St. Maarten economy contracted 1.6 percent in 2010

POSTED: 10/14/11 12:03 PM

St. Maarten – The St. Maarten economy contracted by 1.6 percent in 2010, according to preliminary findings by the department of statistics Stat. In 2009, the economy also shrank, by 0.9 percent.
The department bases its findings on the partial economic activity index Peai and on the results of the business cycle survey.
The statistic department uses the Peai because there are no data available for all industries in St. Maarten. However, the eight sectors that are included in the assessment cover 82.5 percent of all economic activity. The table shows that trade, real estate, renting, business activities and private education suffered the heaviest blows from the economic downturn.
According to the developments shown within the indicators, the 1.6 percent decline in real growth was mainly the result of contractions within the trade as well as the real estate & renting industries. Growth in the inflation rate (3.2%) also played its role in the added value and consequently the GDP for 2010.
First how to purchase valium results for 2010, show a 2% decrease in merchandise imports from 1.3 to 1.2 million guilders; this was mostly influenced by a drop in general merchandise. Additionally, most businesses in the 2010 business cycle survey indicated their added value went down by about 3 percent; these businesses were mainly related to timeshare activities.
Economic activities within other sectors experienced some growth, such as the hotel and restaurants industry which saw a slight increase in stay-over visitors (0.7%) and on the balance of payments, an increase in travel exports of about 9.5%.

Table 1. Industries within the Partial Economic Activity Index (PEAI): Industry Estimated % real change in 2010 over 2009

Utilities
(Electricity, gas, water) 0.9
Trade -6.0
Hotels, restaurants and café’s 0.6
Transport, storage & communications 0.7
Real Estate, renting & business activities & Private Education -4.7
Health & Social work 0.5
Other Community, social & personal service activities -1.8
Financial Intermediation 1.4
Real GDP growth -1.6

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