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July 12, 2023
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Gross Domestic Product update: Industries up in secondary and tertiary sectors

Posted: Wednesday, July 12, 2023. 11:34 am CST.

By Aaron Humes: Increases of 12.5 percent in secondary industries and 16.7 percent in tertiary industries helped to counteract the slide in the primary sector, particularly in agriculture. 

The demand for beer, rum and soft drinks fueled greater growth in the secondary sector.

There was also wider demand for flavored milk and ice cream because of improvements to production as well as flour to match the local demand.

There were slight increases in electricity and water production, before the recent announcement of key installations being down for repairs. Overall value is down but updated figures will be released later this year.

Service industries rose 16.7 percent, fueled by a rise to 143 thousand overnight tourist arrivals and 318 thousand cruise ship arrivals, leading to greater accommodation revenues and other support services.

 

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