Today, the Minister for the Cabinet Office, the Hon. Wayne Furbert, JP, MP, released the Quarter 1, 2021 Quarterly Gross Domestic Product (GDP) by Expenditure publication (attached).
Minister Furbert explained, “After adjusting for inflation, the GDP in constant prices for the first quarter of 2021 when compared to the 1st quarter of 2020 decreased by 4.3 % to $1,686.5 million. The decline in growth was influenced primarily by lower Final Consumption Expenditure and declines in Gross Capital Formation and the surplus External Balance of Goods and Services.”