The Statistics Division has recently conducted an updating exercise to the Gross Domestic Product (GDP-P) series to 2018 prices by economic activity with technical assistance from IMF’s Caribbean Regional Technical Assistance Center (CARTAC). These methodological updated estimates use the 2018 base year and adhere to 2008 SNA international standards, providing a more accurate and relevant picture of the economy. To accommodate such, the update considers both production and use of goods and services, offering a deeper understanding of economic activity update documentation and dissemination products.
The rebased 2018 long run time series 1977 to 2022 in the Antigua and Barbuda Business Registry workbook serves several purposes in estimating sales by industry classification for the Gross Domestic Product system. This worksheet builds a comprehensive record of sales data for each business and its corresponding industry classification code that allows for analysis of trends and patterns. The historical data, identifies growth sectors, declining industries, and potential economic fluctuation in current and constant basic market prices.
The interpolated values serve as the foundation for creating indexes of sales turnover at various industry levels as required by the gross domestic product estimation system. These indexes reflect the relative changes in sales over time within specific industry categories. They provide valuable insights into the performance of different economic sectors and acts as a core component for creating reliable indexes that contribute to Antigua and Barbuda's GDP-P estimation system
Please click link below for additional explanation of methodological changes:
GDP (2018) Rebasing Technical Note 2023
