Annual Economic and Financial Review -December 2018

______________________________________________________________________________

Eastern Caribbean Central Bank

A N G U I L L A

Overview

Economic activity in Anguilla is estimated

to have expanded by 1.9 per cent in 2018 in

contrast to a contraction of 7.

7 3

per cent in

2017.

The growth in economic output was

primarily attributable to expansions in major

sectors including construction and wholesale

and retail trade. However, the growth outturn

was tempered by contractions in hotels and

restaurants, fishing, electricity and water, and

financial intermediation. Consumer prices fell

by 0.4 per cent during 2018, on an end of

period basis, following an increase of

In keeping with international standards, the ECCB updated the terminology used to describe economic activity in the

ECCU. Accordingly, the Bank now reports real change in the economy using real Gross Domestic Product (GDP) at

market prices and not Gross Value Added (GVA) at basic prices as used in previous reports of the Annual Economic

and Financial Review (AEFR). However, GVA will remain applicable for output by sector

1.4 per cent during the previous year. The

fiscal operations of the central government

resulted in a smaller overall surplus, relative

to the one achieved in 2017. With respect to

debt, the disbursed outstanding public sector

obligations increased, largely on account of an

expansion in external debt. In the banking

system, net foreign assets, monetary liabilities

and liquidity increased while domestic credit

declined.

Economic activity is expected to be robust

in 2019 on the back of a buoyant tourism

sector, as all the major hotels and villas