St. Lucia: Statistical Appendix

International Monetary Fund

doi:10.5089/9781451823219.002.A001

Jump to Content Jump to Main Navigation

St. Lucia

Statistical Appendix

Author:

International Monetary Fund

International Monetary Fund
Search for other papers by International Monetary Fund in
Current site
Google Scholar

Publication Date:: 08 Dec 2004

eISBN:: 9781451823219

Language:: English

Keywords:: ISCR; CR; dollar; gross revenue; goods; goods export; value; produce goods; EC dollar; open market value; unit value; net credit

Download PDF (451.9 KB)

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.

Abstract

Table 1.

St. Lucia: Selected Economic and Financial Indicators

Sources: St. Lucian authorities; ECCB; and Fund staff estimates and projections.

^{^1/}For 2003, 12-month change through November 2003.

^{^2/}Changes in relation to liabilities to private sector at beginning of period.

^{^3/}Nominal GDP at market prices divided by the average stock of money (measured as the simple average of the current period stock and the stock 12-months earlier).

^{^4/}Data are for fiscal years beginning April 1. The nonfinancial public sector is defined here as the central government, the Castries City Council, the St. Lucia Air and Sea Ports Authority, the Water and Sewerage Company, the National Development Corporation, and the Marketing Board.

^{^5/}Includes liabilities to the NIC.

^{^6/}Total public and publicly guaranteed debt.

^{^7/}In percent of exports of goods and services.

^{^8/}Imputed reserves at the ECCB.

Table 1.

St. Lucia: Selected Economic and Financial Indicators

						Est.
		1999	2000	2001	2002	2003
		(Annual percentage changes, unless otherwise specified)
Output and prices
Real GDP at factor cost		2.8	0.1	-4.3	0.0	2.3
GDP at current market prices		6.1	2.1	-4.3	3.4	2.4
GDP deflator at factor cost		4.7	2.2	1.3	1.2	0.6
Consumer prices (end of period)		6.1	0.4	2.1	-0.6	0.5
Unemployment rate		18.1	16.4	18.1	16.2	…
Banana production		-10.7	7.7	-51.6	41.5	-34.8
Tourist stayovers		3.3	3.6	-7.3	1.3	11.0
External sector
Exports, f.o.b.		-13.5	-13.2	2.4	29.1	-5.3
Imports, f.o.b.		5.8	0.1	-12.9	1.3	27.9
Travel receipts		1.9	3.3	-12.2	-8.1	15.6
Terms of trade		7.3	-7.0	-3.9	-6.5	1.7
	Excluding tourism	7.1	-5.9	1.6	1.2	3.0
Nominal effective exchange rate (end of period, depreciation -) ^1/		4.6	6.4	1.8	-5.3	-4.7
Real effective exchange rate (end of period, depreciation -) ^1/		8.5	3.0	0.3	-6.2	-7.6
Money and credit ^2/
Domestic assets (net)		10.8	4.7	4.6	4.1	-6.3
	Credit to public sector (net)	-2.9	-1.8	-2.0	2.5	-2.5
	Credit to private sector	13.6	8.0	5.1	0.9	-4.1
Money and quasi-money		9.7	7.9	4.7	3.2	4.8
Velocity of money (M2) ^3/		1.7	1.6	1.5	1.5	1.4
		(In percent of GDP, unless otherwise specified)
Nonfinancial public sector ^4/
Current balance		7.7	7.0	2.8	1.1	1.1
	Of which: central government	6.1	5.5	1.6	0.3	0.0
Capital outlays		11.4	9.0	8.4	10.4	8.9
Overall balance (before grants)		-3.5	-1.9	-5.4	-9.4	-7.9
Overall balance (after grants)		-0.1	-1.3	-4.0	-7.4	-5.7
	Of which: central government	0.5	-1.3	-4.4	-7.5	-5.8
Overall balance (after grants), including the National Insurance Corporation (NIC)		2.6	0.6	-1.7	-4.4	-2.8
Total public sector debt ^5/		38.7	43.9	49.4	61.6	65.7
	Of which: central government	26.4	31.0	36.0	48.4	52.7
External sector
Current account balance		-12.5	-12.4	-9.0	-12.5	-18.6
External debt (end of period) ^6/		25.4	28.8	32.8	38.4	47.6
Debt-service ratio ^7/		4.4	5.3	10.4	10.0	8.5
		(In millions of U.S. dollars)
GDP at current market prices		669.0	683.2	654.0	676.5	692.8
Change in net international reserves (increase -) ^8/		-3.9	-4.4	-17.0	-13.7	-4.0

Sources: St. Lucian authorities; ECCB; and Fund staff estimates and projections.

^{^1/}For 2003, 12-month change through November 2003.

^{^2/}Changes in relation to liabilities to private sector at beginning of period.

^{^3/}Nominal GDP at market prices divided by the average stock of money (measured as the simple average of the current period stock and the stock 12-months earlier).

^{^5/}Includes liabilities to the NIC.

^{^6/}Total public and publicly guaranteed debt.

^{^7/}In percent of exports of goods and services.

^{^8/}Imputed reserves at the ECCB.

Table 1.

St. Lucia: Selected Economic and Financial Indicators

						Est.
		1999	2000	2001	2002	2003
		(Annual percentage changes, unless otherwise specified)
Output and prices
Real GDP at factor cost		2.8	0.1	-4.3	0.0	2.3
GDP at current market prices		6.1	2.1	-4.3	3.4	2.4
GDP deflator at factor cost		4.7	2.2	1.3	1.2	0.6
Consumer prices (end of period)		6.1	0.4	2.1	-0.6	0.5
Unemployment rate		18.1	16.4	18.1	16.2	…
Banana production		-10.7	7.7	-51.6	41.5	-34.8
Tourist stayovers		3.3	3.6	-7.3	1.3	11.0
External sector
Exports, f.o.b.		-13.5	-13.2	2.4	29.1	-5.3
Imports, f.o.b.		5.8	0.1	-12.9	1.3	27.9
Travel receipts		1.9	3.3	-12.2	-8.1	15.6
Terms of trade		7.3	-7.0	-3.9	-6.5	1.7
	Excluding tourism	7.1	-5.9	1.6	1.2	3.0
Nominal effective exchange rate (end of period, depreciation -) ^1/		4.6	6.4	1.8	-5.3	-4.7
Real effective exchange rate (end of period, depreciation -) ^1/		8.5	3.0	0.3	-6.2	-7.6
Money and credit ^2/
Domestic assets (net)		10.8	4.7	4.6	4.1	-6.3
	Credit to public sector (net)	-2.9	-1.8	-2.0	2.5	-2.5
	Credit to private sector	13.6	8.0	5.1	0.9	-4.1
Money and quasi-money		9.7	7.9	4.7	3.2	4.8
Velocity of money (M2) ^3/		1.7	1.6	1.5	1.5	1.4
		(In percent of GDP, unless otherwise specified)
Nonfinancial public sector ^4/
Current balance		7.7	7.0	2.8	1.1	1.1
	Of which: central government	6.1	5.5	1.6	0.3	0.0
Capital outlays		11.4	9.0	8.4	10.4	8.9
Overall balance (before grants)		-3.5	-1.9	-5.4	-9.4	-7.9
Overall balance (after grants)		-0.1	-1.3	-4.0	-7.4	-5.7
	Of which: central government	0.5	-1.3	-4.4	-7.5	-5.8
Overall balance (after grants), including the National Insurance Corporation (NIC)		2.6	0.6	-1.7	-4.4	-2.8
Total public sector debt ^5/		38.7	43.9	49.4	61.6	65.7
	Of which: central government	26.4	31.0	36.0	48.4	52.7
External sector
Current account balance		-12.5	-12.4	-9.0	-12.5	-18.6
External debt (end of period) ^6/		25.4	28.8	32.8	38.4	47.6
Debt-service ratio ^7/		4.4	5.3	10.4	10.0	8.5
		(In millions of U.S. dollars)
GDP at current market prices		669.0	683.2	654.0	676.5	692.8
Change in net international reserves (increase -) ^8/		-3.9	-4.4	-17.0	-13.7	-4.0

Sources: St. Lucian authorities; ECCB; and Fund staff estimates and projections.

^{^1/}For 2003, 12-month change through November 2003.

^{^2/}Changes in relation to liabilities to private sector at beginning of period.

^{^3/}Nominal GDP at market prices divided by the average stock of money (measured as the simple average of the current period stock and the stock 12-months earlier).

^{^5/}Includes liabilities to the NIC.

^{^6/}Total public and publicly guaranteed debt.

^{^7/}In percent of exports of goods and services.

^{^8/}Imputed reserves at the ECCB.

Table 2.

St. Lucia: GDP By Economic Activity at Constant Factor Cost

Sources: Statistics Department of the Ministry of Finance; and Fund staff estimates.

Table 2.

St. Lucia: GDP By Economic Activity at Constant Factor Cost

						Est.
		1999	2000	2001	2002	2003
		(In millions of 1990 Eastern Caribbean dollars)
Gross domestic product		1,167.9	1,169.5	1,118.9	1,118.9	1,144.9
Primary sector		90.6	93.2	70.6	65.2	58.2
Agriculture		83.9	85.6	64.9	59.4	52.4
	Bananas	41.1	43.7	22.4	26.5	20.1
	Other crops	21.1	19.6	20.5	13.5	12.8
	Livestock	6.7	7.7	7.2	6.9	6.6
	Fishing	13.5	13.2	13.6	11.5	11.9
	Forestry	1.6	1.4	1.2	1.1	0.9
Mining and quarrying		6.7	7.7	5.7	5.8	5.8
Secondary sector		239.8	236.4	232.2	228.6	226.0
Manufacturing		71.8	69.9	66.5	69.8	70.2
Construction		109.2	104.2	99.0	94.2	89.3
Electricity, gas, and water		58.8	62.4	66.7	64.6	66.5
Services		936.9	944.0	922.3	933.2	970.3
Wholesale and retail trade		156.2	146.1	125.2	126.8	133.1
Hotels and restaurants		151.6	155.6	139.2	138.4	151.7
Transport and communications		230.9	234.9	246.0	250.3	260.4
Banking and insurance		120.8	124.4	127.7	129.3	131.3
Real estate and housing		81.5	83.4	87.2	89.3	91.5
Government services		140.3	142.1	143.7	145.0	148.0
Other services		55.7	57.6	53.3	54.3	54.3
Less imputed banking charges		99.5	104.1	106.2	108.2	109.6
		(Annual percentage change)
Gross domestic product		2.8	0.1	-4.3	0.0	2.3
Primary sector		-15.8	2.9	-24.2	-7.6	-10.8
Agriculture		-17.6	2.0	-24.1	-8.5	-11.9
	Bananas	-25.4	6.4	-48.8	18.6	-24.2
	Other crops	-17.3	-7.4	4.6	-34.1	-5.0
	Livestock	-26.9	15.0	-6.1	-4.7	-3.2
	Fishing	29.3	-1.8	3.3	-16.0	3.7
	Forestry	-10.2	-11.0	-12.4	-14.2	-16.4
Mining and quarrying		15.3	14.0	-25.5	1.9	0.3
Secondary sector		6.9	-1.4	-1.8	-1.5	-1.1
Manufacturing		4.2	-2.6	-4.9	5.0	0.6
Construction		12.8	-4.6	-5.0	-4.8	-5.2
Electricity, gas, and water		0.2	6.1	7.0	-3.2	3.0
Services		4.4	0.8	-2.3	1.2	4.0
Wholesale and retail trade		3.0	-6.5	-14.3	1.2	5.0
Hotels and restaurants		4.2	2.7	-10.5	-0.6	9.7
Transport and communications		5.6	1.7	4.7	1.7	4.1
Banking and insurance		8.8	3.0	2.7	1.2	1.5
Real estate and housing		3.6	2.4	4.5	2.5	2.5
Government services		1.2	1.3	1.1	0.9	2.1
Other services		3.2	3.3	-7.3	1.8	0.0
Less imputed banking charges		6.1	4.7	2.0	1.9	1.3

Sources: Statistics Department of the Ministry of Finance; and Fund staff estimates.

Table 2.

St. Lucia: GDP By Economic Activity at Constant Factor Cost

						Est.
		1999	2000	2001	2002	2003
		(In millions of 1990 Eastern Caribbean dollars)
Gross domestic product		1,167.9	1,169.5	1,118.9	1,118.9	1,144.9
Primary sector		90.6	93.2	70.6	65.2	58.2
Agriculture		83.9	85.6	64.9	59.4	52.4
	Bananas	41.1	43.7	22.4	26.5	20.1
	Other crops	21.1	19.6	20.5	13.5	12.8
	Livestock	6.7	7.7	7.2	6.9	6.6
	Fishing	13.5	13.2	13.6	11.5	11.9
	Forestry	1.6	1.4	1.2	1.1	0.9
Mining and quarrying		6.7	7.7	5.7	5.8	5.8
Secondary sector		239.8	236.4	232.2	228.6	226.0
Manufacturing		71.8	69.9	66.5	69.8	70.2
Construction		109.2	104.2	99.0	94.2	89.3
Electricity, gas, and water		58.8	62.4	66.7	64.6	66.5
Services		936.9	944.0	922.3	933.2	970.3
Wholesale and retail trade		156.2	146.1	125.2	126.8	133.1
Hotels and restaurants		151.6	155.6	139.2	138.4	151.7
Transport and communications		230.9	234.9	246.0	250.3	260.4
Banking and insurance		120.8	124.4	127.7	129.3	131.3
Real estate and housing		81.5	83.4	87.2	89.3	91.5
Government services		140.3	142.1	143.7	145.0	148.0
Other services		55.7	57.6	53.3	54.3	54.3
Less imputed banking charges		99.5	104.1	106.2	108.2	109.6
		(Annual percentage change)
Gross domestic product		2.8	0.1	-4.3	0.0	2.3
Primary sector		-15.8	2.9	-24.2	-7.6	-10.8
Agriculture		-17.6	2.0	-24.1	-8.5	-11.9
	Bananas	-25.4	6.4	-48.8	18.6	-24.2
	Other crops	-17.3	-7.4	4.6	-34.1	-5.0
	Livestock	-26.9	15.0	-6.1	-4.7	-3.2
	Fishing	29.3	-1.8	3.3	-16.0	3.7
	Forestry	-10.2	-11.0	-12.4	-14.2	-16.4
Mining and quarrying		15.3	14.0	-25.5	1.9	0.3
Secondary sector		6.9	-1.4	-1.8	-1.5	-1.1
Manufacturing		4.2	-2.6	-4.9	5.0	0.6
Construction		12.8	-4.6	-5.0	-4.8	-5.2
Electricity, gas, and water		0.2	6.1	7.0	-3.2	3.0
Services		4.4	0.8	-2.3	1.2	4.0
Wholesale and retail trade		3.0	-6.5	-14.3	1.2	5.0
Hotels and restaurants		4.2	2.7	-10.5	-0.6	9.7
Transport and communications		5.6	1.7	4.7	1.7	4.1
Banking and insurance		8.8	3.0	2.7	1.2	1.5
Real estate and housing		3.6	2.4	4.5	2.5	2.5
Government services		1.2	1.3	1.1	0.9	2.1
Other services		3.2	3.3	-7.3	1.8	0.0
Less imputed banking charges		6.1	4.7	2.0	1.9	1.3

Sources: Statistics Department of the Ministry of Finance; and Fund staff estimates.

Table 3.

St. Lucia: GDP By Economic Activity at Current Factor Cost

Sources: Statistics Department of the Ministry of Finance; and Fund staff estimates.

Table 3.

St. Lucia: GDP By Economic Activity at Current Factor Cost

						Est.
		1999	2000	2001	2002	2003
		(In millions of Eastern Caribbean dollars)
Gross domestic product		1,516.8	1,553.1	1,505.8	1,524.4	1,570.1
Primary sector		120.0	122.9	108.6	103.6	90.4
Agriculture		114.0	115.0	102.5	97.6	84.4
	Bananas	57.6	52.7	31.1	40.5	30.0
	Other crops	25.2	26.5	28.5	18.6	18.1
	Livestock	7.2	10.7	11.8	12.3	9.5
	Fishing	22.0	23.3	29.5	24.7	25.7
	Forestry	2.2	1.9	1.7	1.4	1.2
Mining and quarrying		6.0	7.9	6.1	6.0	6.0
Secondary sector		299.3	296.6	286.4	275.9	277.1
Manufacturing		84.9	78.8	73.1	73.3	78.1
Construction		137.0	130.9	125.1	118.4	114.0
Electricity, gas, and water		77.3	87.0	88.2	84.2	85.0
Services		1,215.8	1,255.8	1,235.0	1,271.6	1,337.8
Wholesale and retail trade		210.8	202.6	177.8	178.4	190.5
Hotels and restaurants		200.9	213.6	194.7	193.2	213.4
Transport and communications		281.6	294.2	311.7	326.1	340.6
Banking and insurance		139.2	144.1	153.3	160.5	169.6
Real estate and housing		89.7	92.8	96.0	98.9	100.1
Government services		220.6	233.0	222.8	234.2	241.5
Other services		73.0	75.5	78.5	80.3	82.1
Less imputed banking charges		118.3	122.2	124.1	126.8	135.3
		(In percent of GDP)
Gross domestic product		100.0	100.0	100.0	100.0	100.0
Primary sector		7.9	7.9	7.2	6.8	5.8
Agriculture		7.5	7.4	6.8	6.4	5.4
	Bananas	3.8	3.4	2.1	2.7	1.9
	Other crops	1.7	1.7	1.9	1.2	1.2
	Livestock	0.5	0.7	0.8	0.8	0.6
	Fishing	1.4	1.5	2.0	1.6	1.6
	Forestry	0.1	0.1	0.1	0.1	0.1
Mining and quarrying		0.4	0.5	0.4	0.4	0.4
Secondary sector		19.7	19.1	19.0	18.1	17.7
Manufacturing		5.6	5.1	4.9	4.8	5.0
Construction		9.0	8.4	8.3	7.8	7.3
Electricity, gas, and water		5.1	5.6	5.9	5.5	5.4
Services		80.2	80.9	82.0	83.4	85.2
Wholesale and retail trade		13.9	13.0	11.8	11.7	12.1
Hotels and restaurants		13.2	13.8	12.9	12.7	13.6
Transport and communications		18.6	18.9	20.7	21.4	21.7
Banking and insurance		9.2	9.3	10.2	10.5	10.8
Real estate and housing		5.9	6.0	6.4	6.5	6.4
Government services		14.5	15.0	14.8	15.4	15.4
Other services		4.8	4.9	5.2	5.3	5.2
Less imputed banking charges		7.8	7.9	8.2	8.3	8.6

Sources: Statistics Department of the Ministry of Finance; and Fund staff estimates.

Table 3.

St. Lucia: GDP By Economic Activity at Current Factor Cost

						Est.
		1999	2000	2001	2002	2003
		(In millions of Eastern Caribbean dollars)
Gross domestic product		1,516.8	1,553.1	1,505.8	1,524.4	1,570.1
Primary sector		120.0	122.9	108.6	103.6	90.4
Agriculture		114.0	115.0	102.5	97.6	84.4
	Bananas	57.6	52.7	31.1	40.5	30.0
	Other crops	25.2	26.5	28.5	18.6	18.1
	Livestock	7.2	10.7	11.8	12.3	9.5
	Fishing	22.0	23.3	29.5	24.7	25.7
	Forestry	2.2	1.9	1.7	1.4	1.2
Mining and quarrying		6.0	7.9	6.1	6.0	6.0
Secondary sector		299.3	296.6	286.4	275.9	277.1
Manufacturing		84.9	78.8	73.1	73.3	78.1
Construction		137.0	130.9	125.1	118.4	114.0
Electricity, gas, and water		77.3	87.0	88.2	84.2	85.0
Services		1,215.8	1,255.8	1,235.0	1,271.6	1,337.8
Wholesale and retail trade		210.8	202.6	177.8	178.4	190.5
Hotels and restaurants		200.9	213.6	194.7	193.2	213.4
Transport and communications		281.6	294.2	311.7	326.1	340.6
Banking and insurance		139.2	144.1	153.3	160.5	169.6
Real estate and housing		89.7	92.8	96.0	98.9	100.1
Government services		220.6	233.0	222.8	234.2	241.5
Other services		73.0	75.5	78.5	80.3	82.1
Less imputed banking charges		118.3	122.2	124.1	126.8	135.3
		(In percent of GDP)
Gross domestic product		100.0	100.0	100.0	100.0	100.0
Primary sector		7.9	7.9	7.2	6.8	5.8
Agriculture		7.5	7.4	6.8	6.4	5.4
	Bananas	3.8	3.4	2.1	2.7	1.9
	Other crops	1.7	1.7	1.9	1.2	1.2
	Livestock	0.5	0.7	0.8	0.8	0.6
	Fishing	1.4	1.5	2.0	1.6	1.6
	Forestry	0.1	0.1	0.1	0.1	0.1
Mining and quarrying		0.4	0.5	0.4	0.4	0.4
Secondary sector		19.7	19.1	19.0	18.1	17.7
Manufacturing		5.6	5.1	4.9	4.8	5.0
Construction		9.0	8.4	8.3	7.8	7.3
Electricity, gas, and water		5.1	5.6	5.9	5.5	5.4
Services		80.2	80.9	82.0	83.4	85.2
Wholesale and retail trade		13.9	13.0	11.8	11.7	12.1
Hotels and restaurants		13.2	13.8	12.9	12.7	13.6
Transport and communications		18.6	18.9	20.7	21.4	21.7
Banking and insurance		9.2	9.3	10.2	10.5	10.8
Real estate and housing		5.9	6.0	6.4	6.5	6.4
Government services		14.5	15.0	14.8	15.4	15.4
Other services		4.8	4.9	5.2	5.3	5.2
Less imputed banking charges		7.8	7.9	8.2	8.3	8.6

Sources: Statistics Department of the Ministry of Finance; and Fund staff estimates.

Table 4.

St. Lucia: Expenditure on GDP at Current Prices

Sources: St. Lucian authorities; ECCB; and Fund staff estimates and projections.

^{^1/}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.

Table 4.

St. Lucia: Expenditure on GDP at Current Prices

							Est.
			1999	2000	2001	2002	2003
			(In millions of Eastern Caribbean dollars)
Consumption expenditure			1,476.5	1,523.9	1,475.8	1,519.5	1,585.3
Public sector ^1/			408.7	430.1	489.5	492.1	516.3
Private sector			1,067.8	1,093.8	986.3	1,027.4	1,069.0
Gross domestic investment			500.5	490.7	459.4	415.9	539.1
Public sector ^1/			191.2	175.1	152.3	181.4	174.0
	Of which
		Central government	158.6	142.2	134.5	168.4	157.7
Private sector			309.3	315.6	306.1	234.5	365.1
Gross domestic expenditure			1,976.9	2,014.6	1,935.2	1,935.4	2,124.4
Balance of goods and nonfactor services			-170.5	-170.0	-169.5	-108.8	-253.9
Exports of goods and nonfactor services			1,031.0	981.0	961.0	845.0	1,042.2
Imports of goods and nonfactor services			1,202.0	1,151.0	1,131.0	954.0	1,296.2
GDP at market prices			1,806.4	1,844.7	1,765.7	1,826.6	1,870.5
Net factor income			-103.8	-116.4	-114.9	-117.2	-132.4
GNP at market prices			1,702.6	1,728.3	1,650.9	1,709.3	1,738.1
			(In percent of GDP)
Consumption expenditure			81.7	82.6	83.6	83.2	84.8
Public sector			22.6	23.3	27.7	26.9	27.6
Private sector			59.1	59.3	55.9	56.2	57.2
Gross domestic investment			27.7	26.6	26.0	22.8	28.8
Public sector			10.6	9.5	8.7	9.9	9.3
	Of which
		Central government	8.8	7.7	7.6	9.2	8.4
Private sector			17.1	17.1	17.3	12.8	19.5
Gross domestic expenditure			109.4	109.2	109.6	106.0	113.6
Balance of goods and nonfactor services			-9.4	-9.2	-9.6	-6.0	-13.6
Exports of goods and nonfactor services			57.1	53.2	54.4	46.2	55.7
Imports of goods and nonfactor services			66.5	62.4	64.0	55.2	69.3
GDP at market prices			100.0	100.0	100.0	100.0	100.0
Net indirect taxes			16.0	15.8	14.7	16.5	16.1
GDP at factor cost			84.0	84.2	85.3	83.5	83.9
Memorandum item:
GDP at market price (annual percentage change)			6.1	2.1	-4.3	3.5	2.4

Sources: St. Lucian authorities; ECCB; and Fund staff estimates and projections.

Table 4.

St. Lucia: Expenditure on GDP at Current Prices

							Est.
			1999	2000	2001	2002	2003
			(In millions of Eastern Caribbean dollars)
Consumption expenditure			1,476.5	1,523.9	1,475.8	1,519.5	1,585.3
Public sector ^1/			408.7	430.1	489.5	492.1	516.3
Private sector			1,067.8	1,093.8	986.3	1,027.4	1,069.0
Gross domestic investment			500.5	490.7	459.4	415.9	539.1
Public sector ^1/			191.2	175.1	152.3	181.4	174.0
	Of which
		Central government	158.6	142.2	134.5	168.4	157.7
Private sector			309.3	315.6	306.1	234.5	365.1
Gross domestic expenditure			1,976.9	2,014.6	1,935.2	1,935.4	2,124.4
Balance of goods and nonfactor services			-170.5	-170.0	-169.5	-108.8	-253.9
Exports of goods and nonfactor services			1,031.0	981.0	961.0	845.0	1,042.2
Imports of goods and nonfactor services			1,202.0	1,151.0	1,131.0	954.0	1,296.2
GDP at market prices			1,806.4	1,844.7	1,765.7	1,826.6	1,870.5
Net factor income			-103.8	-116.4	-114.9	-117.2	-132.4
GNP at market prices			1,702.6	1,728.3	1,650.9	1,709.3	1,738.1
			(In percent of GDP)
Consumption expenditure			81.7	82.6	83.6	83.2	84.8
Public sector			22.6	23.3	27.7	26.9	27.6
Private sector			59.1	59.3	55.9	56.2	57.2
Gross domestic investment			27.7	26.6	26.0	22.8	28.8
Public sector			10.6	9.5	8.7	9.9	9.3
	Of which
		Central government	8.8	7.7	7.6	9.2	8.4
Private sector			17.1	17.1	17.3	12.8	19.5
Gross domestic expenditure			109.4	109.2	109.6	106.0	113.6
Balance of goods and nonfactor services			-9.4	-9.2	-9.6	-6.0	-13.6
Exports of goods and nonfactor services			57.1	53.2	54.4	46.2	55.7
Imports of goods and nonfactor services			66.5	62.4	64.0	55.2	69.3
GDP at market prices			100.0	100.0	100.0	100.0	100.0
Net indirect taxes			16.0	15.8	14.7	16.5	16.1
GDP at factor cost			84.0	84.2	85.3	83.5	83.9
Memorandum item:
GDP at market price (annual percentage change)			6.1	2.1	-4.3	3.5	2.4

Sources: St. Lucian authorities; ECCB; and Fund staff estimates and projections.

Table 5.

St. Lucia: Savings and Investment

Sources: St. Lucian authorities; ECCB; and Fund staff estimates and projections.

Table 5.

St. Lucia: Savings and Investment

							Est.
			1999	2000	2001	2002	2003
			(In millions of Eastern Caribbean dollars)
Gross national saving			274.8	261.7	300.0	186.7	190.5
Public ^1/			133.6	130.1	68.5	26.8	19.7
Private			141.2	131.6	231.5	159.8	170.8
External saving			225.6	229.0	159.4	229.1	348.7
Total saving			500.5	490.7	459.4	415.8	539.1
Gross domestic investment			500.5	490.7	459.4	415.8	539.1
Public sector ^1/			191.2	175.1	153.3	181.4	174.0
	Of which
		Central government	158.6	142.2	134.5	168.4	157.7
Private Sector			309.3	315.6	306.1	234.4	365.1
			(In percent of GDP)
Gross national saving			15.2	14.2	17.0	10.2	10.2
Public			7.4	7.1	3.9	1.5	1.1
Private			7.8	7.1	13.1	8.8	9.1
External saving			12.5	12.4	9.0	12.5	18.6
Total saving			27.7	26.6	26.0	22.8	28.8
Gross domestic investment			27.7	26.6	26.0	22.8	28.8
Public sector			10.6	9.5	8.7	9.9	9.3
	Of which
		Central government	8.8	7.7	7.6	9.2	8.4
Private sector			17.1	17.1	17.3	12.8	19.5

Sources: St. Lucian authorities; ECCB; and Fund staff estimates and projections.

Table 5.

St. Lucia: Savings and Investment

							Est.
			1999	2000	2001	2002	2003
			(In millions of Eastern Caribbean dollars)
Gross national saving			274.8	261.7	300.0	186.7	190.5
Public ^1/			133.6	130.1	68.5	26.8	19.7
Private			141.2	131.6	231.5	159.8	170.8
External saving			225.6	229.0	159.4	229.1	348.7
Total saving			500.5	490.7	459.4	415.8	539.1
Gross domestic investment			500.5	490.7	459.4	415.8	539.1
Public sector ^1/			191.2	175.1	153.3	181.4	174.0
	Of which
		Central government	158.6	142.2	134.5	168.4	157.7
Private Sector			309.3	315.6	306.1	234.4	365.1
			(In percent of GDP)
Gross national saving			15.2	14.2	17.0	10.2	10.2
Public			7.4	7.1	3.9	1.5	1.1
Private			7.8	7.1	13.1	8.8	9.1
External saving			12.5	12.4	9.0	12.5	18.6
Total saving			27.7	26.6	26.0	22.8	28.8
Gross domestic investment			27.7	26.6	26.0	22.8	28.8
Public sector			10.6	9.5	8.7	9.9	9.3
	Of which
		Central government	8.8	7.7	7.6	9.2	8.4
Private sector			17.1	17.1	17.3	12.8	19.5

Sources: St. Lucian authorities; ECCB; and Fund staff estimates and projections.

Table 6.

St. Lucia: Selected Data on the Banana Industry

Sources: Windward Islands Banana Development and Export Company (WIBDECO); and Fund staff estimates.

Table 6.

St. Lucia: Selected Data on the Banana Industry

						Est.
		1999	2000	2001	2002	2003
Banana exports (000 tons)		65.2	70.3	34.0	48.2	31.4
Banana export receipts
	(in millions of EC$)	87.0	86.0	41.2	58.6	41.6
Export unit price
	(in US$/000 tons)	493.8	453.0	447.8	450.7	487.3
		(In percent)
Memorandum items:
Banana exports/GDP		4.8	4.7	2.3	3.2	2.2
Banana exports/goods exports		52.9	60.2	28.2	31.1	23.1
Banana exports/exports of goods and NFS		8.4	8.3	4.3	6.3	4.0

Sources: Windward Islands Banana Development and Export Company (WIBDECO); and Fund staff estimates.

Table 6.

St. Lucia: Selected Data on the Banana Industry

						Est.
		1999	2000	2001	2002	2003
Banana exports (000 tons)		65.2	70.3	34.0	48.2	31.4
Banana export receipts
	(in millions of EC$)	87.0	86.0	41.2	58.6	41.6
Export unit price
	(in US$/000 tons)	493.8	453.0	447.8	450.7	487.3
		(In percent)
Memorandum items:
Banana exports/GDP		4.8	4.7	2.3	3.2	2.2
Banana exports/goods exports		52.9	60.2	28.2	31.1	23.1
Banana exports/exports of goods and NFS		8.4	8.3	4.3	6.3	4.0

Sources: Windward Islands Banana Development and Export Company (WIBDECO); and Fund staff estimates.

Table 7.

St. Lucia: Selected Industrial Production

(Values in thousands of Eastern Caribbean dollars; quantity as indicated)

Source: Statistics Department of the Ministry of Finance.

Table 7.

St. Lucia: Selected Industrial Production

(Values in thousands of Eastern Caribbean dollars; quantity as indicated)

					Est.
	1999	2000	2001	2002	2003
Copra
Value	2,924	1,899	2,124	1,270	1,308
Tons	2,900	1,884	2,189	1,138	1,162
Unrefined coconut oil
Value	3,283	2,552	3,624	70	0
Liters (000’s)	1,379	1,072	1304	734	0
Refined coconut oil
Value	3,526	3,378	2,591	151	177
Liters (000’s)	888	851	725	2,040	2,288
Coconut meal
Value	316	246	234	145	145
Kgs. (000’s)	717	1,226	1,172	727	829
Food, beverages, and tobacco
Value	53,661	49,254	51,769	59,606	64,158
Paper products and cardboard boxes
Value	23,265	22,098	16,548	21,210	15,125
Quantity (000’s)	23,815	19,034	7,977	14,164	7,928
Electrical products
Value	23,753	31,412	18,342	26,840	20,846
Quantity (000’s)	23,174	27,802	19,110	20,824	15,551
Textile goods
Value	3,450	2,475	1,801	4,762	7,900
Quantity (000’s)	174,888	177,413	152,247	111,871	81,815
Wearing apparel
Value	7,979	3,582	1,862	1,465	956
Doz. Pcs. (000’s)	71	24	21	17	11

Source: Statistics Department of the Ministry of Finance.

Table 7.

St. Lucia: Selected Industrial Production

(Values in thousands of Eastern Caribbean dollars; quantity as indicated)

					Est.
	1999	2000	2001	2002	2003
Copra
Value	2,924	1,899	2,124	1,270	1,308
Tons	2,900	1,884	2,189	1,138	1,162
Unrefined coconut oil
Value	3,283	2,552	3,624	70	0
Liters (000’s)	1,379	1,072	1304	734	0
Refined coconut oil
Value	3,526	3,378	2,591	151	177
Liters (000’s)	888	851	725	2,040	2,288
Coconut meal
Value	316	246	234	145	145
Kgs. (000’s)	717	1,226	1,172	727	829
Food, beverages, and tobacco
Value	53,661	49,254	51,769	59,606	64,158
Paper products and cardboard boxes
Value	23,265	22,098	16,548	21,210	15,125
Quantity (000’s)	23,815	19,034	7,977	14,164	7,928
Electrical products
Value	23,753	31,412	18,342	26,840	20,846
Quantity (000’s)	23,174	27,802	19,110	20,824	15,551
Textile goods
Value	3,450	2,475	1,801	4,762	7,900
Quantity (000’s)	174,888	177,413	152,247	111,871	81,815
Wearing apparel
Value	7,979	3,582	1,862	1,465	956
Doz. Pcs. (000’s)	71	24	21	17	11

Source: Statistics Department of the Ministry of Finance.

Table 8.

St. Lucia: Consumer Price Index

(April 1984=100)

Source: Statistics Department of the Ministry of Finance.

Table 8.

St. Lucia: Consumer Price Index

(April 1984=100)

					Est.
	1999	2000	2001	2002	2003
	(Period averages)
All items	161.2	166.9	170.4	170.0	171.8
Food	168.0	170.4	175.5	173.4	177.0
Beverages and tobacco	143.1	147.0	153.0	157.0	159.2
Clothing and footwear	219.6	236.4	236.9	237.0	237.0
Housing	112.6	110.4	110.8	110.8	110.7
Fuel and light	124.1	133.0	133.8	131.9	135.6
Furniture, household equipment	168.9	178.2	181.4	179.2	178.0
Health care	215.0	222.1	225.3	238.8	236.1
Transport and communication	164.4	172.4	177.7	184.0	184.4
Recreation and education	196.0	246.3	247.0	246.6	245.8
Miscellaneous goods and services	145.8	152.3	152.9	154.2	153.9
	(Annual percentage change)
All items	3.5	3.6	2.1	-0.2	1.0
Food	2.9	1.4	3.0	-1.2	2.1
Beverages and tobacco	0.9	2.7	4.1	2.6	1.4
Clothing and footwear	5.5	7.7	0.2	0.0	0.0
Housing	0.0	-2.0	0.4	0.0	-0.1
Fuel and light	0.6	7.2	0.6	-1.4	2.8
Furniture, household equipment	6.0	5.5	1.8	-1.2	-0.7
Health care	8.3	3.3	1.4	6.0	-1.1
Transport and communication	0.2	4.9	3.1	3.5	0.2
Recreation and education	13.4	25.7	0.3	-0.2	-0.3
Miscellaneous goods and services	5.5	4.5	0.4	0.9	-0.2
	(End of period)
All items	167.7	168.3	171.8	170.7	171.5
Food	175.8	171.1	177.2	174.0	177.1
Beverages and tobacco	145.0	147.6	155.3	158.9	159.2
Clothing and footwear	236.1	236.4	237.0	237.0	237.0
Housing	112.6	110.8	110.8	110.7	110.7
Fuel and light	128.5	140.5	130.1	134.1	135.0
Furniture, household equipment	177.8	181.4	181.4	178.0	178.0
Health care	219.6	224.9	249.1	246.7	237.0
Transport and communication	164.9	177.1	178.8	188.5	178.5
Recreation and education	210.0	247.0	247.0	245.3	245.8
Miscellaneous goods and services	151.1	152.9	155.6	153.1	154.6
	(Percentage change during year)
All items	6.1	0.4	2.1	-0.6	0.5
Food	5.2	-2.7	3.6	-1.8	1.8
Beverages and tobacco	2.7	1.8	5.2	2.3	0.2
Clothing and footwear	14.0	0.1	0.3	0.0	0.0
Housing	0.0	-1.6	0.0	-0.1	0.0
Fuel and light	5.8	9.3	-7.4	3.1	0.7
Furniture, household equipment	9.1	2.0	0.0	-1.9	0.0
Health care	6.1	2.4	10.8	-1.0	-3.9
Transport and communication	0.5	7.4	1.0	5.4	-5.3
Recreation and education	19.4	17.6	0.0	-0.7	0.2
Miscellaneous goods and services	7.3	1.2	1.8	-1.6	1.0

Source: Statistics Department of the Ministry of Finance.

Table 8.

St. Lucia: Consumer Price Index

(April 1984=100)

					Est.
	1999	2000	2001	2002	2003
	(Period averages)
All items	161.2	166.9	170.4	170.0	171.8
Food	168.0	170.4	175.5	173.4	177.0
Beverages and tobacco	143.1	147.0	153.0	157.0	159.2
Clothing and footwear	219.6	236.4	236.9	237.0	237.0
Housing	112.6	110.4	110.8	110.8	110.7
Fuel and light	124.1	133.0	133.8	131.9	135.6
Furniture, household equipment	168.9	178.2	181.4	179.2	178.0
Health care	215.0	222.1	225.3	238.8	236.1
Transport and communication	164.4	172.4	177.7	184.0	184.4
Recreation and education	196.0	246.3	247.0	246.6	245.8
Miscellaneous goods and services	145.8	152.3	152.9	154.2	153.9
	(Annual percentage change)
All items	3.5	3.6	2.1	-0.2	1.0
Food	2.9	1.4	3.0	-1.2	2.1
Beverages and tobacco	0.9	2.7	4.1	2.6	1.4
Clothing and footwear	5.5	7.7	0.2	0.0	0.0
Housing	0.0	-2.0	0.4	0.0	-0.1
Fuel and light	0.6	7.2	0.6	-1.4	2.8
Furniture, household equipment	6.0	5.5	1.8	-1.2	-0.7
Health care	8.3	3.3	1.4	6.0	-1.1
Transport and communication	0.2	4.9	3.1	3.5	0.2
Recreation and education	13.4	25.7	0.3	-0.2	-0.3
Miscellaneous goods and services	5.5	4.5	0.4	0.9	-0.2
	(End of period)
All items	167.7	168.3	171.8	170.7	171.5
Food	175.8	171.1	177.2	174.0	177.1
Beverages and tobacco	145.0	147.6	155.3	158.9	159.2
Clothing and footwear	236.1	236.4	237.0	237.0	237.0
Housing	112.6	110.8	110.8	110.7	110.7
Fuel and light	128.5	140.5	130.1	134.1	135.0
Furniture, household equipment	177.8	181.4	181.4	178.0	178.0
Health care	219.6	224.9	249.1	246.7	237.0
Transport and communication	164.9	177.1	178.8	188.5	178.5
Recreation and education	210.0	247.0	247.0	245.3	245.8
Miscellaneous goods and services	151.1	152.9	155.6	153.1	154.6
	(Percentage change during year)
All items	6.1	0.4	2.1	-0.6	0.5
Food	5.2	-2.7	3.6	-1.8	1.8
Beverages and tobacco	2.7	1.8	5.2	2.3	0.2
Clothing and footwear	14.0	0.1	0.3	0.0	0.0
Housing	0.0	-1.6	0.0	-0.1	0.0
Fuel and light	5.8	9.3	-7.4	3.1	0.7
Furniture, household equipment	9.1	2.0	0.0	-1.9	0.0
Health care	6.1	2.4	10.8	-1.0	-3.9
Transport and communication	0.5	7.4	1.0	5.4	-5.3
Recreation and education	19.4	17.6	0.0	-0.7	0.2
Miscellaneous goods and services	7.3	1.2	1.8	-1.6	1.0

Source: Statistics Department of the Ministry of Finance.

Table 9.

St. Lucia: Operations of the Consolidated Public Sector ^1/ ^2/

(In percent of GDP)

Sources: St. Lucian authorities; ECCB; and Fund staff estimates

^{^1/}Data are for fiscal years beginning April 1.

^{^2/}The public sector comprises the central government, the Castries City Council, The National Insurance Corporation, and four nonfinancial public enterprises.

^{^3/}Refers to Central Government, the Castries City Council and the National Insurance Corporation only, except for interest payments which refer to public enterprises as well.

Table 9.

St. Lucia: Operations of the Consolidated Public Sector ^1/ ^2/

(In percent of GDP)

			1998/99	1999/00	2000/01	2001/02	2002/03
Total revenue and grants			38.7	39.3	38.0	36.3	36.7
Current revenue			35.1	35.7	37.3	34.6	34.7
	Tax revenue		23.6	23.1	23.8	21.6	22.1
	Non-tax revenue		6.8	7.4	8.1	7.6	7.5
	Operational surplus of public enterprises		4.7	5.2	5.4	5.4	5.2
Capital revenue			0.4	0.2	0.2	0.2	0.0
Capital grants			3.3	3.4	0.6	1.5	2.0
Total expenditure			33.7	36.7	37.4	38.0	41.2
Current expenditure ^3/			25.3	25.0	27.1	29.0	30.4
	Of which
		Wages and salaries	13.2	13.4	13.8	14.3	13.9
		Interest	1.8	1.9	2.3	3.0	3.0
Capital expenditure			8.4	11.7	10.3	9.0	10.8
	Central government		7.8	9.2	7.3	7.6	9.8
	Rest of general government		0.0	0.3	1.3	0.6	0.3
	Public enterprises		0.5	2.2	1.7	0.8	0.7
Current balance			9.7	10.7	10.2	5.6	4.3
Central government			6.3	6.1	5.5	1.6	0.3
Rest of general government			3.0	2.9	3.3	2.8	3.2
Public enterprises			0.5	1.6	1.5	1.3	0.8
Overall balance before grants			1.7	-0.8	0.0	-3.2	-6.4
Overall balance after grants			5.0	2.6	0.6	-1.7	-4.4
	of which:
		Central government	2.0	0.5	-1.3	-4.4	-7.5
		National Insurance Corporation	2.9	2.6	2.0	2.2	2.9
		Public enterprises	0.0	-0.5	0.0	0.5	0.2

Sources: St. Lucian authorities; ECCB; and Fund staff estimates

^{^1/}Data are for fiscal years beginning April 1.

^{^2/}The public sector comprises the central government, the Castries City Council, The National Insurance Corporation, and four nonfinancial public enterprises.

^{^3/}Refers to Central Government, the Castries City Council and the National Insurance Corporation only, except for interest payments which refer to public enterprises as well.

Table 9.

St. Lucia: Operations of the Consolidated Public Sector ^1/ ^2/

(In percent of GDP)

			1998/99	1999/00	2000/01	2001/02	2002/03
Total revenue and grants			38.7	39.3	38.0	36.3	36.7
Current revenue			35.1	35.7	37.3	34.6	34.7
	Tax revenue		23.6	23.1	23.8	21.6	22.1
	Non-tax revenue		6.8	7.4	8.1	7.6	7.5
	Operational surplus of public enterprises		4.7	5.2	5.4	5.4	5.2
Capital revenue			0.4	0.2	0.2	0.2	0.0
Capital grants			3.3	3.4	0.6	1.5	2.0
Total expenditure			33.7	36.7	37.4	38.0	41.2
Current expenditure ^3/			25.3	25.0	27.1	29.0	30.4
	Of which
		Wages and salaries	13.2	13.4	13.8	14.3	13.9
		Interest	1.8	1.9	2.3	3.0	3.0
Capital expenditure			8.4	11.7	10.3	9.0	10.8
	Central government		7.8	9.2	7.3	7.6	9.8
	Rest of general government		0.0	0.3	1.3	0.6	0.3
	Public enterprises		0.5	2.2	1.7	0.8	0.7
Current balance			9.7	10.7	10.2	5.6	4.3
Central government			6.3	6.1	5.5	1.6	0.3
Rest of general government			3.0	2.9	3.3	2.8	3.2
Public enterprises			0.5	1.6	1.5	1.3	0.8
Overall balance before grants			1.7	-0.8	0.0	-3.2	-6.4
Overall balance after grants			5.0	2.6	0.6	-1.7	-4.4
	of which:
		Central government	2.0	0.5	-1.3	-4.4	-7.5
		National Insurance Corporation	2.9	2.6	2.0	2.2	2.9
		Public enterprises	0.0	-0.5	0.0	0.5	0.2

Sources: St. Lucian authorities; ECCB; and Fund staff estimates

^{^1/}Data are for fiscal years beginning April 1.

^{^2/}The public sector comprises the central government, the Castries City Council, The National Insurance Corporation, and four nonfinancial public enterprises.

^{^3/}Refers to Central Government, the Castries City Council and the National Insurance Corporation only, except for interest payments which refer to public enterprises as well.

Table 10.

St. Lucia: Operations of the Central Government ^1/

(In percent of GDP)

Sources: St. Lucian authorities; ECCB; and Fund staff estimates

^{^1/}Data are for fiscal years beginning April 1.

Table 10.

St. Lucia: Operations of the Central Government ^1/

(In percent of GDP)

			1998/99	1999/00	2000/01	2001/02	2002/03
Total revenue and grants			28.6	29.2	27.0	25.7	26.0
Current revenue			25.0	25.6	26.4	24.1	24.0
Tax revenue			23.1	23.1	23.8	21.6	22.1
Taxes on income and profits			6.1	7.0	7.6	6.6	5.7
Taxes on property			0.1	0.0	0.1	0.2	0.2
Taxes on goods and services			10.9	9.4	8.3	8.6	9.5
	Consumption taxes		8.1	6.8	5.5	5.9	6.1
		Imports	7.4	6.2	4.9	5.6	5.9
		Domestic goods	0.7	0.6	0.6	0.3	0.3
	Hotel occupancy tax		1.0	1.0	1.3	1.0	1.1
	Excises		0.1	0.3	0.2	0.3	0.3
	Other		1.5	1.3	1.3	1.3	2.0
Taxes on international trade			6.1	6.6	7.8	6.1	6.6
	Of which
		Import duties	3.9	3.9	3.5	2.9	3.1
		Service charge (imports)	1.9	1.9	1.8	1.6	1.6
Nontax revenue			2.0	2.6	2.7	2.5	2.0
Capital revenue			0.3	0.1	0.0	0.2	0.0
Capital grants			3.2	3.4	0.6	1.5	2.0
Total expenditure and net lending			26.8	28.7	28.3	30.1	33.5
Current expenditure			19.1	19.5	21.0	22.5	23.7
Wages and salaries			10.4	10.9	11.5	11.9	11.5
NIS contributions and retirement			1.3	1.5	1.9	1.9	1.9
Goods and services			3.9	3.9	4.1	4.1	4.1
Transfers			2.3	1.9	1.9	2.2	3.7
Interest payments			1.2	1.3	1.6	2.4	2.5
	Domestic		0.8	0.9	1.2	1.3	1.2
	External		0.4	0.4	0.5	1.1	1.3
Capital expenditure and net lending			7.7	9.2	7.3	7.6	9.8
Current balance			6.0	6.1	5.5	1.6	0.3
Overall balance before grants			-1.5	-2.9	-1.9	-5.9	-9.5
Overall balance after grants			1.7	0.5	-1.3	-4.4	-7.5
Memorandum item:
Nominal GDP (in millions of EC dollars)			1,742.4	1,816.0	1,825.0	1,780.9	1,837.6

Sources: St. Lucian authorities; ECCB; and Fund staff estimates

^{^1/}Data are for fiscal years beginning April 1.

Table 10.

St. Lucia: Operations of the Central Government ^1/

(In percent of GDP)

			1998/99	1999/00	2000/01	2001/02	2002/03
Total revenue and grants			28.6	29.2	27.0	25.7	26.0
Current revenue			25.0	25.6	26.4	24.1	24.0
Tax revenue			23.1	23.1	23.8	21.6	22.1
Taxes on income and profits			6.1	7.0	7.6	6.6	5.7
Taxes on property			0.1	0.0	0.1	0.2	0.2
Taxes on goods and services			10.9	9.4	8.3	8.6	9.5
	Consumption taxes		8.1	6.8	5.5	5.9	6.1
		Imports	7.4	6.2	4.9	5.6	5.9
		Domestic goods	0.7	0.6	0.6	0.3	0.3
	Hotel occupancy tax		1.0	1.0	1.3	1.0	1.1
	Excises		0.1	0.3	0.2	0.3	0.3
	Other		1.5	1.3	1.3	1.3	2.0
Taxes on international trade			6.1	6.6	7.8	6.1	6.6
	Of which
		Import duties	3.9	3.9	3.5	2.9	3.1
		Service charge (imports)	1.9	1.9	1.8	1.6	1.6
Nontax revenue			2.0	2.6	2.7	2.5	2.0
Capital revenue			0.3	0.1	0.0	0.2	0.0
Capital grants			3.2	3.4	0.6	1.5	2.0
Total expenditure and net lending			26.8	28.7	28.3	30.1	33.5
Current expenditure			19.1	19.5	21.0	22.5	23.7
Wages and salaries			10.4	10.9	11.5	11.9	11.5
NIS contributions and retirement			1.3	1.5	1.9	1.9	1.9
Goods and services			3.9	3.9	4.1	4.1	4.1
Transfers			2.3	1.9	1.9	2.2	3.7
Interest payments			1.2	1.3	1.6	2.4	2.5
	Domestic		0.8	0.9	1.2	1.3	1.2
	External		0.4	0.4	0.5	1.1	1.3
Capital expenditure and net lending			7.7	9.2	7.3	7.6	9.8
Current balance			6.0	6.1	5.5	1.6	0.3
Overall balance before grants			-1.5	-2.9	-1.9	-5.9	-9.5
Overall balance after grants			1.7	0.5	-1.3	-4.4	-7.5
Memorandum item:
Nominal GDP (in millions of EC dollars)			1,742.4	1,816.0	1,825.0	1,780.9	1,837.6

Sources: St. Lucian authorities; ECCB; and Fund staff estimates

^{^1/}Data are for fiscal years beginning April 1.

Table 11.

St. Lucia: Operations of the Central Government ^1/

(In million of Eastern Caribbean dollars)

Sources: Ministry of Finance and ECCB.

^{^1/}Data are for fiscal years beginning April 1.

Table 11.

St. Lucia: Operations of the Central Government ^1/

(In million of Eastern Caribbean dollars)

			1998/99	1999/00	2000/01	2001/02	2002/03
Total revenue and grants			497.8	529.9	493.6	457.9	478.1
Current revenue			436.4	465.4	482.7	428.9	441.8
Tax revenue			402.1	418.7	433.6	384.9	405.6
Taxes on income and profits			105.4	127.0	138.8	118.4	105.5
Taxes on property			1.0	0.8	1.6	4.4	4.5
Taxes on goods and services			189.4	170.6	151.0	152.8	174.9
	Consumption taxes		140.7	122.8	100.8	105.4	112.7
		Imports	128.2	112.2	90.3	100.1	107.8
		Domestic goods	12.5	10.6	10.5	5.3	4.9
	Hotel occupancy tax		17.2	18.0	22.9	18.5	19.5
	Excise duty		1.1	6.3	4.5	5.5	6.4
	Other		25.8	23.5	22.8	23.5	36.3
Taxes on international trade and transactions			106.3	120.3	142.2	109.3	120.8
		Of which
	Import duties		68.1	71.4	64.2	51.7	57.4
	Service charge (imports)		32.8	34.7	33.4	27.9	30.2
Nontax revenue			34.3	46.7	49.1	43.9	36.2
Capital revenue			5.1	2.4	0.1	2.7	0.0
Capital grants			56.2	62.1	10.8	26.3	36.3
Total expenditure and net lending			467.5	521.0	517.3	535.8	615.6
Current expenditure			332.6	354.5	383.2	401.2	436.0
	Wages and salaries		182.0	198.3	209.5	212.7	211.6
	NIS contributions and retirement		22.9	27.4	35.6	34.3	35.2
	Goods and services		66.6	71.0	74.0	72.8	75.6
	Interest		21.5	23.6	29.5	42.7	45.4
		Domestic	14.3	15.8	21.3	22.5	21.9
		Foreign	7.2	7.9	8.2	20.1	23.5
	Transfers		39.6	34.1	34.6	38.7	68.2
Capital expenditure and net lending			134.9	166.5	134.1	134.6	179.6
Current balance			103.9	110.9	99.5	27.7	5.8
Overall balance before grants			-26.0	-53.1	-34.5	-104.2	-173.8
Overall balance			30.2	8.9	-23.7	-77.9	-137.5

Sources: Ministry of Finance and ECCB.

^{^1/}Data are for fiscal years beginning April 1.

Table 11.

St. Lucia: Operations of the Central Government ^1/

(In million of Eastern Caribbean dollars)

			1998/99	1999/00	2000/01	2001/02	2002/03
Total revenue and grants			497.8	529.9	493.6	457.9	478.1
Current revenue			436.4	465.4	482.7	428.9	441.8
Tax revenue			402.1	418.7	433.6	384.9	405.6
Taxes on income and profits			105.4	127.0	138.8	118.4	105.5
Taxes on property			1.0	0.8	1.6	4.4	4.5
Taxes on goods and services			189.4	170.6	151.0	152.8	174.9
	Consumption taxes		140.7	122.8	100.8	105.4	112.7
		Imports	128.2	112.2	90.3	100.1	107.8
		Domestic goods	12.5	10.6	10.5	5.3	4.9
	Hotel occupancy tax		17.2	18.0	22.9	18.5	19.5
	Excise duty		1.1	6.3	4.5	5.5	6.4
	Other		25.8	23.5	22.8	23.5	36.3
Taxes on international trade and transactions			106.3	120.3	142.2	109.3	120.8
		Of which
	Import duties		68.1	71.4	64.2	51.7	57.4
	Service charge (imports)		32.8	34.7	33.4	27.9	30.2
Nontax revenue			34.3	46.7	49.1	43.9	36.2
Capital revenue			5.1	2.4	0.1	2.7	0.0
Capital grants			56.2	62.1	10.8	26.3	36.3
Total expenditure and net lending			467.5	521.0	517.3	535.8	615.6
Current expenditure			332.6	354.5	383.2	401.2	436.0
	Wages and salaries		182.0	198.3	209.5	212.7	211.6
	NIS contributions and retirement		22.9	27.4	35.6	34.3	35.2
	Goods and services		66.6	71.0	74.0	72.8	75.6
	Interest		21.5	23.6	29.5	42.7	45.4
		Domestic	14.3	15.8	21.3	22.5	21.9
		Foreign	7.2	7.9	8.2	20.1	23.5
	Transfers		39.6	34.1	34.6	38.7	68.2
Capital expenditure and net lending			134.9	166.5	134.1	134.6	179.6
Current balance			103.9	110.9	99.5	27.7	5.8
Overall balance before grants			-26.0	-53.1	-34.5	-104.2	-173.8
Overall balance			30.2	8.9	-23.7	-77.9	-137.5

Sources: Ministry of Finance and ECCB.

^{^1/}Data are for fiscal years beginning April 1.

Table 12.

St. Lucia: Consolidated Accounts of the Nonfinancial Public Enterprises

(In percent of GDP)

Sources: Individual public enterprises; and Fund staff estimates.

^{^1/}Fiscal years beginning April 1.

^{^2/}Fiscal year begining January 1.

Table 12.

St. Lucia: Consolidated Accounts of the Nonfinancial Public Enterprises

(In percent of GDP)

							Est.
			1998/99	1999/00	2000/01	2001/02	2002/03
Total revenue and grants			4.8	5.8	5.6	5.5	5.2
Current revenue			4.7	5.2	5.4	5.4	5.2
Capital revenue			0.1	0.1	0.2	0.1	0.0
Current transfers from Central Government			0.0	0.5	0.0	0.0	0.0
Capital transfers from Central Government			0.0	0.0	0.0	0.0	0.0
Capital grants from abroad			0.0	0.0	0.0	0.0	0.0
Total expenditure			4.8	6.3	5.6	4.9	5.0
Current expenditure			4.2	4.1	3.9	4.1	4.4
	Of which
		Interest	0.5	0.6	0.6	0.6	0.5
Capital expenditure			0.5	2.2	1.7	0.8	0.7
Operational balance			1.0	1.7	2.1	1.9	1.3
Current balance			0.5	1.6	1.2	1.3	0.8
Overall balance			0.0	-0.5	0.0	0.5	0.2
			Air and Sea Ports Authority ^1/
Total revenue and grants			2.9	3.1	2.8	2.7	2.5
Total expenditure			2.5	3.6	3.0	2.5	3.0
Operational balance			1.2	1.6	1.3	1.1	0.4
Current balance			0.9	1.3	1.0	0.8	0.2
Overall balance			0.4	-0.6	-0.2	0.2	-0.5
			Water and Sewerage Authority ^2/
Total revenue and grants			1.1	2.0	1.9	2.0	2.0
Total expenditure			1.5	1.8	1.8	1.9	1.8
Operational balance			-0.2	0.1	0.7	0.6	0.7
Current balance			-0.4	0.4	0.5	0.4	0.5
Overall balance			-0.4	0.3	0.1	0.1	0.2
			Marketing Board ^2/
Total revenue and grants			0.3	0.2	0.2	0.3	0.2
Total expenditure			0.3	0.2	0.2	0.2	0.2
Operational balance			0.0	0.0	0.0	0.0	0.0
Current balance			0.0	0.0	0.0	0.0	0.0
Overall balance			0.0	0.0	0.0	0.0	0.0
			National Development Corporation ^1/
Total revenue and grants			0.5	0.5	0.6	0.5	0.5
Total expenditure			0.4	0.7	0.6	0.4	0.0
Operational balance			0.0	0.1	0.0	0.1	0.2
Current balance			-0.1	0.0	0.0	0.1	0.1
Overall balance			0.0	-0.2	0.0	0.2	0.5

Sources: Individual public enterprises; and Fund staff estimates.

^{^1/}Fiscal years beginning April 1.

^{^2/}Fiscal year begining January 1.

Table 12.

St. Lucia: Consolidated Accounts of the Nonfinancial Public Enterprises

(In percent of GDP)

							Est.
			1998/99	1999/00	2000/01	2001/02	2002/03
Total revenue and grants			4.8	5.8	5.6	5.5	5.2
Current revenue			4.7	5.2	5.4	5.4	5.2
Capital revenue			0.1	0.1	0.2	0.1	0.0
Current transfers from Central Government			0.0	0.5	0.0	0.0	0.0
Capital transfers from Central Government			0.0	0.0	0.0	0.0	0.0
Capital grants from abroad			0.0	0.0	0.0	0.0	0.0
Total expenditure			4.8	6.3	5.6	4.9	5.0
Current expenditure			4.2	4.1	3.9	4.1	4.4
	Of which
		Interest	0.5	0.6	0.6	0.6	0.5
Capital expenditure			0.5	2.2	1.7	0.8	0.7
Operational balance			1.0	1.7	2.1	1.9	1.3
Current balance			0.5	1.6	1.2	1.3	0.8
Overall balance			0.0	-0.5	0.0	0.5	0.2
			Air and Sea Ports Authority ^1/
Total revenue and grants			2.9	3.1	2.8	2.7	2.5
Total expenditure			2.5	3.6	3.0	2.5	3.0
Operational balance			1.2	1.6	1.3	1.1	0.4
Current balance			0.9	1.3	1.0	0.8	0.2
Overall balance			0.4	-0.6	-0.2	0.2	-0.5
			Water and Sewerage Authority ^2/
Total revenue and grants			1.1	2.0	1.9	2.0	2.0
Total expenditure			1.5	1.8	1.8	1.9	1.8
Operational balance			-0.2	0.1	0.7	0.6	0.7
Current balance			-0.4	0.4	0.5	0.4	0.5
Overall balance			-0.4	0.3	0.1	0.1	0.2
			Marketing Board ^2/
Total revenue and grants			0.3	0.2	0.2	0.3	0.2
Total expenditure			0.3	0.2	0.2	0.2	0.2
Operational balance			0.0	0.0	0.0	0.0	0.0
Current balance			0.0	0.0	0.0	0.0	0.0
Overall balance			0.0	0.0	0.0	0.0	0.0
			National Development Corporation ^1/
Total revenue and grants			0.5	0.5	0.6	0.5	0.5
Total expenditure			0.4	0.7	0.6	0.4	0.0
Operational balance			0.0	0.1	0.0	0.1	0.2
Current balance			-0.1	0.0	0.0	0.1	0.1
Overall balance			0.0	-0.2	0.0	0.2	0.5

Sources: Individual public enterprises; and Fund staff estimates.

^{^1/}Fiscal years beginning April 1.

^{^2/}Fiscal year begining January 1.

Table 13.

St. Lucia: Expenditure and Financing of the Public Sector Investment Program (PSIP) ^1/

(In percent of GDP)

Sources: Table 21

^{^1/}Includes investments recorded directly by LUCELEC, not considered in the PSIP of the Ministry of Planning.

Table 13.

St. Lucia: Expenditure and Financing of the Public Sector Investment Program (PSIP) ^1/

(In percent of GDP)

						Est.
		1998/99	1999/00	2000/01	2001/02	2002/03
Total		7.0	8.2	6.3	7.2	8.8
Administration		0.7	1.7	0.7	0.9	1.0
Agriculture		1.3	1.4	0.3	0.4	1.7
Industry		0.1	0.1	0.1	0.2	0.1
Energy ^1/		0.0	0.0	0.0	0.0	0.0
Tourism		0.8	0.7	1.1	0.9	1.1
Transportation		0.4	1.4	0.5	1.1	1.6
Public safety		0.0	0.0	0.9	0.8	0.6
Environment		0.7	1.0	0.7	1.1	0.9
Financial services		0.0	0.0	0.0	0.0	0.0
Education		0.4	0.9	1.0	0.7	0.9
Housing		0.3	0.8	0.7	0.6	0.6
Health		1.8	0.1	0.2	0.1	0.1
Water and sewerage		0.5	0.0	0.0	0.5	0.3
Other		0.0	0.0	0.0	0.0	0.0
Source of financing ^1/		7.0	8.2	6.3	7.2	8.8
Domestic		2.0	5.1	3.8	5.0	4.6
External		5.0	3.2	2.6	2.2	4.3
	Loans	4.3	4.1	0.0	0.0	0.0
	Grants	1.3	1.3	0.0	0.0	0.0
Memorandum item:
Nominal GDP (EC$ dollars)		1,742.4	1,816.0	1,825.0	1,780.9	1,837.6

Sources: Table 21

^{^1/}Includes investments recorded directly by LUCELEC, not considered in the PSIP of the Ministry of Planning.

Table 13.

St. Lucia: Expenditure and Financing of the Public Sector Investment Program (PSIP) ^1/

(In percent of GDP)

						Est.
		1998/99	1999/00	2000/01	2001/02	2002/03
Total		7.0	8.2	6.3	7.2	8.8
Administration		0.7	1.7	0.7	0.9	1.0
Agriculture		1.3	1.4	0.3	0.4	1.7
Industry		0.1	0.1	0.1	0.2	0.1
Energy ^1/		0.0	0.0	0.0	0.0	0.0
Tourism		0.8	0.7	1.1	0.9	1.1
Transportation		0.4	1.4	0.5	1.1	1.6
Public safety		0.0	0.0	0.9	0.8	0.6
Environment		0.7	1.0	0.7	1.1	0.9
Financial services		0.0	0.0	0.0	0.0	0.0
Education		0.4	0.9	1.0	0.7	0.9
Housing		0.3	0.8	0.7	0.6	0.6
Health		1.8	0.1	0.2	0.1	0.1
Water and sewerage		0.5	0.0	0.0	0.5	0.3
Other		0.0	0.0	0.0	0.0	0.0
Source of financing ^1/		7.0	8.2	6.3	7.2	8.8
Domestic		2.0	5.1	3.8	5.0	4.6
External		5.0	3.2	2.6	2.2	4.3
	Loans	4.3	4.1	0.0	0.0	0.0
	Grants	1.3	1.3	0.0	0.0	0.0
Memorandum item:
Nominal GDP (EC$ dollars)		1,742.4	1,816.0	1,825.0	1,780.9	1,837.6

Sources: Table 21

^{^1/}Includes investments recorded directly by LUCELEC, not considered in the PSIP of the Ministry of Planning.

Table 14.

St. Lucia: Expenditure and Financing of the Public Sector Investment Program (PSIP)

Source: Ministry of Planning; and Fund staff estimates.

Table 14.

St. Lucia: Expenditure and Financing of the Public Sector Investment Program (PSIP)

						Est.
		1998/99	1999/00	2000/01	2001/02	2002/03
		(In millions of Eastern Caribbean dollars)
Total		121.4	149.5	115.8	129.0	162.6
General public service		12.4	31.8	29.1	30.2	30.3
Administration		11.9	31.6	13.0	16.1	19.1
Public safety		0.5	0.3	16.1	14.1	11.2
Economic sectors		38.7	40.2	27.6	26.9	53.6
Agriculture		22.6	25.0	5.9	7.2	31.6
Trade and industry		2.4	2.1	1.2	3.2	1.5
Tourism		13.7	13.1	20.5	16.5	20.5
Economic infrastructure		14.9	26.1	10.8	27.7	34.8
Power		0.0	0.6	0.5	0.2	0.2
Transport and communication		7.0	25.3	9.4	18.9	29.0
Water and sanitation		7.9	0.2	0.9	8.6	5.5
Social sectors		43.3	33.7	34.8	25.1	28.1
Education		7.7	16.5	17.6	12.9	16.5
Housing and community services		4.7	14.9	12.7	10.1	10.4
Health		30.9	2.3	4.5	2.1	1.1
Other		12.1	17.8	13.5	19.1	15.9
Environment		12.1	17.8	13.5	19.1	15.8
Financial services		0.0	0.0	0.0	0.0	0.1
Other		0.0	0.0	0.0	0.0	0.0
Source of financing		121.4	149.5	115.8	129.1	162.5
Domestic		34.0	91.8	69.2	89.9	84.0
External		87.4	57.7	46.6	39.2	78.5
	Loans	75.2	75.2	…	…	…
	Grants	23.5	23.5	…	…	…
		(In percent of public sector investment)
Total		100.0	100.0	100.0	100.0	100.0
General public service		10.2	21.3	25.1	23.4	18.6
Administration		9.8	21.1	11.2	12.5	11.7
Public safety		0.4	0.2	13.9	10.9	6.9
Economic sectors		31.9	26.9	23.8	20.9	33.0
Agriculture		18.6	16.7	5.1	5.6	19.4
Trade and industry		2.0	1.4	1.0	2.5	0.9
Tourism		11.3	8.8	17.7	12.8	12.6
Economic infrastructure		12.3	17.4	9.3	21.5	21.4
Power		0.0	0.4	0.4	0.2	0.1
Transport and communication		5.8	16.9	8.1	14.7	17.9
Water and sanitation		6.5	0.1	0.8	6.7	3.4
Social sectors		35.7	22.5	30.1	19.5	17.3
Education		6.3	11.0	15.2	10.0	10.2
Housing and community services		3.9	9.9	11.0	7.8	6.4
Health		25.5	1.5	3.9	1.6	0.7
Other		10.0	11.9	11.7	14.8	9.8
Environment		10.0	11.9	11.7	14.8	9.7
Financial services		0.0	0.0	0.0	0.0	0.0
Other		0.0	0.0	0.0	0.0	0.0
Source of financing		100.0	100.0	100.0	100.0	100.0
Domestic		28.0	61.4	59.8	69.7	51.7
External		72.0	38.6	40.2	30.4	48.3
	Loans	61.9	50.3	…	…	…
	Grants	19.4	15.7	…	…	…

Source: Ministry of Planning; and Fund staff estimates.

Table 14.

St. Lucia: Expenditure and Financing of the Public Sector Investment Program (PSIP)

						Est.
		1998/99	1999/00	2000/01	2001/02	2002/03
		(In millions of Eastern Caribbean dollars)
Total		121.4	149.5	115.8	129.0	162.6
General public service		12.4	31.8	29.1	30.2	30.3
Administration		11.9	31.6	13.0	16.1	19.1
Public safety		0.5	0.3	16.1	14.1	11.2
Economic sectors		38.7	40.2	27.6	26.9	53.6
Agriculture		22.6	25.0	5.9	7.2	31.6
Trade and industry		2.4	2.1	1.2	3.2	1.5
Tourism		13.7	13.1	20.5	16.5	20.5
Economic infrastructure		14.9	26.1	10.8	27.7	34.8
Power		0.0	0.6	0.5	0.2	0.2
Transport and communication		7.0	25.3	9.4	18.9	29.0
Water and sanitation		7.9	0.2	0.9	8.6	5.5
Social sectors		43.3	33.7	34.8	25.1	28.1
Education		7.7	16.5	17.6	12.9	16.5
Housing and community services		4.7	14.9	12.7	10.1	10.4
Health		30.9	2.3	4.5	2.1	1.1
Other		12.1	17.8	13.5	19.1	15.9
Environment		12.1	17.8	13.5	19.1	15.8
Financial services		0.0	0.0	0.0	0.0	0.1
Other		0.0	0.0	0.0	0.0	0.0
Source of financing		121.4	149.5	115.8	129.1	162.5
Domestic		34.0	91.8	69.2	89.9	84.0
External		87.4	57.7	46.6	39.2	78.5
	Loans	75.2	75.2	…	…	…
	Grants	23.5	23.5	…	…	…
		(In percent of public sector investment)
Total		100.0	100.0	100.0	100.0	100.0
General public service		10.2	21.3	25.1	23.4	18.6
Administration		9.8	21.1	11.2	12.5	11.7
Public safety		0.4	0.2	13.9	10.9	6.9
Economic sectors		31.9	26.9	23.8	20.9	33.0
Agriculture		18.6	16.7	5.1	5.6	19.4
Trade and industry		2.0	1.4	1.0	2.5	0.9
Tourism		11.3	8.8	17.7	12.8	12.6
Economic infrastructure		12.3	17.4	9.3	21.5	21.4
Power		0.0	0.4	0.4	0.2	0.1
Transport and communication		5.8	16.9	8.1	14.7	17.9
Water and sanitation		6.5	0.1	0.8	6.7	3.4
Social sectors		35.7	22.5	30.1	19.5	17.3
Education		6.3	11.0	15.2	10.0	10.2
Housing and community services		3.9	9.9	11.0	7.8	6.4
Health		25.5	1.5	3.9	1.6	0.7
Other		10.0	11.9	11.7	14.8	9.8
Environment		10.0	11.9	11.7	14.8	9.7
Financial services		0.0	0.0	0.0	0.0	0.0
Other		0.0	0.0	0.0	0.0	0.0
Source of financing		100.0	100.0	100.0	100.0	100.0
Domestic		28.0	61.4	59.8	69.7	51.7
External		72.0	38.6	40.2	30.4	48.3
	Loans	61.9	50.3	…	…	…
	Grants	19.4	15.7	…	…	…

Source: Ministry of Planning; and Fund staff estimates.

Table 15.

St. Lucia: Monetary Survey

Sources: ECCB; and Fund staff estimates and projections.

^{^1/}Includes assumption by government of EC$40 million in debt from the St. Lucia Banana Growers Association in 1998, previously included under credit to the private sector.

^{^2/}Nominal GDP at market prices divided by the average stock of money (measured as the simple average of the current period stock and the 12-months earlier).

Table 15.

St. Lucia: Monetary Survey

							Est.
			1999	2000	2001	2002	2003
			(In millions of Eastern Caribbean dollars, end of period)
Net foreign assets			81.4	116.6	117.4	105.2	246.4
Net imputed international reserves			195.6	207.8	235.2	248.1	294.5
Commercial banks			-114.2	-91.2	-117.8	-142.8	-48.1
Net domestic assets			1,011.9	1,062.8	1,116.9	1,168.1	1,087.9
Net credit to the public sector			-239.1	-258.4	-281.6	-250.7	-282.9
	Claims on government (net)		-63.8	-85.8	-113.1	-96.3	-97.4
		ECCB net credit to central government	7.9	3.5	10.9	3.1	-7.5
		Commercial bank net credit to government	-71.7	-89.3	-124.0	-99.4	-89.9
	Net credit to other public sector		-175.4	-172.7	-168.6	-154.3	-185.5
Credit to private sector ^1/			1,394.2	1,481.7	1,541.8	1,553.5	1,500.8
Other items (net)			-143.2	-160.5	-143.3	-134.7	-130.0
Money and quasi-money (M2)			1,093.3	1,179.4	1,234.3	1,273.3	1,334.3
Money			267.6	286.1	283.8	287.6	304.9
	Currency outside banks		84.1	84.6	82.1	83.6	84.2
	Demand deposits		183.6	201.5	201.7	204.0	222.3
Quasi-money			825.7	893.3	950.5	985.7	1,029.4
	Time deposits		292.2	334.7	364.4	309.6	255.5
	Savings deposits		512.5	551.1	573.3	652.3	743.0
	Foreign currency deposits		20.9	7.6	12.8	23.8	30.9
			(12-month change in percent of M2 at the beginning of the period)
Net foreign assets			-1.1	3.2	0.1	-1.0	11.1
Net imputed reserves			1.1	1.1	2.3	1.0	3.6
Commercial banks			-2.2	2.1	-2.3	-2.0	7.4
Net domestic assets			10.8	4.7	4.6	4.1	-6.3
Credit to the public sector			-2.9	-1.8	-2.0	2.5	-2.5
	Credit to the central government		-2.5	-2.0	-2.3	1.4	-0.1
	Credit to the rest of the public sector		-0.4	0.2	0.3	1.2	-2.4
Credit to the private sector			13.6	8.0	5.1	0.9	-4.1
Other items (net)			0.1	-1.6	1.5	0.7	0.4
			(12-month percentage change)
Credit to the private sector			10.8	6.3	4.1	0.8	-3.4
Money and quasi-money			9.7	7.9	4.7	3.2	4.8
	Money		8.0	6.9	-0.8	1.3	6.0
	Quasi-money		10.3	8.2	6.4	3.7	4.4
Memorandum item:
Income velocity of M2 ^2/			1.7	1.6	1.5	1.5	1.4

Sources: ECCB; and Fund staff estimates and projections.

^{^1/}Includes assumption by government of EC$40 million in debt from the St. Lucia Banana Growers Association in 1998, previously included under credit to the private sector.

^{^2/}Nominal GDP at market prices divided by the average stock of money (measured as the simple average of the current period stock and the 12-months earlier).

Table 15.

St. Lucia: Monetary Survey

							Est.
			1999	2000	2001	2002	2003
			(In millions of Eastern Caribbean dollars, end of period)
Net foreign assets			81.4	116.6	117.4	105.2	246.4
Net imputed international reserves			195.6	207.8	235.2	248.1	294.5
Commercial banks			-114.2	-91.2	-117.8	-142.8	-48.1
Net domestic assets			1,011.9	1,062.8	1,116.9	1,168.1	1,087.9
Net credit to the public sector			-239.1	-258.4	-281.6	-250.7	-282.9
	Claims on government (net)		-63.8	-85.8	-113.1	-96.3	-97.4
		ECCB net credit to central government	7.9	3.5	10.9	3.1	-7.5
		Commercial bank net credit to government	-71.7	-89.3	-124.0	-99.4	-89.9
	Net credit to other public sector		-175.4	-172.7	-168.6	-154.3	-185.5
Credit to private sector ^1/			1,394.2	1,481.7	1,541.8	1,553.5	1,500.8
Other items (net)			-143.2	-160.5	-143.3	-134.7	-130.0
Money and quasi-money (M2)			1,093.3	1,179.4	1,234.3	1,273.3	1,334.3
Money			267.6	286.1	283.8	287.6	304.9
	Currency outside banks		84.1	84.6	82.1	83.6	84.2
	Demand deposits		183.6	201.5	201.7	204.0	222.3
Quasi-money			825.7	893.3	950.5	985.7	1,029.4
	Time deposits		292.2	334.7	364.4	309.6	255.5
	Savings deposits		512.5	551.1	573.3	652.3	743.0
	Foreign currency deposits		20.9	7.6	12.8	23.8	30.9
			(12-month change in percent of M2 at the beginning of the period)
Net foreign assets			-1.1	3.2	0.1	-1.0	11.1
Net imputed reserves			1.1	1.1	2.3	1.0	3.6
Commercial banks			-2.2	2.1	-2.3	-2.0	7.4
Net domestic assets			10.8	4.7	4.6	4.1	-6.3
Credit to the public sector			-2.9	-1.8	-2.0	2.5	-2.5
	Credit to the central government		-2.5	-2.0	-2.3	1.4	-0.1
	Credit to the rest of the public sector		-0.4	0.2	0.3	1.2	-2.4
Credit to the private sector			13.6	8.0	5.1	0.9	-4.1
Other items (net)			0.1	-1.6	1.5	0.7	0.4
			(12-month percentage change)
Credit to the private sector			10.8	6.3	4.1	0.8	-3.4
Money and quasi-money			9.7	7.9	4.7	3.2	4.8
	Money		8.0	6.9	-0.8	1.3	6.0
	Quasi-money		10.3	8.2	6.4	3.7	4.4
Memorandum item:
Income velocity of M2 ^2/			1.7	1.6	1.5	1.5	1.4

Sources: ECCB; and Fund staff estimates and projections.

^{^1/}Includes assumption by government of EC$40 million in debt from the St. Lucia Banana Growers Association in 1998, previously included under credit to the private sector.

^{^2/}Nominal GDP at market prices divided by the average stock of money (measured as the simple average of the current period stock and the 12-months earlier).

Table 16.

St. Lucia: Summary Operations of the Eastern Caribbean Central Bank

(In millions of Eastern Caribbean dollars)

Source: Eastern Caribbean Central Bank.

^{^1/}Share of St. Lucia in the international reserves of the ECCB, calculated as the difference between liabilities to the private sector and net claims on commercial banks and government

Table 16.

St. Lucia: Summary Operations of the Eastern Caribbean Central Bank

(In millions of Eastern Caribbean dollars)

		1998	1999	2000	2001	2002
Net (imputed) international reserves ^1/		185.0	195.6	207.8	235.2	248.1
Net claims on commercial banks		-118.4	-117.5	-125.4	-164.0	-167.6
Claims		0.1	0.1	0.0	0.1	0.0
Liabilities		118.5	117.5	125.5	164.0	167.6
	Currency held by banks	43.8	40.4	37.3	37.0	40.8
	Statutory reserves	71.0	73.4	84.4	123.3	126.2
	Fixed deposits	3.8	3.8	3.8	3.8	0.7
Net claims on statutory bodies		-1.3	-2.0	-1.2	0.0	0.0
Net domestic assets		12.2	7.9	3.5	10.9	3.1
	Net credit to central government	12.2	7.9	3.5	10.9	3.1
	Short-term credit	0.0	0.0	0.0	0.0	0.0
	Temporary advances	1.7	1.2	1.9	1.9	3.3
	Treasury bills	5.2	6.6	5.4	0.8	0.2
	Debentures	5.0	5.0	5.0	5.0	5.0
	Other claims	6.5	5.4	4.3	3.2	2.2
	Central government deposits	-6.2	-10.3	-13.1	0.0	-7.7
Currency in circulation		77.5	84.1	84.6	82.1	83.6
	Total currency issued	121.3	124.4	121.9	119.1	124.4
	Less: Currency held by banks	43.8	40.4	37.3	37.0	40.8

Source: Eastern Caribbean Central Bank.

^{^1/}Share of St. Lucia in the international reserves of the ECCB, calculated as the difference between liabilities to the private sector and net claims on commercial banks and government

Table 16.

St. Lucia: Summary Operations of the Eastern Caribbean Central Bank

(In millions of Eastern Caribbean dollars)

		1998	1999	2000	2001	2002
Net (imputed) international reserves ^1/		185.0	195.6	207.8	235.2	248.1
Net claims on commercial banks		-118.4	-117.5	-125.4	-164.0	-167.6
Claims		0.1	0.1	0.0	0.1	0.0
Liabilities		118.5	117.5	125.5	164.0	167.6
	Currency held by banks	43.8	40.4	37.3	37.0	40.8
	Statutory reserves	71.0	73.4	84.4	123.3	126.2
	Fixed deposits	3.8	3.8	3.8	3.8	0.7
Net claims on statutory bodies		-1.3	-2.0	-1.2	0.0	0.0
Net domestic assets		12.2	7.9	3.5	10.9	3.1
	Net credit to central government	12.2	7.9	3.5	10.9	3.1
	Short-term credit	0.0	0.0	0.0	0.0	0.0
	Temporary advances	1.7	1.2	1.9	1.9	3.3
	Treasury bills	5.2	6.6	5.4	0.8	0.2
	Debentures	5.0	5.0	5.0	5.0	5.0
	Other claims	6.5	5.4	4.3	3.2	2.2
	Central government deposits	-6.2	-10.3	-13.1	0.0	-7.7
Currency in circulation		77.5	84.1	84.6	82.1	83.6
	Total currency issued	121.3	124.4	121.9	119.1	124.4
	Less: Currency held by banks	43.8	40.4	37.3	37.0	40.8

Source: Eastern Caribbean Central Bank.

^{^1/}Share of St. Lucia in the international reserves of the ECCB, calculated as the difference between liabilities to the private sector and net claims on commercial banks and government

Table 17.

St. Lucia: Consolidated Accounts of the Commercial Banks ^1/

(In millions of Eastern Caribbean dollars)

Sources: Eastern Caribbean Central Bank; and Fund staff projections.

^{^1/}The National Commercial Bank, the St. Lucia Cooperative Bank, Barclays Bank, the Bank of Nova Scotia, the Canadian Imperial Bank of Commerce, the Royal Bank of Canada, and Caribbean Banking Corporation.

^{^2/}Includes financial instrument issued by and loans to nonbank residents of countries ouside ECCB territory.

^{^3/}Includes government assumption of EC$40 million in debt from the SLBGA in 1998, previously included under credit to the private sector.

^{^4/}Private sector includes nonbank financial institutions.

Table 17.

St. Lucia: Consolidated Accounts of the Commercial Banks ^1/

(In millions of Eastern Caribbean dollars)

		1998	1999	2000	2001	2002
Net foreign assets		-92.4	-114.2	-91.2	-117.8	-142.8
Foreign assets		143.2	146.5	136.0	176.1	228.1
	Foreign currency holdings	9.8	7.4	7.3	7.9	10.5
	Claims on ECCB area banks	48.7	37.5	24.4	56.2	78.9
	Claims on banks abroad	31.9	28.2	34.4	47.9	47.1
	Other ^2/	52.9	73.4	69.9	64.1	91.6
Foreign liabilities		235.7	260.8	227.2	293.8	370.9
	Balances due to ECCB area banks	44.4	40.4	43.2	20.8	49.4
	Balances due to banks abroad	69.6	97.5	64.8	62.0	94.7
	Nonresident deposits	121.0	122.5	118.7	131.3	147.2
	Other	0.7	0.5	0.4	79.8	79.7
Net position with ECCB		108.5	123.1	120.1	150.3	172.8
Net claims on ECCB		108.5	123.5	121.0	152.4	173.9
	Currency holdings	43.8	40.4	37.3	37.0	40.8
	Current deposits	61.0	79.4	74.6	111.7	112.4
	Fixed deposits and call accounts	3.8	3.8	9.1	3.8	20.7
Liabilities to ECCB		0.0	-0.5	-0.9	-2.1	-1.0
Net domestic assets		902.8	1,000.4	1,065.9	1,121.2	1,159.7
Net credit to government		-51.1	-71.7	-89.3	-124.0	-99.4
	Treasury bills	11.2	11.2	10.2	18.3	20.3
	Other securities	15.5	23.5	34.6	23.3	52.2
	Loans and advances ^3/	85.2	87.0	85.9	87.7	70.1
	Deposits	-163.0	-193.4	-219.9	-253.3	-242.1
Net credit to National Insurance Scheme		-156.4	-163.0	-184.1	-183.2	-174.3
Net credit to public enterprises		-14.9	-12.4	11.5	14.7	20.0
	Loans, advances, and investments	46.7	47.1	65.5	64.6	69.8
	Deposits	-61.6	-59.4	-54.1	-49.9	-49.8
Net credit to other financial institutions		-49.9	-38.6	-24.9	-43.4	-32.7
	Loans, advances, and investments	14.1	30.5	30.7	25.9	28.3
	Deposits	-64.1	-69.1	-55.6	-69.3	-61.0
Credit to private sector		1,258.2	1,394.2	1,481.7	1,541.8	1,553.5
Interbank float		9.8	27.1	14.1	7.8	1.7
	Claims	48.2	70.2	41.2	37.6	28.1
	Liabilities	-38.4	-43.1	-27.1	-29.8	-26.5
Net unclassified assets		-92.8	-135.2	-143.1	-92.6	-108.9
Liabilities to the private sector ^4/		918.9	1,009.2	1,094.8	1,152.2	1,189.7
	Demand deposits	170.4	183.6	201.5	201.7	204.0
	Saving deposits	467.9	512.5	551.1	573.3	652.3
	Time deposits	273.6	292.2	334.7	364.4	309.6
	Foreign currency deposits	7.1	20.9	7.6	12.8	23.8

Sources: Eastern Caribbean Central Bank; and Fund staff projections.

^{^2/}Includes financial instrument issued by and loans to nonbank residents of countries ouside ECCB territory.

^{^3/}Includes government assumption of EC$40 million in debt from the SLBGA in 1998, previously included under credit to the private sector.

^{^4/}Private sector includes nonbank financial institutions.

Table 17.

St. Lucia: Consolidated Accounts of the Commercial Banks ^1/

(In millions of Eastern Caribbean dollars)

		1998	1999	2000	2001	2002
Net foreign assets		-92.4	-114.2	-91.2	-117.8	-142.8
Foreign assets		143.2	146.5	136.0	176.1	228.1
	Foreign currency holdings	9.8	7.4	7.3	7.9	10.5
	Claims on ECCB area banks	48.7	37.5	24.4	56.2	78.9
	Claims on banks abroad	31.9	28.2	34.4	47.9	47.1
	Other ^2/	52.9	73.4	69.9	64.1	91.6
Foreign liabilities		235.7	260.8	227.2	293.8	370.9
	Balances due to ECCB area banks	44.4	40.4	43.2	20.8	49.4
	Balances due to banks abroad	69.6	97.5	64.8	62.0	94.7
	Nonresident deposits	121.0	122.5	118.7	131.3	147.2
	Other	0.7	0.5	0.4	79.8	79.7
Net position with ECCB		108.5	123.1	120.1	150.3	172.8
Net claims on ECCB		108.5	123.5	121.0	152.4	173.9
	Currency holdings	43.8	40.4	37.3	37.0	40.8
	Current deposits	61.0	79.4	74.6	111.7	112.4
	Fixed deposits and call accounts	3.8	3.8	9.1	3.8	20.7
Liabilities to ECCB		0.0	-0.5	-0.9	-2.1	-1.0
Net domestic assets		902.8	1,000.4	1,065.9	1,121.2	1,159.7
Net credit to government		-51.1	-71.7	-89.3	-124.0	-99.4
	Treasury bills	11.2	11.2	10.2	18.3	20.3
	Other securities	15.5	23.5	34.6	23.3	52.2
	Loans and advances ^3/	85.2	87.0	85.9	87.7	70.1
	Deposits	-163.0	-193.4	-219.9	-253.3	-242.1
Net credit to National Insurance Scheme		-156.4	-163.0	-184.1	-183.2	-174.3
Net credit to public enterprises		-14.9	-12.4	11.5	14.7	20.0
	Loans, advances, and investments	46.7	47.1	65.5	64.6	69.8
	Deposits	-61.6	-59.4	-54.1	-49.9	-49.8
Net credit to other financial institutions		-49.9	-38.6	-24.9	-43.4	-32.7
	Loans, advances, and investments	14.1	30.5	30.7	25.9	28.3
	Deposits	-64.1	-69.1	-55.6	-69.3	-61.0
Credit to private sector		1,258.2	1,394.2	1,481.7	1,541.8	1,553.5
Interbank float		9.8	27.1	14.1	7.8	1.7
	Claims	48.2	70.2	41.2	37.6	28.1
	Liabilities	-38.4	-43.1	-27.1	-29.8	-26.5
Net unclassified assets		-92.8	-135.2	-143.1	-92.6	-108.9
Liabilities to the private sector ^4/		918.9	1,009.2	1,094.8	1,152.2	1,189.7
	Demand deposits	170.4	183.6	201.5	201.7	204.0
	Saving deposits	467.9	512.5	551.1	573.3	652.3
	Time deposits	273.6	292.2	334.7	364.4	309.6
	Foreign currency deposits	7.1	20.9	7.6	12.8	23.8

Sources: Eastern Caribbean Central Bank; and Fund staff projections.

^{^2/}Includes financial instrument issued by and loans to nonbank residents of countries ouside ECCB territory.

^{^3/}Includes government assumption of EC$40 million in debt from the SLBGA in 1998, previously included under credit to the private sector.

^{^4/}Private sector includes nonbank financial institutions.

Table 18.

St. Lucia: Selected Interest Rates

Sources: Ministry of Finance; and Eastern Caribbean Central Bank.

Table 18.

St. Lucia: Selected Interest Rates

	December 31			September 30
		1999	2000	2001	2002	2003
I. Eastern Caribbean Central Bank
Deposit Rates for Commercial Banks
(In percent per annum)
Call		5.36	6.38	1.79	1.66	-
One month		6.09	6.46	1.67	1.60	-
Three months		5.91	6.23	1.65	1.58	-
Lending
Overdrafts		10.50	10.50	10.50	10.50
Temporary advances		8.00	8.00	7.00	7.00	-
Memorandum items:
Libor on U.S. dollar three-month deposits (average)		5.41	6.53	3.78	1.81	-
Difference between Libor and comparable ECCB rate		0.50	-0.31	-2.13	-0.23	-
II. Commercial Banks
Deposits
Savings		4.00-6.00	4.00-6.00	4.00-6.00 0	3.00-5.50	3.00-5.50
Time
	3 months	2.00-9.25	2.00-9.25	2.00-6.00 0	2.00-6.00	2.00-6.00
	6 months	2.00-9.25	2.00-9.25	2.00-6.25 0	2.00-6.00	2.00-6.25
	12 months	2.00-9.25	2.00-9.25	2.00-6.50 0	2.00-6.00	2.00-6.50
Lending
Prime rate		9.50-10.50	9.50-10.50	9.50-10.50 0	9.50-10.50	9.50-10.50
Other lending rate		7.5-18.00	7.5-18.00	6.00-18.00 0	6.00-18.00	6.00-18.00

Sources: Ministry of Finance; and Eastern Caribbean Central Bank.

Table 18.

St. Lucia: Selected Interest Rates

	December 31			September 30
		1999	2000	2001	2002	2003
I. Eastern Caribbean Central Bank
Deposit Rates for Commercial Banks
(In percent per annum)
Call		5.36	6.38	1.79	1.66	-
One month		6.09	6.46	1.67	1.60	-
Three months		5.91	6.23	1.65	1.58	-
Lending
Overdrafts		10.50	10.50	10.50	10.50
Temporary advances		8.00	8.00	7.00	7.00	-
Memorandum items:
Libor on U.S. dollar three-month deposits (average)		5.41	6.53	3.78	1.81	-
Difference between Libor and comparable ECCB rate		0.50	-0.31	-2.13	-0.23	-
II. Commercial Banks
Deposits
Savings		4.00-6.00	4.00-6.00	4.00-6.00 0	3.00-5.50	3.00-5.50
Time
	3 months	2.00-9.25	2.00-9.25	2.00-6.00 0	2.00-6.00	2.00-6.00
	6 months	2.00-9.25	2.00-9.25	2.00-6.25 0	2.00-6.00	2.00-6.25
	12 months	2.00-9.25	2.00-9.25	2.00-6.50 0	2.00-6.00	2.00-6.50
Lending
Prime rate		9.50-10.50	9.50-10.50	9.50-10.50 0	9.50-10.50	9.50-10.50
Other lending rate		7.5-18.00	7.5-18.00	6.00-18.00 0	6.00-18.00	6.00-18.00

Sources: Ministry of Finance; and Eastern Caribbean Central Bank.

Table 19.

St. Lucia: Sectoral Distribution of Commercial Bank Loans and Advances

Source: Eastern Caribbean Central Bank.

Table 19.

St. Lucia: Sectoral Distribution of Commercial Bank Loans and Advances

	1998	1999	2000	2001	2002
	(In millions of Eastern Caribbean dollars at end of period)
Total	1,422.2	1,560.5	1,649.5	1,709.2	1,721.2
Public sector	127.0	131.2	144.5	156.8	149.9
Government and public enterprises, n.i.e.	108.5	115.2	124.2	125.5	112.3
Public utilities	18.6	15.9	20.2	31.4	37.5
Businesses	592.0	687.7	703.9	759.3	813.2
Agriculture and fisheries	21.8	23.7	30.0	41.1	34.9
Manufacturing and mining	53.4	53.0	46.5	53.8	56.9
Distributive trades	178.6	195.4	200.3	198.9	214.0
Tourism and entertainment	133.8	163.1	155.2	172.6	212.2
Transport	39.5	48.2	55.8	49.0	33.2
Construction and land development	59.3	66.5	84.5	99.9	110.9
Professional and other services	93.7	125.8	119.0	134.4	135.9
Financial institutions	12.0	12.1	12.5	9.5	15.2
Households	703.1	741.6	801.2	793.1	758.1
Acquisition of property	303.3	337.7	378.3	319.5	325.7
Durable consumer goods	127.7	99.4	103.8	90.1	63.9
Other	272.0	304.5	319.1	383.5	368.6
	(In percent of total)
Public sector	8.9	8.4	8.8	9.2	8.7
Government and public enterprises, n.i.e.	7.6	7.4	7.5	7.3	6.5
Public utilities	1.3	1.0	1.2	1.8	2.2
Businesses	41.6	44.1	42.7	44.4	47.2
Agriculture and fisheries	1.5	1.5	1.8	2.4	2.0
Manufacturing and mining	3.8	3.4	2.8	3.1	3.3
Distributive trades	12.6	12.5	12.1	11.6	12.4
Tourism and entertainment	9.4	10.5	9.4	10.1	12.3
Transport	2.8	3.1	3.4	2.9	1.9
Construction and land development	4.2	4.3	5.1	5.8	6.4
Professional and other services	6.6	8.1	7.2	7.9	7.9
Financial institutions	0.8	0.8	0.8	0.6	0.9
Households	49.4	47.5	48.6	46.4	44.0
House and land purchases	21.3	21.6	22.9	18.7	18.9
Durable consumer goods	9.0	6.4	6.3	5.3	3.7
Other	19.1	19.5	19.3	22.4	21.4

Source: Eastern Caribbean Central Bank.

Table 19.

St. Lucia: Sectoral Distribution of Commercial Bank Loans and Advances

	1998	1999	2000	2001	2002
	(In millions of Eastern Caribbean dollars at end of period)
Total	1,422.2	1,560.5	1,649.5	1,709.2	1,721.2
Public sector	127.0	131.2	144.5	156.8	149.9
Government and public enterprises, n.i.e.	108.5	115.2	124.2	125.5	112.3
Public utilities	18.6	15.9	20.2	31.4	37.5
Businesses	592.0	687.7	703.9	759.3	813.2
Agriculture and fisheries	21.8	23.7	30.0	41.1	34.9
Manufacturing and mining	53.4	53.0	46.5	53.8	56.9
Distributive trades	178.6	195.4	200.3	198.9	214.0
Tourism and entertainment	133.8	163.1	155.2	172.6	212.2
Transport	39.5	48.2	55.8	49.0	33.2
Construction and land development	59.3	66.5	84.5	99.9	110.9
Professional and other services	93.7	125.8	119.0	134.4	135.9
Financial institutions	12.0	12.1	12.5	9.5	15.2
Households	703.1	741.6	801.2	793.1	758.1
Acquisition of property	303.3	337.7	378.3	319.5	325.7
Durable consumer goods	127.7	99.4	103.8	90.1	63.9
Other	272.0	304.5	319.1	383.5	368.6
	(In percent of total)
Public sector	8.9	8.4	8.8	9.2	8.7
Government and public enterprises, n.i.e.	7.6	7.4	7.5	7.3	6.5
Public utilities	1.3	1.0	1.2	1.8	2.2
Businesses	41.6	44.1	42.7	44.4	47.2
Agriculture and fisheries	1.5	1.5	1.8	2.4	2.0
Manufacturing and mining	3.8	3.4	2.8	3.1	3.3
Distributive trades	12.6	12.5	12.1	11.6	12.4
Tourism and entertainment	9.4	10.5	9.4	10.1	12.3
Transport	2.8	3.1	3.4	2.9	1.9
Construction and land development	4.2	4.3	5.1	5.8	6.4
Professional and other services	6.6	8.1	7.2	7.9	7.9
Financial institutions	0.8	0.8	0.8	0.6	0.9
Households	49.4	47.5	48.6	46.4	44.0
House and land purchases	21.3	21.6	22.9	18.7	18.9
Durable consumer goods	9.0	6.4	6.3	5.3	3.7
Other	19.1	19.5	19.3	22.4	21.4

Source: Eastern Caribbean Central Bank.

Table 20.

St. Lucia: Sectoral Distribution of Commercial Bank Loans and Advances

Sources: St. Lucian authorities; ECCB; and Fund staff estimates.

^{^1/}Includes errors and omissions.

Table 20.

St. Lucia: Sectoral Distribution of Commercial Bank Loans and Advances

								Est.
				1999	2000	2001	2002	2003
			(In millions of U.S. dollars)
Current account				-83.6	-84.8	-59.0	-84.9	-129.1
Trade balance				-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 (net)				145.5	157.7	145.4	107.9	143.3
	Receipts			322.7	332.5	301.7	278.4	322.5
		Travel		277.1	286.1	251.2	230.7	266.7
		Other nonfactor services		43.2	42.5	47.9	45.1	53.2
		Factor services		2.4	3.9	2.6	2.6	2.6
	Payments			177.2	174.8	156.3	170.5	179.2
		Travel		33.0	33.3	31.5	33.5	34.3
		Other nonfactor services		103.4	94.5	79.6	91.1	93.2
		Factor services		40.8	47.0	45.2	46.0	51.6
			Of which: public interest payments	6.9	8.1	11.5	10.7	15.5
Current transfers (net)				22.0	17.1	13.6	13.0	13.9
Capital and Financial Account				91.3	93.0	69.2	90.0	146.3
Capital transfers (net)				25.1	15.8	26.4	21.4	25.9
Official borrowing (net)				13.3	29.5	20.9	41.5	67.5
	Central government loan drawings			23.3	17.9	32.6	31.0	20.4
	Central government loan amortization			10.0	12.0	25.1	23.5	6.5
	Other (net)			0.0	23.5	13.4	33.9	53.6
Private capital				52.9	47.8	21.8	27.1	52.9
	Private long-term (net)			43.3	45.1	10.8	15.2	84.5
		Of which: direct investment (net)		82.8	54.9	22.4	31.4	102.1
	Commercial banks			8.1	-8.5	9.8	7.6	-35.1
	Other short term capital (net) ^1/			1.6	11.2	1.2	4.3	3.5
Overall balance				7.7	8.2	10.1	5.1	17.2
Financing (increase -)				-7.7	-8.2	-10.1	-5.1	-17.2
Change in SDR holdings				0.0	0.0	0.0	0.0	0.0
Change in government foreign assets				-3.8	-3.7	0.0	-0.4	0.0
Change in imputed reserves (increase -)				-3.9	-4.5	-10.1	-4.8	-17.2
			(In percent of GDP)
Current account				-12.5	-12.4	-9.0	-12.5	-18.6
Capital and financial account				13.6	13.6	10.6	13.3	21.1

Sources: St. Lucian authorities; ECCB; and Fund staff estimates.

^{^1/}Includes errors and omissions.

Table 20.

St. Lucia: Sectoral Distribution of Commercial Bank Loans and Advances

								Est.
				1999	2000	2001	2002	2003
			(In millions of U.S. dollars)
Current account				-83.6	-84.8	-59.0	-84.9	-129.1
Trade balance				-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 (net)				145.5	157.7	145.4	107.9	143.3
	Receipts			322.7	332.5	301.7	278.4	322.5
		Travel		277.1	286.1	251.2	230.7	266.7
		Other nonfactor services		43.2	42.5	47.9	45.1	53.2
		Factor services		2.4	3.9	2.6	2.6	2.6
	Payments			177.2	174.8	156.3	170.5	179.2
		Travel		33.0	33.3	31.5	33.5	34.3
		Other nonfactor services		103.4	94.5	79.6	91.1	93.2
		Factor services		40.8	47.0	45.2	46.0	51.6
			Of which: public interest payments	6.9	8.1	11.5	10.7	15.5
Current transfers (net)				22.0	17.1	13.6	13.0	13.9
Capital and Financial Account				91.3	93.0	69.2	90.0	146.3
Capital transfers (net)				25.1	15.8	26.4	21.4	25.9
Official borrowing (net)				13.3	29.5	20.9	41.5	67.5
	Central government loan drawings			23.3	17.9	32.6	31.0	20.4
	Central government loan amortization			10.0	12.0	25.1	23.5	6.5
	Other (net)			0.0	23.5	13.4	33.9	53.6
Private capital				52.9	47.8	21.8	27.1	52.9
	Private long-term (net)			43.3	45.1	10.8	15.2	84.5
		Of which: direct investment (net)		82.8	54.9	22.4	31.4	102.1
	Commercial banks			8.1	-8.5	9.8	7.6	-35.1
	Other short term capital (net) ^1/			1.6	11.2	1.2	4.3	3.5
Overall balance				7.7	8.2	10.1	5.1	17.2
Financing (increase -)				-7.7	-8.2	-10.1	-5.1	-17.2
Change in SDR holdings				0.0	0.0	0.0	0.0	0.0
Change in government foreign assets				-3.8	-3.7	0.0	-0.4	0.0
Change in imputed reserves (increase -)				-3.9	-4.5	-10.1	-4.8	-17.2
			(In percent of GDP)
Current account				-12.5	-12.4	-9.0	-12.5	-18.6
Capital and financial account				13.6	13.6	10.6	13.3	21.1

Sources: St. Lucian authorities; ECCB; and Fund staff estimates.

^{^1/}Includes errors and omissions.

Table 21.

St. Lucia: Value, Volume, and Unit Value of Major Exports

Sources: Statistics Department; St. Lucia Banana Growers Association, Windward Islands Banana Development and Exporting Company (Wibdeco); and Fund staff estimates.

^{^1/}Includes goods procured in ports by carriers and repair on goods.

Table 21.

St. Lucia: Value, Volume, and Unit Value of Major Exports

			1999	2000	2001	2002	2003
			(Values in thousands of U.S. dollars and units in U.S. dollars)
Total goods exports			60,894	52,861	54,116	69,839	66,143
	Domestic exports		51,969	39,357	37,142	42,882	37,729
	Re-exports		3,677	3,889	7,159	19,016	21,356
	Other ^1/		5,248	9,615	9,815	7,941	7,058
Main domestic exports
	Bananas
		Value	32,211	31,841	15,244	21,707	15,300
		Volume (‘000 tons)	65	70	34	48	31
		Unit price	493.82	453.04	447.78	450.72	487.26
	Fruits and vegetables
		Value	2,055	1,727	1,835	…	…
		Volume (‘000 kilos)	3,939	3,954	3,291	…	…
		Unit price	0.52	0.44	0.56	…	…
	Beer
		Value	6,541	7,401	9,158	…	…
		Volume (‘000 gallons)	846	979	1,333	…	…
		Unit price	7.73	7.56	6.87	…	…
	Paper and paperboard
		Value	2,420	2,472	1,170	3,770	…
		Volume (‘000 kilos)	3,009	3,242	1,570	4,253	…
		Unit price	0.80	0.76	0.75	0.89	…
	Clothing
		Value	3,309	3,293	3,378	…	…
		Volume (000 units)	1,920	2,016	2,117	…	…
		Unit price	1.72	1.63	1.60	…	…
	Electronic components
		Value	1,832	2,272	2,331	…	…
		Volume (kilos)	45	47	50	…	…
		Unit price	40.71	48.34	46.62	…	…
			(In percent of GDP)
Total Goods Exports			9.1	7.7	8.3	10.3	9.5
	Domestic exports		7.8	5.8	5.7	6.3	5.4
	Re-exports		0.5	0.6	1.1	2.8	3.1
	Other ^1/		0.8	1.4	1.5	1.2	1.0
			(Annual percentage change)
Total Goods Exports			-13.5	-13.2	2.4	29.1	-5.3
	Domestic exports		-13.9	-24.3	-5.6	15.5	-12.0
	Re-exports		102.7	5.8	84.1	165.6	12.3
	Other ^1/		-35.8	83.2	2.1	-19.1	-11.1

Sources: Statistics Department; St. Lucia Banana Growers Association, Windward Islands Banana Development and Exporting Company (Wibdeco); and Fund staff estimates.

^{^1/}Includes goods procured in ports by carriers and repair on goods.

Table 21.

St. Lucia: Value, Volume, and Unit Value of Major Exports

			1999	2000	2001	2002	2003
			(Values in thousands of U.S. dollars and units in U.S. dollars)
Total goods exports			60,894	52,861	54,116	69,839	66,143
	Domestic exports		51,969	39,357	37,142	42,882	37,729
	Re-exports		3,677	3,889	7,159	19,016	21,356
	Other ^1/		5,248	9,615	9,815	7,941	7,058
Main domestic exports
	Bananas
		Value	32,211	31,841	15,244	21,707	15,300
		Volume (‘000 tons)	65	70	34	48	31
		Unit price	493.82	453.04	447.78	450.72	487.26
	Fruits and vegetables
		Value	2,055	1,727	1,835	…	…
		Volume (‘000 kilos)	3,939	3,954	3,291	…	…
		Unit price	0.52	0.44	0.56	…	…
	Beer
		Value	6,541	7,401	9,158	…	…
		Volume (‘000 gallons)	846	979	1,333	…	…
		Unit price	7.73	7.56	6.87	…	…
	Paper and paperboard
		Value	2,420	2,472	1,170	3,770	…
		Volume (‘000 kilos)	3,009	3,242	1,570	4,253	…
		Unit price	0.80	0.76	0.75	0.89	…
	Clothing
		Value	3,309	3,293	3,378	…	…
		Volume (000 units)	1,920	2,016	2,117	…	…
		Unit price	1.72	1.63	1.60	…	…
	Electronic components
		Value	1,832	2,272	2,331	…	…
		Volume (kilos)	45	47	50	…	…
		Unit price	40.71	48.34	46.62	…	…
			(In percent of GDP)
Total Goods Exports			9.1	7.7	8.3	10.3	9.5
	Domestic exports		7.8	5.8	5.7	6.3	5.4
	Re-exports		0.5	0.6	1.1	2.8	3.1
	Other ^1/		0.8	1.4	1.5	1.2	1.0
			(Annual percentage change)
Total Goods Exports			-13.5	-13.2	2.4	29.1	-5.3
	Domestic exports		-13.9	-24.3	-5.6	15.5	-12.0
	Re-exports		102.7	5.8	84.1	165.6	12.3
	Other ^1/		-35.8	83.2	2.1	-19.1	-11.1

Sources: Statistics Department; St. Lucia Banana Growers Association, Windward Islands Banana Development and Exporting Company (Wibdeco); and Fund staff estimates.

^{^1/}Includes goods procured in ports by carriers and repair on goods.

Table 22.

St. Lucia: Merchandise Imports by SITC Category

Source: Statistics Department of the Ministry of Finance; and Fund staff estimates.

Table 22.

St. Lucia: Merchandise Imports by SITC Category

						Est.
		1999	2000	2001	2002	2003
		(In millions of U.S. dollars)
Total imports, c.i.f.		354.6	355.1	309.2	313.2	400.6
Food		70.8	71.0	69.0	62.6	70.9
Beverages and tobacco		12.1	12.1	11.8	11.7	13.1
Crude materials		10.6	10.5	8.6	8.0	8.6
Fuels		24.1	33.2	39.6	31.0	41.6
Oils and fats		0.6	0.6	0.6	0.3	0.7
Chemicals		32.3	29.2	26.0	26.1	28.3
Manufactured goods		72.1	62.8	55.7	52.3	58.6
Machinery and transport equipment		81.9	87.2	61.2	72.1	121.8
Miscellaneous manufactured articles		49.7	48.5	36.7	49.0	57.0
Miscellaneous		0.3	0.0	0.0	0.1	0.1
		(In percent)
Total imports, c.i.f.		100.0	100.0	100.0	100.0	100.0
Food		20.0	20.0	22.3	20.0	17.7
Beverages and tobacco		3.4	3.4	3.8	3.7	3.3
Crude materials		3.0	3.0	2.8	2.5	2.2
Fuels		6.8	9.3	12.8	9.9	10.4
Oils and fats		0.2	0.2	0.2	0.1	0.2
Chemicals		9.1	8.2	8.4	8.3	7.1
Manufactured goods		20.3	17.7	18.0	16.7	14.6
Machinery and transport equipment		23.1	24.6	19.8	23.0	30.4
Miscellaneous manufactured articles		14.0	13.7	11.9	15.6	14.2
Miscellaneous		0.1	0.0	0.0	0.0	0.0
Memorandum items:
Total imports, c.i.f.
	Percent change	5.8	0.1	-12.9	1.3	27.9
	Ratio to GDP (percent)	53.0	52.0	47.3	46.3	57.8

Source: Statistics Department of the Ministry of Finance; and Fund staff estimates.

Table 22.

St. Lucia: Merchandise Imports by SITC Category

						Est.
		1999	2000	2001	2002	2003
		(In millions of U.S. dollars)
Total imports, c.i.f.		354.6	355.1	309.2	313.2	400.6
Food		70.8	71.0	69.0	62.6	70.9
Beverages and tobacco		12.1	12.1	11.8	11.7	13.1
Crude materials		10.6	10.5	8.6	8.0	8.6
Fuels		24.1	33.2	39.6	31.0	41.6
Oils and fats		0.6	0.6	0.6	0.3	0.7
Chemicals		32.3	29.2	26.0	26.1	28.3
Manufactured goods		72.1	62.8	55.7	52.3	58.6
Machinery and transport equipment		81.9	87.2	61.2	72.1	121.8
Miscellaneous manufactured articles		49.7	48.5	36.7	49.0	57.0
Miscellaneous		0.3	0.0	0.0	0.1	0.1
		(In percent)
Total imports, c.i.f.		100.0	100.0	100.0	100.0	100.0
Food		20.0	20.0	22.3	20.0	17.7
Beverages and tobacco		3.4	3.4	3.8	3.7	3.3
Crude materials		3.0	3.0	2.8	2.5	2.2
Fuels		6.8	9.3	12.8	9.9	10.4
Oils and fats		0.2	0.2	0.2	0.1	0.2
Chemicals		9.1	8.2	8.4	8.3	7.1
Manufactured goods		20.3	17.7	18.0	16.7	14.6
Machinery and transport equipment		23.1	24.6	19.8	23.0	30.4
Miscellaneous manufactured articles		14.0	13.7	11.9	15.6	14.2
Miscellaneous		0.1	0.0	0.0	0.0	0.0
Memorandum items:
Total imports, c.i.f.
	Percent change	5.8	0.1	-12.9	1.3	27.9
	Ratio to GDP (percent)	53.0	52.0	47.3	46.3	57.8

Source: Statistics Department of the Ministry of Finance; and Fund staff estimates.

Table 23.

St. Lucia: Imports and Prices of Petroleum Products

(Values in millions of Eastern Caribbean dollar, quantities in millions of gallons, and prices in Eastern Caribbean dollar per gallon; unless otherwise indicated)

Sources: Statistics Department of the Ministry of Finance; and LUCELEC.

^{^1/}Figures for Gasoline, Diesel, and Kerosene are for January - September, 2003. Figures for Electricity consumption are for January - August, 2003

Table 23.

St. Lucia: Imports and Prices of Petroleum Products

(Values in millions of Eastern Caribbean dollar, quantities in millions of gallons, and prices in Eastern Caribbean dollar per gallon; unless otherwise indicated)

			1999	2000	2001	2002	2003 ^1/
Gasoline
Value			25.3	39.4	38.8	37.9	21.8
Volume			14.4	11.9	12.7	…	…
Unit price			1.8	3.3	3.1	…	…
Retail price			6.4	7.0	7.0	7.8	7.8
Diesel
Value			27.2	12.6	10.9	31.5	42.5
Volume			15.2	4.1	3.9	…	…
Unit price			1.8	3.1	2.8	…	…
Retail price			5.9	6.5	6.5	7.0	7.0
Kerosene
Value			0.2	2.5	3.2	0.4	0.4
Volume			0.1	0.8	1.1	…	…
Unit price			2.0	3.2	2.9	…	…
Retail price			5.0	5.2	5.2	5.2	5.2
LPG (gas)
Value			3.3	…	…	…	…
Volume			2.6	…	…	…	…
Unit price (EC$/lb)			1.3	1.4	1.4	1.4	1.4
Memorandum items:
Electricity consumption (millions of kwh)			254.4	274.9	284.7	284.5	203.6
	Of which
		Domestic	79.5	85.1	88.5	89.1	61.7
		Commercial	79.3	85.2	88.6	86.7	60.5
		Industrial	12.3	13.3	13.0	12.7	8.8
		Other and losses	83.3	91.7	94.6	96.1	72.6

Sources: Statistics Department of the Ministry of Finance; and LUCELEC.

^{^1/}Figures for Gasoline, Diesel, and Kerosene are for January - September, 2003. Figures for Electricity consumption are for January - August, 2003

Table 23.

St. Lucia: Imports and Prices of Petroleum Products

(Values in millions of Eastern Caribbean dollar, quantities in millions of gallons, and prices in Eastern Caribbean dollar per gallon; unless otherwise indicated)

			1999	2000	2001	2002	2003 ^1/
Gasoline
Value			25.3	39.4	38.8	37.9	21.8
Volume			14.4	11.9	12.7	…	…
Unit price			1.8	3.3	3.1	…	…
Retail price			6.4	7.0	7.0	7.8	7.8
Diesel
Value			27.2	12.6	10.9	31.5	42.5
Volume			15.2	4.1	3.9	…	…
Unit price			1.8	3.1	2.8	…	…
Retail price			5.9	6.5	6.5	7.0	7.0
Kerosene
Value			0.2	2.5	3.2	0.4	0.4
Volume			0.1	0.8	1.1	…	…
Unit price			2.0	3.2	2.9	…	…
Retail price			5.0	5.2	5.2	5.2	5.2
LPG (gas)
Value			3.3	…	…	…	…
Volume			2.6	…	…	…	…
Unit price (EC$/lb)			1.3	1.4	1.4	1.4	1.4
Memorandum items:
Electricity consumption (millions of kwh)			254.4	274.9	284.7	284.5	203.6
	Of which
		Domestic	79.5	85.1	88.5	89.1	61.7
		Commercial	79.3	85.2	88.6	86.7	60.5
		Industrial	12.3	13.3	13.0	12.7	8.8
		Other and losses	83.3	91.7	94.6	96.1	72.6

Sources: Statistics Department of the Ministry of Finance; and LUCELEC.

^{^1/}Figures for Gasoline, Diesel, and Kerosene are for January - September, 2003. Figures for Electricity consumption are for January - August, 2003

Table 24.

St. Lucia: Merchandise Trade Volumes, Unit Values and Terms of Trade

Source: Statistical Department, Ministry of Finance; and Fund staff estimates.

^{^1/}Based on merchandise export items accounting for about 90 percent of total domestic exports

^{^2/}Number of tourist arrivals.

^{^3/}Based on data for main trading partners that account for at least 95 percent of imports.

^{^4/}Average expenditure per day of each tourist

Table 24.

St. Lucia: Merchandise Trade Volumes, Unit Values and Terms of Trade

						Est.
		1999	2000	2001	2002	2003
		(Index, 2000 = 100)
Volumes
Exports		90.0	100.0	91.2	91.6	98.3
	Merchandise exports ^1/	92.9	100.0	68.8	86.8	68.5
	Tourism ^2/	89.5	100.0	95.1	92.8	103.8
Merchandise imports ^3/		99.3	100.0	89.9	88.7	112.4
Unit values
Exports		108.0	100.0	93.0	89.3	91.8
	Merchandise exports ^1/	106.8	100.0	98.4	102.2	106.3
	Tourism ^4/	108.3	100.0	92.3	86.9	89.8
Merchandise imports ^3/		100.5	100.0	96.8	99.4	100.4
Terms of trade		107.5	100.0	96.1	89.8	91.4
	(excluding tourism)	106.2	100.0	101.6	102.8	105.9
		(Annual percentage change)
Volumes
Exports		0.9	11.2	-8.8	0.5	7.3
	Merchandise exports ^1/	-5.8	7.6	-31.2	26.2	-21.1
	Tourism	2.2	11.8	-4.9	-2.4	11.8
Merchandise imports ^3/		13.9	0.7	-10.1	-1.3	26.7
Unit values
Exports		-0.4	-7.5	-7.0	-4.0	2.7
	Merchandise exports ^1/	-0.6	-6.4	-1.6	3.9	4.0
	Tourism	-0.3	-7.6	-7.7	-5.9	3.4
Merchandise imports ^3/		-7.2	-0.5	-3.2	2.7	1.0
Terms of trade		7.3	-7.0	-3.9	-6.5	1.7
	(excluding tourism)	7.1	-5.9	1.6	1.2	3.0

Source: Statistical Department, Ministry of Finance; and Fund staff estimates.

^{^1/}Based on merchandise export items accounting for about 90 percent of total domestic exports

^{^2/}Number of tourist arrivals.

^{^3/}Based on data for main trading partners that account for at least 95 percent of imports.

^{^4/}Average expenditure per day of each tourist

Table 24.

St. Lucia: Merchandise Trade Volumes, Unit Values and Terms of Trade

						Est.
		1999	2000	2001	2002	2003
		(Index, 2000 = 100)
Volumes
Exports		90.0	100.0	91.2	91.6	98.3
	Merchandise exports ^1/	92.9	100.0	68.8	86.8	68.5
	Tourism ^2/	89.5	100.0	95.1	92.8	103.8
Merchandise imports ^3/		99.3	100.0	89.9	88.7	112.4
Unit values
Exports		108.0	100.0	93.0	89.3	91.8
	Merchandise exports ^1/	106.8	100.0	98.4	102.2	106.3
	Tourism ^4/	108.3	100.0	92.3	86.9	89.8
Merchandise imports ^3/		100.5	100.0	96.8	99.4	100.4
Terms of trade		107.5	100.0	96.1	89.8	91.4
	(excluding tourism)	106.2	100.0	101.6	102.8	105.9
		(Annual percentage change)
Volumes
Exports		0.9	11.2	-8.8	0.5	7.3
	Merchandise exports ^1/	-5.8	7.6	-31.2	26.2	-21.1
	Tourism	2.2	11.8	-4.9	-2.4	11.8
Merchandise imports ^3/		13.9	0.7	-10.1	-1.3	26.7
Unit values
Exports		-0.4	-7.5	-7.0	-4.0	2.7
	Merchandise exports ^1/	-0.6	-6.4	-1.6	3.9	4.0
	Tourism	-0.3	-7.6	-7.7	-5.9	3.4
Merchandise imports ^3/		-7.2	-0.5	-3.2	2.7	1.0
Terms of trade		7.3	-7.0	-3.9	-6.5	1.7
	(excluding tourism)	7.1	-5.9	1.6	1.2	3.0

Source: Statistical Department, Ministry of Finance; and Fund staff estimates.

^{^1/}Based on merchandise export items accounting for about 90 percent of total domestic exports

^{^2/}Number of tourist arrivals.

^{^3/}Based on data for main trading partners that account for at least 95 percent of imports.

^{^4/}Average expenditure per day of each tourist

Table 25.

St. Lucia: Direction of Trade

(In percent of total)

Sources: Statistics Department of the Ministry of Finance.

Table 25.

St. Lucia: Direction of Trade

(In percent of total)

		1998	1999	2000	2001	2002
Export destination		100.0	100.0	100.0	100.0	100.0
United Kingdom		65.1	63.5	55.9	40.6	37.6
United States		13.8	12.1	14.8	19.0	20.0
CARICOM countries		19.1	22.3	26.7	34.3	37.3
	Barbados	4.0	7.2	10.3	9.0	9.6
	Guyana	0.6	0.5	0.0	0.5	0.8
	Jamaica	0.0	0.0	0.0	0.3	0.5
	Trinidad and Tobago	5.7	3.8	1.8	11.4	11.7
	OECS	8.3	10.2	13.2	12.4	13.9
	Other	0.6	0.6	1.5	0.7	0.8
France		0.1	0.1	0.0	0.2	0.1
Italy		0.0	0.0	0.0	0.2	0.0
Rest of world		2.0	1.9	2.6	5.6	4.87
Origin of Imports		100.0	100.0	100.0	100.0	100.0
United Kingdom		9.3	10.5	8.5	9.2	8.7
Canada		3.4	3.3	3.8	3.4	2.9
United States		36.6	39.6	37.5	38.3	39.3
CARICOM countries		21.4	21.6	21.7	22.9	21.9
	Barbados	3.1	3.0	2.8	3.3	2.6
	Jamaica	1.0	0.9	0.8	0.9	1.1
	Trinidad and Tobago	12.9	14.1	14.4	14.2	15.1
	OECS	3.6	2.7	2.6	2.6	2.3
	Other	0.8	0.9	1.1	1.8	0.8
Germany		1.4	1.0	1.0	0.9	1.2
France		2.0	1.4	2.0	1.7	2.0
Netherlands		1.7	1.2	1.1	1.3	1.2
Italy		0.7	0.8	1.0	0.8	0.8
Japan		5.2	5.6	4.5	4.8	3.4
Rest of world		18.3	15.0	18.8	16.5	18.7

Sources: Statistics Department of the Ministry of Finance.

Table 25.

St. Lucia: Direction of Trade

(In percent of total)

		1998	1999	2000	2001	2002
Export destination		100.0	100.0	100.0	100.0	100.0
United Kingdom		65.1	63.5	55.9	40.6	37.6
United States		13.8	12.1	14.8	19.0	20.0
CARICOM countries		19.1	22.3	26.7	34.3	37.3
	Barbados	4.0	7.2	10.3	9.0	9.6
	Guyana	0.6	0.5	0.0	0.5	0.8
	Jamaica	0.0	0.0	0.0	0.3	0.5
	Trinidad and Tobago	5.7	3.8	1.8	11.4	11.7
	OECS	8.3	10.2	13.2	12.4	13.9
	Other	0.6	0.6	1.5	0.7	0.8
France		0.1	0.1	0.0	0.2	0.1
Italy		0.0	0.0	0.0	0.2	0.0
Rest of world		2.0	1.9	2.6	5.6	4.87
Origin of Imports		100.0	100.0	100.0	100.0	100.0
United Kingdom		9.3	10.5	8.5	9.2	8.7
Canada		3.4	3.3	3.8	3.4	2.9
United States		36.6	39.6	37.5	38.3	39.3
CARICOM countries		21.4	21.6	21.7	22.9	21.9
	Barbados	3.1	3.0	2.8	3.3	2.6
	Jamaica	1.0	0.9	0.8	0.9	1.1
	Trinidad and Tobago	12.9	14.1	14.4	14.2	15.1
	OECS	3.6	2.7	2.6	2.6	2.3
	Other	0.8	0.9	1.1	1.8	0.8
Germany		1.4	1.0	1.0	0.9	1.2
France		2.0	1.4	2.0	1.7	2.0
Netherlands		1.7	1.2	1.1	1.3	1.2
Italy		0.7	0.8	1.0	0.8	0.8
Japan		5.2	5.6	4.5	4.8	3.4
Rest of world		18.3	15.0	18.8	16.5	18.7

Sources: Statistics Department of the Ministry of Finance.

Table 26.

St. Lucia: Selected Tourism Statistics

Sources: Eastern Caribbean Central Bank; and Fund staff estimates.

Table 26.

St. Lucia: Selected Tourism Statistics

						Prel.
		1999	2000	2001	2002	2003
Total visitor arrivals		622,059	726,254	747,181	648,355	628,849
Stay-over arrivals		260,583	269,850	250,132	253,463	281,344
	Hotel tourist	221,496	229,373	212,612	215,444	239,142
	Hotel business	15,635	16,191	15,008	15,208	16,881
	Private residence	23,452	24,287	22,512	22,812	25,321
Excursionist		10,243	12,853	7,137	7,712	6,787
Cruiseship		351,233	443,551	489,912	387,180	340,718
Average daily expenditure (EC$)		272.1	251.3	232.0	218.3	225.7
Stay-over arrivals		295.6	275.4	250.6	234.6	238.9
	Hotel tourist	318.1	287.9	260.2	242.4	249.8
	Hotel business	318.1	287.9	260.2	242.4	249.8
	Private residence	160.0	166.0	166.0	166.0	171.0
Excursionist		140.4	121.5	121.5	121.5	122.7
Cruiseship		116.1	113.0	141.3	116.7	117.9
Average length of stay (days)		4.4	4.2	3.9	4.4	5.1
Stay-over arrivals		9.2	9.7	9.7	9.7	10.1
	Hotel tourist	9.0	10.0	10.0	10.0	10.0
	Hotel business	3.5	3.5	3.5	3.5	3.5
	Private residence	14.5	11.0	11.0	11.0	15.5
Excursionist		1.0	1.0	1.0	1.0	1.0
Cruiseship		1.0	1.0	1.0	1.0	1.0
Visitor expenditure (millions of EC$)		748.2	772.6	678.2	623.0	720.1
Stay-over arrivals		706.0	720.9	608.1	576.9	679.1
	Hotel tourist	634.2	660.3	553.3	522.3	597.3
	Hotel business	17.4	16.3	13.7	12.9	14.8
	Private residence	54.4	44.3	41.1	41.6	67.1
Excursionist		1.4	1.6	0.9	0.9	0.8
Cruiseship		40.8	50.1	69.2	45.2	40.2
Total visitor expenditure
In millions of U.S. dollars		277.1	286.1	251.2	230.7	266.7
In percent of GDP		41.4	41.9	38.4	34.1	38.5
		(In percent change)
Total visitor arrivals		-1.3	16.8	2.9	-13.2	-3.0
Stay-over arrivals		3.3	3.6	-7.3	1.3	11.0

Sources: Eastern Caribbean Central Bank; and Fund staff estimates.

Table 26.

St. Lucia: Selected Tourism Statistics

						Prel.
		1999	2000	2001	2002	2003
Total visitor arrivals		622,059	726,254	747,181	648,355	628,849
Stay-over arrivals		260,583	269,850	250,132	253,463	281,344
	Hotel tourist	221,496	229,373	212,612	215,444	239,142
	Hotel business	15,635	16,191	15,008	15,208	16,881
	Private residence	23,452	24,287	22,512	22,812	25,321
Excursionist		10,243	12,853	7,137	7,712	6,787
Cruiseship		351,233	443,551	489,912	387,180	340,718
Average daily expenditure (EC$)		272.1	251.3	232.0	218.3	225.7
Stay-over arrivals		295.6	275.4	250.6	234.6	238.9
	Hotel tourist	318.1	287.9	260.2	242.4	249.8
	Hotel business	318.1	287.9	260.2	242.4	249.8
	Private residence	160.0	166.0	166.0	166.0	171.0
Excursionist		140.4	121.5	121.5	121.5	122.7
Cruiseship		116.1	113.0	141.3	116.7	117.9
Average length of stay (days)		4.4	4.2	3.9	4.4	5.1
Stay-over arrivals		9.2	9.7	9.7	9.7	10.1
	Hotel tourist	9.0	10.0	10.0	10.0	10.0
	Hotel business	3.5	3.5	3.5	3.5	3.5
	Private residence	14.5	11.0	11.0	11.0	15.5
Excursionist		1.0	1.0	1.0	1.0	1.0
Cruiseship		1.0	1.0	1.0	1.0	1.0
Visitor expenditure (millions of EC$)		748.2	772.6	678.2	623.0	720.1
Stay-over arrivals		706.0	720.9	608.1	576.9	679.1
	Hotel tourist	634.2	660.3	553.3	522.3	597.3
	Hotel business	17.4	16.3	13.7	12.9	14.8
	Private residence	54.4	44.3	41.1	41.6	67.1
Excursionist		1.4	1.6	0.9	0.9	0.8
Cruiseship		40.8	50.1	69.2	45.2	40.2
Total visitor expenditure
In millions of U.S. dollars		277.1	286.1	251.2	230.7	266.7
In percent of GDP		41.4	41.9	38.4	34.1	38.5
		(In percent change)
Total visitor arrivals		-1.3	16.8	2.9	-13.2	-3.0
Stay-over arrivals		3.3	3.6	-7.3	1.3	11.0

Sources: Eastern Caribbean Central Bank; and Fund staff estimates.

Table 27.

St. Lucia: Stayover Tourist Arrivals by Country of Origin

Sources: Statistics Department of the Ministry of Finance; Tourism Board; and Fund staff estimates.

Table 27.

St. Lucia: Stayover Tourist Arrivals by Country of Origin

					Est.
	1999	2000	2001	2002	2003
	(Number of arrivals in thousands)
Total stayover arrivals	260.6	269.9	250.1	253.5	281.3
United States	83.5	97.5	91.2	94.0	98.5
United Kingdom	69.9	73.4	66.5	63.3	73.9
Canada	13.2	15.0	12.3	12.9	13.1
Caribbean	60.3	54.6	60.2	66.4	70.9
France	13.6	11.0	5.1	3.4	6.8
Germany	8.7	7.3	4.8	3.9	4.5
Other	11.5	11.0	10.0	9.5	13.6
	(In percent of total)
Total arrivals	102.8	106.5	98.7	100.0	111.0
United States	32.9	38.5	36.0	37.1	38.9
United Kingdom	27.6	29.0	26.2	25.0	29.1
Canada	5.2	5.9	4.8	5.1	5.2
Caribbean	23.8	21.5	23.7	26.2	28.0
France	5.4	4.3	2.0	1.3	2.7
Germany	3.4	2.9	1.9	1.6	1.8
Other	4.5	4.4	4.0	3.7	5.4

Sources: Statistics Department of the Ministry of Finance; Tourism Board; and Fund staff estimates.

Table 27.

St. Lucia: Stayover Tourist Arrivals by Country of Origin

					Est.
	1999	2000	2001	2002	2003
	(Number of arrivals in thousands)
Total stayover arrivals	260.6	269.9	250.1	253.5	281.3
United States	83.5	97.5	91.2	94.0	98.5
United Kingdom	69.9	73.4	66.5	63.3	73.9
Canada	13.2	15.0	12.3	12.9	13.1
Caribbean	60.3	54.6	60.2	66.4	70.9
France	13.6	11.0	5.1	3.4	6.8
Germany	8.7	7.3	4.8	3.9	4.5
Other	11.5	11.0	10.0	9.5	13.6
	(In percent of total)
Total arrivals	102.8	106.5	98.7	100.0	111.0
United States	32.9	38.5	36.0	37.1	38.9
United Kingdom	27.6	29.0	26.2	25.0	29.1
Canada	5.2	5.9	4.8	5.1	5.2
Caribbean	23.8	21.5	23.7	26.2	28.0
France	5.4	4.3	2.0	1.3	2.7
Germany	3.4	2.9	1.9	1.6	1.8
Other	4.5	4.4	4.0	3.7	5.4

Sources: Statistics Department of the Ministry of Finance; Tourism Board; and Fund staff estimates.

Table 28.

St. Lucia: Summary External Public Debt

Sources: Ministry of Finance; and Fund staff estimates.

Table 28.

St. Lucia: Summary External Public Debt

								Est.
				1999	2000	2001	2002	2003
				(In millions of US dollars)
Outstanding debt at beginning of period				154.8	170.0	197.1	214.4	259.8
	Central government			87.5	101.8	132.1	148.5	194.2
		Bonded debt		8.8	8.8	32.3	45.7	79.7
		Loans		78.7	93.0	99.8	102.8	114.6
	Government-guaranteed			62.2	63.2	61.7	56.4	53.7
		Of which: Lucelec		12.2	12.1	10.7	9.2	8.3
	Other			5.1	5.1	3.3	9.5	11.9
Total drawings				23.3	41.5	46.0	65.3	84.9
	Central government			17.5	37.2	37.1	60.8	82.8
		Bonded debt		0.0	23.5	13.4	34.3	62.4
		Loans		17.5	13.6	23.7	26.5	20.4
	Government-guaranteed			5.2	4.3	1.5	1.1	2.1
		Of which: Lucelec		0.0	0.0	0.0	0.0	0.0
	Other			0.6	0.0	7.4	3.5	0.0
Debt service payments				16.9	20.0	36.6	34.6	32.9
	Amortization			10.0	12.0	25.1	23.9	17.4
		Central government		3.7	5.2	19.1	17.9	12.5
			Bonded debt	0.0	0.0	0.0	0.4	6.0
			Loans	3.7	5.2	19.1	17.5	6.5
		Government-guaranteed		4.9	5.5	4.7	4.8	4.9
			Of which: Lucelec	1.0	1.4	1.4	1.0	0.8
		Other		1.4	1.3	1.2	1.2	0.0
	Interest			6.9	8.1	11.5	10.7	15.5
		Central government		3.5	4.7	8.1	7.9	13.3
			Bonded debt	0.7	2.1	3.4	4.1	8.5
			Loans	2.9	2.6	4.7	3.8	4.7
		Government-guaranteed		3.0	3.1	2.9	2.0	2.2
			Of which: Lucelec	0.5	0.5	0.4	0.3	0.3
		Other		0.4	0.3	0.5	0.7	0.0
Valuation adjustment				1.9	-2.4	-3.6	4.0	2.3
		Of which: Lucelec		0.9	0.1	-0.1	0.1	-0.1
Outstanding debt end of period				170.0	197.1	214.4	259.8	329.6
	Central government			101.8	132.1	148.5	194.2	267.0
		Bonded debt		8.8	32.3	45.7	79.7	136.0
		Loans		93.0	99.8	102.8	114.6	130.9
	Government-guaranteed			63.2	61.7	56.4	53.7	50.7
		Of which: Lucelec		12.1	10.7	9.2	8.3	7.3
	Other			5.1	3.3	9.5	11.9	12.0
				(In Percent)
Total external debt (in percent of GDP)				25.4	28.8	32.8	38.4	47.6
Debt service (in percent of exports of goods and nonfactor services)				4.4	5.3	10.4	10.0	8.5

Sources: Ministry of Finance; and Fund staff estimates.

Table 28.

St. Lucia: Summary External Public Debt

								Est.
				1999	2000	2001	2002	2003
				(In millions of US dollars)
Outstanding debt at beginning of period				154.8	170.0	197.1	214.4	259.8
	Central government			87.5	101.8	132.1	148.5	194.2
		Bonded debt		8.8	8.8	32.3	45.7	79.7
		Loans		78.7	93.0	99.8	102.8	114.6
	Government-guaranteed			62.2	63.2	61.7	56.4	53.7
		Of which: Lucelec		12.2	12.1	10.7	9.2	8.3
	Other			5.1	5.1	3.3	9.5	11.9
Total drawings				23.3	41.5	46.0	65.3	84.9
	Central government			17.5	37.2	37.1	60.8	82.8
		Bonded debt		0.0	23.5	13.4	34.3	62.4
		Loans		17.5	13.6	23.7	26.5	20.4
	Government-guaranteed			5.2	4.3	1.5	1.1	2.1
		Of which: Lucelec		0.0	0.0	0.0	0.0	0.0
	Other			0.6	0.0	7.4	3.5	0.0
Debt service payments				16.9	20.0	36.6	34.6	32.9
	Amortization			10.0	12.0	25.1	23.9	17.4
		Central government		3.7	5.2	19.1	17.9	12.5
			Bonded debt	0.0	0.0	0.0	0.4	6.0
			Loans	3.7	5.2	19.1	17.5	6.5
		Government-guaranteed		4.9	5.5	4.7	4.8	4.9
			Of which: Lucelec	1.0	1.4	1.4	1.0	0.8
		Other		1.4	1.3	1.2	1.2	0.0
	Interest			6.9	8.1	11.5	10.7	15.5
		Central government		3.5	4.7	8.1	7.9	13.3
			Bonded debt	0.7	2.1	3.4	4.1	8.5
			Loans	2.9	2.6	4.7	3.8	4.7
		Government-guaranteed		3.0	3.1	2.9	2.0	2.2
			Of which: Lucelec	0.5	0.5	0.4	0.3	0.3
		Other		0.4	0.3	0.5	0.7	0.0
Valuation adjustment				1.9	-2.4	-3.6	4.0	2.3
		Of which: Lucelec		0.9	0.1	-0.1	0.1	-0.1
Outstanding debt end of period				170.0	197.1	214.4	259.8	329.6
	Central government			101.8	132.1	148.5	194.2	267.0
		Bonded debt		8.8	32.3	45.7	79.7	136.0
		Loans		93.0	99.8	102.8	114.6	130.9
	Government-guaranteed			63.2	61.7	56.4	53.7	50.7
		Of which: Lucelec		12.1	10.7	9.2	8.3	7.3
	Other			5.1	3.3	9.5	11.9	12.0
				(In Percent)
Total external debt (in percent of GDP)				25.4	28.8	32.8	38.4	47.6
Debt service (in percent of exports of goods and nonfactor services)				4.4	5.3	10.4	10.0	8.5

Sources: Ministry of Finance; and Fund staff estimates.

Table 29.

St. Lucia: Effective Exchange Rate Indices ^1/

(1990 = 100)

Source: IMF Information Notice System.

^{^1/}Period averages.

^{^2/}Increases denote appreciation.

^{^3/}Through November 2003.

Table 29.

St. Lucia: Effective Exchange Rate Indices ^1/

(1990 = 100)

	Real Effective Exchange Rate ^2/	Nominal Effective Exchange Rate ^2/	Relative Consumer Prices
1999
I	111.2	128.7	86.4
II	115.4	131.6	87.7
III	116.8	131.7	88.7
IV	118.7	130.9	90.7
2000
I	119.7	133.2	89.9
II	122.3	136.6	89.5
III	123.0	138.9	88.6
IV	124.3	141.7	87.7
2001
I	122.0	139.8	87.2
II	123.9	143.6	86.3
III	122.5	142.6	85.9
IV	123.1	142.7	86.3
2002
I	124.8	144.4	86.5
II	122.4	141.2	86.7
III	118.2	136.8	86.4
IV	116.9	136.7	85.6
2003
I	112.2	132.5	84.8
II	108.2	129.1	83.8
III	107.4	129.3	83.0
IV ^3/	103.5	125.9	82.2
1999	115.5	130.7	88.4
2000	122.3	137.6	88.9
2001	122.9	142.2	86.4
2002	120.6	139.8	86.3
2003 ^3/	108.2	129.5	83.6

Source: IMF Information Notice System.

^{^1/}Period averages.

^{^2/}Increases denote appreciation.

^{^3/}Through November 2003.

Table 29.

St. Lucia: Effective Exchange Rate Indices ^1/

(1990 = 100)

	Real Effective Exchange Rate ^2/	Nominal Effective Exchange Rate ^2/	Relative Consumer Prices
1999
I	111.2	128.7	86.4
II	115.4	131.6	87.7
III	116.8	131.7	88.7
IV	118.7	130.9	90.7
2000
I	119.7	133.2	89.9
II	122.3	136.6	89.5
III	123.0	138.9	88.6
IV	124.3	141.7	87.7
2001
I	122.0	139.8	87.2
II	123.9	143.6	86.3
III	122.5	142.6	85.9
IV	123.1	142.7	86.3
2002
I	124.8	144.4	86.5
II	122.4	141.2	86.7
III	118.2	136.8	86.4
IV	116.9	136.7	85.6
2003
I	112.2	132.5	84.8
II	108.2	129.1	83.8
III	107.4	129.3	83.0
IV ^3/	103.5	125.9	82.2
1999	115.5	130.7	88.4
2000	122.3	137.6	88.9
2001	122.9	142.2	86.4
2002	120.6	139.8	86.3
2003 ^3/	108.2	129.5	83.6

Source: IMF Information Notice System.

^{^1/}Period averages.

^{^2/}Increases denote appreciation.

^{^3/}Through November 2003.

St. Lucia: Summary of the Tax System

(as of October 31, 2003)

St. Lucia: Summary of the Tax System

(as of October 31, 2003)

Type of Tax	Tax Base	Tax Rate	Method of Application	Exemptions and Deductions
1. Income Profits and Capital Gains				Allowances:
1.1 Personal Income Tax	On chargeable income: $1-$10,000 $10,001-$20,000 $20,001-$30,000 $30,001 and over	10 percent 15 percent 20 percent 30 percent	Applied at graduated rates after granting personal deductions and other itemized deductions.	Personal - 16,000; spouse (1,500); child (1,000); Education child-10 years and over attending school (2,000); Higher education, - relative attending university (5,000); housekeeper (200); dependent relative (350); Medical - 400 or any substantiated by receipts.
				Deductions: Life & national insurances - maximum - 1/10 assessable income or 8,000, Mortgage interest - maximum of 15,000, House insurance and taxes, credit union shares - 3,600 - maximum, Annuity Pension Plan - maximum 6,000. New shares in resident public company - maximum - 5000, Registered Home Ownership plan, 6000 maximum, Solar water heater - 6500, max. Donations to charitable organizations under a deed of covenant - maximum 25 percent of assessable income. Student loan interest - 3,000 maximum. For self employed individuals - all expensive wholly and exclusively incurred for the purpose of producing assessable income. Capital allowance - on assets (10-33⅓ percent)
				Exemptions: Emoluments of the Governor General and the Permanent Consular members; wounded and disability pensions; Allowances paid to public officers, scholarships, Superannuation funds, Agricultural income, Dividends, interest from banks in St. Lucia, first gratuity, Tips paid to certain categories of hotel workers, the first 6,000 of pension income and first gratuity Income of a minister of religion or person in holy orders.
1.2 Corporate Income Tax	On the income of resident companies and from non-resident companies earned from carrying on business in St. Lucia.	33 percent	The advance payment of taxes, (Quarterly Installments) based on chargeable income for the previous year.	Deduction: All expenses wholly and exclusively incurred in the production of income. Capital allowance; - Year of purchase - initial -20 percent Annual allowance varies according to asset. (5–33⅓ percent). Losses from prior years up to 1/2 (50 percent) of assessable income of the subsequent year and thereafter, until loss is fully utilized or a six year period, whichever is the earlier.
1.2 a). Small Businesses	-do-	Yr(1) -15 percent Yr (2) - 20 percent Yr(3) - 25 percent Yr(4) -30 percent Yr(5) & subsequent yrs - 33⅓ percent	Reduced rates to (qualified) small businesses in first 4 years of operation.
1.3 Withholding Tax	Levied on payments to nonresidents of royalties, rents, management fees, premiums, commissions, annuities and any other payments of an income nature.	25 percent	Applied directly to gross payment	Re-insurance dividends, interest or discount, lease premium license, annuities or other periodic payments by way of alimony or maintenance
1.3. a) Contract Tax	Levied on payments to contractor and sub-contractors, for labour, labour and material, hiring of equipment., surrender to life insurance policy, where maturity is not earlier than ten years from the date of affected. Termination of approved pension fund	10 percent	Applied to gross amount being paid.
1.3. a) Contract Tax		25 percent	-do-
3. Property Tax				Exemptions:
3.1 House	Levied on annual assessed rental value.	5 percent		House owner, who has reached pensionable age, and whose sole income is a retirement benefit under the N.I.C. scheme, and whose residence is used exclusively to accommodate him and his family.
3.1 a). Commercial	Market value of Property	25 percent	New property completed after April 2001.	Owner occupied property where the household income is less than
3.1 b) Combination		Determined by Comptroller	Government buildings used for public purposes; buildings owned and used by the University of the West Indies; and public shelters.	$ 6,000. First time house owners for a period of not more than 3 years.
				Rate of exemption:
Mortgage value;
up to –	200,000 –	100 percent
200,001 –	400,000 –	75 percent
400,001 –	600, 000 –	50 percent
600,000 –		–25 percent
3.2 Land Tax	On the area of lands as follows: 0-50 acres 50-100 acres 100-500 acres Exceeding 500 acres	$0.25 per acre or part thereof $0.50 per acre or part thereof $0.75 per acre or part thereof $1 per acre or part thereof		Exemption: Land less than 10 acres.
3.3 Property Transfer Tax	A stamp duty payable on the sale of immovable property: Local transfer			None
	- $0 to $50,000 - on the next $25,000 - on the next $75,000 Over $75,000 If the vendor is a foreigner.	0 percent 2.5 percent 3.5 percent 5 percent 10 percent
4. Taxes on Domestic Goods and services
4.1 Consumption Tax on locally produced goods	Wholesale whole sale price of locally produce goods.	The general rate is 0-35 percent. (See 5.2)	Levied on the wholesale price of locally produce goods.	Exemptions are provided in accordance with Fiscal Incentives Act, Tourism Incentives Act and a number of other pieces of legislation and governmental agreements
4.2 Excise Tax	Levied on locally manufactured and imported alcoholic beverages, motor vehicles and explosives.	Alcoholic beverages: $0.44 to $13.66 per liter. Motor Vehicles: 20.5 percent to 85 percent. Explosives: 60 percent to 85 percent.	Based on CIF value for imports and wholesale price for locally produced goods.	Undenatured rum (strong rum), if used as an input into manufacture of alcoholic beverages, is exempted from excise tax
4.3 Hotel Accommodation Tax		8 percent		Exemption:
4.3 a). Small Hotel	(1) Levied on the proceeds of the letting of all hotel accommodation of an hotel operator.	8 percent		1. Guest accommodated in a non-charge or complimentary room offered for promotional purposes only.
4.3 b). All inclusive	(2) Levied on the advertised packaged price payable by the guest for accommodation., on the basis of US$8 per person per night.			2. A child, who is under the age of 12 years and is not accommodated separately from the person accompanying that child, who is also a guest at that hotel.
4.4 Insurance Premium Plan	Levied on the value of insurance premium: Life (resident) Life (foreign) General (resident) General (foreign)	1.5 percent on balance premium income. 3 percent on balance premium income. 3 percent on gross premiums. 5 percent		None
4.7 Licenses
Alien Land Holding Tax	(a) License as an owner. (b) License to hold land as lease at;	7.5 percent
	1. Fixed rental rate	5 percent of value of consideration paid.
	2. Progressive rental over the years.	5 percent of the accumulated fixed rental payable under the lease and 5 percent of the accumulated rental.
	(c) License to hold:	5 percent of consideration paid, based on the book or open market value, whichever is the greater.
	1. Shares, stocks or debentures in a company incorporated in St. Lucia	5 percent of the value of trust property 5 percent of consideration paid, based on the book or open market value, whichever is the greater.
	2. Land in trust
	3. Shares, stock or debentures in trust.
Liquor	Permits the holder to sell liquor as follows:	Per half year.
	In Castries, Soufriere and Vieux
	Fort - Beer	$120
	- Boarding house	$300
	- Clubs	$120
	- Grocers retail	$500
	Beyond the city of Castries,
	Soufriere and Vieux Fort
	- Beer	$60
	- Boarding house	$240
	- Clubs	$120
	- Grocers retail	$300
	Hotels
	In Castries, Soufriere and Vieux
	Fort and beyond their city limits
	Less than 20 rooms	$375
	20-39 rooms	$900
	40-59 rooms	$1,875
	60-99 rooms	$3,000
	100-169 rooms	$4,500
	170 rooms and over	$6,000
	Refreshment House
	- In city limits	$280
	- Beyond city limits	$185
	Restaurant
	- In city limits	$300
	- Beyond city limits	$300
	Retail	Per half year
	- In city limits	$180
	- Beyond city limits	$135
	Wholesale
	- In city limits	$1,500 and $1,000
	- Beyond city limits	$500
	Occasional (for each day or part thereof)
	- In city limits	$50
	- Beyond city limits	$25
Telecommunications license
	UHF/VHF Commercial Radio
	(a) base and mobile	$40 per annum
	(b) hand held	$25 per annum
	Portable
	(c) repeater (private)	$200 per annum
	(d) repeater (public)	$500 per annum
	Aeronautical Radio Station	$100 per annum
	Amateur Radio
	(a) initial license	$40
	(b) annual license	$25
	Paging System	$500 per annum
	Maritime
	- base station, mobile or hand held	$75 per annum
	- fishing vessels over 40 ft.	$50 per annum
	- non-fishing vessels
	less than 40 ft.	$75 per annum
	more than 40 ft.	$200 per annum
	UHF/VHF Commercial Land
	Mobile
	Frequency
	Satellite Dish
	- commercial
	- noncommercial
	Fixed Public Network	3% Gross Revenue
Telecommunications License	Public Mobile Network	3% Gross Revenue
Initial and Annual Fee Collected by the IRD	Internet Network & Services	3% Gross Revenue
	Internet Service Provision	3% Gross Revenue
Trade License	License to carry on retail trade as follows:
	$0-9,999	$1,000
	$10,000-$24.000	$1,500
	$25,000-$49,000	$2,000
	$50,000 and over	$2,500 plus $200 for each additional
		$10,000 value of stock in excess of $50,000
Bank License	License fee for commercial banks.
	Foreign
	Main office	$60,000
	Each additional branch	$6,000
	Local
	Main office	$40,000
	Each additional branch	$4,000
Insurance Company License	Annual registration fee for insurance companies.
	Foreign Companies
	- Life	$3,000
	- Motor Vehicle	$3,000
	- Any other insurance	$2,500
	- Insurance broker	$1,500
	- Insurance agent	$1,000
	- Insurance sub-agent	$500
	Local Companies
	-Life	$1,500
	- Motor Vehicle	$1,500
	- Any other insurance	$1,200
	- Insurance broker	$800
	- Insurance agent	$800
	- Insurance sub-agent	$500
Motor Vehicle Dealer’s License	A license to sell vehicles	$8,000 per annum
Motor Vehicle License	Goods vehicle (mechanically driven) not otherwise provided for.	$150
	Tractors fitted with pneumatic tires	$150
	Trailers:
	- less than 1 ton	$100
	- exceeding 1 ton	$300
	Front end loaders fitted with pneumatic tires	$380
	Container trailers (non-motorized)	$1,000
	Truck, Tractor (for hauling containers and other units)	$500
			The license covers a period of 3 years.
	Drivers	$150 for 3 years
	Learners	$50
	Duplicate	$10
	Visitors	$30
	Registration of motor vehicle	$30
	Annual registration fees as follows:
	- Motorcycle	$80
	- Motorcycle with side car	$100
	- Private motor car
	less than 2,800 lbs.	$150
	More than 2,800 lbs.	$180
	Hire car or taxi
	- less than 2,00 lbs.	$180
	- more than 2,800 lbs.	$200
	Passenger vehicles
	- up to 9 seats	$200
	- 10 to 14 seats	$300
	- 15 to 25 seats	$400
	- over 25 seats	$500
	Goods vehicles
	- less than 1 ton	$180
Motor Vehicle License (cont.)	- 1 ton to 3 tons	$250
	- 3 tons to 5 tons	$350
	- more than 5 tons, each additional ton over 5 tons, rate per additional ton	$50
	Hearse	$500
5. Taxes on International Trade and Transactions	Imports are subject to the Common External Tariff of the Eastern Caribbean Common		On the C.I.F. value of the imported goods. Exemptions include goods for industry, agriculture, fisheries, cultural and sporting purposes.	Imports by government, governmental organizations and statutory bodies. Goods for educational, cultural and health purposes are also exempt. Representatives of regional Commonwealth and International governments and organizations (excluding their families). Government approved regional and International welfare organizations; individuals studying and seeking medical attention abroad; imports for non-profit organizations; government pensions to persons resident abroad.
5.1 Import Duties	Market:
	- Live animals	0 or 40 percent
	- Meat and edible meat offal	0 or 40 percent
	- Dairy products	0 to 20 percent
	- Edible vegetables, roots and tubers	5 to 40
	- Edible fruits and nuts	5 to 40 percent
	- Coffee, tea mate, spices	5 to 40 percent
	- Cereals	5 to 40 percent
	- Animal or vegetable fats and oils	5 to 40 percent
	- Spirits
	Beer	$10.00 per L. Gal.
	Whiskey	45 percent
	Rum	45 percent
	-Textile and textile articles	5 to 30 percent
	- Precious and semi-precious stones	30 percent
	- Machinery and machine appliances	5 to 35 percent
	- Medical instruments	10 percent
	- Clocks and watches	0 and 30 percent
	- Musical instruments	10 and 20 percent
	- Arms and ammunition	to 70 percent
5.2 Consumption Tax on Imports	Ad Volorem and specific rates on imported goods as follows:	Ranges from 0 percent to 35 percent
	Travel goods, carpets, bed linens, footwear, electrical appliances and watches.	0 to 35 percent
	Motor vehicle parts	0 to 25 percent
	Jewelry, Gramophone and records	0 to 35 percent
	Champagne	25 percent
	Cigarettes	50 percent
5.3 Customs Service Change	Levied on the C.I.F. value of imports.	5 percent
5.4 Airport Departure Tax	Paid by passengers embarking at airport for external flights:	$35
	St. Lucian Nationals	$35
	CARICOM nationals traveling within Caribbean Community	$54
	All other travelers
5.5 Travel Tax	Levied on the cost of tickets issued by a carrier in St. Lucia.	7.5 percent
5.6 Marketing tax	Levied on individuals from overseas	US$5
5.7 Environmental Levy	Levied on Motor Vehicles	$1000 to $12,000 per vehicle
	Tires	$5 and 10 per tire
	Used refrigerators and freezers	$20 per unit
	Electric accumulators (batteries)	$10 per unit
	Goods in containers made of plastic, glass, metal or paperboard	1.5 percent of C.I.F. value
	Empty containers made of plastic, glass metal or paperboard	1.5 percent of C.I.F. value
	All other imported goods, except clothing footwear, foodstuffs, or pharmaceuticals	1.0 percent of C.I.F. value
5.8 Cellular Telephone Tax	All mobile cellular phone calls made by (a) a customer and (b) by a roamer	(a) Customer: 10 percent (b) Roamer: 10 percent	Applied to mobile cellular phone bills issued by a telecommunications provider	The Minister of Finance may exempt certain persons or organizations from the cellular tax
6.0 Airport Security Charge	Levied on cost of airline tickets	US$5.00 per person

St. Lucia: Summary of the Tax System

(as of October 31, 2003)

Type of Tax	Tax Base	Tax Rate	Method of Application	Exemptions and Deductions
1. Income Profits and Capital Gains				Allowances:
1.1 Personal Income Tax	On chargeable income: $1-$10,000 $10,001-$20,000 $20,001-$30,000 $30,001 and over	10 percent 15 percent 20 percent 30 percent	Applied at graduated rates after granting personal deductions and other itemized deductions.	Personal - 16,000; spouse (1,500); child (1,000); Education child-10 years and over attending school (2,000); Higher education, - relative attending university (5,000); housekeeper (200); dependent relative (350); Medical - 400 or any substantiated by receipts.
				Deductions: Life & national insurances - maximum - 1/10 assessable income or 8,000, Mortgage interest - maximum of 15,000, House insurance and taxes, credit union shares - 3,600 - maximum, Annuity Pension Plan - maximum 6,000. New shares in resident public company - maximum - 5000, Registered Home Ownership plan, 6000 maximum, Solar water heater - 6500, max. Donations to charitable organizations under a deed of covenant - maximum 25 percent of assessable income. Student loan interest - 3,000 maximum. For self employed individuals - all expensive wholly and exclusively incurred for the purpose of producing assessable income. Capital allowance - on assets (10-33⅓ percent)
				Exemptions: Emoluments of the Governor General and the Permanent Consular members; wounded and disability pensions; Allowances paid to public officers, scholarships, Superannuation funds, Agricultural income, Dividends, interest from banks in St. Lucia, first gratuity, Tips paid to certain categories of hotel workers, the first 6,000 of pension income and first gratuity Income of a minister of religion or person in holy orders.
1.2 Corporate Income Tax	On the income of resident companies and from non-resident companies earned from carrying on business in St. Lucia.	33 percent	The advance payment of taxes, (Quarterly Installments) based on chargeable income for the previous year.	Deduction: All expenses wholly and exclusively incurred in the production of income. Capital allowance; - Year of purchase - initial -20 percent Annual allowance varies according to asset. (5–33⅓ percent). Losses from prior years up to 1/2 (50 percent) of assessable income of the subsequent year and thereafter, until loss is fully utilized or a six year period, whichever is the earlier.
1.2 a). Small Businesses	-do-	Yr(1) -15 percent Yr (2) - 20 percent Yr(3) - 25 percent Yr(4) -30 percent Yr(5) & subsequent yrs - 33⅓ percent	Reduced rates to (qualified) small businesses in first 4 years of operation.
1.3 Withholding Tax	Levied on payments to nonresidents of royalties, rents, management fees, premiums, commissions, annuities and any other payments of an income nature.	25 percent	Applied directly to gross payment	Re-insurance dividends, interest or discount, lease premium license, annuities or other periodic payments by way of alimony or maintenance
1.3. a) Contract Tax	Levied on payments to contractor and sub-contractors, for labour, labour and material, hiring of equipment., surrender to life insurance policy, where maturity is not earlier than ten years from the date of affected. Termination of approved pension fund	10 percent	Applied to gross amount being paid.
1.3. a) Contract Tax		25 percent	-do-
3. Property Tax				Exemptions:
3.1 House	Levied on annual assessed rental value.	5 percent		House owner, who has reached pensionable age, and whose sole income is a retirement benefit under the N.I.C. scheme, and whose residence is used exclusively to accommodate him and his family.
3.1 a). Commercial	Market value of Property	25 percent	New property completed after April 2001.	Owner occupied property where the household income is less than
3.1 b) Combination		Determined by Comptroller	Government buildings used for public purposes; buildings owned and used by the University of the West Indies; and public shelters.	$ 6,000. First time house owners for a period of not more than 3 years.
				Rate of exemption:
Mortgage value;
up to –	200,000 –	100 percent
200,001 –	400,000 –	75 percent
400,001 –	600, 000 –	50 percent
600,000 –		–25 percent
3.2 Land Tax	On the area of lands as follows: 0-50 acres 50-100 acres 100-500 acres Exceeding 500 acres	$0.25 per acre or part thereof $0.50 per acre or part thereof $0.75 per acre or part thereof $1 per acre or part thereof		Exemption: Land less than 10 acres.
3.3 Property Transfer Tax	A stamp duty payable on the sale of immovable property: Local transfer			None
	- $0 to $50,000 - on the next $25,000 - on the next $75,000 Over $75,000 If the vendor is a foreigner.	0 percent 2.5 percent 3.5 percent 5 percent 10 percent
4. Taxes on Domestic Goods and services
4.1 Consumption Tax on locally produced goods	Wholesale whole sale price of locally produce goods.	The general rate is 0-35 percent. (See 5.2)	Levied on the wholesale price of locally produce goods.	Exemptions are provided in accordance with Fiscal Incentives Act, Tourism Incentives Act and a number of other pieces of legislation and governmental agreements
4.2 Excise Tax	Levied on locally manufactured and imported alcoholic beverages, motor vehicles and explosives.	Alcoholic beverages: $0.44 to $13.66 per liter. Motor Vehicles: 20.5 percent to 85 percent. Explosives: 60 percent to 85 percent.	Based on CIF value for imports and wholesale price for locally produced goods.	Undenatured rum (strong rum), if used as an input into manufacture of alcoholic beverages, is exempted from excise tax
4.3 Hotel Accommodation Tax		8 percent		Exemption:
4.3 a). Small Hotel	(1) Levied on the proceeds of the letting of all hotel accommodation of an hotel operator.	8 percent		1. Guest accommodated in a non-charge or complimentary room offered for promotional purposes only.
4.3 b). All inclusive	(2) Levied on the advertised packaged price payable by the guest for accommodation., on the basis of US$8 per person per night.			2. A child, who is under the age of 12 years and is not accommodated separately from the person accompanying that child, who is also a guest at that hotel.
4.4 Insurance Premium Plan	Levied on the value of insurance premium: Life (resident) Life (foreign) General (resident) General (foreign)	1.5 percent on balance premium income. 3 percent on balance premium income. 3 percent on gross premiums. 5 percent		None
4.7 Licenses
Alien Land Holding Tax	(a) License as an owner. (b) License to hold land as lease at;	7.5 percent
	1. Fixed rental rate	5 percent of value of consideration paid.
	2. Progressive rental over the years.	5 percent of the accumulated fixed rental payable under the lease and 5 percent of the accumulated rental.
	(c) License to hold:	5 percent of consideration paid, based on the book or open market value, whichever is the greater.
	1. Shares, stocks or debentures in a company incorporated in St. Lucia	5 percent of the value of trust property 5 percent of consideration paid, based on the book or open market value, whichever is the greater.
	2. Land in trust
	3. Shares, stock or debentures in trust.
Liquor	Permits the holder to sell liquor as follows:	Per half year.
	In Castries, Soufriere and Vieux
	Fort - Beer	$120
	- Boarding house	$300
	- Clubs	$120
	- Grocers retail	$500
	Beyond the city of Castries,
	Soufriere and Vieux Fort
	- Beer	$60
	- Boarding house	$240
	- Clubs	$120
	- Grocers retail	$300
	Hotels
	In Castries, Soufriere and Vieux
	Fort and beyond their city limits
	Less than 20 rooms	$375
	20-39 rooms	$900
	40-59 rooms	$1,875
	60-99 rooms	$3,000
	100-169 rooms	$4,500
	170 rooms and over	$6,000
	Refreshment House
	- In city limits	$280
	- Beyond city limits	$185
	Restaurant
	- In city limits	$300
	- Beyond city limits	$300
	Retail	Per half year
	- In city limits	$180
	- Beyond city limits	$135
	Wholesale
	- In city limits	$1,500 and $1,000
	- Beyond city limits	$500
	Occasional (for each day or part thereof)
	- In city limits	$50
	- Beyond city limits	$25
Telecommunications license
	UHF/VHF Commercial Radio
	(a) base and mobile	$40 per annum
	(b) hand held	$25 per annum
	Portable
	(c) repeater (private)	$200 per annum
	(d) repeater (public)	$500 per annum
	Aeronautical Radio Station	$100 per annum
	Amateur Radio
	(a) initial license	$40
	(b) annual license	$25
	Paging System	$500 per annum
	Maritime
	- base station, mobile or hand held	$75 per annum
	- fishing vessels over 40 ft.	$50 per annum
	- non-fishing vessels
	less than 40 ft.	$75 per annum
	more than 40 ft.	$200 per annum
	UHF/VHF Commercial Land
	Mobile
	Frequency
	Satellite Dish
	- commercial
	- noncommercial
	Fixed Public Network	3% Gross Revenue
Telecommunications License	Public Mobile Network	3% Gross Revenue
Initial and Annual Fee Collected by the IRD	Internet Network & Services	3% Gross Revenue
	Internet Service Provision	3% Gross Revenue
Trade License	License to carry on retail trade as follows:
	$0-9,999	$1,000
	$10,000-$24.000	$1,500
	$25,000-$49,000	$2,000
	$50,000 and over	$2,500 plus $200 for each additional
		$10,000 value of stock in excess of $50,000
Bank License	License fee for commercial banks.
	Foreign
	Main office	$60,000
	Each additional branch	$6,000
	Local
	Main office	$40,000
	Each additional branch	$4,000
Insurance Company License	Annual registration fee for insurance companies.
	Foreign Companies
	- Life	$3,000
	- Motor Vehicle	$3,000
	- Any other insurance	$2,500
	- Insurance broker	$1,500
	- Insurance agent	$1,000
	- Insurance sub-agent	$500
	Local Companies
	-Life	$1,500
	- Motor Vehicle	$1,500
	- Any other insurance	$1,200
	- Insurance broker	$800
	- Insurance agent	$800
	- Insurance sub-agent	$500
Motor Vehicle Dealer’s License	A license to sell vehicles	$8,000 per annum
Motor Vehicle License	Goods vehicle (mechanically driven) not otherwise provided for.	$150
	Tractors fitted with pneumatic tires	$150
	Trailers:
	- less than 1 ton	$100
	- exceeding 1 ton	$300
	Front end loaders fitted with pneumatic tires	$380
	Container trailers (non-motorized)	$1,000
	Truck, Tractor (for hauling containers and other units)	$500
			The license covers a period of 3 years.
	Drivers	$150 for 3 years
	Learners	$50
	Duplicate	$10
	Visitors	$30
	Registration of motor vehicle	$30
	Annual registration fees as follows:
	- Motorcycle	$80
	- Motorcycle with side car	$100
	- Private motor car
	less than 2,800 lbs.	$150
	More than 2,800 lbs.	$180
	Hire car or taxi
	- less than 2,00 lbs.	$180
	- more than 2,800 lbs.	$200
	Passenger vehicles
	- up to 9 seats	$200
	- 10 to 14 seats	$300
	- 15 to 25 seats	$400
	- over 25 seats	$500
	Goods vehicles
	- less than 1 ton	$180
Motor Vehicle License (cont.)	- 1 ton to 3 tons	$250
	- 3 tons to 5 tons	$350
	- more than 5 tons, each additional ton over 5 tons, rate per additional ton	$50
	Hearse	$500
5. Taxes on International Trade and Transactions	Imports are subject to the Common External Tariff of the Eastern Caribbean Common		On the C.I.F. value of the imported goods. Exemptions include goods for industry, agriculture, fisheries, cultural and sporting purposes.	Imports by government, governmental organizations and statutory bodies. Goods for educational, cultural and health purposes are also exempt. Representatives of regional Commonwealth and International governments and organizations (excluding their families). Government approved regional and International welfare organizations; individuals studying and seeking medical attention abroad; imports for non-profit organizations; government pensions to persons resident abroad.
5.1 Import Duties	Market:
	- Live animals	0 or 40 percent
	- Meat and edible meat offal	0 or 40 percent
	- Dairy products	0 to 20 percent
	- Edible vegetables, roots and tubers	5 to 40
	- Edible fruits and nuts	5 to 40 percent
	- Coffee, tea mate, spices	5 to 40 percent
	- Cereals	5 to 40 percent
	- Animal or vegetable fats and oils	5 to 40 percent
	- Spirits
	Beer	$10.00 per L. Gal.
	Whiskey	45 percent
	Rum	45 percent
	-Textile and textile articles	5 to 30 percent
	- Precious and semi-precious stones	30 percent
	- Machinery and machine appliances	5 to 35 percent
	- Medical instruments	10 percent
	- Clocks and watches	0 and 30 percent
	- Musical instruments	10 and 20 percent
	- Arms and ammunition	to 70 percent
5.2 Consumption Tax on Imports	Ad Volorem and specific rates on imported goods as follows:	Ranges from 0 percent to 35 percent
	Travel goods, carpets, bed linens, footwear, electrical appliances and watches.	0 to 35 percent
	Motor vehicle parts	0 to 25 percent
	Jewelry, Gramophone and records	0 to 35 percent
	Champagne	25 percent
	Cigarettes	50 percent
5.3 Customs Service Change	Levied on the C.I.F. value of imports.	5 percent
5.4 Airport Departure Tax	Paid by passengers embarking at airport for external flights:	$35
	St. Lucian Nationals	$35
	CARICOM nationals traveling within Caribbean Community	$54
	All other travelers
5.5 Travel Tax	Levied on the cost of tickets issued by a carrier in St. Lucia.	7.5 percent
5.6 Marketing tax	Levied on individuals from overseas	US$5
5.7 Environmental Levy	Levied on Motor Vehicles	$1000 to $12,000 per vehicle
	Tires	$5 and 10 per tire
	Used refrigerators and freezers	$20 per unit
	Electric accumulators (batteries)	$10 per unit
	Goods in containers made of plastic, glass, metal or paperboard	1.5 percent of C.I.F. value
	Empty containers made of plastic, glass metal or paperboard	1.5 percent of C.I.F. value
	All other imported goods, except clothing footwear, foodstuffs, or pharmaceuticals	1.0 percent of C.I.F. value
5.8 Cellular Telephone Tax	All mobile cellular phone calls made by (a) a customer and (b) by a roamer	(a) Customer: 10 percent (b) Roamer: 10 percent	Applied to mobile cellular phone bills issued by a telecommunications provider	The Minister of Finance may exempt certain persons or organizations from the cellular tax
6.0 Airport Security Charge	Levied on cost of airline tickets	US$5.00 per person

Other Publishers

Save
Cite
Email this content

Share Link

Copy this link, or click below to email it to a friend
Email this content
or copy the link directly:

https://www.elibrary.imf.org/view/journals/002/2004/401/article-A001-en.xml
The link was not copied. Your current browser may not support copying via this button.

Link copied successfully

Collapse
Expand

St. Lucia: Statistical Appendix

Author:

International Monetary Fund

Volume/Issue:: Volume 2004: Issue 401

Publisher:: International Monetary Fund

ISBN:: 9781451823219

ISSN:: 1934-7685

Pages:: 47

DOI:: https://doi.org/10.5089/9781451823219.002

Keywords

Foresee

St. Lucia: Summary of the Tax System

(as of October 31, 2003)

Type of Tax	Tax Base	Tax Rate	Method of Application	Exemptions and Deductions
1. Income Profits and Capital Gains				Allowances:
1.1 Personal Income Tax	On chargeable income: $1-$10,000 $10,001-$20,000 $20,001-$30,000 $30,001 and over	10 percent 15 percent 20 percent 30 percent	Applied at graduated rates after granting personal deductions and other itemized deductions.	Personal - 16,000; spouse (1,500); child (1,000); Education child-10 years and over attending school (2,000); Higher education, - relative attending university (5,000); housekeeper (200); dependent relative (350); Medical - 400 or any substantiated by receipts.
				Deductions: Life & national insurances - maximum - 1/10 assessable income or 8,000, Mortgage interest - maximum of 15,000, House insurance and taxes, credit union shares - 3,600 - maximum, Annuity Pension Plan - maximum 6,000. New shares in resident public company - maximum - 5000, Registered Home Ownership plan, 6000 maximum, Solar water heater - 6500, max. Donations to charitable organizations under a deed of covenant - maximum 25 percent of assessable income. Student loan interest - 3,000 maximum. For self employed individuals - all expensive wholly and exclusively incurred for the purpose of producing assessable income. Capital allowance - on assets (10-33⅓ percent)
				Exemptions: Emoluments of the Governor General and the Permanent Consular members; wounded and disability pensions; Allowances paid to public officers, scholarships, Superannuation funds, Agricultural income, Dividends, interest from banks in St. Lucia, first gratuity, Tips paid to certain categories of hotel workers, the first 6,000 of pension income and first gratuity Income of a minister of religion or person in holy orders.
1.2 Corporate Income Tax	On the income of resident companies and from non-resident companies earned from carrying on business in St. Lucia.	33 percent	The advance payment of taxes, (Quarterly Installments) based on chargeable income for the previous year.	Deduction: All expenses wholly and exclusively incurred in the production of income. Capital allowance; - Year of purchase - initial -20 percent Annual allowance varies according to asset. (5–33⅓ percent). Losses from prior years up to 1/2 (50 percent) of assessable income of the subsequent year and thereafter, until loss is fully utilized or a six year period, whichever is the earlier.
1.2 a). Small Businesses	-do-	Yr(1) -15 percent Yr (2) - 20 percent Yr(3) - 25 percent Yr(4) -30 percent Yr(5) & subsequent yrs - 33⅓ percent	Reduced rates to (qualified) small businesses in first 4 years of operation.
1.3 Withholding Tax	Levied on payments to nonresidents of royalties, rents, management fees, premiums, commissions, annuities and any other payments of an income nature.	25 percent	Applied directly to gross payment	Re-insurance dividends, interest or discount, lease premium license, annuities or other periodic payments by way of alimony or maintenance
1.3. a) Contract Tax	Levied on payments to contractor and sub-contractors, for labour, labour and material, hiring of equipment., surrender to life insurance policy, where maturity is not earlier than ten years from the date of affected. Termination of approved pension fund	10 percent	Applied to gross amount being paid.
1.3. a) Contract Tax		25 percent	-do-
3. Property Tax				Exemptions:
3.1 House	Levied on annual assessed rental value.	5 percent		House owner, who has reached pensionable age, and whose sole income is a retirement benefit under the N.I.C. scheme, and whose residence is used exclusively to accommodate him and his family.
3.1 a). Commercial	Market value of Property	25 percent	New property completed after April 2001.	Owner occupied property where the household income is less than
3.1 b) Combination		Determined by Comptroller	Government buildings used for public purposes; buildings owned and used by the University of the West Indies; and public shelters.	$ 6,000. First time house owners for a period of not more than 3 years.
				Rate of exemption:
Mortgage value;
up to –	200,000 –	100 percent
200,001 –	400,000 –	75 percent
400,001 –	600, 000 –	50 percent
600,000 –		–25 percent
3.2 Land Tax	On the area of lands as follows: 0-50 acres 50-100 acres 100-500 acres Exceeding 500 acres	$0.25 per acre or part thereof $0.50 per acre or part thereof $0.75 per acre or part thereof $1 per acre or part thereof		Exemption: Land less than 10 acres.
3.3 Property Transfer Tax	A stamp duty payable on the sale of immovable property: Local transfer			None
	- $0 to $50,000 - on the next $25,000 - on the next $75,000 Over $75,000 If the vendor is a foreigner.	0 percent 2.5 percent 3.5 percent 5 percent 10 percent
4. Taxes on Domestic Goods and services
4.1 Consumption Tax on locally produced goods	Wholesale whole sale price of locally produce goods.	The general rate is 0-35 percent. (See 5.2)	Levied on the wholesale price of locally produce goods.	Exemptions are provided in accordance with Fiscal Incentives Act, Tourism Incentives Act and a number of other pieces of legislation and governmental agreements
4.2 Excise Tax	Levied on locally manufactured and imported alcoholic beverages, motor vehicles and explosives.	Alcoholic beverages: $0.44 to $13.66 per liter. Motor Vehicles: 20.5 percent to 85 percent. Explosives: 60 percent to 85 percent.	Based on CIF value for imports and wholesale price for locally produced goods.	Undenatured rum (strong rum), if used as an input into manufacture of alcoholic beverages, is exempted from excise tax
4.3 Hotel Accommodation Tax		8 percent		Exemption:
4.3 a). Small Hotel	(1) Levied on the proceeds of the letting of all hotel accommodation of an hotel operator.	8 percent		1. Guest accommodated in a non-charge or complimentary room offered for promotional purposes only.
4.3 b). All inclusive	(2) Levied on the advertised packaged price payable by the guest for accommodation., on the basis of US$8 per person per night.			2. A child, who is under the age of 12 years and is not accommodated separately from the person accompanying that child, who is also a guest at that hotel.
4.4 Insurance Premium Plan	Levied on the value of insurance premium: Life (resident) Life (foreign) General (resident) General (foreign)	1.5 percent on balance premium income. 3 percent on balance premium income. 3 percent on gross premiums. 5 percent		None
4.7 Licenses
Alien Land Holding Tax	(a) License as an owner. (b) License to hold land as lease at;	7.5 percent
	1. Fixed rental rate	5 percent of value of consideration paid.
	2. Progressive rental over the years.	5 percent of the accumulated fixed rental payable under the lease and 5 percent of the accumulated rental.
	(c) License to hold:	5 percent of consideration paid, based on the book or open market value, whichever is the greater.
	1. Shares, stocks or debentures in a company incorporated in St. Lucia	5 percent of the value of trust property 5 percent of consideration paid, based on the book or open market value, whichever is the greater.
	2. Land in trust
	3. Shares, stock or debentures in trust.
Liquor	Permits the holder to sell liquor as follows:	Per half year.
	In Castries, Soufriere and Vieux
	Fort - Beer	$120
	- Boarding house	$300
	- Clubs	$120
	- Grocers retail	$500
	Beyond the city of Castries,
	Soufriere and Vieux Fort
	- Beer	$60
	- Boarding house	$240
	- Clubs	$120
	- Grocers retail	$300
	Hotels
	In Castries, Soufriere and Vieux
	Fort and beyond their city limits
	Less than 20 rooms	$375
	20-39 rooms	$900
	40-59 rooms	$1,875
	60-99 rooms	$3,000
	100-169 rooms	$4,500
	170 rooms and over	$6,000
	Refreshment House
	- In city limits	$280
	- Beyond city limits	$185
	Restaurant
	- In city limits	$300
	- Beyond city limits	$300
	Retail	Per half year
	- In city limits	$180
	- Beyond city limits	$135
	Wholesale
	- In city limits	$1,500 and $1,000
	- Beyond city limits	$500
	Occasional (for each day or part thereof)
	- In city limits	$50
	- Beyond city limits	$25
Telecommunications license
	UHF/VHF Commercial Radio
	(a) base and mobile	$40 per annum
	(b) hand held	$25 per annum
	Portable
	(c) repeater (private)	$200 per annum
	(d) repeater (public)	$500 per annum
	Aeronautical Radio Station	$100 per annum
	Amateur Radio
	(a) initial license	$40
	(b) annual license	$25
	Paging System	$500 per annum
	Maritime
	- base station, mobile or hand held	$75 per annum
	- fishing vessels over 40 ft.	$50 per annum
	- non-fishing vessels
	less than 40 ft.	$75 per annum
	more than 40 ft.	$200 per annum
	UHF/VHF Commercial Land
	Mobile
	Frequency
	Satellite Dish
	- commercial
	- noncommercial
	Fixed Public Network	3% Gross Revenue
Telecommunications License	Public Mobile Network	3% Gross Revenue
Initial and Annual Fee Collected by the IRD	Internet Network & Services	3% Gross Revenue
	Internet Service Provision	3% Gross Revenue
Trade License	License to carry on retail trade as follows:
	$0-9,999	$1,000
	$10,000-$24.000	$1,500
	$25,000-$49,000	$2,000
	$50,000 and over	$2,500 plus $200 for each additional
		$10,000 value of stock in excess of $50,000
Bank License	License fee for commercial banks.
	Foreign
	Main office	$60,000
	Each additional branch	$6,000
	Local
	Main office	$40,000
	Each additional branch	$4,000
Insurance Company License	Annual registration fee for insurance companies.
	Foreign Companies
	- Life	$3,000
	- Motor Vehicle	$3,000
	- Any other insurance	$2,500
	- Insurance broker	$1,500
	- Insurance agent	$1,000
	- Insurance sub-agent	$500
	Local Companies
	-Life	$1,500
	- Motor Vehicle	$1,500
	- Any other insurance	$1,200
	- Insurance broker	$800
	- Insurance agent	$800
	- Insurance sub-agent	$500
Motor Vehicle Dealer’s License	A license to sell vehicles	$8,000 per annum
Motor Vehicle License	Goods vehicle (mechanically driven) not otherwise provided for.	$150
	Tractors fitted with pneumatic tires	$150
	Trailers:
	- less than 1 ton	$100
	- exceeding 1 ton	$300
	Front end loaders fitted with pneumatic tires	$380
	Container trailers (non-motorized)	$1,000
	Truck, Tractor (for hauling containers and other units)	$500
			The license covers a period of 3 years.
	Drivers	$150 for 3 years
	Learners	$50
	Duplicate	$10
	Visitors	$30
	Registration of motor vehicle	$30
	Annual registration fees as follows:
	- Motorcycle	$80
	- Motorcycle with side car	$100
	- Private motor car
	less than 2,800 lbs.	$150
	More than 2,800 lbs.	$180
	Hire car or taxi
	- less than 2,00 lbs.	$180
	- more than 2,800 lbs.	$200
	Passenger vehicles
	- up to 9 seats	$200
	- 10 to 14 seats	$300
	- 15 to 25 seats	$400
	- over 25 seats	$500
	Goods vehicles
	- less than 1 ton	$180
Motor Vehicle License (cont.)	- 1 ton to 3 tons	$250
	- 3 tons to 5 tons	$350
	- more than 5 tons, each additional ton over 5 tons, rate per additional ton	$50
	Hearse	$500
5. Taxes on International Trade and Transactions	Imports are subject to the Common External Tariff of the Eastern Caribbean Common		On the C.I.F. value of the imported goods. Exemptions include goods for industry, agriculture, fisheries, cultural and sporting purposes.	Imports by government, governmental organizations and statutory bodies. Goods for educational, cultural and health purposes are also exempt. Representatives of regional Commonwealth and International governments and organizations (excluding their families). Government approved regional and International welfare organizations; individuals studying and seeking medical attention abroad; imports for non-profit organizations; government pensions to persons resident abroad.
5.1 Import Duties	Market:
	- Live animals	0 or 40 percent
	- Meat and edible meat offal	0 or 40 percent
	- Dairy products	0 to 20 percent
	- Edible vegetables, roots and tubers	5 to 40
	- Edible fruits and nuts	5 to 40 percent
	- Coffee, tea mate, spices	5 to 40 percent
	- Cereals	5 to 40 percent
	- Animal or vegetable fats and oils	5 to 40 percent
	- Spirits
	Beer	$10.00 per L. Gal.
	Whiskey	45 percent
	Rum	45 percent
	-Textile and textile articles	5 to 30 percent
	- Precious and semi-precious stones	30 percent
	- Machinery and machine appliances	5 to 35 percent
	- Medical instruments	10 percent
	- Clocks and watches	0 and 30 percent
	- Musical instruments	10 and 20 percent
	- Arms and ammunition	to 70 percent
5.2 Consumption Tax on Imports	Ad Volorem and specific rates on imported goods as follows:	Ranges from 0 percent to 35 percent
	Travel goods, carpets, bed linens, footwear, electrical appliances and watches.	0 to 35 percent
	Motor vehicle parts	0 to 25 percent
	Jewelry, Gramophone and records	0 to 35 percent
	Champagne	25 percent
	Cigarettes	50 percent
5.3 Customs Service Change	Levied on the C.I.F. value of imports.	5 percent
5.4 Airport Departure Tax	Paid by passengers embarking at airport for external flights:	$35
	St. Lucian Nationals	$35
	CARICOM nationals traveling within Caribbean Community	$54
	All other travelers
5.5 Travel Tax	Levied on the cost of tickets issued by a carrier in St. Lucia.	7.5 percent
5.6 Marketing tax	Levied on individuals from overseas	US$5
5.7 Environmental Levy	Levied on Motor Vehicles	$1000 to $12,000 per vehicle
	Tires	$5 and 10 per tire
	Used refrigerators and freezers	$20 per unit
	Electric accumulators (batteries)	$10 per unit
	Goods in containers made of plastic, glass, metal or paperboard	1.5 percent of C.I.F. value
	Empty containers made of plastic, glass metal or paperboard	1.5 percent of C.I.F. value
	All other imported goods, except clothing footwear, foodstuffs, or pharmaceuticals	1.0 percent of C.I.F. value
5.8 Cellular Telephone Tax	All mobile cellular phone calls made by (a) a customer and (b) by a roamer	(a) Customer: 10 percent (b) Roamer: 10 percent	Applied to mobile cellular phone bills issued by a telecommunications provider	The Minister of Finance may exempt certain persons or organizations from the cellular tax
6.0 Airport Security Charge	Levied on cost of airline tickets	US$5.00 per person

Topics

Countries

Series

About

Resources

Abstract

Same Series

Other IMF Content

Other Publishers

Asian Development Bank

Food and Agriculture Organization

Inter-American Development Bank

International Labour Organization

The World Bank

Share Link

Table of Contents

Headings

Metrics

Foresee