Guam’s Economy Grows 0.5 Percent in 2012

Newly published estimates for Guam show that real gross domestic product (GDP)—GDP adjusted to remove price changes—increased 0.5 percent in 2012, after decreasing 0.6 percent in 2011.

For comparison, real GDP for the United States (excluding the territories) increased 2.8 percent in 2012 and 1.8 percent in 2011.

In 2012, the increase in real GDP reflected an improvement in the trade balance. Exports of services—primarily spending by tourists—contributed significantly to economic growth.

In 2011, the decline in real GDP reflected a decrease in private fixed investment and a deterioration in the trade balance. The decrease in private fixed investment reflected a drop in private construction activity.

Read the full report here.

Enter your email address to follow this blog and receive notifications of new posts by email.


%d bloggers like this: