On all three islands of the Caribbean Netherlands, Gross Domestic Product (GDP) expanded in 2015. The highest growth rate was seen in Bonaire with three per cent, rising to a total GDP value of US $415 million.
On St. Eustatius, the GDP value increased by 2.1 per cent to $102 million, while on Saba GDP grew by 1.6 per cent to a value of $47 million. The collective GDP of these three islands therefore stood at $564 million in 2015.
Aside from its value, the volume of GDP also increased. Changes in GDP volume refer to developments in the value of GPD, adjusted for price changes.
On Bonaire, the GDP volume went up by 3.4 per cent, on Statia by 3.2 per cent and on Saba by 1.2 per cent. The price correction is based on price indices for household consumption.
The highest GDP per capita in 2015 was recorded on Statia at $26,600. GDP per capita on Saba and Bonaire amounted to $24,900 and $21,700, respectively.
Since 2012 when Central Bureau for Statistics (CBS) started measuring GDP in the Caribbean Netherlands, GDP per capita has grown fastest on Saba. The value of GDP per capita on that island increased by 16.4 per cent: from $21,400 in 2012 to $24,900 in 2015.
On Statia, the value of GDP per capita rose in 2015 relative to 2012 by 1.1 per cent. On Bonaire, the value of GDP per capita fell slightly by 0.9 per cent, from $21,900 in 2012 to $21,700 in 2015.
The Daily Herald.
Wonderful to read about the GDP based on 2015. We did well that year. By the way for those who do not understand what the GDP stands for, the following explanation:
Gross domestic product (GDP) is the best way to measure a country’s economy. GDP is the total value of everything produced by all the people and companies in the country. It doesn’t matter if they are citizens or foreign-owned companies. If they are located within the country’s boundaries, the government counts their production as GDP.
The fact is that we are now living in 2017, two years later, struggling with the aftermath of Hurricanes. Why do we have to read about these statistics facts while most of us are struggling to make ends meet.
I hope that the department of Economic affairs and the bureau for Central Statistics (CBI) get their act together and focus on the present situation which will give them a complete different picture.