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2018 Annual Economic and Financial Review
SAINT LUCIA
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97
Eastern Caribbean Central Bank
marginal increase (0.7 per cent) in the
previous year. The expansion in the sector’s
output was attributable to an estimated
16.9 per cent increase in the output of
miscellaneous
manufactured
articles,
supported by growth of 8.9 per cent in the
production of manufactured goods.
Concomitant with the increase in activity, the
sector’s contribution to overall GDP improved
marginally to 5.7 per cent from 5.4 per cent
in 2017.
Agricultural-related activity is tentatively
estimated to have recovered when compared
with last year’s outturn. Value added in the
agriculture, livestock and forestry sector grew
by 11.4 per cent, in contrast to a decline of
5.2 per cent recoded in 2017. The sector’s
contribution to GDP increased marginally to
2.3 per cent from 2.1 per cent in the prior
year. This outturn was largely associated with
growth in all the sub-sectors, with the
exception of fishing. Output of crops was up
by 11.8 per cent in contrast to a decline of
3.4 per cent in the previous year. Enhanced
activity in the banana industry, supported by a
general increase in acreage under cultivation
and active banana farmers, was a key
determinant in the performance of the crops
sub-sector. Supported by an increase in
demand from the United Kingdom market,
banana production grew by 5.8 per cent to
9,413 tonnes, following an increase of
25.5 per cent in 2017. Also contributing to
the sector’s overall outturn was an increase of
12.0 per cent in value added from the output
of livestock, recovering from a 17.7 per cent
decline in 2017.
Value added in the construction sector is
estimated to have declined by 17.0 per cent in
2018, in contrast to growth of 11.4 per cent
recorded
in
the
preceding
year.
Consequently, construction’s share of GDP
fell to 6.3 per cent from 7.6 per cent in 2017.
The adverse turn-around in construction
activity was partly reflective of declines in the
value of construction imports for the year and
commercial banks’ lending to the sector.
Implementation of planned construction
projects was sluggish in both private
investments and the public sector.
Notwithstanding the general slowdown, work
continued on a few tourism-related projects
and some infrastructural development in the
public sector.
Consistent with the fall-off in construction
activity, the mining and quarrying sector
recorded a decline of 5.8 per cent in 2018,
which contrasts growth of 14.6 per cent in the
prior year. Of the other major sectors, value
added in the wholesale and retail sector