EMBARGOED UNTIL RELEASE AT 10:00 A.M. EST, Friday, March 4, 2022
EMBARGOED UNTIL RELEASE AT 10:00 A.M. EST, Friday, March 4, 2022 BEA 22–07 Technical: Christina Hovland (BEA) (301) 278-9076 Territories@bea.gov Media: Jeannine Aversa (BEA) (301) 278-9003 Jeannine.Aversa@bea.gov Tanya Harris Joshua (OIA) (202) 208-6008 Tanya_Joshua@ios.doi.gov Gross Domestic Product for the U.S. Virgin Islands, 2020 Gross Domestic Product by Industry and Compensation by Industry, 2019 Real gross domestic product (GDP) for the U.S. Virgin Islands (USVI) decreased 2.2 percent in 2020 after increasing 2.8 percent in 2019 (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 (OIA) of the U.S. Department of the Interior. GDP for 2020 The decrease in real GDP reflected decreases in exports of services, private fixed investment, personal consumption expenditures, and government spending (table 1.4). These decreases were partly offset by an increase in private inventory investment. …
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