releasing estimates of gross domestic product (GDP) for the U.S. Virgin Islands (USVI) for 2017, in addition to estimates of GDP by industry and compensation by industry for 2016. 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. Effects of Hurricanes Irma and Maria on Source Data The U.S. Virgin Islands suffered extensive damage from two major hurricanes in September 2017. These hurricanes affected the availability of various source data used in the estimation of USVI GDP, including financial statements for the territorial government and its independent agencies. Real GDP: Percent change from preceding year 2 0 -2 -4 -6 -8 -10 -12 -14 -16 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 U.S. Bureau of Economic Analysis Gross Domestic Product for 2017 The estimates of GDP for the USVI show that real GDP—GDP adjusted to remove price changes— decreased 1.7 percent in 2017 after increasing 0.9 percent in 2016 (see Table 1.3). For comparison, real 1 These estimates are based on limited source data and are subject to revision. GDP for the United States (excluding the territories) increased 2.2 percent in 2017 after increasing 1.6 percent in 2016. The decline in the USVI economy reflected decreases in exports of services and consumer spending (see Table 1.4). These decreases were partly offset by an increase in investment spending. Exports of services, which consists primarily of spending by tourists, decreased 16.0 percent, after increasing for 5 consecutive years. Tourism arrivals decreased 24.1 percent; arrivals fell significantly in the months following Hurricanes Irma and Maria. Consumer spending also decreased, reflecting widespread declines in household purchases of goods and services, including motor vehicles, food, housing and electricity, and health care. Partly offsetting these declines was growth in investment spending, by both the private sector and by government. Private sector inventory investment increased, reflecting increased storage capacity at an oil storage terminal on St. Croix. Construction spending by the territorial government increased, reflecting hurricane recovery work. Federal government spending also increased significantly due to disaster response activities, including a U.S. Army Corps of Engineers' mission to install temporary roofs on homes, schools, and the St. Thomas airport. Gross Domestic Product by Industry and Compensation by Industry for 2016 The estimates of GDP by industry for the USVI show that the private sector was the source of the growth in real GDP in 2016 (see Table 2.5). The growth in “other services” reflected the reopening of an oil storage terminal on St. Croix; a new operator took ownership of the facility previously owned by Hovensa and began receiving shipments of petroleum. 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 2016, reflecting growth in wages for “other services.” 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 Estimates for 2014 to 2016 that were released on December 1, 2017 have been revised in order to incorporate improvements to source data, including: • newly available data for territorial government spending from government financial statements and • updates to Census Bureau data on exports and imports of goods. The revised estimates show a similar pattern of inflation-adjusted growth as the previously published estimates (see Table 1.7). -2- Future directions Moving forward, an agreement between OIA and BEA will extend and improve the estimates of GDP for the USVI. The information provided by the USVI government will continue to be critical to the successful production of these estimates. BEA currently plans to release GDP estimates for 2018 beginning in the summer of 2019. GDP by industry and compensation by industry estimates for 2017 will also be released at the same time. -3- Additional Information Resources • • • • • 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. 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 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. 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.” Real values are inflation-adjusted estimates—that is, estimates that exclude the effects of price changes. 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 the USVI. Statistical Conventions Quantities and prices. Quantities, or “real” volume measures, and prices are expressed as index numbers with a specified reference year equal to 100 (currently 2009). 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 (2009) and then dividing by 100. Private fixed investment (PFI) measures spending by private businesses, nonprofit institutions, and households on fixed assets in the USVI economy. Fixed assets consist of structures, equipment, and software that are used in the production of goods and services. Change in private inventories (CIPI), or “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. 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 -4- 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 -5- U.S. Virgin Islands 1. Domestic Product and Income Table 1.1. Gross Domestic Product [Millions of dollars] Line Gross domestic product 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 1 4,803 4,250 4,203 4,339 4,239 4,095 3,762 3,622 3,748 3,863 3,855 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 2 3 4 5 6 7 8 9 10 11 12 13 2,280 1,319 822 497 258 239 2,075 587 189 515 784 -1,114 2,311 1,262 741 520 264 257 2,184 632 216 538 797 -1,135 2,368 1,215 688 527 277 250 2,156 653 231 507 764 -1,004 2,428 1,205 664 541 288 253 2,233 655 243 542 792 -1,011 2,524 1,233 678 556 305 251 2,323 710 268 551 793 -1,032 2,528 1,206 666 540 322 219 2,402 745 288 568 801 -1,080 2,526 1,200 718 481 319 162 2,444 788 294 585 777 -1,117 2,527 1,207 729 479 323 155 2,482 790 290 617 785 -1,162 2,609 1,213 718 495 332 163 2,596 828 312 652 804 -1,200 2,641 1,216 732 484 321 163 2,643 825 325 670 823 -1,218 2,640 1,117 627 490 326 165 2,572 851 306 615 800 -1,049 Private fixed investment Change in private inventories 14 15 529 -540 476 180 393 210 380 -267 363 104 263 114 274 149 286 -6 288 -172 289 582 310 839 Net exports of goods and services Exports Goods Services Imports Goods Services 16 17 18 19 20 21 22 1,532 14,141 13,002 1,139 12,608 12,251 357 240 18,412 17,255 1,157 18,172 17,861 311 123 10,717 9,696 1,021 10,595 10,310 285 580 12,945 11,922 1,023 12,365 12,067 298 100 14,371 13,329 1,043 14,271 13,943 329 163 3,278 2,186 1,091 3,114 2,932 182 -231 2,525 1,395 1,130 2,755 2,570 185 -234 2,795 1,623 1,172 3,029 2,841 188 -12 1,537 329 1,208 1,549 1,367 182 -678 1,808 582 1,226 2,487 2,291 195 -1,064 2,450 1,393 1,057 3,515 3,264 251 Government consumption expenditures and gross investment Federal Territorial 23 24 25 1,002 117 885 1,043 121 922 1,110 136 974 1,219 176 1,043 1,148 167 981 1,027 162 865 1,044 160 884 1,049 142 907 1,036 151 884 1,029 147 882 1,131 221 909p NOTE. Detail may not add to total because of rounding. (p) Fiscal year 2017 audited financial statements for the central government and various independent agencies were not available in time for incorporation into these estimates. Preliminary estimates of territorial government spending are based on information collected from budget documents and reports on federal grant expenditures, including disaster assistance grants. -6- U.S. Virgin Islands Table 1.2. Real Gross Domestic Product, Chained Dollars [Millions of chained (2009) dollars] Line Gross domestic product 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 1 4,460 4,502 4,203 4,241 3,895 3,310 3,117 3,090 3,096 3,124 3,071 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 2 3 4 5 6 7 8 9 10 11 12 13 2,417 1,430 898 534 277 257 2,184 646 200 530 808 -1,197 2,313 1,269 756 514 267 247 2,195 625 222 543 805 -1,153 2,368 1,215 688 527 277 250 2,156 653 231 507 764 -1,004 2,396 1,183 659 524 287 237 2,205 647 240 535 783 -992 2,375 1,138 633 504 293 213 2,220 652 262 531 775 -982 2,297 1,080 613 467 291 180 2,224 641 279 532 774 -1,005 2,240 1,074 664 414 279 139 2,197 639 282 537 739 -1,031 2,232 1,096 696 405 275 135 2,212 645 277 552 737 -1,076 2,287 1,119 702 421 270 158 2,273 661 297 567 747 -1,106 2,293 1,109 691 423 264 166 2,292 662 307 578 745 -1,110 2,236 1,001 586 415 260 162 2,168 647 287 520 712 -932 Private fixed investment Change in private inventories 14 15 540 -435 475 111 393 210 379 -207 356 59 253 62 261 82 269 -4 270 -175 270 687 287 801 Net exports of goods and services Exports Goods Services Imports Goods Services 16 17 18 19 20 21 22 920 11,731 10,538 1,222 10,811 10,469 361 498 11,903 10,738 1,173 11,405 11,106 297 123 10,717 9,696 1,021 10,595 10,310 285 511 10,278 9,277 1,004 9,768 9,482 288 67 8,559 7,617 992 8,492 8,226 273 -2 1,849 1,170 1,015 1,851 1,728 151 -114 1,547 861 1,042 1,661 1,539 151 -20 1,825 1,116 1,085 1,844 1,723 149 60 1,174 329 1,113 1,114 994 145 -468 1,417 647 1,118 1,885 1,763 158 -592 1,786 1,365 939 2,378 2,227 195 Government consumption expenditures and gross investment Federal Territorial 23 24 25 1,048 121 927 1,057 122 935 1,110 136 974 1,168 170 998 1,098 155 943 998 150 848 983 146 837 956 127 829 933 134 800 910 128 782 977 187 788p Addenda: Population (thousands)1 Per capita real GDP (chained dollars) 26 27 114.7 38,884 115.9 38,844 107.3 39,171 106.4 39,859 105.9 36,780 105.4 31,404 105.3 29,601 105.1 29,401 104.9 29,514 104.7 29,838 104.5 29,388 1. BEA estimates based on data from the U.S. Virgin Islands Bureau of Economic Research and the U.S. Census Bureau. (p) Fiscal year 2017 audited financial statements for the central government and various independent agencies were not available in time for incorporation into these estimates. Preliminary estimates of territorial government spending are based on information collected from budget documents and reports on federal grant expenditures, including disaster assistance grants. -7- U.S. Virgin Islands Table 1.3. Percent Change From Preceding Year in Real Gross Domestic Product [Percent] Line Gross domestic product 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 1 0.9 -6.6 0.9 -8.2 -15.0 -5.8 -0.9 0.2 0.9 -1.7 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 2 3 4 5 6 7 8 9 10 11 12 13 -4.3 -11.2 -15.7 -3.8 -3.8 -3.8 0.5 -3.3 10.9 2.4 -0.3 …….. 2.4 -4.2 -9.0 2.6 3.9 1.2 -1.8 4.5 4.4 -6.5 -5.2 …….. 1.2 -2.6 -4.3 -0.6 3.6 -5.0 2.3 -1.0 3.8 5.5 2.5 …….. -0.9 -3.9 -3.9 -3.8 1.9 -10.1 0.7 0.8 9.1 -0.8 -1.0 …….. -3.3 -5.1 -3.1 -7.4 -0.6 -15.9 0.2 -1.7 6.4 0.2 -0.2 …….. -2.5 -0.5 8.3 -11.3 -4.0 -22.5 -1.2 -0.2 1.2 0.8 -4.5 …….. -0.3 2.0 4.8 -2.1 -1.6 -3.0 0.6 0.9 -2.0 2.8 -0.3 …….. 2.5 2.1 0.9 4.0 -1.8 16.9 2.8 2.5 7.4 2.8 1.4 …….. 0.2 -0.9 -1.7 0.4 -2.0 5.2 0.8 0.0 3.5 1.9 -0.2 …….. -2.5 -9.8 -15.1 -1.8 -1.5 -2.2 -5.4 -2.2 -6.5 -10.0 -4.4 …….. Private fixed investment Change in private inventories 14 15 -12.1 …….. -17.4 …….. -3.5 …….. -6.1 …….. -28.8 …….. 3.1 …….. 3.0 …….. 0.1 …….. 0.2 …….. 6.1 …….. Net exports of goods and services Exports Goods Services Imports Goods Services 16 17 18 19 20 21 22 …….. 1.5 1.9 -4.0 5.5 6.1 -17.6 …….. -10.0 -9.7 -13.0 -7.1 -7.2 -4.0 …….. -4.1 -4.3 -1.6 -7.8 -8.0 0.9 …….. -16.7 -17.9 -1.3 -13.1 -13.2 -5.2 …….. -78.4 -84.6 2.4 -78.2 -79.0 -44.8 …….. -16.3 -26.5 2.7 -10.2 -10.9 0.4 …….. 17.9 29.6 4.1 11.0 11.9 -1.2 …….. -35.6 -70.6 2.6 -39.6 -42.3 -2.8 …….. 20.7 96.9 0.5 69.2 77.4 8.5 …….. 26.0 111.0 -16.0 26.1 26.3 23.6 Government consumption expenditures and gross investment Federal Territorial 23 24 25 0.8 1.0 0.8 5.1 11.7 4.2 5.1 24.8 2.4 -5.9 -8.6 -5.5 -9.1 -3.8 -10.1 -1.5 -2.2 -1.4 -2.8 -13.0 -0.9 -2.4 5.1 -3.5 -2.4 -4.0 -2.2 7.3 45.9 0.8p (p) Fiscal year 2017 audited financial statements for the central government and various independent agencies were not available in time for incorporation into these estimates. Preliminary estimates of territorial government spending are based on information collected from budget documents and reports on federal grant expenditures, including disaster assistance grants. -8- U.S. Virgin Islands Table 1.4. Contributions to Percent Change in Real Gross Domestic Product Line 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 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 1 0.9 -6.6 0.9 -8.2 -15.0 -5.8 -0.9 0.2 0.9 -1.7 2 3 4 5 6 7 8 9 10 11 12 13 -2.28 -3.45 -3.01 -0.44 -0.23 -0.22 0.23 -0.46 0.47 0.28 -0.06 0.94 1.26 -1.22 -1.53 0.31 0.24 0.07 -0.89 0.64 0.22 -0.80 -0.95 3.37 0.68 -0.76 -0.69 -0.07 0.23 -0.30 1.17 -0.15 0.21 0.66 0.46 0.27 -0.48 -1.06 -0.59 -0.47 0.12 -0.59 0.34 0.13 0.49 -0.10 -0.18 0.24 -1.80 -1.36 -0.46 -0.91 -0.04 -0.87 0.10 -0.27 0.37 0.03 -0.03 -0.54 -1.58 -0.16 1.36 -1.51 -0.33 -1.19 -0.73 -0.05 0.08 0.12 -0.89 -0.69 -0.23 0.65 0.92 -0.27 -0.14 -0.13 0.42 0.20 -0.16 0.44 -0.06 -1.30 1.72 0.69 0.17 0.52 -0.16 0.68 1.91 0.54 0.59 0.49 0.29 -0.89 0.16 -0.27 -0.32 0.05 -0.17 0.22 0.57 0.01 0.29 0.32 -0.04 -0.14 -1.70 -3.08 -2.86 -0.22 -0.13 -0.09 -3.72 -0.48 -0.55 -1.74 -0.95 5.10 Private fixed investment Change in private inventories 14 15 -1.44 17.57 -1.89 2.99 -0.32 -11.21 -0.52 8.93 -2.25 0.12 0.20 0.88 0.23 -3.86 0.01 -5.97 0.02 20.68 0.45 2.79 Net exports of goods and services Exports Goods Services Imports Goods Services 16 17 18 19 20 21 22 -13.12 5.39 6.44 -1.05 -18.51 -19.95 1.44 -10.21 -34.53 -31.08 -3.45 24.31 24.03 0.28 10.38 -11.66 -11.26 -0.40 22.04 22.10 -0.06 -14.50 -8.86 -55.71 -246.37 -55.42 -246.91 -0.29 0.54 41.21 237.51 40.84 234.36 0.37 3.15 -4.93 -12.73 -13.45 0.72 7.80 7.82 -0.02 3.77 11.88 10.64 1.24 -8.11 -8.17 0.06 5.14 -24.71 -25.54 0.83 29.85 29.70 0.15 -19.28 8.35 8.20 0.16 -27.63 -27.23 -0.41 -5.20 12.47 17.58 -5.11 -17.67 -16.46 -1.21 Government consumption expenditures and gross investment Federal Territorial 23 24 25 0.19 0.03 0.17 1.22 0.33 0.89 1.37 0.81 0.56 -0.38 -0.09 -0.30 -0.79 -0.57 -0.22 -0.69 0.20 -0.89 -0.67 -0.16 -0.51 1.95 1.77 0.18p -1.60 -0.34 -1.26 -2.23 -0.14 -2.09 (p) Fiscal year 2017 audited financial statements for the central government and various independent agencies were not available in time for incorporation into these estimates. Preliminary estimates of territorial government spending are based on information collected from budget documents and reports on federal grant expenditures, including disaster assistance grants. -9- U.S. Virgin Islands 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 2007 2008 2009 2010 1 2.5 -12.3 5.9 2.3 2 5.5 5.9 0.1 1.3 3 107.7 94.4 4 94.3 99.9 2011 6.4 2012 2013 [Percent] 13.7 2014 2015 2016 2017 -2.5 -2.9 3.3 2.1 1.5 0.4 0.8 1.0 2.5p 100.0 4.9 3.6 2.5 [Index numbers, 2009=100] 102.3 108.8 123.7 120.7 117.2 121.1 123.6 125.5 100.0 101.3 113.2 114.0 115.2 118.1p 106.3 110.1 112.8 (p) Complete information on the 2017 USVI Consumer Price Index was not available in time for incorporation. Table 1.6. Gross Domestic Income [Millions of dollars] Line Gross domestic income 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 1 4,803 4,250 4,203 4,339 4,239 4,095 3,762 3,622 3,748 3,863 3,855 Compensation of employees 2 2,139 2,185 2,114 2,245 2,198 2,042 1,880 1,881 1,920 1,969 1,984 Taxes on production and imports less subsidies 3 167 160 125 151 158 175 166 165 180 190 181 Gross operating surplus 4 2,497 1,905 1,964 1,943 1,883 1,878 1,716 1,576 1,648 1,704 1,690 NOTE. Detail may not add to total because of rounding. Table 1.7. Revisions to Percent Change in Real Gross Domestic Product Line 2008 2009 2010 2011 2012 2013 2014 2015 2016 Percent change: Revised Previously published 1 2 0.9 0.9 -6.6 -6.6 0.9 0.9 -8.2 -8.2 -15.0 -15.0 -5.8 -5.8 -0.9 -1.0 0.2 0.3 0.9 0.9 Percentage points: Revision 3 0.0 0.0 0.0 0.0 0.0 0.0 0.1 -0.1 0.0 - 10 - U.S. Virgin Islands 2. GDP by Industry Table 2.1. Value Added by Industry [Millions of dollars] Line Gross domestic product 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 1 4,803 4,250 4,203 4,339 4,239 4,095 3,762 3,622 3,748 3,863 Private industries Goods-producing industries Services-producing industries Wholesale and retail trade Accommodation and food services Other services, except government 2 3 4 5 6 7 4,020 1,487 2,533 449 405 1,678 3,443 993 2,450 435 424 1,591 3,374 1,042 2,332 408 400 1,524 3,461 1,035 2,426 413 428 1,585 3,398 955 2,443 422 436 1,585 3,331 824 2,507 411 450 1,646 3,006 593 2,413 402 463 1,547 2,867 519 2,348 393 489 1,466 2,945 513 2,432 386 517 1,530 3,048 506 2,542 381 531 1,630 Government Federal Territorial 8 9 10 783 120 663 807 125 682 829 130 699 878 141 738 841 139 702 764 139 626 757 140 617 755 136 619 803 145 658 815 142 673 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 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 1 100 100 100 100 100 100 100 100 100 100 Private industries Goods-producing industries Services-producing industries Wholesale and retail trade Accommodation and food services Other services, except government 2 3 4 5 6 7 84 31 53 9 8 35 81 23 58 10 10 37 80 25 55 10 10 36 80 24 56 10 10 37 80 23 58 10 10 37 81 20 61 10 11 40 80 16 64 11 12 41 79 14 65 11 14 40 79 14 65 10 14 41 79 13 66 10 14 42 Government Federal Territorial 8 9 10 16 2 14 19 3 16 20 3 17 20 3 17 20 3 17 19 3 15 20 4 16 21 4 17 21 4 18 21 4 17 - 11 - U.S. Virgin Islands Table 2.3. Real Value Added by Industry [Millions of chained (2009) dollars] Line Gross domestic product 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 1 4,460 4,502 4,203 4,241 3,895 3,310 3,117 3,090 3,096 3,124 Private industries Goods-producing industries Services-producing industries Wholesale and retail trade Accommodation and food services Other services, except government 2 3 4 5 6 7 3,634 1,012 2,646 464 433 1,747 3,661 1,138 2,523 442 452 1,629 3,374 1,042 2,332 408 400 1,524 3,408 1,019 2,389 408 429 1,552 3,086 774 2,324 410 437 1,479 2,568 463 2,233 388 434 1,414 2,410 335 2,255 377 434 1,446 2,408 284 2,341 365 446 1,534 2,391 272 2,343 352 449 1,546 2,423 266 2,391 349 453 1,595 Government Federal Territorial 8 9 10 833 127 707 841 129 712 829 130 699 833 135 697 808 131 677 755 130 624 719 130 589 690 123 567 715 127 588 710 123 587 Table 2.4. Percent Changes in Real Value Added by Industry [Percent] Line Gross domestic product 2008 2009 2010 2011 2012 2013 2014 2015 2016 1 0.9 -6.6 0.9 -8.2 -15.0 -5.8 -0.9 0.2 0.9 Private industries Goods-producing industries Services-producing industries Wholesale and retail trade Accommodation and food services Other services, except government 2 3 4 5 6 7 0.8 12.5 -4.6 -4.7 4.4 -6.8 -7.9 -8.5 -7.6 -7.9 -11.5 -6.4 1.0 -2.1 2.4 0.2 7.1 1.8 -9.5 -24.1 -2.7 0.3 2.0 -4.7 -16.8 -40.2 -3.9 -5.3 -0.8 -4.4 -6.2 -27.5 1.0 -2.9 0.0 2.3 -0.1 -15.4 3.8 -3.2 2.8 6.1 -0.7 -4.2 0.1 -3.5 0.8 0.8 1.3 -2.0 2.1 -0.8 0.8 3.2 Government Federal Territorial 8 9 10 0.9 1.8 0.7 -1.4 0.9 -1.8 0.4 4.2 -0.3 -3.0 -3.3 -2.9 -6.5 -0.5 -7.7 -4.7 -0.3 -5.7 -4.1 -5.5 -3.8 3.7 3.2 3.8 -0.7 -2.8 -0.3 - 12 - U.S. Virgin Islands Table 2.5. Contributions to Percent Change in Real Gross Domestic Product by Industry Line 2008 2009 2010 2011 2012 2013 2014 2015 2016 Percent change: Gross domestic product Percentage points: Private industries Goods-producing industries Services-producing industries Wholesale and retail trade Accommodation and food services Other services, except government 1 0.9 -6.6 0.9 -8.2 -15.0 -5.8 -0.9 0.2 0.9 2 3 4 5 6 7 0.65 3.27 -2.62 -0.47 0.39 -2.54 -6.38 -2.08 -4.29 -0.79 -1.15 -2.36 0.82 -0.53 1.35 0.02 0.66 0.66 -7.63 -6.13 -1.50 0.03 0.19 -1.71 -13.88 -11.76 -2.12 -0.49 -0.07 -1.56 -4.97 -5.55 0.58 -0.30 -0.01 0.88 -0.09 -2.51 2.42 -0.34 0.36 2.41 -0.55 -0.60 0.05 -0.38 0.10 0.32 1.06 -0.28 1.33 -0.09 0.11 1.31 Government Federal Territorial 8 9 10 0.16 0.05 0.11 -0.26 0.02 -0.28 0.08 0.13 -0.05 -0.58 -0.10 -0.48 -1.16 -0.02 -1.15 -0.91 -0.01 -0.90 -0.85 -0.21 -0.64 0.76 0.12 0.64 -0.16 -0.11 -0.05 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 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 1 2,139 2,185 2,114 2,245 2,198 2,042 1,880 1,881 1,920 1,969 Private industries Goods-producing industries Services-producing industries Wholesale and retail trade Accommodation and food services Other services, except government 2 3 4 5 6 7 1,399 369 1,030 201 208 621 1,411 340 1,070 205 217 649 1,318 309 1,008 197 191 620 1,393 317 1,076 198 204 674 1,386 302 1,084 209 208 668 1,319 275 1,045 209 212 624 1,157 110 1,047 236 214 597 1,150 102 1,048 222 221 604 1,151 109 1,042 212 243 588 1,182 108 1,074 206 247 622 Government Federal Territorial 8 9 10 741 118 622 774 123 651 797 129 668 852 140 712 812 138 674 722 137 585 724 137 586 731 133 598 769 142 627 786 139 648 Total compensation NOTE. Detail may not add to total because of rounding. - 13 -