St Lucia’s Economy to Grow 3.5 Percent in 2012: Report

By: Caribbean Journal Staff - December 27, 2011

By the Caribbean Journal staff

Saint Lucian total GDP is projected to grow 3.5 percent in 2012, following an estimated 2.6 percent growth in 2011, according to a report from the United Nations’ Economic Commission for Latin America and the Caribbean.

In 2010, the economy grew at 3.2 percent, following a 1.1 percent drop in 2009.

The Eastern Caribbean Currency Union overall is projected to grow at 2 percent in 2012.

Total growth in the Caribbean region is projected at 1.7 percent next year, according to ECLAC’s data.

The countries in the Eastern Caribbean Currency Union grew by 1.5 percent in 2011, after two consecutive years of negative growth, driven primarily by brisker activity in the tourism sector.
The Eastern Caribbean is projected to grow 2 percent in 2012, with tourism activity having a positive spillover effect onto the rest of the area’s economy.

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