Saint Lucia: Technical Assistance Report-Report on National Accounts Mission Expenditure-Based Gross Domestic Product (September 2–13, 2024)
Technical Assistance Reports, May 9, 2025
Source details
- Canonical URL
- Saint Lucia: Technical Assistance Report-Report on National Accounts Mission Expenditure-Based Gross Domestic Product (September 2–13, 2024)
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Bibliographic details
- Published: May 9, 2025
- Series: Technical Assistance Reports
- DOI: https://doi.org/10.5089/9798229008648.019
Mission objectives and scope
- Conducted in response to a request from Saint Lucia’s Central Statistics Office (CSO) from September 2–13, 2024.
- Aim: support development of experimental expenditure-based GDP (GDP-E) estimates as a complementary product to the existing production-based GDP (GDP-P) program.
- Specific objectives:
- Assess data sources and methods for all expenditure categories.
- Produce experimental GDP-E estimates.
- Identify data inconsistencies.
- Provide a roadmap toward publication.
Methodology and data sources
- Introduced a product flow approach for:
- Household Final Consumption Expenditure (HFCE).
- Gross Fixed Capital Formation (GFCF).
- Product flow approach components:
- Incorporated domestic production, international trade, and estimates of intermediate consumption.
- Direct estimates available for:
- International trade in goods and services.
- Government Final Consumption Expenditure (GFCE).
- Data and statistical inputs used to compile experimental GDP-E estimates for 2016–2023:
- Merchandise trade.
- Balance of Payments (BOP) statistics.
- Benchmark Supply and Use Tables (SUT).
- Domestic production statistics.
Main findings and analytical results
- Experimental GDP-E estimates covering 2016–2023 were compiled using the listed data sources.
- Early-year (pre-2018) results aligned well with the existing GDP-P series.
- The statistical discrepancy between GDP-E and GDP-P widened after 2018, with a notable divergence during COVID-19.
- These gaps point to potential data quality issues in source statistics and methods, particularly for the post-2018 period.
Key statistics and time references
- Mission dates: September 2–13, 2024.
- Experimental GDP-E coverage period: 2016–2023.
- Notable change point: widening statistical discrepancy after 2018, notably during COVID-19.
- Planned integration point: 2026 GDP rebasing exercise referenced for integration of GDP-E.
Policy recommendations and next steps
- Continue compilation of GDP-E to identify source data problems and better understand discrepancies.
- Integrate GDP-E compilation with the planned 2026 GDP rebasing exercise.
- Expand the SUT product dimension to improve HFCE and GFCF estimates.
Source: Saint Lucia: Technical Assistance Report-Report on National Accounts Mission Expenditure-Based Gross Domestic Product (September 2–13, 2024), May 9, 2025.
Content in this bundle
- IMF | CARTAC Technical Assistance Report – Saint Lucia Expenditure-Based Gross Domestic Product