© 2008 International Monetary Fund
October 2008
IMF Country Report No. 08/330
St. Lucia: Statistical Appendix
This Statistical Appendix for St. Lucia was prepared by a staff team of the International Monetary
Fund as background documentation for the periodic consultation with the member country. It is based
on the information available at the time it was completed on July 10, 2008. The views expressed in this
document are those of the staff team and do not necessarily reflect the views of the Government of
St. Lucia or the Executive Board of the IMF.
The policy of publication of staff reports and other documents by the IMF allows for the deletion of
market-sensitive information.
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International Monetary Fund
Washington, D.C.
INTERNATIONAL MONETARY FUND
ST. LUCIA
Statistical Appendix
Prepared by a staff team consisting of Paul Cashin, Koffie Nassar,
and Yan Sun (all WHD)
Approved by Western Hemisphere Department
July 10, 2008
Contents
Page
Basic Data .....................................................................................................................................2
Tables
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
GDP by Economic Activity at Constant Factor Cost ............................................................4
GDP by Economic Activity at Current Factor Cost ..............................................................5
Expenditure on GDP at Current Prices..................................................................................6
Saving and Investment ..........................................................................................................7
Selected Data on the Banana Industry...................................................................................8
Selected Industrial Production...............................................................................................9
Consumer Price Index .........................................................................................................10
Operations of the Central Government ...............................................................................11
Operations of the Central Government (in percent of GDP)...............................................12
Monetary Survey .................................................................................................................13
Summary Operations of the Eastern Caribbean Central Bank ............................................14
Consolidated Accounts of the Commercial Banks..............................................................15
Distribution of Commercial Bank Loans and Advances.....................................................16
Summary Balance of Payments...........................................................................................17
Value, Volume, and Unit Value of Major Exports..............................................................18
Merchandise Imports by SITC Category.............................................................................19
Imports and Prices of Petroleum Products ..........................................................................20
Merchandise Trade Volumes, Unit Values and Terms of Trade.........................................21
Direction of Trade ...............................................................................................................22
Selected Tourism Statistics .................................................................................................23
Stayover Tourist Arrivals by Country of Origin .................................................................24
Structure of Public Debt ......................................................................................................25
Structure of Public Debt (in percent of GDP) .....................................................................26
Effective Exchange Rate Indices.........................................................................................27
2
St. Lucia: Basic Data
I. Social and Demographic Indicators
Area (sq. km.)
Arable land (percent of land area)
616
4.9
Population (2007)
Total (thousands)
Annual rate of growth
(percent a year)
Density (per sq. km.)
GDP per capita (US$), 2007
171.2
1.4
317.6
5,606
Population characteristics (2007)
Infant mortality (per thousand live births)
23.5
Distribution of labor force (in percent, 2006)
Agriculture
Industry and mining
Services
14.5
22.0
63.5
Health (2005)
Life expectancy at birth (males)
Hospital beds (per 10,000 population)
74.0
28.0
Access to safe water (2004)
Percent of population
Urban
Rural
98.0
98.0
Education (2006)
Enrollment percentage
Primary
Secondary
98.6
75.8
Gross domestic product GDP (2007)
(in millions of EC$)
(in millions of US$)
2,592
960
II. Economic Indicators, 2003–07
2003
2004
2005
2006
Prel.
2007
5.5
17.7
76.9
4.2
19.0
76.8
4.1
20.0
75.9
4.2
18.9
77.0
(In percent of GDP)
Origin of GDP
Agriculture and mining
Manufacturing, construction and utilities
Services
5.4
17.3
77.3
(Annual percentage changes, unless otherwise indicated)
National accounts and prices
Real GDP
Real GDP per capita
GDP deflator
Consumer price index (period average)
Consumer price index (end of period)
Unemployment rate (in percent)
3.5
2.6
1.3
3.8
2.6
2.5
4.4
2.9
3.1
4.9
3.6
2.3
1.7
0.7
0.5
1.0
0.5
22.3
1.5
3.5
21.0
3.9
5.2
18.7
3.6
0.7
16.6
2.8
6.8
14.0
26.2
29.8
25.5
29.2
25.6
31.6
26.9
32.8
28.2
30.9
2.8
1.8
-0.8
-3.6
56.4
3.0
3.8
-0.7
-3.8
61.9
3.0
4.0
-3.0
-6.0
63.7
3.3
4.9
-2.6
-5.9
63.5
3.5
5.9
0.8
-2.7
64.0
(Ratios to GDP)
Public finances 1/
Central government
Total revenue 2/
Total expenditure
Of which
Interest
Savings
Primary balance 3/
Overall balance 3/
Central government debt
(12-month percentage changes, unless otherwise indicated)
Money and credit 4/
Liabilities to private sector
Of which
Money
Quasi money
Net domestic assets of the banking system
Of which
Credit to the public sector (net)
Credit to the private sector
Liabilities to private sector, in percent of GDP
7.6
10.1
13.4
20.1
6.2
4.4
3.3
-10.1
10.1
0.0
11.3
4.4
9.1
27.9
0.8
19.3
19.1
3.8
2.4
14.2
-2.8
-4.3
63.3
-2.5
11.1
65.2
3.2
17.7
67.6
1.7
27.4
76.6
1.0
34.2
79.3
3
St. Lucia: Basic Data
2003
2004
2005
2006
Prel.
2007
(In millions of U.S. dollars, unless otherwise indicated)
Balance of payments
Current account
Trade balance (goods)
Exports, f.o.b.
Imports, f.o.b.
Services and transfers (net)
Of which
Tourism receipts
Interest (public sector)
Capital and financial account 5/
Capital transfers
Official borrowing (net)
Private capital 5/
Change in net international reserves (increase -) 6/
Exports (in percent of GDP)
Imports (in percent of GDP)
Current account (in percent of GDP)
Goods exports (in US$, annual percentage change)
Goods imports (in US$, annual percentage change)
Terms of trade (annual percentage change) 7/
Real effective exchange rate (12-month percentage
change)
International reserve position and external debt
Gross official reserves of the ECCB
Net official reserves (central bank, imputed)
Net reserves of the banking system
Outstanding external debt, in percent of GDP
Public 8/
Private
-110.3
-245.7
109.3
-355.1
135.4
-87.5
-251.8
96.2
-348.0
164.3
-150.1
-329.3
88.8
-418.1
179.2
-277.4
-403.6
117.4
-521.0
126.2
-279.6
-405.9
135.9
-541.8
126.3
282.1
17.0
145.9
17.1
72.4
56.4
-12.8
325.7
18.0
101.0
3.5
24.4
73.2
-25.5
356.0
17.2
139.7
5.3
43.2
91.1
16.0
287.5
19.7
321.8
11.4
21.7
288.7
-18.0
299.4
23.0
303.5
5.8
-8.4
306.1
-19.0
14.6
-47.5
-14.7
57.7
30.6
-9.8
12.0
-43.4
-10.9
-12.0
-2.0
-13.8
10.1
-47.6
-17.1
-7.7
20.1
-6.0
12.6
-55.8
-29.7
32.2
24.6
-7.2
14.2
-56.4
-29.1
15.8
4.0
-10.0
-4.9
-4.6
-0.5
0.1
-3.9
539.9
104.7
19.5
632.4
130.2
-12.2
600.8
114.2
-77.2
696.0
132.2
-88.6
764.1
151.2
-168.9
45.6
45.6
...
46.1
46.1
...
47.4
47.4
...
44.8
44.8
...
46.0
46.0
...
IMF data (as of June 30, 2008)
Membership status:
Intervention currency and rate
Quota
Fund holdings of Eastern Caribbean dollars
(As percent of quota)
Outstanding purchases and loans
SDR department
Net cumulative allocation
Holdings
Sources: St. Lucia authorities; World Development Indicators; and Fund staff estimates.
1/ Data for fiscal years beginning April.
2/ Including grants.
3/ After grants.
4/ Change as a percentage of liabilities to the private sector at the beginning of the period.
5/ Includes errors and omissions.
6/ Imputed reserves at the ECCB.
7/ Excluding tourism.
8/ Total public and publicly guaranteed debt.
Article VIII
U.S. dollar at EC$2.70 per U.S. dollar
SDR 15.3 million
SDR 15.29 million
99.97 percent
None
SDR 0.74 million
SDR 1.57 million
4
Table 1. St. Lucia: GDP by Economic Activity at Constant Factor Cost
2002
2003
2004
2005
2006
Prel.
2007
( In millions of 1990 Eastern Caribbean dollars )
Gross domestic product
Primary sector
Agriculture
Bananas
Other crops
Livestock
Fishing
Forestry
Mining and quarrying
1,188.5
73.2
67.3
35.8
13.5
6.9
10.0
1.2
5.8
1,230.5
62.6
56.7
22.8
14.3
6.6
11.9
1.2
5.8
1,277.0
60.8
55.1
26.8
11.3
6.8
9.1
1.1
5.7
1,333.1
47.0
41.5
16.8
8.2
6.9
8.5
1.1
5.5
1,398.9
52.1
45.5
18.8
8.9
6.3
10.5
1.1
6.6
1,422.5
53.3
45.9
18.1
9.6
6.4
10.8
1.0
7.5
Secondary sector
Manufacturing
Construction
Electricity, gas, and water
225.7
69.2
94.2
62.3
231.4
72.2
95.7
63.4
231.4
70.1
96.7
64.6
246.2
81.5
108.8
56.0
261.2
87.0
123.2
51.1
256.5
88.4
110.5
57.6
Services
Wholesale and retail trade
Hotels and restaurants
Transport and communications
Banking and insurance
Real estate and housing
Government services
Other services
995.2
126.4
138.4
250.3
129.3
149.6
147.0
54.3
1,043.6
136.2
161.4
261.4
131.9
154.6
143.9
54.3
1,095.3
147.7
170.9
274.9
137.7
159.7
149.8
54.6
1,169.3
156.3
181.7
293.7
150.9
168.8
162.3
55.6
1,231.7
170.4
176.7
304.8
183.2
173.2
165.7
57.8
1,274.9
178.2
163.6
314.1
200.5
186.4
172.1
60.1
Less imputed banking charges
-108.2
-110.0
-115.2
-123.7
-150.7
-149.7
(Annual percentage change)
Gross domestic product
0.6
3.5
3.8
4.4
4.9
1.7
4.2
4.4
59.8
-34.1
-4.7
-24.2
-2.4
1.9
-14.5
-15.7
-36.3
5.7
-3.2
18.6
-3.3
0.2
-2.8
-2.9
17.7
-20.8
2.0
-23.4
-3.4
-1.9
-22.8
-24.7
-37.2
-27.9
2.2
-6.8
-3.6
-3.9
10.9
9.8
11.4
9.7
-9.7
24.1
-2.8
19.8
2.3
0.8
-3.4
7.6
1.8
2.3
-3.8
13.1
Secondary sector
Manufacturing
Construction
Electricity, gas, and water
-1.2
5.5
-4.8
-2.5
2.5
4.4
1.6
1.9
0.0
-3.0
1.0
1.9
6.4
16.3
12.5
-13.4
6.1
6.7
13.2
-8.7
-1.8
1.7
-10.3
12.7
Services
Wholesale and retail trade
Hotels and restaurants
Transport and communications
Banking and insurance
Real estate and housing
Government services
Other services
0.9
1.2
-0.6
1.7
1.2
2.4
-1.6
1.8
4.9
7.8
16.6
4.4
2.0
3.3
-2.1
0.0
4.9
8.4
5.9
5.2
4.5
3.3
4.1
0.6
6.8
5.8
6.3
6.8
9.6
5.7
8.4
1.9
5.3
9.0
-2.7
3.8
21.4
2.6
2.1
3.9
3.5
4.6
-7.4
3.1
9.4
7.6
3.8
4.0
Less imputed banking charges
1.9
1.5
5.0
10.2
18.0
11.0
Primary sector
Agriculture
Bananas
Other crops
Livestock
Fishing
Forestry
Mining and quarrying
Sources: Statistics Department of the Ministry of Finance; and Fund staff estimates.
5
Table 2. St. Lucia: GDP by Economic Activity at Current Factor Cost
2002
2003
2004
2005
2006
Prel.
2007
( In millions of current Eastern Caribbean dollars )
Gross domestic product
1,601.3
1,680.2
1,787.5
1,924.3
2,066.2
2,111.4
Primary sector
Agriculture
Bananas
Other crops
Livestock
Fishing
Forestry
Mining and quarrying
100.2
94.2
40.5
18.6
12.3
21.6
1.2
6.0
91.0
85.0
32.3
22.4
9.5
19.6
1.1
6.0
97.7
91.8
40.6
20.6
9.7
19.7
1.1
5.9
80.6
75.0
27.2
17.3
11.1
18.3
1.1
5.7
85.2
78.4
30.6
14.0
10.1
22.7
1.0
6.8
88.3
80.5
30.0
16.0
10.2
23.2
1.1
7.7
Secondary sector
Manufacturing
Construction
Electricity, gas, and water
279.3
78.7
118.4
82.2
290.8
87.6
114.0
89.2
315.6
96.8
119.0
99.8
365.4
116.6
150.8
98.0
412.7
129.1
187.5
96.1
398.1
137.4
169.2
91.5
Services
Wholesale and retail trade
Hotels and restaurants
Transport and communications
Banking and insurance
Real estate and housing
Government services
Other services
1,348.6
178.4
199.6
326.2
160.5
156.3
247.3
80.3
1,433.6
195.2
235.2
341.6
169.6
161.8
248.1
82.1
1,519.2
215.3
252.6
358.8
178.9
167.4
261.2
85.0
1,637.3
239.6
279.1
383.9
194.6
172.3
282.1
85.7
1,745.9
268.1
281.2
398.4
217.9
188.8
302.4
89.2
1,812.7
294.4
267.6
415.2
230.3
215.7
297.9
91.6
Less imputed banking charges
126.8
135.3
144.9
159.0
177.6
187.7
(In percent of GDP)
Gross domestic product
100.0
100.0
100.0
100.0
100.0
100.0
6.3
5.9
2.5
1.2
0.8
1.4
0.1
0.4
5.4
5.1
1.9
1.3
0.6
1.2
0.1
0.4
5.5
5.1
2.3
1.2
0.5
1.1
0.1
0.3
4.2
3.9
1.4
0.9
0.6
1.0
0.1
0.3
4.1
3.8
1.5
0.7
0.5
1.1
0.0
0.3
4.2
3.8
1.4
0.8
0.5
1.1
0.1
0.4
Secondary sector
Manufacturing
Construction
Electricity, gas, and water
17.4
4.9
7.4
5.1
17.3
5.2
6.8
5.3
17.7
5.4
6.7
5.6
19.0
6.1
7.8
5.1
20.0
6.2
9.1
4.6
18.9
6.5
8.0
4.3
Services
Wholesale and retail trade
Hotels and restaurants
Transport and communications
Banking and insurance
Real estate and housing
Government services
Other services
84.2
11.1
12.5
20.4
10.0
9.8
15.4
5.0
85.3
11.6
14.0
20.3
10.1
9.6
14.8
4.9
85.0
12.0
14.1
20.1
10.0
9.4
14.6
4.8
85.1
12.5
14.5
19.9
10.1
9.0
14.7
4.5
84.5
13.0
13.6
19.3
10.5
9.1
14.6
4.3
85.9
13.9
12.7
19.7
10.9
10.2
14.1
4.3
Less imputed banking charges
7.9
8.1
8.1
8.3
8.6
8.9
Primary sector
Agriculture
Bananas
Other crops
Livestock
Fishing
Forestry
Mining and quarrying
Sources: Statistics Department of the Ministry of Finance; and Fund staff estimates.
6
Table 3. St. Lucia: Expenditure on GDP at Current Prices
2002
2003
2004
2005
2006
Prel.
2007
(In millions of Eastern Caribbean dollars)
Consumption
Public sector 1/
Private sector
1,708.3
381.6
1,326.7
1,806.2
400.0
1,406.2
1,798.8
409.7
1,389.2
2,067.5
431.1
1,636.4
2,249.3
458.2
1,791.2
2,283.6
483.8
1,799.8
415.9
175.9
240.0
408.4
156.6
251.8
451.8
154.9
296.9
551.2
220.4
330.8
906.2
269.6
636.6
933.0
246.8
686.3
Gross domestic expenditure
2,124.2
2,214.6
2,250.6
2,618.7
3,155.5
3,216.6
Balance of goods and nonfactor services
Exports of goods and nonfactor services
Imports of goods and nonfactor services
-220.7
861.9
1,082.6
-195.3
1,154.7
1,350.0
-87.6
1,250.9
1,338.5
-244.6
1,347.9
1,592.5
-635.7
1,226.9
1,862.6
-624.9
1,314.6
1,939.5
GDP at market prices
1,903.5
2,019.3
2,163.0
2,374.1
2,519.8
2,591.7
302.2
339.1
375.5
449.8
453.6
480.3
1,601.3
1,680.2
1,787.5
1,924.3
2,066.2
2,111.4
-98.1
-137.3
-186.3
-195.8
-145.7
-162.4
1,805.4
1,882.0
1,976.8
2,178.4
2,374.1
2,429.3
Gross domestic investment
Public sector 1/
Private sector
Net indirect taxes
GDP at factor cost
Net factor income
GNP at market prices
(In percent of GDP at market price)
Consumption
Public sector 1/
Private sector
Gross domestic investment
Public sector 1/
Private sector
89.7
20.0
69.7
21.8
9.2
12.6
89.4
19.8
69.6
20.2
7.8
12.5
83.2
18.9
64.2
20.9
7.2
13.7
87.1
18.2
68.9
23.2
9.3
13.9
89.3
18.2
71.1
36.0
10.7
25.3
90.6
19.2
71.4
36.0
9.5
26.5
Gross domestic expenditure
111.6
109.7
104.0
110.3
125.2
124.1
Balance of goods and nonfactor services
Exports of goods and nonfactor services
Imports of goods and nonfactor services
-11.6
45.3
56.9
-9.7
57.2
66.9
-4.0
57.8
61.9
-10.3
56.8
67.1
-25.2
48.7
73.9
-24.1
50.7
74.8
GDP at market price
100.0
100.0
100.0
100.0
100.0
100.0
Net indirect taxes
15.9
16.8
17.4
18.9
18.0
18.5
GDP at factor cost
84.1
83.2
82.6
81.1
82.0
81.5
2.9
6.1
7.1
9.8
6.1
2.9
Memorandum item:
GDP at market price
(Annual percentage change)
Sources: Statistics Department of the Ministry of Finance; and Fund staff estimates.
1/ The figure covers only the central government.
7
Table 4. St. Lucia: Saving and Investment
2002
2003
2004
2005
2006
Prel.
2007
(In millions of Eastern Caribbean dollars)
129.7
110.6
215.5
145.9
157.1
178.2
Public 1/
Gross national saving
36.2
83.3
71.4
74.6
120.6
176.0
Private
93.5
27.2
144.1
71.2
36.5
2.2
External saving
286.1
297.8
236.3
405.4
749.1
754.8
Total saving
415.9
408.4
451.8
551.2
906.2
933.0
933.0
Gross domestic investment
415.9
408.4
451.8
551.2
906.2
Public sector 1/
175.9
156.6
154.9
220.4
269.6
246.8
Private sector
240.0
251.8
296.9
330.8
636.6
686.3
6.9
(In percent of GDP)
Gross national saving
6.8
5.5
10.0
6.1
6.2
Public 1/
1.9
4.1
3.3
3.1
4.8
6.8
Private
4.9
1.3
6.7
3.0
1.4
0.1
External saving
15.0
14.7
10.9
17.1
29.7
29.1
Total saving
21.8
20.2
20.9
23.2
36.0
36.0
Gross domestic investment
21.8
20.2
20.9
23.2
36.0
36.0
9.2
7.8
7.2
9.3
10.7
9.5
12.6
12.5
13.7
13.9
25.3
26.5
Public sector 1/
Private sector
Sources: Statistics Department of the Ministry of Finance; and Fund staff estimates.
1/ This figure covers the central government only.
Table 5. St. Lucia: Selected Data on the Banana Industry
2002
2003
2004
2005
2006
2007
Banana production (000 tons)
Banana exports (000 tons)
48.2
48.2
34.0
34.0
42.3
42.3
30.0
30.0
34.0
34.0
30.3
30.3
Banana export receipts
(In millions of EC$)
58.6
43.6
54.3
41.5
48.1
43.7
451.6
475.0
471.1
512.0
523.9
533.2
2.2
14.8
3.8
2.5
20.9
4.3
1.7
17.3
3.1
1.9
15.2
3.9
1.7
11.9
2.3
Export unit price
(In US$/000 tons)
(In percent)
8
Memorandum items:
Banana exports/GDP
Banana exports/merchandise exports
Banana exports/exports of goods and nonfactor services
3.1
31.3
6.8
Sources: Windward Islands Banana Development and Export Company (WIBDECO); and Fund staff estimates.
9
Table 6. St. Lucia: Selected Industrial Production
(Values in thousands of Eastern Caribbean dollars; quantity as indicated)
2002
Copra
Value
Tons
2003
2004
2005
2006
Prel.
2007
1,138
1,270
1,365
1,535
1,103
1,094
820
714
967
776
792
644
734
264
576
205
1,434
517
1,215
400
1,135
439
999
360
2,040
572
2,553
731
2,170
609
965
271
1,119
356
1,595
447
145
330
189
429
130
649
91
453
100
499
89
390
Food, beverages, and tobacco
Value
60,053
64,261
69,099
78,015
82,475
81,005
Paper products and cardboard boxes
Value
Quantity (000's)
21,206
14,069
20,040
10,260
20,661
10,742
19,713
9,763
21,560
11,352
21,253
10,341
Electrical products
Value
Quantity (000's)
25,369
20,822
18,477
13,942
24,529
14,655
28,279
11,890
28,083
10,916
31,489
10,798
1,465
17
1,011
12
1,039
16
886
15
787
18
839
14
Unrefined coconut oil
Value
Liters (000's)
Refined coconut oil
Value
Liters (000's)
Coconut meal
Value
Kgs. (000's)
Wearing apparel
Value
Doz. Pcs. (000's)
Source: Statistics Department of the Ministry of Finance.
10
Table 7. St. Lucia: Consumer Price Index
(April 1984 = 100)
2002
2003
2004
2005
2006
2007
180.1
178.5
159.4
248.9
137.2
140.4
191.9
248.7
182.5
301.6
157.0
187.1
191.1
161.8
248.9
137.2
151.2
191.9
249.4
188.0
304.3
158.4
193.8
199.9
176.1
248.9
137.4
158.9
195.0
264.0
195.4
308.0
167.3
199.2
209.5
182.8
248.9
137.6
165.0
196.9
261.1
198.7
309.7
169.1
1.5
0.8
0.1
5.0
0.0
3.5
4.2
5.3
-1.1
1.0
2.0
3.9
7.1
1.5
0.0
0.0
7.7
0.0
0.3
3.0
0.9
0.9
3.6
4.6
8.8
0.0
0.1
5.1
1.6
5.8
3.9
1.2
5.6
2.8
4.8
3.8
0.0
0.2
3.8
1.0
-1.1
1.7
0.5
1.1
183.4
184.6
160.6
248.9
137.2
145.0
191.9
249.2
184.7
303.2
157.7
192.9
201.9
161.8
248.9
137.3
153.8
191.9
249.5
196.6
305.6
158.6
194.2
200.4
176.1
248.9
137.5
155.5
195.2
264.4
197.9
309.2
168.8
207.4
224.8
183.7
248.9
137.6
180.4
196.4
260.9
199.1
310.4
172.3
3.5
4.2
0.9
5.0
0.0
7.4
4.2
5.1
2.8
1.6
2.0
5.2
9.4
0.7
0.0
0.1
6.1
0.0
0.1
6.4
0.8
0.6
0.7
-0.7
8.8
0.0
0.1
1.1
1.7
6.0
0.7
1.2
6.4
6.8
12.2
4.3
0.0
0.1
16.0
0.6
-1.3
0.6
0.4
2.1
(Period averages)
All items
Food
Beverages and tobacco
Clothing and footwear
Housing
Fuel and light
Furniture, household equipment
Health care
Transport and communication
Recreation and education
Miscellaneous goods and services
175.6
173.4
157.0
237.0
137.2
131.7
185.2
239.8
184.2
299.4
154.4
177.5
177.0
159.2
237.0
137.2
135.6
184.1
236.1
184.5
298.5
153.9
(Annual percentage change)
All items
Food
Beverages and tobacco
Clothing and footwear
Housing
Fuel and light
Furniture, household equipment
Health care
Transport and communication
Recreation and education
Miscellaneous goods and services
-0.3
-1.2
2.6
0.0
-0.1
-1.6
-1.2
6.5
3.6
-0.1
0.7
1.0
2.1
1.4
0.0
0.0
3.0
-0.6
-1.5
0.2
-0.3
-0.3
(End of period)
All items
Food
Beverages and tobacco
Clothing and footwear
Housing
Fuel and light
Furniture, household equipment
Health care
Transport and communication
Recreation and education
Miscellaneous goods and services
176.3
174.0
158.9
237.0
137.3
134.1
184.1
246.7
188.5
298.1
153.1
177.2
177.1
159.2
237.0
137.2
135.0
184.1
237.0
179.6
298.5
154.6
(Percentage change during year)
All items
Food
Beverages and tobacco
Clothing and footwear
Housing
Fuel and light
Furniture, household equipment
Health care
Transport and communication
Recreation and education
Miscellaneous goods and services
Source: Statistics Department of Ministry of Finance.
-0.7
-1.8
2.3
0.0
0.0
3.1
-1.8
-1.0
5.4
-0.6
-1.6
0.5
1.8
0.2
0.0
-0.1
0.7
0.0
-3.9
-4.7
0.1
1.0
11
Table 8. St. Lucia: Operations of the Central Government 1/
(In millions of Eastern Caribbean dollars)
2002/03
2003/04
2004/05
2005/06
2006/07
Prel.
2007/08
Total revenue and grants
497.7
538.3
564.1
615.9
682.6
744.3
Current revenue
441.5
496.7
563.3
609.3
675.3
740.2
Tax revenue
Taxes on income and profits
Taxes on property
Taxes on goods and services
Consumption taxes
Imports
Domestic goods
Hotel occupancy tax
Excises
Other
Taxes on international trade
Of which
Import duties
Service charge (imports)
405.4
105.4
4.4
173.7
112.7
107.8
4.9
19.5
6.3
35.2
120.8
452.9
110.0
3.8
194.8
121.0
114.4
6.6
22.2
7.2
44.4
144.4
518.6
132.4
3.7
210.0
123.5
117.2
6.3
26.3
7.6
52.7
172.6
566.7
156.6
5.8
198.6
115.2
104.2
8.2
29.4
6.4
47.6
205.7
619.8
160.1
4.2
217.2
123.0
111.5
8.1
29.5
3.9
60.8
238.4
685.2
196.4
5.2
237.7
125.7
112.2
9.8
33.5
2.6
76.0
246.0
57.4
30.2
69.4
39.3
75.3
46.4
90.1
52.2
98.4
65.4
107.0
64.8
Nontax revenue
36.2
43.8
44.6
42.7
55.5
54.9
Capital revenue
19.9
8.6
0.9
0.6
0.7
0.0
Capital grants
36.3
32.9
0.0
6.0
6.6
4.1
Total expenditure and net lending
637.3
611.5
647.7
761.7
831.7
815.0
Current expenditure
Wages and salaries
NIS contributions and retirement
Goods and services
Transfers
Interest payments
Domestic
External
433.6
211.6
34.3
72.8
68.4
46.6
21.9
24.7
460.0
229.9
35.2
78.0
60.2
56.6
20.2
36.4
479.8
221.3
38.2
90.4
62.9
66.9
22.2
44.8
513.3
233.7
43.3
96.1
67.2
73.0
24.1
48.9
551.4
250.9
46.3
101.5
68.5
84.3
27.7
56.6
585.0
264.7
48.1
111.5
67.8
92.9
30.7
62.3
Capital expenditure and net lending
197.5
136.1
164.3
248.4
280.3
230.0
7.9
36.8
83.5
96.0
123.9
155.1
Overall balance before grants
-176.0
-106.2
-83.5
-151.8
-155.7
-74.9
Overall balance after grants
-139.7
-73.3
-83.5
-145.8
-149.0
-70.7
Primary balance
-93.1
-16.7
-16.6
-72.7
-64.8
22.2
Financing
External
Domestic
Privatization receipts
159.5
-55.4
195.1
19.9
73.3
54.2
10.4
8.6
90.1
135.4
-45.4
0.0
157.0
116.7
40.3
0.0
151.0
58.5
92.5
0.0
89.3
-22.6
112.0
0.0
Statistical discrepancy
-19.9
0.0
-6.5
-11.3
-1.9
-18.6
0.0
8.6
0.0
0.0
0.0
0.0
Current balance
Exceptional financing
Sources: Ministry of Finance; and Fund staff estimates.
1/ Data are for fiscal years beginning April 1.
12
Table 9. St. Lucia: Operations of the Central Government 1/
(In percent of GDP)
2002/03
2003/04
2004/05
2005/06
2006/07
Prel.
2007/08
Total revenue and grants
25.8
26.2
25.5
25.6
26.9
28.2
Current revenue
22.8
24.2
25.4
25.3
26.6
28.0
Tax revenue
Taxes on income and profits
Taxes on property
Taxes on goods and services
Consumption taxes
Imports
Domestic goods
Hotel occupancy tax
Excises
Other
Taxes on international trade
Of which
Import duties
Service charge (imports)
21.0
5.5
0.2
9.0
5.8
5.6
0.3
1.0
0.3
1.8
6.3
22.0
5.4
0.2
9.5
5.9
5.6
0.3
1.1
0.3
2.2
7.0
23.4
6.0
0.2
9.5
5.6
5.3
0.3
1.2
0.3
2.4
7.8
23.5
6.5
0.2
8.2
4.8
4.3
0.3
1.2
0.3
2.0
8.5
24.4
6.3
0.2
8.6
4.8
4.4
0.3
1.2
0.2
2.4
9.4
26.0
7.4
0.2
9.0
4.8
4.3
0.4
1.3
0.1
2.9
9.3
3.0
1.6
3.4
1.9
3.4
2.1
3.7
2.2
3.9
2.6
4.1
2.5
Nontax revenue
1.9
2.1
2.0
1.8
2.2
2.1
Capital revenue
1.0
0.4
0.0
0.0
0.0
0.0
Capital grants
1.9
1.6
0.0
0.2
0.3
0.2
Total expenditure and net lending
33.0
29.8
29.2
31.6
32.8
30.9
Current expenditure
Wages and salaries
NIS contributions and retirement
Goods and services
Transfers
Interest payments
Domestic
External
22.4
11.0
1.8
3.8
3.5
2.4
1.1
1.3
22.4
11.2
1.7
3.8
2.9
2.8
1.0
1.8
21.7
10.0
1.7
4.1
2.8
3.0
1.0
2.0
21.3
9.7
1.8
4.0
2.8
3.0
1.0
2.0
21.7
9.9
1.8
4.0
2.7
3.3
1.1
2.2
22.2
10.0
1.8
4.2
2.6
3.5
1.2
2.4
Capital expenditure and net lending
10.2
6.6
7.4
10.3
11.0
8.7
Current balance
Overall balance before grants
0.4
1.8
3.8
4.0
4.9
5.9
-9.1
-5.2
-3.8
-6.3
-6.1
-2.8
Overall balance after grants
-7.2
-3.6
-3.8
-6.0
-5.9
-2.7
Primary balance
-4.8
-0.8
-0.7
-3.0
-2.6
0.8
Financing
External
Domestic
Privatization receipts
8.3
-2.9
10.1
1.0
3.6
2.6
0.5
0.4
4.1
6.1
-2.0
0.0
6.5
4.8
1.7
0.0
5.9
2.3
3.6
0.0
3.4
-0.9
4.2
0.0
Statistical discrepancy
-1.0
0.0
-0.3
-0.5
-0.1
-0.7
Exceptional financing
0.0
0.4
0.0
0.0
0.0
0.0
1,932
2,055
2,216
2,411
2,538
2,639
Memorandum item:
Nominal GDP (in millions of EC$)
Sources: Ministry of Finance; and Fund Staff estimates.
1/ Data are for fiscal years beginning April 1.
13
Table 10. St. Lucia: Monetary Survey
2002
2003
2004
2005
2006
2007
(In millions of Eastern Caribbean dollars)
Net foreign assets
Net imputed reserves (ECCB)
Commercial banks' net foreign assets
109.8
248.1
-138.3
335.2
282.6
52.5
318.7
351.5
-32.9
99.9
308.3
-208.5
117.6
356.9
-239.3
-47.7
408.2
-455.9
Net domestic assets
1,163.5
1,035.2
1,190.5
1,611.9
1,938.6
2,230.9
Net credit to the public sector
Central government
Nonfinancial public enterprises
Credit to private sector
Other 1/
-255.2
-96.3
-158.9
1,553.5
-102.0
-290.8
-104.4
-186.4
1,498.2
-132.9
-324.7
-130.7
-194.0
1,650.6
-100.0
-275.9
-90.7
-185.2
1,917.3
8.3
-246.8
-32.0
-214.8
2,386.8
-161.1
-226.2
17.2
-243.4
3,090.8
-592.5
Money plus quasi-money (M2)
Money
Quasi-money
1,273.3
287.6
985.7
1,370.4
343.1
1,027.3
1,509.2
481.3
1,027.8
1,711.8
547.3
1,164.5
2,056.2
560.7
1,495.5
2,183.2
639.0
1,544.2
(12-month change in percent of M2 at the beginning of the period)
Net foreign assets
Net domestic assets
Net credit to the public sector
Central government
Nonfinancial public enterprises
Credit to private sector
Other
-0.6
17.7
-1.2
-14.5
1.0
-8.0
3.8
-10.1
11.3
27.9
19.1
14.2
2.1
1.4
0.8
0.9
-0.2
-2.8
-0.6
-0.5
-4.3
-2.4
-2.5
-1.9
0.3
11.1
2.4
3.2
2.7
-0.1
17.7
7.2
1.7
3.4
-0.1
27.4
-9.9
1.0
2.4
0.0
34.2
-21.0
10.2
10.1
40.3
0.1
16.2
13.4
13.7
13.3
24.5
20.1
2.4
28.4
29.5
6.2
14.0
3.3
(12-months percentage change)
Credit to the private sector
Money plus quasi-money
Money
Quasi-money
Source: Eastern Caribbean Central Bank (ECCB).
1/ Includes intra-banking system float.
0.8
3.2
1.3
3.7
-3.6
7.6
19.3
4.2
14
Table 11. St. Lucia: Summary Operations of the Eastern Caribbean Central Bank
(In millions of Eastern Caribbean dollars)
2002
2003
2004
2005
2006
2007
248.1
282.6
351.5
308.3
356.9
408.2
Net claims on commercial banks
-167.6
-190.7
-238.6
-191.9
-210.5
-237.0
Claims
Liabilities
Currency (ECCB notes and coins)
Statutory reserves and deposits
Current Deposits
0.0
-167.6
-40.8
-126
-1
0.0
-190.8
-41.0
-150
0
0.0
-238.7
-41.3
-197
0
0.0
-192.0
-55.3
-137
0
0.0
-210.6
-52.7
-158
0
0.0
-237.0
-59.1
-178
0
Net claims on statutory bodies
0.0
0.0
0.0
0.0
0.0
0.0
Net domestic assets
Net credit to central government
Short-term credit
Temporary advances
Treasury bills
Debentures
Other claims
Central-government deposits
Other items net
3.1
-1.9
-5.0
3.3
0.2
5.0
2.2
-7.7
5.0
-0.6
-4.6
-4.0
2.9
0.2
5.0
1.1
-9.8
4.0
-13.8
-16.7
-3.0
3.9
0.2
5.0
0.0
-22.9
3.0
-10.0
-12.0
-2.0
4.2
0.0
5.0
0.0
-19.2
2.0
-19.8
-20.8
-1.0
7.0
0.0
0.0
0.0
-26.8
1.0
-43.2
-43.2
0.0
11.2
0.0
0.0
0.0
-54.3
0.0
83.6
124.4
-40.8
91.3
132.3
-41.0
99.2
140.5
-41.3
106.4
161.7
-55.3
126.6
179.3
-52.7
128.0
187.1
-59.1
Net (imputed) international reserves 1/
Currency in circulation
Total currency issued
Less: Currency held by banks
Source: Eastern Caribbean Central Bank (ECCB).
1/ Share of St. Lucia in the international reserves of the ECCB, calculated as the difference
between liabilities to the private sector and net claims on commercial banks and government.
15
Table 12. St. Lucia: Consolidated Accounts of the Commercial Banks
(In millions of Eastern Caribbean dollars)
2002
2003
2004
2005
2006
2007
Net foreign assets
-138.3
52.5
-32.9
-208.5
-239.3
-455.9
Foreign assets
Foreign currency holdings
Claims on ECCB area banks
Claims on banks abroad
Other 1/
Foreign liabilities
Balances due to ECCB area banks
Balances due to banks abroad
Nonresident deposits
Other
232.6
10.5
78.9
47.1
96.1
-370.9
-49.4
-94.7
-147.2
-79.7
428.8
10.5
184.7
97.7
135.9
-376.3
-18.0
-124.2
-145.3
-88.7
444.4
8.9
95.2
115.4
224.9
-477.2
-102.7
-116.4
-169.3
-88.8
492.3
12.7
70.9
80.4
328.3
-700.8
-248.6
-179.3
-187.6
-85.3
815.2
11.0
295.9
176.6
331.6
-1,054.5
-366.1
-331.8
-264.4
-92.1
1,070.6
18.1
481.2
118.7
452.7
-1,526.6
-704.1
-418.1
-290.9
-113.4
Net position with ECCB
172.8
190.1
240.6
188.5
198.6
190.1
Net claims on ECCB
Currency holdings
Current deposits
Fixed deposits and call accounts
Liabilities to ECCB
173.9
40.8
112.4
20.7
-1.0
194.1
41.0
120.4
32.7
-4.1
240.6
41.3
198.1
1.1
0.0
198.6
55.3
142.1
1.1
-10.2
204.4
52.7
149.1
1.1
-5.8
207.3
59.1
147.1
1.1
-17.2
Net domestic assets
1,155.2
1,036.5
1,202.3
1,625.4
1,970.3
2,321.0
Net credit to government
Treasury bills
Other securities
Loans and advances
Deposits
Net credit to National Insurance Scheme
Net credit to public enterprises
Loans, advances, and investments
Deposits
Net credit to other financial institutions
Loans, advances, and investments
Deposits
Credit to private sector
Interbank float
Claims
Liabilities
-99.4
20.3
52.2
70.1
-242.1
-174.3
15.5
65.3
-49.8
-32.7
28.3
-61.0
1,553.5
1.7
28.1
-26.5
-103.8
28.1
71.1
31.8
-234.8
-229.5
43.1
96.0
-52.9
-39.3
31.7
-71.0
1,498.2
0.9
18.7
-17.9
-117.0
11.3
132.0
34.2
-294.6
-240.9
46.9
99.9
-52.9
-35.4
30.8
-66.2
1,650.6
4.0
17.4
-13.4
-80.6
32.2
179.2
58.4
-350.5
-248.2
62.9
120.0
-57.0
-37.8
36.8
-74.5
1,917.3
6.8
22.7
-15.9
-12.2
23.8
172.4
87.5
-295.8
-264.2
49.4
116.1
-66.7
-40.4
37.2
-77.6
2,386.8
5.2
23.7
-18.5
60.4
12.8
174.2
152.3
-278.9
-291.7
48.3
112.4
-64.2
-41.3
38.1
-79.4
3,090.8
11.9
28.0
-16.1
-108.9
-133.0
-105.9
5.0
-154.4
-557.4
1,189.7
204.0
652.3
309.6
23.8
1,279.1
251.8
755.2
240.2
31.9
1,410.0
382.2
810.4
178.7
38.7
1,605.4
440.9
916.3
185.9
62.2
1,929.6
434.1
1,064.9
222.7
207.9
2,055.2
510.9
1,150.8
283.3
110.2
Net unclassified assets
Liabilities to the private sector 2/
Demand deposits
Saving deposits
Time deposits
Foreign currency deposits
Sources: Eastern Caribbean Central Bank (ECCB); and Fund staff projections.
1/ Includes financial instrument issued by and loans to nonbank residents of countries ouside ECCB territory.
2/ Private sector includes nonbank financial institutions.
16
Table 13. St. Lucia: Distribution of Commercial Bank Loans and Advances
2002
2003
2004
2005
2006
2007
(In millions of Eastern Caribbean dollars at end of period)
Total
1,721.2
1,721.1
1,807.7
2,174.6
2,732.7
3,510.8
Public sector
Government and public enterprises, n.i.e.
Public utilities
149.9
112.3
37.5
89.8
67.5
22.3
124.2
102.5
21.7
170.6
149.9
20.7
197.4
154.9
42.5
330.1
215.7
114.3
Businesses
Agriculture and fisheries
Manufacturing and mining
Distributive trades
Tourism and entertainment
Transport
Construction and land development
Professional and other services
Financial institutions
813.2
34.9
56.9
214.0
212.2
33.2
110.9
135.9
15.2
766.6
34.51
54.2
197.8
198.8
28.0
101.4
125.0
26.9
849.3
33.4
106.9
195.2
161.7
24.0
108.5
202.4
17.2
1,046.4
31.5
59.9
227.7
293.8
50.2
121.8
218.5
43.1
1507.2
30.5
67.3
236.2
506.0
88.8
166.4
370.0
42.0
2031.3
35.9
62.3
239.4
793.9
112.4
244.0
505.7
37.8
Households
House and land purchases
Durable consumer goods
Other personal loans
758.1
325.7
63.9
368.6
864.7
408.6
64.8
391.3
834.3
413.4
80.5
340.4
957.6
465.0
109.7
382.9
1,028.2
503.3
138.9
386.0
1,149.4
513.1
187.9
448.4
(In percent of total)
Public sector
Government and public enterprises, n.i.e.
Public utilities
8.7
6.5
2.2
5.2
3.9
1.3
6.9
5.7
1.2
7.8
6.9
1.0
7.2
5.7
1.6
9.4
6.1
3.3
Businesses
Agriculture and fisheries
Manufacturing and mining
Distributive trades
Tourism and entertainment
Transport
Construction and land development
Professional and other services
Financial institutions
47.2
2.0
3.3
12.4
12.3
1.9
6.4
7.9
0.9
44.5
2.0
3.2
11.5
11.5
1.6
5.9
7.3
1.6
47.0
1.8
5.9
10.8
8.9
1.3
6.0
11.2
1.0
48.1
1.4
2.8
10.5
13.5
2.3
5.6
10.0
2.0
55.2
1.1
2.5
8.6
18.5
3.3
6.1
13.5
1.5
57.9
1.0
1.8
6.8
22.6
3.2
6.9
14.4
1.1
Households
House and land purchases
Durable consumer goods
Other personal loans
44.0
18.9
3.7
21.4
50.2
23.7
3.8
22.7
46.1
22.9
4.5
18.8
44.0
21.4
5.0
17.6
37.6
18.4
5.1
14.1
32.7
14.6
5.4
12.8
Source: Eastern Caribbean Central Bank (ECCB).
17
Table 14. St. Lucia: Summary Balance of Payments
2002
2003
2004
2005
2006
Prel.
2007
(In millions of U.S. dollars)
Current account
Trade balance
Exports, f.o.b.
Imports, f.o.b.
Services (net)
Receipts
Travel
Other nonfactor services
Factor services
Payments
Travel
Other nonfactor services
Factor services
Of which
Public interest payments
Current transfers (net)
Capital and financial account
Capital transfers (net)
Official borrowing (net)
Central government loan drawings
Central government loan amortization
Other (net)
Private capital
Private long-term (net)
Of which
Direct investment (net)
Commercial banks
Other short term capital (net)
Overall balance
Financing (increase -)
Change in SDR holdings
Change in government foreign assets
Change in imputed reserves (increase -)
-106.0
-202.6
69.3
-271.9
84.5
253.5
210.0
39.9
3.6
169.0
33.7
95.3
39.9
-110.3
-245.7
109.3
-355.1
122.6
323.2
282.1
36.2
4.9
200.6
35.7
109.3
55.7
-87.5
-251.8
96.2
-348.0
150.4
373.3
325.7
41.5
6.2
222.9
36.8
110.9
75.2
-150.1
-329.3
88.8
-418.1
166.2
418.6
356.0
54.5
8.1
252.3
38.9
132.8
80.6
-277.4
-403.6
117.4
-521.0
114.2
347.5
287.5
49.6
10.4
233.3
39.3
129.5
64.4
-279.6
-405.9
135.9
-541.8
114.3
357.2
299.4
51.6
6.2
242.9
41.4
135.2
66.4
11.0
12.1
17.0
12.9
18.0
13.9
17.2
13.0
19.7
12.0
23.0
12.0
126.0
19.7
41.5
0.4
15.4
24.2
64.8
57.2
145.9
17.1
72.4
0.4
26.8
31.0
56.4
129.2
101.0
3.5
24.4
0.5
9.0
16.5
73.2
53.2
139.7
5.3
43.2
0.5
16.0
21.6
91.1
66.5
321.8
11.4
21.7
0.5
8.0
13.7
288.7
224.3
303.5
5.8
-8.4
0.5
-3.1
16.8
306.1
225.9
51.9
7.6
0.0
106.4
-72.8
0.0
76.5
20.0
0.0
78.2
24.6
0.0
233.9
64.4
0.0
233.9
80.2
0.0
5.8
18.3
26.8
-15.3
13.4
19.0
-5.8
0.0
-1.0
-4.8
-18.3
0.0
-5.5
-12.8
-26.8
0.0
-1.3
-25.5
15.3
0.0
-0.7
16.0
-13.4
0.0
4.6
-18.0
-19.0
0.0
0.0
-19.0
-10.9
12.6
-17.1
15.9
-29.7
34.5
-29.1
31.6
(In percent of GDP)
Current account
Capital and financial account
-15.0
17.9
-14.7
19.5
Sources: St. Lucian authorities; Eastern Caribbean Central Bank (ECCB); and Fund staff
estimates.
18
Table 15. St. Lucia: Value, Volume, and Unit Value of Major Exports
2002
2003
2004
2005
2006
Prel.
2007
(In thousands of U.S. dollars)
Total goods exports
Domestic exports
Re-exports
Repairs and goods procured in ports
69,342
42,937
19,120
7,285
109,333
38,830
60,780
9,722
96,163
45,141
34,489
16,532
88,773
43,729
20,431
24,612
117,355
51,960
41,054
24,341
135,929
55,122
55,217
25,589
Domestic exports (SITC categories)
Food and live animals
Beverages and tobacco
Crude materials (except fuel)
Minerals, fuel, lubricants and related materials
Animal and vegetable oils and fats
Chemicals and related products
Manufactured goods classified chiefly by materials
Machinery and transport equipment
Miscellaneous manufactured articles
Other, and statistical discrepancy
42,937
23,584
8,626
213
0
49
366
4,010
2,967
3,115
7
38,830
17,809
10,640
412
0
5
394
3,592
2,966
3,011
2
45,141
21,216
11,710
1,011
0
76
1,414
4,237
2,923
2,548
6
43,729
20,819
11,711
567
0
0
899
4,237
2,880
2,548
69
51,960
19,242
15,084
1,142
0
0
1,186
5,308
8,614
1,323
62
55,122
17,453
19,460
1,816
0
47
1,767
5,282
7,421
1,684
191
(Value change in percent)
Total goods exports
Domestic exports
Bananas
Memorandum item:
Bananas exports ('000s U.S. dollars)
27.8
15.6
42.4
3.6
-9.0
-25.7
-12.0
16.3
24.7
-7.7
-3.1
-23.7
32.2
18.8
15.9
21,707
16,136
20,125
15,370
17,815
Sources: Statistics Department; St. Lucia Banana Growers Association, Windward Islands Banana Development and
Exporting Company (WIBDECO); and Fund staff estimates.
15.8
6.1
-9.2
16,167
19
Table 16. St. Lucia: Merchandise Imports by SITC Category
2002
2003
2004
2005
2006
Prel.
2007
(In millions of U.S. dollars)
Total imports, c.i.f.
Food
Beverages and tobacco
314.8
62.6
12.0
403.5
75.6
15.3
421.4
83.7
16.9
482.4
86.7
17.7
592.0
94.6
20.5
615.7
96.8
26.5
Crude materials
Fuels
Oils and fats
8.0
31.0
0.4
8.9
45.7
0.8
10.1
54.8
1.0
13.3
67.0
1.5
16.3
76.3
1.5
12.5
130.6
1.6
Chemicals
Manufactured goods
26.4
53.2
29.4
61.4
33.2
68.0
35.7
75.6
40.6
105.0
36.6
77.1
Machinery and transport equipment
Miscellaneous manufactured articles
72.3
49.0
105.7
60.7
85.1
68.4
106.7
77.9
153.2
83.9
152.7
81.2
0.1
0.1
0.1
0.1
0.3
0.3
Miscellaneous
(In percent of total)
100.0
19.9
100.0
18.7
100.0
18.8
100.0
18.0
100.0
16.0
100.0
15.7
Beverages and tobacco
Crude materials
Fuels
3.8
2.5
9.9
3.8
2.2
11.3
3.8
2.3
17.3
3.7
2.7
13.9
3.5
2.8
12.9
4.3
2.0
21.2
Oils and fats
Chemicals
0.1
8.4
0.2
7.3
0.2
7.5
0.3
7.4
0.2
6.9
0.3
5.9
16.9
23.0
15.6
15.2
26.2
15.0
15.3
19.3
15.5
15.7
22.1
16.1
17.7
25.9
14.2
12.5
24.8
13.2
0.0
0.0
0.0
0.0
0.0
0.0
1.8
44.7
28.2
53.9
4.4
52.6
14.5
54.9
22.7
63.4
4.0
64.1
Total imports, c.i.f.
Food
Manufactured goods
Machinery and transport equipment
Miscellaneous manufactured articles
Miscellaneous
Memorandum items:
Total imports, c.i.f.
Percent change
Ratio to GDP (percent)
Sources: Statistics Department of the Ministry of Finance; and Fund staff estimates.
20
Table 17. St. Lucia: Imports and Prices of Petroleum Products
(Values and taxes in millions of Eastern Caribbean dollars, quantities in millions of imperial
gallons, and prices in Eastern Caribbean dollar per imperial gallon; unless otherwise indicated)
2002
2003
2004
2005
2006
2007
Gasoline
Value of imports for domestic use
Domestic value
Domestic volume
Volume of duty-free and re-exports
Retail price
Consumption tax collected
26.9
93.6
12.0
0.2
7.8
35.2
31.5
94.4
12.1
0.1
7.8
25.1
60.4
102.0
12.0
0.1
8.5
60.4
51.3
109.3
11.5
0.3
9.5
13.0
135.9
119.7
12.6
0.2
9.5
12.9
...
...
...
...
12.8
...
Diesel
Value of imports for domestic use
Domestic value
Domestic volume
Volume of duty-free and re-exports
Retail price
Consumption tax collected
4.8
16.9
2.4
1.1
7.0
6.5
11.5
34.0
4.9
1.1
7.0
6.3
…
22.6
2.9
0.3
7.8
4.5
…
23.8
2.7
0.1
8.8
2.2
5.1
41.4
4.7
18.3
8.8
2.4
...
...
...
...
12.8
...
284.5
305.5
309.1
323.9
331.9
345.7
89.1
86.7
12.7
96.0
93.3
91.8
13.2
107.2
95.9
95.7
13.0
104.5
98.9
101.6
12.5
110.9
101.6
103.4
13.0
113.8
104.8
106.9
15.8
118.2
Electricity consumption (millions of kwh)
Of which
Domestic
Commercial
Industrial
Other and losses
Sources: Ministry of Finance; Statistics Department; Eastern Caribbean Central Bank (ECCB); and LUCELEC.
21
Table 18. St. Lucia: Merchandise Trade Volumes, Unit Values and Terms of Trade
2004
2005
Prel.
2006
99.8
69.9
105.0
109.7
79.1
114.9
111.0
67.9
118.4
106.4
72.9
112.2
108.8
70.7
115.4
99.2
90.1
91.8
102.2
93.2
94.9
103.5
93.8
112.1
102.4
102.7
102.3
129.0
110.2
108.4
110.3
144.9
105.0
111.0
104.3
159.8
104.9
113.9
103.8
182.2
84.6
92.3
79.3
79.6
76.0
74.8
65.7
69.5
57.5
62.5
2003
Prel.
2007
(2000 = 100)
Volumes
Exports
Merchandise exports 1/
Tourism 2/
Merchandise imports
Unit values
Exports
Merchandise exports 1/
Tourism 3/
Merchandise imports
Terms of trade
(Excluding tourism)
(Annual percentage change)
Volumes
Exports
Merchandise exports 1/
Tourism 2/
Merchandise imports
6.1
-18.5
9.4
13.6
9.9
13.2
9.4
-9.2
1.2
-14.2
3.0
1.9
-4.2
7.5
-5.3
11.3
2.3
-3.0
2.9
-8.8
Unit values
Exports
Merchandise exports 1/
Tourism 3/
Merchandise imports
9.5
1.8
11.8
12.9
7.9
-0.8
9.1
15.1
7.6
5.6
7.8
12.3
-4.7
2.4
-5.5
10.3
-0.1
2.6
-0.4
14.0
Terms of trade
(Excluding tourism)
-3.0
-9.8
-6.3
-13.8
-4.2
-6.0
-13.6
-7.2
-12.4
-10.0
Sources: Statistical Department, Ministry of Finance; and Fund staff estimates.
1/ Based on merchandise export items accounting for about 90 percent of total domestic
exports.
2/ Number of tourist arrivals.
3/ Average expenditure per day of each tourist.
22
Table 19. St. Lucia: Direction of Trade
(In percent of total)
Export destination
United Kingdom
United States
Canada
CARICOM countries
Barbados
Jamaica
Trinidad and Tobago
OECS
Dominica
Grenada
St. Vincent
Antigua
Montserrat
St. Kitts and Nevis
Other
Origin of imports
United Kingdom
United States
Canada
Japan
France
Germany
CARICOM countries
Barbados
Jamaica
Trinidad and Tobago
OECS
Of which
St. Vincent
Other CARICOM
Other
2002
2003
2004
2005
2006
Prel.
2007
100.0
100.0
100.0
100.0
100.0
100.0
52.2
11.4
0.2
33.5
10.9
0.3
4.1
16.7
7.2
3.7
2.4
1.7
0.2
1.5
2.8
42.6
11.4
0.4
43.3
10.9
0.5
11.1
19.0
7.1
4.4
4.5
1.2
0.1
1.8
2.4
46.0
9.2
0.2
42.7
10.4
0.1
11.8
19.1
8.4
4.3
3.4
1.7
0.1
1.3
1.9
18.9
7.4
0.3
65.4
10.0
0.1
36.1
19.2
4.7
5.8
4.1
3.1
0.2
1.3
15.2
33.6
7.7
0.1
42.9
1.2
0.0
37.4
3.7
0.8
0.8
1.1
1.1
0.0
0.5
15.8
28.1
12.7
0.2
54.8
11.8
0.3
23.5
18.0
5.2
3.4
4.4
3.5
0.0
1.4
4.2
100.0
100.0
100.0
100.0
100.0
100.0
8.5
37.5
3.8
4.5
1.0
2.0
21.7
2.8
0.8
14.4
2.6
8.6
35.7
3.3
4.1
0.9
1.6
25.3
3.0
0.9
17.0
2.9
7.7
35.1
2.1
3.3
1.2
1.4
21.6
3.3
0.9
14.2
2.2
8.7
50.0
3.1
6.1
1.9
2.0
27.3
4.1
1.1
19.1
1.5
8.8
43.8
3.5
8.0
1.9
1.9
30.8
5.6
0.9
21.4
1.4
4.6
31.9
1.8
6.3
1.0
1.1
27.5
4.2
0.8
19.9
1.8
1.3
1.1
20.9
1.2
1.5
20.6
0.7
1.1
27.5
0.8
1.5
0.1
1.2
1.5
0.1
0.8
0.9
25.7
Sources: Statistics Department of the Ministry of Finance.
23
Table 20. St. Lucia: Selected Tourism Statistics
2003
2004
2005
Prel.
2006
Prel.
2007
683,027
276,948
235,406
16,617
24,925
12,817
393,262
791,151
298,431
255,383
17,219
25,829
11,441
481,279
719,911
317,939
270,248
19,076
28,615
7,541
394,431
669,154
302,510
257,134
18,151
27,226
7,051
359,593
905,524
287,518
244,390
17,251
25,877
7,841
610,165
237.9
255.4
265.0
265.0
171.0
122.9
118.0
250.6
282.4
294.0
294.0
180.5
124.7
119.8
279.8
315.3
328.3
328.3
201.5
139.2
133.7
264.5
298.0
310.3
310.3
190.5
131.6
126.4
263.3
296.7
308.9
308.9
189.7
131.0
125.8
4.7
10.1
10.4
3.5
11.5
1.0
1.0
4.4
10.1
10.4
3.5
11.5
1.0
1.0
5.0
10.1
10.4
3.5
11.5
1.0
1.0
5.1
10.1
10.4
3.5
11.5
1.0
1.0
3.9
10.1
10.4
3.5
11.5
1.0
1.0
Visitor expenditure (millions of EC$)
Stayover arrivals
Hotel tourist
Hotel business
Private residence
Excursionist
Cruiseship
761.6
713.6
648.8
15.9
49.0
1.6
46.4
876.3
817.2
745.9
17.7
53.6
1.4
57.6
961.2
896.4
818.1
19.4
58.8
1.6
63.2
793.7
740.2
675.6
16.0
48.6
1.3
52.2
857.1
799.4
729.6
17.3
52.4
1.4
56.4
Total visitor expenditure
In millions of U.S. dollars
In percent of GDP
282.1
37.8
324.5
40.7
356.0
40.6
294.0
31.5
317.5
33.1
-9.0
6.5
-7.1
-4.9
35.3
-5.0
Total visitor arrivals
Stayover arrivals
Hotel tourist
Hotel business
Private residence
Excursionist
Cruiseship
Average daily expenditure (EC$)
Stayover arrivals
Hotel tourist
Hotel business
Private residence
Excursionist
Cruiseship
Average length of stay (days)
Stayover arrivals
Hotel tourist
Hotel business
Private residence
Excursionist
Cruiseship
(In percent change)
Tourist arrivals
Stayover arrivals
5.3
9.3
15.8
7.8
24
Table 21. St. Lucia: Stayover Tourist Arrivals by Country of Origin
2002
2003
2004
2005
2006
2007
298.4
107.1
81.4
15.3
74.2
7.7
3.3
9.4
317.9
112.6
84.7
16.5
84.7
7.2
3.3
8.9
302.5
117.5
73.3
17.5
78.5
3.8
2.6
9.5
287.5
113.4
79.2
18.6
59.0
3.6
1.6
12.0
100.0
35.9
27.3
5.1
24.9
2.6
1.1
3.2
100.0
35.4
26.6
5.2
26.6
2.3
1.0
2.8
100.0
38.8
24.2
5.8
25.9
1.2
0.8
3.1
100.0
39.5
27.5
6.5
20.5
1.3
0.6
4.2
(Number of arrivals in thousands)
Total stayover arrivals
United States
United Kingdom
Canada
Caribbean
France
Germany
Other
253.5
94.0
63.3
12.9
66.4
3.4
3.9
9.5
276.9
98.1
75.4
13.5
70.5
6.0
5.6
7.8
(In percent of total)
Total arrivals
United States
United Kingdom
Canada
Caribbean
France
Germany
Other
100.0
37.1
25.0
5.1
26.2
1.3
1.6
3.7
100.0
35.4
27.2
4.9
25.5
2.2
2.0
2.8
Sources: Statistics Department of the Ministry of Finance; Tourism Board; and Fund staff estimates.
25
Table 22. St. Lucia: Structure of Public Debt
(In millions of U.S. dollars, unless otherwise stated)
2003/04
2004/05
2005/06
2006/07
2007/08
108.8
85.5
13.0
1.7
28.2
42.6
14.7
8.6
158.7
135.8
11.5
0.6
79.8
43.9
14.3
8.5
172.0
151.1
18.1
0.0
111.4
21.6
13.2
7.8
198.6
179.0
41.9
0.0
123.2
13.9
12.2
7.4
242.8
224.4
56.6
0.0
143.1
24.7
11.5
6.9
85.5
85.5
8.5
33.4
1.5
15.5
0.9
24.8
0.8
135.8
135.8
8.5
72.2
8.9
14.6
1.0
29.7
1.0
151.1
151.1
3.0
94.1
8.0
15.1
1.0
29.7
0.3
179.0
179.0
1.1
109.2
24.4
15.4
1.1
27.6
0.2
224.4
224.4
0.7
135.4
43.0
14.0
0.9
30.2
0.2
External debt (by debtor and creditor)
Central government
Bilateral
Multilateral
Commercial banks
Of which
Loans
Bonds
Export credit
Other (bonds)
Government guaranteed
Bilateral
Multilateral
Government nonguaranteed
Bilateral
Multilateral
Commercial banks
341.1
277.5
21.7
104.3
137.2
0.0
14.2
122.9
1.3
13.1
51.5
6.1
45.3
12.1
0.0
1.2
10.9
369.7
310.4
23.1
129.7
130.8
0.0
14.2
116.6
1.1
25.7
47.1
5.5
41.5
12.2
0.0
1.3
10.9
417.0
359.3
25.3
167.7
125.2
0.0
14.2
111.0
1.1
40.1
45.3
4.8
40.5
12.3
0.0
1.5
10.9
418.1
361.6
31.6
181.1
113.3
0.0
14.2
99.1
0.8
34.9
44.3
4.3
40.0
12.2
0.0
1.3
10.9
441.8
356.6
32.2
191.4
101.4
0.0
14.2
87.2
0.6
30.9
40.9
2.2
38.7
44.3
0.0
44.3
0.0
Central-government debt
363.0
446.2
510.4
540.6
581.0
16.4
16.4
0.0
6.3
0.0
6.3
78.3
26.9
51.4
96.0
78.3
17.7
92.3
33.9
58.4
63.8
48.6
15.2
63.3
26.4
36.9
68.6
53.4
15.2
79.1
33.7
45.4
124.0
70.2
53.8
449.9
528.3
589.0
616.7
684.6
16.4
6.3
78.3
96.0
92.3
63.8
63.3
68.6
79.1
124.0
Domestic debt (by debtor)
Central government
Loans
Overdraft
Bonds
Treasury bills
Government guaranteed (loans)
Government nonguaranteed (loans)
Domestic debt (by creditor)
Central government
Central bank
Commercial banks
Financial institutions
Insurance company
Public holders
Social security
Other 1/
Disbursements
Domestic
External
Amortization
Domestic
External
Total public debt
Disbursements
Amortization
Sources: Ministry of Finance; and Fund staff estimates.
1/ Includes National Savings and Development bonds and RGSM bonds.
26
Table 23. St. Lucia: Structure of Public Debt
(In percent of GDP)
2003/04
2004/05
2005/06
2006/07
2007/08
Domestic debt (by debtor)
Central government
Loans
Overdraft
Bonds
Treasury bills
Government guaranteed (loans)
Government nonguaranteed (loans)
14.3
11.2
1.7
0.2
3.7
5.6
1.9
1.1
19.3
16.5
1.4
0.1
9.7
5.4
1.7
1.0
19.3
16.9
2.0
0.0
12.5
2.4
1.5
0.9
21.1
19.0
4.5
0.0
13.1
1.5
1.3
0.8
24.8
23.0
5.8
0.0
14.6
2.5
1.2
0.7
Domestic debt (by creditor)
Central government
Central bank
Commercial banks
Financial institutions
Insurance company
Public holders
Social security
Other 1/
11.2
1.1
4.4
0.2
2.0
0.1
3.3
0.1
16.5
1.0
8.8
1.1
1.8
0.1
3.6
0.1
16.9
0.3
10.5
0.9
1.7
0.1
3.3
0.0
19.0
0.1
11.6
2.6
1.6
0.1
2.9
0.0
23.0
0.1
13.8
4.4
1.4
0.1
3.1
0.0
External debt (by debtor and creditor)
Central government
Bilateral
Multilateral
Commercial banks
Of which
Loans
Bonds
Export credit
Other (bonds)
Government guaranteed
Bilateral
Multilateral
Government nonguaranteed
Bilateral
Multilateral
Commercial banks
44.8
36.5
2.8
13.7
18.0
0.0
1.9
16.1
0.2
1.7
6.8
0.8
6.0
1.6
0.0
0.2
1.4
45.0
37.8
2.8
15.8
15.9
0.0
1.7
14.2
0.1
3.1
5.7
0.7
5.1
1.5
0.0
0.2
1.3
46.7
40.2
2.8
18.8
14.0
0.0
1.6
12.4
0.1
4.5
5.1
0.5
4.5
1.4
0.0
0.2
1.2
44.5
38.5
3.4
19.3
12.1
0.0
1.5
10.5
0.1
3.7
4.7
0.5
4.3
1.3
0.0
0.1
1.2
45.2
36.5
3.3
19.6
10.4
0.0
1.5
8.9
0.1
3.2
4.2
0.2
4.0
4.5
0.0
4.5
0.0
Central-government debt
47.7
54.4
57.2
57.5
59.4
2.2
2.2
0.0
0.8
0.0
0.8
9.5
3.3
6.3
11.7
9.5
2.2
10.3
3.8
6.5
7.1
5.4
1.7
6.7
2.8
3.9
7.3
5.7
1.6
8.1
3.4
4.6
12.7
7.2
5.5
59.1
64.4
66.0
65.6
70.0
2.2
0.8
9.5
11.7
10.3
7.1
6.7
7.3
8.1
12.7
2,055.2
2,215.8
2,410.6
2,537.8
2,639.5
Disbursements
Domestic
External
Amortization
Domestic
External
Total public debt
Disbursements
Amortization
Memorandum item:
Nominal GDP (EC$ millions)
Sources: Ministry of Finance; and Fund staff estimates.
1/ Includes National Savings and Development bonds and RGSM bonds.
27
Table 24. St. Lucia: Effective Exchange Rate Indices 1/
(2000 = 100)
Real Effective
Exchange Rate 2/
Nominal Effective
Exchange Rate 2/
Relative Consumer
Prices
2003
I
II
III
IV
98.7
97.2
96.8
94.6
99.0
98.4
99.1
97.3
99.7
98.7
97.7
97.3
2004
I
II
III
IV
92.3
93.2
93.3
90.8
95.9
97.1
96.4
94.4
96.2
96.0
96.7
96.2
2005
I
II
III
IV
90.3
91.5
92.2
93.9
93.7
94.7
95.7
96.8
96.3
96.7
96.3
97.0
2006
I
II
III
IV
94.4
92.4
91.0
90.3
96.7
95.3
94.9
94.6
97.7
96.9
95.9
95.4
2007
I
II
III
IV
88.9
87.5
88.2
89.1
94.4
93.5
92.9
91.6
94.2
93.5
94.9
97.2
2008
I
89.4
91.2
98.0
2002
2003
2004
2005
2006
2007
101.8
96.8
92.4
92.0
92.0
88.4
101.4
98.4
96.0
95.2
95.4
93.1
100.3
98.4
96.3
96.6
96.5
95.0
Source: IMF Information Notice System.
1/ Period averages.
2/ Increases denote appreciation.