Front Matter Page
© 2004 International Monetary Fund
December 2004
IMF Country Report No. 04/401
St. Lucia: Statistical Appendix
This Statistical Appendix for St. Lucia was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. It is based on the information available at the time it was completed on April 15, 2004. The views expressed in this document are those of the staff team and do not necessarily reflect the views of the government of St. Lucia or the Executive Board of the IMF.
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Front Matter Page
INTERNATIONAL MONETARY FUND
ST. LUCIA
Statistical Appendix
Prepared by Eric Verreydt, Claudio Visconti and Tobias Rasmussen (all WHD), and Philippe Karam (INS)
Approved by Westerm Hemisphere Department
April 15, 2004
Contents
Basic Data
Statistical Appendix—Tables
1. Selected Economic and Financial Indicators
2. GDP by Economic Activity at Constant Factor Cost
3. GDP by Economic Activity at Current Factor Cost
4. Expenditure on GDP at Current Prices
5. Savings and Investment
6. Selected Data on the Banana Industry
7. Selected Industrial Production
8. Consumer Price Index
9. Operations of the Consolidated Public Sector (In percent of GDP)
10. Operations of the Central Government (In percent of GDP)
11. Operations of the Central Government (In millions of EC$)
12. Consolidated Accounts of the Nonfinancial Public Enterprises
13. Expenditure and Financing of the Public Sector Investment Program (PSIP) (In percent of GDP)
14. Expenditure and Financing of the Public Sector Investment Program (PSIP) (In millions of EC$)
15. Monetary Survey
16. Summary Operations of the Eastern Caribbean Central Bank
17. Consolidated Accounts of the Commercial Banks
18. Selected Interest Rates
19. Sectoral Distribution of Commercial Bank Loans and Advances
20. Summary Balance of Payments
21. Value, Volume and Unit Value of Major Exports
22. Merchandise Imports by SITC Category
23. Imports and Prices of Petroleum Products
24. Merchandise Trade Volumes, Unit Values and Terms of Trade
25. Direction of Trade
26. Selected Tourism Statistics
27. Stayover Tourist Arrivals by Country of Origin
28. Summary External Public Debt
29. Effective Exchange Rate Indices
Summary of the Tax System
St. Lucia: Basic Data
I. Social and Demographic Indicators
Data for fiscal years beginning April. The Public Sector comprises the Central Government, the Castries City Council, the National Insurance Corporation, the St. Lucia Air and Sea Ports Authority, the Water and Sewerage Company, the National Development Corporation, and the Marketing Board.
Including grants.
After grants.
Change as a percentage of liabilities to the private sector at the beginning of the period.
Includes errors and omissions.
Imputed reserves at the ECCB.
Excluding tourism.
November for 2003.
Total public and publicly guaranteed debt.
I. Social and Demographic Indicators
| Area (sq. km.) | 616 | Health (1998) | |||
| Arable land (percent of land area, 2000) | 4.9 | Population per physician | 2,533 | ||
| Population per hospital bed | 292 | ||||
| Population (2001) | |||||
| Total (thousands) | 157.9 | Access to safe water (1998) | |||
| Annual rate of growth, 1991-2001 | Percent of population | ||||
| (percent a year) | 1.4 | Urban | 100.0 | ||
| Density (per sq. km.) | 257 | Rural | |||
| GDP per capita (US$), 2001 | 4,142 | ||||
| Education (2001) | |||||
| Population characteristics (2001) | Gross enrollment | ||||
| Infant mortality (per thousand live births) | 16.8 | Primary | 24,719 | ||
| Secondary | 13,265 | ||||
| Distribution of labor force (in percent, 1999) | |||||
| Agriculture | 21.7 | GDP (2001) | EC$1,766 million | ||
| Industry and mining | 19.2 | US$654 million | |||
| Services | 59.0 | ||||
| II. Economic Indicators, 1999-2003 | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Est. | ||||||||||||||
| 1999 | 2000 | 2001 | 2002 | 2003 | ||||||||||
| (In percent of GDP) | ||||||||||||||
| Origin of GDP | ||||||||||||||
| Agriculture and mining | 7.9 | 7.9 | 7.2 | 6.8 | 5.8 | |||||||||
| Manufacturing and construction | 14.6 | 13.5 | 13.2 | 12.6 | 12.2 | |||||||||
| Services | 77.5 | 78.6 | 79.6 | 80.6 | 82.0 | |||||||||
| (Annual percentage changes, unless otherwise indicated) | ||||||||||||||
| National accounts and prices | ||||||||||||||
| Real GDP | 2.8 | 0.1 | -4.3 | 0.0 | 2.3 | |||||||||
| Real GDP per capita | 1.6 | -1.3 | -5.5 | -1.4 | 0.9 | |||||||||
| GDP deflator | 4.7 | 2.2 | 1.3 | 1.2 | 0.6 | |||||||||
| Consumer price index (period average) | 3.5 | 3.6 | 2.1 | -0.2 | 1.0 | |||||||||
| Consumer price index (end of period) | 6.1 | 0.4 | 2.1 | -0.6 | 0.5 | |||||||||
| Unemployment rate (in percent) | 18.1 | 16.4 | 18.1 | 16.2 | … | |||||||||
| (Ratios to GDP) | ||||||||||||||
| Public finances 1/ | ||||||||||||||
| Central government | ||||||||||||||
| Total revenue 2/ | 29.2 | 27.0 | 25.7 | 26.0 | 26.6 | |||||||||
| Total expenditure | 28.7 | 28.3 | 30.1 | 33.5 | 32.4 | |||||||||
| Of which | ||||||||||||||
| Interest | 1.3 | 1.6 | 2.4 | 2.5 | 3.3 | |||||||||
| Savings | 6.1 | 5.5 | 1.6 | 0.3 | 0.0 | |||||||||
| Primary balance 3/ | 1.8 | 0.3 | -2.0 | -5.0 | -2.5 | |||||||||
| Overall balance 3/ | 0.5 | -1.3 | -4.4 | -7.5 | -5.8 | |||||||||
| Consolidated public sector | ||||||||||||||
| Savings | 10.7 | 10.2 | 5.6 | 4.3 | 4.3 | |||||||||
| Primary balance 3/ | 4.5 | 2.9 | 1.3 | -1.4 | 1.0 | |||||||||
| Overall balance 3/ | 2.6 | 0.6 | -1.7 | -4.4 | -2.8 | |||||||||
| Total public debt | 38.7 | 43.9 | 49.4 | 61.6 | 65.7 | |||||||||
| (12-month percentage changes, unless otherwise indicated) | ||||||||||||||
| Money and credit 4/ | ||||||||||||||
| Liabilities to private sector | 9.7 | 7.9 | 4.7 | 3.2 | 4.8 | |||||||||
| Of which | ||||||||||||||
| Money | 8.0 | 6.9 | -0.8 | 1.3 | 6.0 | |||||||||
| Quasi money | 10.3 | 8.2 | 6.4 | 3.7 | 4.4 | |||||||||
| Net domestic assets of the banking system | 10.8 | 4.7 | 4.6 | 4.1 | -6.3 | |||||||||
| Of which | ||||||||||||||
| Credit to the public sector (net) | -2.9 | -1.8 | -2.0 | 2.5 | -2.5 | |||||||||
| Credit to the private sector | 13.6 | 8.0 | 5.1 | 0.9 | -4.1 | |||||||||
| Liabilities to private sector, in percent of GDP | 60.5 | 63.9 | 69.9 | 69.7 | 71.3 | |||||||||
| (In millions of U.S. dollars, unless otherwise indicated) | ||||||||||||||
| Balance of payments | ||||||||||||||
| Current account | -83.6 | -84.8 | -59.0 | -84.9 | -129.1 | |||||||||
| Trade balance (goods) | -251.1 | -259.6 | -218.0 | -205.7 | -286.4 | |||||||||
| Exports, f.o.b. | 60.9 | 52.9 | 54.1 | 69.8 | 66.1 | |||||||||
| Imports, f.o.b. | -312.0 | -312.5 | -272.1 | -275.6 | -352.6 | |||||||||
| Services and transfers (net) | 167.5 | 174.8 | 158.9 | 120.9 | 157.3 | |||||||||
| Of which | ||||||||||||||
| Tourism receipts | 277.1 | 286.1 | 251.2 | 230.7 | 266.7 | |||||||||
| Interest (public sector) | 6.9 | 8.1 | 11.5 | 10.7 | 15.5 | |||||||||
| Capital and financial account 5/ | 91.3 | 93.0 | 69.2 | 90.0 | 146.3 | |||||||||
| Capital transfers | 25.1 | 15.8 | 26.4 | 21.4 | 25.9 | |||||||||
| Official borrowing (net) | 13.3 | 29.5 | 20.9 | 41.5 | 67.5 | |||||||||
| Private capital 5/ | 52.9 | 47.8 | 21.8 | 27.1 | 52.9 | |||||||||
| Change in net international reserves (increase -) 6/ | -7.7 | -8.2 | -10.1 | -5.1 | -17.2 | |||||||||
| Exports (in percent of GDP) | 9.1 | 7.7 | 8.3 | 10.3 | 9.5 | |||||||||
| Imports (in percent of GDP) | 46.6 | 45.7 | 41.6 | 40.7 | 50.9 | |||||||||
| Current account (in percent of GDP) | -12.5 | -12.4 | -9.0 | -12.5 | -18.6 | |||||||||
| Goods exports (in US$, annual percentage change) | -13.5 | -13.2 | 2.4 | 29.1 | -5.3 | |||||||||
| Goods imports (in US$, annual percentage change) | 5.0 | -1.8 | -13.0 | 4.4 | 20.0 | |||||||||
| Terms of trade (annual percentage change) 7/ | 7.1 | -5.9 | 1.6 | 1.2 | 3.0 | |||||||||
| Real effective exchange rate (12-month percentage change) 8/ | 8.5 | 3.0 | 0.3 | -6.2 | -11.5 | |||||||||
| International reserve position and external debt | ||||||||||||||
| Gross official reserves | 79.2 | 83.1 | 91.2 | 95.9 | 112.1 | |||||||||
| Net official reserves (Central Bank, imputed) | 72.5 | 77.0 | 87.1 | 91.9 | 109.1 | |||||||||
| Net reserves of the banking system | -42.3 | -33.8 | -43.6 | -52.9 | -17.8 | |||||||||
| Outstanding external debt, in percent of GDP | … | … | … | … | … | |||||||||
| Public 9/ | 25.4 | 28.8 | 32.8 | 38.4 | 47.6 | |||||||||
| Private | … | … | … | … | … | |||||||||
| Total debt service ratio (in percent of exports of goods and services) | 4.4 | 5.3 | 10.4 | 10.0 | 8.5 | |||||||||
| Gross reserves/short-term debt (in percent) | … | … | … | … | … | |||||||||
| IMF data (as of December 31, 2003) | ||||||||||||||
| Membership status: | Article VIII | |||||||||||||
| Intervention currency and rate | U.S. dollar at EC$2.70 per U.S. dollar | |||||||||||||
| Quota | SDR 15.3 million | |||||||||||||
| Fund holdings of Eastern Caribbean dollars | SDR 15.3 million | |||||||||||||
| (as percent of quota) | 100 percent | |||||||||||||
| Outstanding purchases and loans | None | |||||||||||||
| SDR department | ||||||||||||||
| Net cumulative allocation | SDR 0.74 million | |||||||||||||
| Holdings | SDR 1.49 million | |||||||||||||
Data for fiscal years beginning April. The Public Sector comprises the Central Government, the Castries City Council, the National Insurance Corporation, the St. Lucia Air and Sea Ports Authority, the Water and Sewerage Company, the National Development Corporation, and the Marketing Board.
Including grants.
After grants.
Change as a percentage of liabilities to the private sector at the beginning of the period.
Includes errors and omissions.
Imputed reserves at the ECCB.
Excluding tourism.
November for 2003.
Total public and publicly guaranteed debt.
I. Social and Demographic Indicators
| Area (sq. km.) | 616 | Health (1998) | |||
| Arable land (percent of land area, 2000) | 4.9 | Population per physician | 2,533 | ||
| Population per hospital bed | 292 | ||||
| Population (2001) | |||||
| Total (thousands) | 157.9 | Access to safe water (1998) | |||
| Annual rate of growth, 1991-2001 | Percent of population | ||||
| (percent a year) | 1.4 | Urban | 100.0 | ||
| Density (per sq. km.) | 257 | Rural | |||
| GDP per capita (US$), 2001 | 4,142 | ||||
| Education (2001) | |||||
| Population characteristics (2001) | Gross enrollment | ||||
| Infant mortality (per thousand live births) | 16.8 | Primary | 24,719 | ||
| Secondary | 13,265 | ||||
| Distribution of labor force (in percent, 1999) | |||||
| Agriculture | 21.7 | GDP (2001) | EC$1,766 million | ||
| Industry and mining | 19.2 | US$654 million | |||
| Services | 59.0 | ||||
| II. Economic Indicators, 1999-2003 | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Est. | ||||||||||||||
| 1999 | 2000 | 2001 | 2002 | 2003 | ||||||||||
| (In percent of GDP) | ||||||||||||||
| Origin of GDP | ||||||||||||||
| Agriculture and mining | 7.9 | 7.9 | 7.2 | 6.8 | 5.8 | |||||||||
| Manufacturing and construction | 14.6 | 13.5 | 13.2 | 12.6 | 12.2 | |||||||||
| Services | 77.5 | 78.6 | 79.6 | 80.6 | 82.0 | |||||||||
| (Annual percentage changes, unless otherwise indicated) | ||||||||||||||
| National accounts and prices | ||||||||||||||
| Real GDP | 2.8 | 0.1 | -4.3 | 0.0 | 2.3 | |||||||||
| Real GDP per capita | 1.6 | -1.3 | -5.5 | -1.4 | 0.9 | |||||||||
| GDP deflator | 4.7 | 2.2 | 1.3 | 1.2 | 0.6 | |||||||||
| Consumer price index (period average) | 3.5 | 3.6 | 2.1 | -0.2 | 1.0 | |||||||||
| Consumer price index (end of period) | 6.1 | 0.4 | 2.1 | -0.6 | 0.5 | |||||||||
| Unemployment rate (in percent) | 18.1 | 16.4 | 18.1 | 16.2 | … | |||||||||
| (Ratios to GDP) | ||||||||||||||
| Public finances 1/ | ||||||||||||||
| Central government | ||||||||||||||
| Total revenue 2/ | 29.2 | 27.0 | 25.7 | 26.0 | 26.6 | |||||||||
| Total expenditure | 28.7 | 28.3 | 30.1 | 33.5 | 32.4 | |||||||||
| Of which | ||||||||||||||
| Interest | 1.3 | 1.6 | 2.4 | 2.5 | 3.3 | |||||||||
| Savings | 6.1 | 5.5 | 1.6 | 0.3 | 0.0 | |||||||||
| Primary balance 3/ | 1.8 | 0.3 | -2.0 | -5.0 | -2.5 | |||||||||
| Overall balance 3/ | 0.5 | -1.3 | -4.4 | -7.5 | -5.8 | |||||||||
| Consolidated public sector | ||||||||||||||
| Savings | 10.7 | 10.2 | 5.6 | 4.3 | 4.3 | |||||||||
| Primary balance 3/ | 4.5 | 2.9 | 1.3 | -1.4 | 1.0 | |||||||||
| Overall balance 3/ | 2.6 | 0.6 | -1.7 | -4.4 | -2.8 | |||||||||
| Total public debt | 38.7 | 43.9 | 49.4 | 61.6 | 65.7 | |||||||||
| (12-month percentage changes, unless otherwise indicated) | ||||||||||||||
| Money and credit 4/ | ||||||||||||||
| Liabilities to private sector | 9.7 | 7.9 | 4.7 | 3.2 | 4.8 | |||||||||
| Of which | ||||||||||||||
| Money | 8.0 | 6.9 | -0.8 | 1.3 | 6.0 | |||||||||
| Quasi money | 10.3 | 8.2 | 6.4 | 3.7 | 4.4 | |||||||||
| Net domestic assets of the banking system | 10.8 | 4.7 | 4.6 | 4.1 | -6.3 | |||||||||
| Of which | ||||||||||||||
| Credit to the public sector (net) | -2.9 | -1.8 | -2.0 | 2.5 | -2.5 | |||||||||
| Credit to the private sector | 13.6 | 8.0 | 5.1 | 0.9 | -4.1 | |||||||||
| Liabilities to private sector, in percent of GDP | 60.5 | 63.9 | 69.9 | 69.7 | 71.3 | |||||||||
| (In millions of U.S. dollars, unless otherwise indicated) | ||||||||||||||
| Balance of payments | ||||||||||||||
| Current account | -83.6 | -84.8 | -59.0 | -84.9 | -129.1 | |||||||||
| Trade balance (goods) | -251.1 | -259.6 | -218.0 | -205.7 | -286.4 | |||||||||
| Exports, f.o.b. | 60.9 | 52.9 | 54.1 | 69.8 | 66.1 | |||||||||
| Imports, f.o.b. | -312.0 | -312.5 | -272.1 | -275.6 | -352.6 | |||||||||
| Services and transfers (net) | 167.5 | 174.8 | 158.9 | 120.9 | 157.3 | |||||||||
| Of which | ||||||||||||||
| Tourism receipts | 277.1 | 286.1 | 251.2 | 230.7 | 266.7 | |||||||||
| Interest (public sector) | 6.9 | 8.1 | 11.5 | 10.7 | 15.5 | |||||||||
| Capital and financial account 5/ | 91.3 | 93.0 | 69.2 | 90.0 | 146.3 | |||||||||
| Capital transfers | 25.1 | 15.8 | 26.4 | 21.4 | 25.9 | |||||||||
| Official borrowing (net) | 13.3 | 29.5 | 20.9 | 41.5 | 67.5 | |||||||||
| Private capital 5/ | 52.9 | 47.8 | 21.8 | 27.1 | 52.9 | |||||||||
| Change in net international reserves (increase -) 6/ | -7.7 | -8.2 | -10.1 | -5.1 | -17.2 | |||||||||
| Exports (in percent of GDP) | 9.1 | 7.7 | 8.3 | 10.3 | 9.5 | |||||||||
| Imports (in percent of GDP) | 46.6 | 45.7 | 41.6 | 40.7 | 50.9 | |||||||||
| Current account (in percent of GDP) | -12.5 | -12.4 | -9.0 | -12.5 | -18.6 | |||||||||
| Goods exports (in US$, annual percentage change) | -13.5 | -13.2 | 2.4 | 29.1 | -5.3 | |||||||||
| Goods imports (in US$, annual percentage change) | 5.0 | -1.8 | -13.0 | 4.4 | 20.0 | |||||||||
| Terms of trade (annual percentage change) 7/ | 7.1 | -5.9 | 1.6 | 1.2 | 3.0 | |||||||||
| Real effective exchange rate (12-month percentage change) 8/ | 8.5 | 3.0 | 0.3 | -6.2 | -11.5 | |||||||||
| International reserve position and external debt | ||||||||||||||
| Gross official reserves | 79.2 | 83.1 | 91.2 | 95.9 | 112.1 | |||||||||
| Net official reserves (Central Bank, imputed) | 72.5 | 77.0 | 87.1 | 91.9 | 109.1 | |||||||||
| Net reserves of the banking system | -42.3 | -33.8 | -43.6 | -52.9 | -17.8 | |||||||||
| Outstanding external debt, in percent of GDP | … | … | … | … | … | |||||||||
| Public 9/ | 25.4 | 28.8 | 32.8 | 38.4 | 47.6 | |||||||||
| Private | … | … | … | … | … | |||||||||
| Total debt service ratio (in percent of exports of goods and services) | 4.4 | 5.3 | 10.4 | 10.0 | 8.5 | |||||||||
| Gross reserves/short-term debt (in percent) | … | … | … | … | … | |||||||||
| IMF data (as of December 31, 2003) | ||||||||||||||
| Membership status: | Article VIII | |||||||||||||
| Intervention currency and rate | U.S. dollar at EC$2.70 per U.S. dollar | |||||||||||||
| Quota | SDR 15.3 million | |||||||||||||
| Fund holdings of Eastern Caribbean dollars | SDR 15.3 million | |||||||||||||
| (as percent of quota) | 100 percent | |||||||||||||
| Outstanding purchases and loans | None | |||||||||||||
| SDR department | ||||||||||||||
| Net cumulative allocation | SDR 0.74 million | |||||||||||||
| Holdings | SDR 1.49 million | |||||||||||||
Data for fiscal years beginning April. The Public Sector comprises the Central Government, the Castries City Council, the National Insurance Corporation, the St. Lucia Air and Sea Ports Authority, the Water and Sewerage Company, the National Development Corporation, and the Marketing Board.
Including grants.
After grants.
Change as a percentage of liabilities to the private sector at the beginning of the period.
Includes errors and omissions.
Imputed reserves at the ECCB.
Excluding tourism.
November for 2003.
Total public and publicly guaranteed debt.