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- more - EMBARGOED UNTIL RELEASE AT 9:30 A.M. EST, WEDNESDAY, DECEMBER 16, 2015 Aya Hamano: (202) 606-9683 (BEA) BEA 15-63 Tanya Harris Joshua: (202) 208-6008 (OIA) THE BUREAU OF ECONOMIC ANALYSIS (BEA) RELEASES 2014 ESTIMATES OF GROSS DOMESTIC PRODUCT FOR THE U.S. VIRGIN ISLANDS CHARLOTTE AMALIE, U.S. VIRGIN ISLANDS (December 16, 2015) -- Today, the Bureau of Economic Analysis (BEA) is releasing estimates of gross domestic product (GDP) for the U.S. Virgin Islands for 2014, in addition to estimates of GDP by industry and compensation by industry for 2013.1 These estimates were developed under the Statistical Improvement Program funded by the Office of Insular Affairs (OIA) of the U.S. Department of the Interior. This release also includes the results of the first comprehensive revision of the territorial economic accounts. Revised estimates of GDP, GDP by industry, and compensation by industry are presented, extending back to 2002. Gross Domestic Product for 2014 The Virgin Islands economy continued to contract in 2014, although at a much slower rate than in the previous 3 years. The estimates of GDP for the U.S. Virgin Islands show that real GDP -- GDP adjusted to remove price changes -- decreased 0.6 percent in 2014 (see Table 1.3). For comparison, real GDP for the U.S. (excluding the territories) increased 2.4 percent in 2014. The decline in the Virgin Islands economy primarily reflected a decrease in government spending (see Table 1.4).2 The decrease in government spending reflected declines in compensation paid to federal government employees and in federal government construction activity. Exports of goods increased significantly, primarily due to growth in exports of petroleum and petroleum products. However, this growth was mostly offset by growth in imports of petroleum -- a subtraction item in the calculation of GDP -- and by a drawdown of inventories. Exports of services, which consists primarily of spending by tourists, contributed positively to the economy. Growth in tourism reflected an increase in visitor arrivals of 4.2 percent. Gross Domestic Product by Industry and Compensation by Industry for 2013 The estimates of GDP by industry show that the private sector was the primary source of the decline in real GDP in 2013 (see Table 2.5). Goods-producing industries declined 27.0 percent in 2013, reflecting the loss of the petroleum refining industry (see Table 2.4). 1 These estimates are based on limited source data and are subject to revision. 2 In this news release, “government spending” refers to “government consumption expenditures and gross investment.” NEWS RELEASE - 2 - - more - The compensation by industry estimates, which are measured in current dollars, show trends in compensation for major industries (see Table 2.6). Total compensation decreased in 2013; the largest contributor to the decrease was goods-producing industries. This was partly offset by an increase in compensation of the wholesale and retail trade industries. The accompanying tables present estimates for GDP and its major components, GDP by industry, and compensation by industry. Also included in this release are estimates for the major components of gross domestic income. Revisions to GDP With the comprehensive revision, estimates for 2002 to 2013 have been revised in order to incorporate improvements to source data, including: • newly available and/or revised source data provided by the U.S. Virgin Islands government, • results from BEA’s latest revisions to the national accounts, and • information from the 2012 Economic Census of Island Areas, which provides the most thorough and detailed information on the structure of the U.S. Virgin Islands economy. The 2012 Economic Census of Island Areas included, for the first time, information on U.S. Virgin Islands businesses’ capital expenditures for structures and equipment. This resulted in improved estimates of private fixed investment that replaced indirect measures based on construction industry receipts and imports of capital goods. The revised estimates show a higher level of private fixed investment in the economy. Although the level of total GDP has been revised, the year-to-year pattern of inflation-adjusted growth is similar to that of the previously published estimates (see Chart 1). From 2002 to 2013, real GDP decreased at an average annual rate of 1.9 percent, compared with a decrease of 1.6 percent in the previously published estimates. - 3 - - more - Future directions Moving forward, an agreement between OIA and BEA will extend and improve the estimates of GDP for the U.S. Virgin Islands. The information provided by the U.S. Virgin Islands government will continue to be critical to the successful production of these estimates. BEA currently plans to release GDP estimates for 2015 in the summer of 2016. GDP by industry and compensation by industry estimates for 2014 will also be released at the same time. BEA’s national, international, regional, and industry statistics; the Survey of Current Business; and BEA news releases are available without charge on BEA’s Web site at www.bea.gov. By visiting the site, you can also subscribe to receive free e-mail summaries of BEA releases and announcements. Gross domestic product 1 3,269 3,453 3,799 4,439 4,504 4,803 4,250 4,203 4,339 4,239 4,095 3,785 3,670 Personal consumption expenditures 2 1,651 1,738 1,872 2,096 2,280 2,280 2,311 2,368 2,428 2,524 2,528 2,538 2,532 Goods 3 977 997 1,113 1,257 1,392 1,319 1,262 1,215 1,205 1,233 1,206 1,220 1,222 Durable goods 4 672 688 766 874 945 822 741 688 664 678 666 718 727 Nondurable goods 5 305 309 347 383 447 497 520 527 541 556 540 502 495 Foods, feeds, and beverages 6 193 192 220 229 243 258 264 277 288 305 322 319 323 Other nondurable goods 7 112 117 126 154 204 239 257 250 253 251 219 183 172 Services 8 1,552 1,665 1,753 1,891 1,964 2,075 2,184 2,156 2,233 2,323 2,402 2,436 2,467 Housing and utilities 9 407 432 461 498 526 587 632 653 655 710 745 785 785 Health care 10 121 131 150 163 175 189 216 231 243 268 288 294 292 Food services and accommodations 11 389 428 459 491 510 515 538 507 542 551 568 575 614 Other services 12 636 674 682 739 753 784 797 764 792 793 801 783 776 Net foreign travel 13 -878 -925 -994 -1,052 -1,077 -1,114 -1,135 -1,004 -1,011 -1,032 -1,080 -1,117 -1,157 Private fixed investment 14 494 367 413 531 591 529 476 393 380 363 263 274 285 Change in private inventories 15 -73 27 33 -5 -30 -540 180 210 -267 104 114 159 -16 Net exports of goods and services 16 410 584 734 1,040 765 1,532 240 123 580 100 163 -231 -193 Exports 17 4,809 6,520 8,604 11,632 12,730 14,141 18,412 10,717 12,945 14,371 3,278 2,524 2,840 Goods 18 3,911 5,575 7,587 10,556 11,628 13,002 17,255 9,696 11,922 13,329 2,186 1,395 1,671 Services 19 898 945 1,017 1,076 1,102 1,139 1,157 1,021 1,023 1,043 1,091 1,130 1,168 Imports 20 4,399 5,935 7,870 10,592 11,965 12,608 18,172 10,595 12,365 14,271 3,114 2,756 3,032 Goods 21 4,140 5,651 7,547 10,243 11,615 12,251 17,861 10,310 12,067 13,943 2,932 2,570 2,842 Services 22 260 284 323 349 350 357 311 285 298 329 182 185 190 Government consumption expenditures and gross investment 23 788 737 746 777 898 1,002 1,043 1,110 1,219 1,148 1,027 1,046 1,062 Federal 24 77 92 105 107 110 117 121 136 176 167 162 161 143 Territorial 25 711 645 641 670 789 885 922 974 1,043 981 865 885 919 NOTE. Detail may not add to total because of rounding. 2008 2010 2009 2013 2011 2012 2014 Line 2002 2003 2004 2005 2006 2007 U.S. Virgin Islands 1. Domestic Product and Income Table 1.1. Gross Domestic Product [Millions of dollars] Gross domestic product 1 3,891 3,878 3,992 4,137 4,287 4,460 4,502 4,203 4,241 3,895 3,310 3,135 3,116 Personal consumption expenditures 2 2,085 2,137 2,230 2,404 2,550 2,417 2,313 2,368 2,396 2,375 2,297 2,258 2,252 Goods 3 1,158 1,192 1,326 1,469 1,574 1,430 1,269 1,215 1,183 1,138 1,080 1,091 1,106 Durable goods 4 759 796 889 1,012 1,078 898 756 688 659 633 613 663 693 Nondurable goods 5 405 400 442 460 500 534 514 527 524 504 467 432 419 Foods, feeds, and beverages 6 243 238 269 268 268 277 267 277 287 293 291 279 275 Other nondurable goods 7 161 161 171 191 232 257 247 250 237 213 180 156 148 Services 8 1,979 2,038 2,082 2,154 2,174 2,184 2,195 2,156 2,205 2,220 2,224 2,191 2,192 Housing and utilities 9 561 568 585 610 642 646 625 653 647 652 641 637 635 Health care 10 161 163 176 185 193 200 222 231 240 262 279 282 279 Food services and accommodations 11 475 514 530 548 548 530 543 507 535 531 532 527 548 Other services 12 779 789 786 808 790 808 805 764 783 775 774 746 730 Net foreign travel 13 -1,052 -1,092 -1,177 -1,218 -1,195 -1,197 -1,153 -1,004 -992 -982 -1,005 -1,024 -1,047 Private fixed investment 14 635 460 493 595 624 540 475 393 379 356 253 261 268 Change in private inventories 15 -170 52 48 -5 -27 -435 111 210 -207 59 62 87 -10 Net exports of goods and services 16 313 347 269 186 210 920 498 123 511 67 -2 -120 -14 Exports 17 9,848 11,483 12,231 12,328 11,689 11,731 11,903 10,717 10,278 8,559 1,849 1,543 1,834 Goods 18 8,711 10,396 11,053 11,109 10,496 10,538 10,738 9,696 9,277 7,617 1,170 860 1,146 Services 19 1,079 1,118 1,205 1,245 1,222 1,222 1,173 1,021 1,004 992 1,015 1,035 1,056 Imports 20 9,536 11,136 11,961 12,142 11,478 10,811 11,405 10,595 9,768 8,492 1,851 1,662 1,848 Goods 21 9,196 10,820 11,622 11,795 11,141 10,469 11,106 10,310 9,482 8,226 1,728 1,539 1,723 Services 22 324 332 356 364 354 361 297 285 288 273 151 153 154 Government consumption expenditures and gross investment 23 1,001 894 914 915 959 1,048 1,057 1,110 1,168 1,098 998 984 966 Federal 24 105 116 126 120 119 121 122 136 170 155 150 146 127 Territorial 25 894 777 788 795 841 927 935 974 998 943 848 838 839 Addenda: Population (thousands)1 26 110.0 110.7 111.5 111.5 113.7 114.7 115.9 107.3 106.4 105.9 105.4 104.9 104.3 Per capita real GDP (chained dollars) 27 35,373 35,032 35,803 37,103 37,704 38,884 38,844 39,171 39,859 36,780 31,404 29,886 29,875 2011 2012 2010 Table 1.2. Real Gross Domestic Product, Chained Dollars [Millions of chained (2009) dollars] 2014 U.S. Virgin Islands 1. BEA estimates based on data from the U.S. Virgin Islands Bureau of Economic Research and the U.S. Census Bureau. 2009 2007 2008 Line 2002 2003 2004 2005 2006 2013 Gross domestic product 1 -0.3 2.9 3.6 3.6 4.0 0.9 -6.6 0.9 -8.2 -15.0 -5.3 -0.6 Personal consumption expenditures 2 2.5 4.4 7.8 6.1 -5.2 -4.3 2.4 1.2 -0.9 -3.3 -1.7 -0.3 Goods 3 2.9 11.3 10.8 7.1 -9.1 -11.2 -4.2 -2.6 -3.9 -5.1 1.1 1.4 Durable goods 4 4.9 11.6 13.9 6.5 -16.7 -15.7 -9.0 -4.3 -3.9 -3.1 8.1 4.5 Nondurable goods 5 -1.3 10.4 4.2 8.5 6.9 -3.8 2.6 -0.6 -3.8 -7.4 -7.5 -2.9 Foods, feeds, and beverages 6 -1.9 12.9 -0.3 -0.3 3.6 -3.8 3.9 3.6 1.9 -0.6 -4.0 -1.7 Other nondurable goods 7 -0.1 6.3 11.8 21.5 10.7 -3.8 1.2 -5.0 -10.1 -15.9 -12.9 -5.1 Services 8 3.0 2.1 3.5 0.9 0.5 0.5 -1.8 2.3 0.7 0.2 -1.5 0.0 Housing and utilities 9 1.2 3.1 4.3 5.3 0.6 -3.3 4.5 -1.0 0.8 -1.7 -0.7 -0.2 Health care 10 1.3 8.2 4.7 4.8 3.4 10.9 4.4 3.8 9.1 6.4 1.2 -1.3 Food services and accommodations 11 8.1 3.1 3.3 0.1 -3.3 2.4 -6.5 5.5 -0.8 0.2 -1.0 4.0 Other services 12 1.3 -0.3 2.8 -2.2 2.2 -0.3 -5.2 2.5 -1.0 -0.2 -3.6 -2.1 Net foreign travel 13 …….. …….. …….. …….. …….. …….. …….. …….. …….. …….. …….. …….. Private fixed investment 14 -27.7 7.2 20.9 4.7 -13.3 -12.1 -17.4 -3.5 -6.1 -28.8 2.9 2.7 Change in private inventories 15 …….. …….. …….. …….. …….. …….. …….. …….. …….. …….. …….. …….. Net exports of goods and services 16 …….. …….. …….. …….. …….. …….. …….. …….. …….. …….. …….. …….. Exports 17 16.6 6.5 0.8 -5.2 0.4 1.5 -10.0 -4.1 -16.7 -78.4 -16.6 18.9 Goods 18 19.3 6.3 0.5 -5.5 0.4 1.9 -9.7 -4.3 -17.9 -84.6 -26.5 33.2 Services 19 3.6 7.7 3.3 -1.8 0.0 -4.0 -13.0 -1.6 -1.3 2.4 1.9 2.1 Imports 20 16.8 7.4 1.5 -5.5 -5.8 5.5 -7.1 -7.8 -13.1 -78.2 -10.2 11.2 Goods 21 17.7 7.4 1.5 -5.5 -6.0 6.1 -7.2 -8.0 -13.2 -79.0 -10.9 11.9 Services 22 2.3 7.4 2.3 -2.9 1.9 -17.6 -4.0 0.9 -5.2 -44.8 1.3 0.9 Government consumption expenditures and gross investment 23 -10.7 2.2 0.1 4.8 9.2 0.8 5.1 5.1 -5.9 -9.1 -1.4 -1.8 Federal 24 11.0 8.1 -4.4 -1.4 1.8 1.0 11.7 24.8 -8.6 -3.8 -2.1 -13.0 Territorial 25 -13.1 1.4 0.9 5.8 10.3 0.8 4.2 2.4 -5.5 -10.1 -1.3 0.2 Addendum: GDP less petroleum exports, imports, and change in private inventories 26 -6.4 -3.3 2.5 3.5 -0.2 4.1 -6.4 0.3 -4.3 1.8 0.3 -1.3 2009 Line 2003 2004 2005 U.S. Virgin Islands 2013 2011 2012 2010 Table 1.3. Percent Change From Preceding Year in Real Gross Domestic Product [Percent] 2014 2006 2007 2008 Percent change: Gross domestic product 1 -0.3 2.9 3.6 3.6 4.0 0.9 -6.6 0.9 -8.2 -15.0 -5.3 -0.6 Percentage points: Personal consumption expenditures 2 1.24 2.18 3.74 2.94 -2.69 -2.28 1.26 0.68 -0.48 -1.80 -1.07 -0.19 Goods 3 0.85 3.17 3.04 2.08 -2.85 -3.45 -1.22 -0.76 -1.06 -1.36 0.32 0.45 Durable goods 4 0.97 2.26 2.67 1.30 -3.54 -3.01 -1.53 -0.69 -0.59 -0.46 1.33 0.84 Nondurable goods 5 -0.12 0.91 0.38 0.77 0.69 -0.44 0.31 -0.07 -0.47 -0.91 -1.00 -0.39 Foods, feeds, and beverages 6 -0.11 0.71 -0.02 -0.02 0.20 -0.23 0.24 0.23 0.12 -0.04 -0.32 -0.15 Other nondurable goods 7 0.00 0.21 0.39 0.79 0.49 -0.22 0.07 -0.30 -0.59 -0.87 -0.68 -0.25 Services 8 1.41 1.02 1.57 0.40 0.20 0.23 -0.89 1.17 0.34 0.10 -0.90 0.03 Housing and utilities 9 0.15 0.39 0.50 0.60 0.07 -0.46 0.64 -0.15 0.13 -0.27 -0.13 -0.05 Health care 10 0.05 0.31 0.18 0.18 0.13 0.47 0.22 0.21 0.49 0.37 0.08 -0.10 Food services and accommodations 11 0.95 0.39 0.39 0.01 -0.38 0.28 -0.80 0.66 -0.10 0.03 -0.14 0.63 Other services 12 0.26 -0.06 0.49 -0.39 0.37 -0.06 -0.95 0.46 -0.18 -0.03 -0.72 -0.45 Net foreign travel 13 -1.01 -2.02 -0.87 0.46 -0.04 0.94 3.37 0.27 0.24 -0.54 -0.49 -0.67 Private fixed investment 14 -4.14 0.76 2.22 0.59 -1.75 -1.44 -1.89 -0.32 -0.52 -2.25 0.19 0.20 Change in private inventories 15 3.15 -0.05 -1.08 -0.51 -10.52 17.57 2.99 -11.21 8.93 0.12 1.13 -4.37 Net exports of goods and services 16 2.00 -0.41 -1.27 -0.30 17.18 -13.12 -10.21 10.38 -14.50 -8.86 -5.17 4.28 Exports 17 25.68 13.37 1.97 -14.85 1.07 5.39 -34.53 -11.66 -55.71 -246.37 -12.93 12.46 Goods 18 24.69 11.30 1.11 -14.40 1.07 6.44 -31.08 -11.26 -55.42 -246.91 -13.45 11.83 Services 19 0.98 2.06 0.86 -0.45 0.00 -1.05 -3.45 -0.40 -0.29 0.54 0.52 0.63 Imports 20 -23.68 -13.78 -3.24 14.55 16.10 -18.51 24.31 22.04 41.21 237.51 7.76 -8.18 Goods 21 -23.49 -13.17 -3.05 14.32 16.25 -19.95 24.03 22.10 40.84 234.36 7.82 -8.13 Services 22 -0.18 -0.61 -0.19 0.23 -0.14 1.44 0.28 -0.06 0.37 3.15 -0.06 -0.05 Government consumption expenditures and gross investment 23 -2.58 0.47 0.03 0.90 1.83 0.19 1.22 1.37 -1.60 -2.23 -0.36 -0.52 Federal 24 0.26 0.22 -0.12 -0.03 0.04 0.03 0.33 0.81 -0.34 -0.14 -0.08 -0.56 Territorial 25 -2.84 0.25 0.15 0.93 1.79 0.17 0.89 0.56 -1.26 -2.09 -0.27 0.04 2011 2012 2008 2009 2010 U.S. Virgin Islands Table 1.4. Contributions to Percent Change in Real Gross Domestic Product 2014 Line 2003 2004 2005 2006 2007 2013 Gross domestic product 1 …….. 6.0 6.9 12.7 -2.1 2.5 -12.3 5.9 2.3 6.4 13.7 -2.4 -2.5 Personal consumption expenditures 2 …….. 2.7 3.2 3.8 2.6 5.5 5.9 0.1 1.3 4.9 3.6 2.1 0.0 Gross domestic product 3 84.0 89.0 95.2 107.3 105.1 107.7 94.4 100.0 102.3 108.8 123.7 120.8 117.8 Personal consumption expenditures 4 79.2 81.3 84.0 87.2 89.4 94.3 99.9 100.0 101.3 106.3 110.1 112.4 112.4 Gross domestic income 1 3,269 3,453 3,799 4,439 4,504 4,803 4,250 4,203 4,339 4,239 4,095 3,785 3,670 Compensation of employees 2 1,658 1,652 1,751 1,896 2,033 2,139 2,185 2,114 2,245 2,198 2,042 1,881 1,882 Taxes on production and imports less subsidies 3 83 113 126 149 156 167 160 125 151 158 175 165 182 Gross operating surplus 4 1,528 1,688 1,922 2,394 2,315 2,497 1,905 1,963 1,944 1,883 1,879 1,739 1,607 NOTE. Detail may not add to total because of rounding. Percent change: Revised 1 -0.3 2.9 3.6 3.6 4.0 0.9 -6.6 0.9 -8.2 -15.0 -5.3 Previously published 2 -1.0 3.4 3.7 4.0 4.3 0.3 -5.5 1.3 -7.5 -13.8 -5.4 Percentage points: Revision 3 0.7 -0.5 -0.1 -0.4 -0.3 0.6 -1.1 -0.4 -0.7 -1.2 0.1 and Price Indexes for Gross Domestic Product 2014 [Percent] [Index numbers, 2009=100] Table 1.6. Gross Domestic Income 2013 2011 2012 2004 [Millions of dollars] 2014 2013 2011 2005 2012 2007 2008 2003 2009 2006 Table 1.7. Revisions to Percent Change in Real Gross Domestic Product 2013 2011 2012 2010 2007 2008 2009 Line 2003 2004 2005 U.S. Virgin Islands Table 1.5. Percent Change From Preceding Year in Prices for Gross Domestic Product 2010 2009 Line 2002 2003 2004 2005 2006 2007 2008 2010 2006 Line 2002 Gross domestic product 1 3,269 3,453 3,799 4,439 4,504 4,803 4,250 4,203 4,339 4,239 4,095 3,785 Private industries 2 2,652 2,764 3,126 3,751 3,732 4,020 3,443 3,374 3,461 3,398 3,331 3,028 Goods-producing industries 3 710 730 1,016 1,482 1,446 1,487 993 1,042 1,035 955 824 597 Services-producing industries 4 1,943 2,034 2,110 2,269 2,286 2,533 2,450 2,332 2,426 2,443 2,507 2,432 Wholesale and retail trade 5 350 342 362 403 418 449 435 408 413 422 411 415 Accommodation and food services 6 267 284 308 325 330 405 424 400 428 436 450 455 Other services, except government 7 1,326 1,408 1,441 1,542 1,538 1,678 1,591 1,524 1,585 1,585 1,646 1,562 Government 8 617 689 674 688 772 783 807 829 878 841 764 757 Federal 9 83 92 108 112 117 120 125 130 141 139 139 140 Territorial 10 534 597 566 576 655 663 682 699 738 702 626 617 Gross domestic product 1 100 100 100 100 100 100 100 100 100 100 100 100 Private industries 2 81 80 82 85 83 84 81 80 80 80 81 80 Goods-producing industries 3 22 21 27 33 32 31 23 25 24 23 20 16 Services-producing industries 4 59 59 56 51 51 53 58 55 56 58 61 64 Wholesale and retail trade 5 11 10 10 9 9 9 10 10 10 10 10 11 Accommodation and food services 6 8 8 8 7 7 8 10 10 10 10 11 12 Other services, except government 7 41 41 38 35 34 35 37 36 37 37 40 41 Government 8 19 20 18 15 17 16 19 20 20 20 19 20 Federal 9 3 3 3 3 3 2 3 3 3 3 3 4 Territorial 10 16 17 15 13 15 14 16 17 17 17 15 16 2010 2008 2005 2006 U.S. Virgin Islands Table 2.1. Value Added by Industry 2. GDP by Industry [Millions of dollars] 2013 2012 2011 Line 2002 2003 2004 2005 2011 2007 2008 NOTE. Detail may not add to total because of rounding. Table 2.2. Value Added by Industry as a Percentage of GDP [Percent] 2013 2012 Line 2010 2002 2003 2004 2006 2007 2009 2009 Gross domestic product 1 3,891 3,878 3,992 4,137 4,287 4,460 4,502 4,203 4,241 3,895 3,310 3,135 Private industries 2 3,132 3,073 3,189 3,335 3,471 3,634 3,661 3,374 3,408 3,086 2,568 2,427 Goods-producing industries 3 903 788 852 880 1,021 1,012 1,138 1,042 1,019 774 463 338 Services-producing industries 4 2,284 2,339 2,385 2,514 2,444 2,646 2,523 2,332 2,389 2,324 2,233 2,270 Wholesale and retail trade 5 408 390 400 431 436 464 442 408 408 410 388 388 Accommodation and food services 6 329 347 366 372 367 433 452 400 429 437 434 426 Other services, except government 7 1,545 1,599 1,618 1,708 1,639 1,747 1,629 1,524 1,552 1,479 1,414 1,458 Government 8 770 821 817 814 826 833 841 829 833 808 755 719 Federal 9 113 117 130 129 129 127 129 130 135 131 130 130 Territorial 10 657 704 687 685 697 707 712 699 697 677 624 588 Gross domestic product 1 -0.3 2.9 3.6 3.6 4.0 0.9 -6.6 0.9 -8.2 -15.0 -5.3 Private industries 2 -1.9 3.8 4.6 4.1 4.7 0.8 -7.9 1.0 -9.5 -16.8 -5.5 Goods-producing industries 3 -12.8 8.2 3.2 16.0 -0.9 12.5 -8.5 -2.1 -24.1 -40.2 -27.0 Services-producing industries 4 2.4 2.0 5.4 -2.8 8.3 -4.6 -7.6 2.4 -2.7 -3.9 1.7 Wholesale and retail trade 5 -4.3 2.5 7.8 1.1 6.4 -4.7 -7.9 0.2 0.3 -5.3 0.0 Accommodation and food services 6 5.4 5.4 1.8 -1.3 17.9 4.4 -11.5 7.1 2.0 -0.8 -1.8 Other services, except government 7 3.6 1.2 5.6 -4.1 6.6 -6.8 -6.4 1.8 -4.7 -4.4 3.1 Government 8 6.6 -0.5 -0.3 1.5 0.9 0.9 -1.4 0.4 -3.0 -6.5 -4.8 Federal 9 3.6 11.6 -0.9 -0.1 -1.8 1.8 0.9 4.2 -3.3 -0.5 -0.3 Territorial 10 7.1 -2.4 -0.2 1.8 1.4 0.7 -1.8 -0.3 -2.9 -7.7 -5.8 [Percent] 2013 2012 2012 2011 2011 2010 2010 Line 2003 2004 2005 2006 2009 U.S. Virgin Islands Table 2.3. Real Value Added by Industry [Millions of chained (2009) dollars] 2007 2008 2009 Line 2002 2003 2004 2005 2006 2007 2008 2013 Table 2.4. Percent Changes in Real Value Added by Industry Percent change: Gross domestic product 1 -0.3 2.9 3.6 3.6 4.0 0.9 -6.6 0.9 -8.2 -15.0 -5.3 Percentage points: Private industries 2 -1.53 3.06 3.81 3.38 3.90 0.65 -6.38 0.82 -7.63 -13.88 -4.43 Goods-producing industries 3 -2.92 1.91 0.96 4.84 -0.29 3.27 -2.08 -0.53 -6.13 -11.76 -5.44 Services-producing industries 4 1.39 1.15 2.85 -1.46 4.18 -2.62 -4.29 1.35 -1.50 -2.12 1.01 Wholesale and retail trade 5 -0.45 0.25 0.71 0.10 0.59 -0.47 -0.79 0.02 0.03 -0.49 0.00 Accommodation and food services 6 0.43 0.43 0.14 -0.10 1.32 0.39 -1.15 0.66 0.19 -0.07 -0.20 Other services, except government 7 1.42 0.47 2.00 -1.46 2.27 -2.54 -2.36 0.66 -1.71 -1.56 1.21 Government 8 1.24 -0.09 -0.05 0.24 0.15 0.16 -0.26 0.08 -0.58 -1.16 -0.92 Federal 9 0.09 0.31 -0.02 0.00 -0.05 0.05 0.02 0.13 -0.10 -0.02 -0.01 Territorial 10 1.15 -0.40 -0.03 0.25 0.20 0.11 -0.28 -0.05 -0.48 -1.15 -0.91 Total compensation 1 1,658 1,652 1,751 1,896 2,033 2,139 2,185 2,114 2,245 2,198 2,042 1,881 Private industries 2 1,049 1,003 1,123 1,257 1,306 1,399 1,411 1,318 1,393 1,386 1,319 1,157 Goods-producing industries 3 261 187 223 286 329 369 340 309 317 302 275 110 Services-producing industries 4 788 816 900 971 978 1,030 1,070 1,008 1,076 1,084 1,045 1,047 Wholesale and retail trade 5 169 172 184 189 191 201 205 197 198 209 209 236 Accommodation and food services 6 154 167 180 186 190 208 217 191 204 208 212 214 Other services, except government 7 464 477 535 596 596 621 649 620 674 668 624 597 Government 8 609 649 628 639 727 741 774 797 852 812 722 724 Federal 9 81 90 106 110 116 118 123 129 140 138 137 138 Territorial 10 528 559 522 529 611 622 651 668 712 674 585 586 Table 2.6. Compensation of Employees by Industry U.S. Virgin Islands Table 2.5. Contributions to Percent Change in Real Gross Domestic Product by Industry 2013 NOTE. Percentage-point contributions do not sum to the percent change in real gross domestic product because of rounding and differences in source data used to estimate GDP by industry and the expenditures measure of real GDP. 2011 2009 2010 2012 NOTE. Detail may not add to total because of rounding. 2012 2007 Line 2003 2004 2005 2006 2007 2008 Line 2002 2003 2005 2006 [Millions of dollars] 2013 2011 2010 2008 2009 2004