St. Lucia Technical Assistance Report—Rebasing GDP Mission

IMF Staff Country Reports, May 18, 2020

Source details

A technical assistance mission was undertaken by the Real Sector Statistics Advisor in the Caribbean Regional Technical Assistance Centre to Saint Lucia to provide advice to the Central Statistics Office (CSO) on compiling rebased gross domestic product estimates.
The CSO is responding to the needs of the Ministry of Finance for more robust and timely national accounts statistics.

All the Gross domestic product by economic activity (GDP-P) compilation workbooks have now been redeveloped.
Revised current and constant 2018 price quarterly and annual estimates have been compiled up to Q3 2019.
The incorporation of revised data on tourist expenditure for 2000 onward have resulted in revisions to the GDP-P current price estimates and real growth rates.
The revised annual and quarterly GDP-P estimates were assessed and several methodological improvements were implemented.

Improvements were made to the constant price estimates by reviewing and replacing weaker volume indicators.
Training included:
- Use of more representative employment indicators.
- Use of various price indices discussed in the mission.
- Back-casting and linking techniques for the current price estimates.
- Linking the constant 2006 price series with the constant 2018 price series.

Training on the methodological changes and compiling the rebased estimates has been provided to the CSO staff.

Source: St. Lucia Technical Assistance Report—Rebasing GDP Mission, May 18, 2020, IMF Staff Country Reports.