The Statistical Institute has released the economic figures for the 3rd quarter - that is, from July to September. There has been very minimal growth. We start off with the Gross Domestic Product. For this period, there has been a marginal 0.5% growth compared to the same period last year which documented a 1.2% decrease. Here is Statistician Angelita Campbell with the breakdown.
Now that slight increase in GDP has to do with good performance in the tertiary industries including tourism, transportation, communication among other categories. But the same can't be said for the primary and secondary sectors. there were notable decreases in both. For the primary sector, there was a major decline in fishing while in the secondary industry - the production of beverages including beers and softdrinks declined. Here are more details.
Regarding the secondary sector, the decrease in production of soft drinks is due to the importation of soft drinks. And just to note, in the tertiary industry although there are a significant number of cruise passengers there is a decrease in hotel room earnings because more tourists are staying at cheaper hotels and booking on sites like AirBandB.
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