St. John’s, Antigua, November 12, 2025: The Antigua and Barbuda National Bureau of Statistics (formerly The Statistics Division) releases the 2024 Gross Domestic Product estimates.
The country’s economy grew by 2.5% in 2024, with real GDP at market prices reaching EC$ 4.69 billion, compared to revised growth of 3.9% or EC$ 4.58 billion in 2023, a difference of EC$ 116 million.
The growth in economic activity expanded in real terms for the following industries:
- Accommodation and Food Service Activities (+14.2%)
- Public Administration, Defence and Compulsory Social Security (+12.4%)
- Transport and Storage (+10.1%)
- Manufacturing (+6.5%)
Conversely, the following industries experienced a contraction in real terms:
- Construction (-7.3%)
- Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles (-2.3%).
Details
The Accommodation and Food Service Activities grew by 14.2% in 2024, up from 3.0% in 2023. Total stay-over arrivals in 2024 increased to 330,277, a 17.2% rise from 281,896 stay-over arrivals in 2023. In 2024, stay-over arrivals from the United States increased by 26.3%, Canada increased by 7.4%, and the United Kingdom increased by 3.8%. The increase in stay-over arrivals was driven by the expansion of air capacity through increased flight frequency and the ICC Cricket World Cup.
Public Administration, Defence, and Compulsory Social Security sector expanded by 12.4% in 2024, compared to a 1.2% increase in 2023. This growth was primarily driven by an increase in the public workforce through new Civil Service employment, staff cross-over to different ministries, promotions to higher office, and the expansion of the Government’s Work Experience Programme.
Transport and Storage sector recorded an overall growth of 10.1% in 2024, compared to 7.5% in 2023. Air transportation sector grew by 43.1% recording an increase in total air passenger movement of 17.2%, reaching 941,125 passengers in 2024 compared to 799,800 in 2023. Road transportation sector grew by 11.9%, driven by increased nationwide road rehabilitation, particularly on the Sir George Sydney Highway, Friars Hill Road, and Valley Road. Warehousing and Support Activities sector contracted by 8.8% in 2024, a reversal from the 7.1% growth recorded in 2023. This downturn is attributed to global economic shifts and fluctuations in commodity prices. This contraction reflects increased competition from private courier services, which have posed challenges to traditional postal services.
Manufacturing sector grew by 6.5% in 2024, compared to a contraction of 8.5% in 2023. This upward swing was driven by the Manufacture of other food products not elsewhere classified and dairy products, which increased by 20.5% and 18.2%, respectively. The Manufacture of Beverages expanded by 17.7%. The Manufacture of Chemicals and Chemical Products contributed to the sector’s overall growth with a 5.6% increase, highlighting a recovery in domestic production and output across a range of manufactured goods.
The Construction, Mining, and Quarrying sector contracted by 7.3% in 2024, a shift from the 8.9% growth recorded in 2023. This downturn was driven by an 11.9% decrease in the import of construction materials, as well as a reduction in imports of building materials such as iron, steel, plywood, doors, and their frames and thresholds.
In 2024, imports of cement decreased by 52.5% compared to 3.4% increase in 2023. This decrease was driven by the scarcity of the product across the region, which has been impacting construction sectors in various Caribbean nations. Construction of major private and public sector projects, including residential construction, hotel developments, airport and port expansions, continued despite the challenges.
The production of stones contracted by 7.4% in 2024, compared to a 10.7% increase in 2023. This decline is attributed to factors such as the significant weather events throughout the year that disrupted quarrying and transportation operations, affecting supply. Additionally, some regions saw a decrease in demand due to overstocking by importers in the latter half of 2023. These combined factors led to a more challenging market environment, resulting in the observed contraction in production.
Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles sectors collectively contracted by 2.3% in 2024 compared to a 0.1% contraction in 2023. The subsector; Sale, Maintenance, and Repair of Motor Vehicles, decreased by 2.6% in 2024 compared to an increase of 3.9% in 2023. While, Wholesale Trade decreased by 2.3% in 2023, with a further decrease of 2.5% in 2024. Retail Trade decreased by 2.3% in 2023 compared to a 3.0% decrease in 2024. The decrease was driven by low demand from clothing stores, boutiques, electronic shops, furniture stores, and appliance retailers. Total imports of goods decreased by 2.2% in 2024.
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