2019 Annual Gross Domestic Product Press Release

St. Johns, Antigua, 24 August 2020. The Statistics Division releases the Annual  Gross Domestic Product (GDP) for 2019.

Antigua and Barbuda’s economic activity expanded in 2019 by 3.4% to EC$ 3.6 billion, a downward revision from the previous growth estimate of 5.3% published in August 2019[1]  The 3.4% growth in 2019 was broad based owing to growth in all major industries namely: Construction (6.6%), Hotels and Restaurants (7.8%), Public Administration (5.7%), Transport, Storage and Communication (3.9%) and Financial Intermediation (4.8%). Together, these industries account for 56.7% of total GDP for Antigua and Barbuda. Growth in these industries were mitigated by a decline in the Manufacturing Industry (6.2%).

Construction activity on the island remained strong due to continued activity within both the public sector (e.g. roads and rehabilitation project, St John’s modernisation project and Government affordable housing project) and private sector (tourism and Citizenship by Investment Programme related projects).

The performance of the Hotels and Restaurants industry was owed to an increase in stay over arrivals to the island by 11.9% with an increase in major markets; USA (18.7%) and UK (8.8%). This was primarily due to increased airlift from the major source markets, namely Jet Blue and American Airlines from the USA and Virgin Atlantic from the UK.


[1] Previous 2019 GDP estimate was a projected estimate based on available data for the period January to September 2019. The revised 2019 GDP estimate is based on a comprehensive compilation exercise for the entire year. The most significant revisions made were within the construction and hotels and restaurants industries. These revisions were as a result of an unanticipated decline in construction activity during the last quarter of 2019 and updates to tourism estimates for 2019.

 

2019 Gross Domestic Product data tables: