EMBARGOED UNTIL RELEASE AT 10:00 a.m. EDT, Monday, June 17, 2024
EMBARGOED UNTIL RELEASE AT 10:00 a.m. EDT, Monday, June 17, 2024 BEA 24–24 Technical: Christina Hovland (BEA) 301-278-9076 Territories@bea.gov Media: Connie O’Connell (BEA) Melissa Braybrooks (OIA) 301-278-9003 202-336-2651 Connie.OConnell@bea.gov Melissa_Braybrooks@ios.doi.gov Gross Domestic Product for the U.S. Virgin Islands, 2022 Gross Domestic Product by Industry and Compensation by Industry, 2021 Real gross domestic product (GDP) for the U.S. Virgin Islands (USVI) decreased 1.3 percent in 2022 after increasing 3.7 percent in 2021 (table 1.3), according to statistics released today by the U.S. Bureau of Economic Analysis (BEA). These statistics were developed under the Statistical Improvement Program funded by the Office of Insular Affairs of the U.S. Department of the Interior. GDP for 2022 The decrease in real GDP reflected declines in exports, private fixed investment, government spending, and personal consumption expenditures that were partly offset by an increase in inventory investment (chart 1). Imports, a subtraction item in the calculation of GDP, decreased. …
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