GDP for American Samoa, the Commonwealth of the Northern Mariana Islands, Guam, and the U.S. Virgin Islands: new statistics for 2008-2009 and revised statistics for 2002-2007.

Hamano, Aya

SINCE 2009, the Bureau of Economic Analysis (BEA) has been working on a project to produce estimates of gross domestic product (GDP) for American Samoa, the Commonwealth of the Northern Mariana Islands (CNMI), Guam, and the U.S. Virgin Islands. These estimates are developed collaboratively with the Department of the Interior's Office of Insular Affairs (OIA) and with staff from each of the territorial governments. (1) The OIA provides funding for this project and facilitates interactions between BEA and the territorial governments.

The purpose of this ongoing project is to provide data users with a comprehensive, objective measure of economic activity for these four U.S. territories. BEA produces estimates of U.S. GDP as part of its national income and product accounts (NIPAs); however, these estimates cover only the 50 states and the District of Columbia. Transactions with the territories are classified as transactions with the "rest-of-the-world." Before this work began, official estimates of GDP for these four territories did not exist. The absence of an unbiased, consistent measure of economic activity made it difficult for policymakers to assess the impacts of their decisions on growth and for businesses and governments to make informed economic and financial planning decisions.

GDP measures the value of final goods and services produced by an economy (in this case, the economies of the four territories) in a given period. The first official estimates of GDP for American Samoa, the CNMI, Guam, and the U.S. Virgin Islands were released by BEA in 2010. The estimates covered the period 2002 to 2007. (2)

This year, BEA released estimates of GDP for 2008 and 2009. (3) These estimates show that the economies of American Samoa, the CNMI, and the U.S. Virgin Islands contracted in both 2008 and 2009. Real GDP for the United States (excluding the territories) also contracted in both years. (4) In contrast, Guam's economy grew modestly during both years. Chart 1 shows the changes in real GDP for the four territories and for the United States.

* Other highlights of the estimates include the following: e Government spending played a large role in the economies of all four territories. In current dollars, government spending accounted for over 25 percent of GDP in 2009 in each of the four territories. In Guam, which has a large federal government presence, government spending was particularly notable, accounting for over 60 percent of GDP in 2009. The majority of this spending was by the federal government. In American Samoa, the CNMI, and the U.S. Virgin Islands, the majority of government spending was spending by the territorial government.

* The tourism industry played a significant role in the economies of the CNMI, Guam, and the U.S. Virgin Islands; spending by tourists accounted for the majority of exports of services. In 2009, the tourism industry--as measured by real spending by tourists--contracted in all three territories. In Guam, the tourism industry also contracted in 2008.5

* In 2008-2009, manufacturing continued to be a major industry in American Samoa and in the U.S.

Virgin Islands. In American Samoa, tuna canning was the primary manufacturing activity, and in the U.S. Virgin Islands, oil refining was the primary manufacturing activity. (6)

* In 2008, prices paid by consumers for goods and services rose significantly in each territory. The personal consumption expenditures (PCE) price index rose 7.2 percent in American Samoa, 6.3 percent in the CNMI, 5.5 percent in Guam, and 9.7 percent in the U.S. Virgin Islands. These increases were the largest for each of the territories for the period from 2002 to 2009 and reflected global increases in energy prices.

The estimates of GDP for 2008 and 2009 for each territory are presented in further detail in this article. The accompanying tables show estimates of GDP and its major components, including consumer spending, private fixed investment, private inventory investment, net exports of goods and services, and government spending. (7) Revised estimates for 2002-2007 are also shown; these estimates incorporated improved source data and methodologies. The methods used to derive the estimates of GDP and its components for all four territories are summarized in the appendix "Summary of Methodologies"

[GRAPHIC 1 OMITTED]

American Samoa

American Samoa's economy contracted in 2008 and in 2009. Real GDP decreased 4.7 percent in 2009 after decreasing 2.1 percent in 2008, primarily reflecting activities associated with the tuna canning industry (table 1). The larger decline in 2009 reflected the closure of one of the two canneries in the territory.

In 2008 and 2009, American Samoa's economy continued to be highly dependent on the tuna canning industry. Cannery exports accounted for the vast majority of total exports of goods and services. Imports associated with the canneries (including landed fish, tin plates, and petroleum products used in the tuna canning process) accounted for a large portion of total imports. Tin plates accounted for a significant portion of inventories held by private business.

In 2008, the largest contributor to the decrease in real GDP was private inventory investment, which declined. In 2009, the largest contributor to the decrease in real GDP was exports of goods, primarily of canned tuna, which declined sharply. The decline in exports of goods was partly offset by a decline in imports of cannery inputs. (8) Exports of goods fell over 20 percent and imports of goods fell 12 percent, reflecting the closure of the cannery.

Government spending contributed significantly to the economy in 2008-2009. In 2008, it was the only positive contributor to economic growth, partly offsetting a decline in private inventory investment. In 2009, an increase in government spending partly offset the large decline in exports of goods that was described above. Most of the growth in government spending in 2008-2009 was from the territorial government, which continued to be the largest single employer in the territory.

Improvements to the estimates for 2002-2007 include the following:

* An improved price measure for imports of landed fish that was based on market prices of albacore and skipjack tuna and the volume of each used in canned tuna production

* Improved price measures for imports and for inventory investment for tin plates that better reflect changes in market prices of tin-plated rolled steel

* Improved source data for government spending, including federal military compensation and territorial government construction spending The pattern of growth in the revised estimates is similar to that of the previously published estimates. In both the revised estimates and the previously published estimates, real GDP increased in all years except 2006, and the overall growth over the period was low.

For 2002-2007, the revised estimates of real GDP increased at an average annual rate of 0.1 percent; in the previously published estimates, real GDP increased 0.4 percent.

Commonwealth of the Northern Mariana Islands

Economic activity in the CNMI declined sharply in 2008 and in 2009. Real GDP decreased 19.8 percent in 2009 after decreasing 12.1 percent in 2008, reflecting decreases in exports and in consumer spending (table 2).

Exports of goods fell over 60 percent in 2008 and over 80 percent in 2009. The fall in both years reflected the continued decline of the CNMI's garment manufacturing industry. The last garment factory closed during the first quarter of 2009. Since 2005, exports of goods (primarily garments) has declined; the steepest declines were in 2008 and in 2009.

In 2009, the decrease in exports was also due to a significant decline in exports of services that reflected a decrease in the number of visitors to the islands.9 Despite this decline, tourism services were the territory's only significant export in 2009.

Decreases in real consumer spending in 2008 and 2009 also negatively impacted economic growth, most notably in 2009. In 2009, real consumer spending fell 12.8 percent after decreasing 0.9 percent in 2008.

Improvements to the estimates for 2002-2007 include the following:

* Revisions to the CNMI Consumer Price Index from the CNMI Department of Commerce that resulted in significant revisions to real consumer spending (10)

* Additional information on exports and imports from the Commonwealth Ports Authority, including greater detail and higher frequency data

* Updated territorial government spending that reflected more detailed information on government component units reported in audited annual financial statements

In both the revised estimates and the previously published estimates, real GDP decreased in all years except in 2003. The revised estimates show a steeper decline over the period than the previously published estimates. For 2002-2007, the revised estimates of real GDP declined at an average annual rate of 6.3 percent; in the previously published estimates, real GDP declined 4.2 percent.

Guam

Guam's economy grew in 2008 and in 2009. Real GDP increased 1.7 percent in 2009 after increasing 0.5 percent in 2008 (table 3). The largest contributor to the economic growth in both years was federal government spending, which increased. The majority of this spending was by the Department of Defense. Federal spending increased in 2008 and in 2009; the increases in both years largely reflected increases in construction spending and in compensation of employees.

The federal government has a larger presence in Guam than in the other three territories. In current dollars, federal government spending accounted for over 40 percent of Guam's GDP in 2009. In contrast, it accounted for less than 5 percent of GDP in American Samoa, the CNMI, and the U.S. Virgin Islands.

Economic growth was negatively affected by the continued weakening of the tourism industry. Tourism services make up the majority of Guam's exports of services. Real exports of services fell 9.0 percent in 2009 after falling 12.1 percent in 2008. These declines reflected decreases in the number of visitors to Guam. The tourism industry in Guam is highly dependent on visitors from Asia, particularly visitors from Japan and Korea. Together, these two markets accounted for almost 90 percent of total air arrivals in Guam in 2008 and 2009. (11)

Improvements to the estimates for 2002-2007 include the following:

* An improved methodology for measuring petroleum imports that incorporated information on liquid fuel tax revenue from Guam's Territorial Highway Fund

* Improved source data for estimating federal government spending, including military compensation

* Updated territorial government spending that reflected restated revenues and expenses as reported in audited annual financial statements

The overall growth in the revised estimates is similar to that of the previously published estimates. For 2002-2007, the revised estimates of real GDP increased at an average annual rate of 1.6 percent; in the previously published estimates, real GDP increased 1.8 percent. In both the revised estimates and the previously published estimates, real GDP growth peaked in 2004 and significantly contracted in 2006.

U.S. Virgin Islands

The economy of the U.S. Virgin Islands contracted in 2008 and in 2009. Real GDP decreased 5.6 percent in 2009 after decreasing 1.3 percent in 2008 (table 4). The decreases reflected changes in imports, inventory investment, and exports associated with the oil refining industry, in addition to declines in spending by tourists and by consumers.

Oil refining continued to be one of the primary industries in the U.S. Virgin Islands. (12) Petroleum products accounted for the majority of imports and exports of goods and of inventory investment. In 2008, the largest contributor to the decrease in real GDP was imports of goods, primarily of petroleum products, which increased. This was partly offset by an increase in inventory investment for petroleum products. In 2009, the decrease in real GDP was mainly due to a decrease in exports of goods, primarily of petroleum products.

Tourism is also among the most important industries in the territory and accounts for almost all of the U.S. Virgin Islands' exports of services. In 2009, spending by tourists fell 5.7 percent, subtracting 1.5 percentage points from the change in real GDP. The fall in spending by tourists reflected a significant decrease in the number of visitors.

Decreases in consumer spending also negatively affected economic growth, most notably in 2008. In 2008, consumer spending fell 9.3 percent, subtracting 4.9 percentage points from the change in real GDP. Prices paid by consumers for goods and services rose significantly, increasing almost 10 percent.

Improvements to the estimates for 2002-2007 include the following:

* Incorporation of newly available data on gross business receipts from the U.S. Virgin Islands Bureau of Internal Revenue that were used to estimate consumer spending on services (and some types of goods) for years in which economic census data are not available

* Improved source data for expenditures in the U.S. Virgin Islands by foreign residents and for expenditures on foreign travel by U.S. Virgin Islands residents

* Incorporation of newly available source data for government spending, including territorial government financial statements for fiscal year 2008 and data for federal military compensation The pattern of growth in the revised estimates is similar to that of the previously published estimates. In both the revised estimates and the previously published estimates, real GDP increased in all years except 2003. The average annual growth rate of real GDP was unrevised. For 2002-2007, the revised estimates of real GDP increased at an average annual rate of 2.9 percent; in the previously published estimates, real GDP also increased 2.9 percent.

Future Directions

This project represents an important step toward achieving BEA and OIA's long-term goal: to integrate these territories not only into the estimates of national GDP but also into the full set of NIPAs. A primary obstacle to realizing this goal is the lack of coverage of these four territories by most of the major surveys used by BEA to produce its estimates of GDP and related economic measures. (13) Until the territories are included in these surveys, BEA will continue to depend heavily on the assistance and information provided by each of the territorial governments.

Over the coming months, BEA will continue to work closely with the territorial governments to update the estimates of GDP for the four territories. Estimates for 2010, in addition to revised estimates for 2002-2009, are scheduled to be released in the spring of 2012.

It is important to note that GDP is only one summary measure of economic activity. Future enhancements to the estimates for the four territories (subject to data availability and funding) include developing supplementary measures included in the full set of the NIPAs, such as personal income and personal saving rates.

Appendix: Summary of Methodologies

Gross domestic product (GDP) is measured as the sum of consumer spending (or "personal consumption expenditures"), private investment, net exports (exports less imports) of goods and services, and government spending (or "government consumption expenditures and gross investment"). The methodologies used to estimate the major components of GDP for American Samoa, the Commonwealth of the Northern Mariana Islands (CNMI), Guam, and the U.S. Virgin Islands are summarized in this appendix. These methods are consistent with the methods used to estimate U.S. GDP. Information from the Economic Census of Island Areas was used to establish levels of GDP for each territory for 2002 and 2007. For other years, annual series were developed and used to estimate GDE

Consumer spending. Personal consumption expenditures (PCE) consists primarily of purchases of goods and services by households. (14) For American Samoa, the CNMI, and Guam, economic census data on the consumer shares of sales for each industry sector were used to benchmark the estimates of household purchases of most goods. For the CNMI and Guam, annual growth rates for most goods and services were derived using gross business revenue data; for American Samoa, annual growth rates for most goods were derived using data on imports of goods. Annual estimates of goods for the U.S. Virgin Islands were mostly based on imports data from the Census Bureau's U.S. Trade With Puerto Rico and U.S. Possessions (series FT895) and U.S. International Trade in Goods and Services (series FT900). (15)

Economic census data on the consumer shares of sales for each industry sector were used for all four territories to benchmark the estimates of most services except housing and utilities. Annual growth rates were derived primarily using wage data for American Samoa and gross business revenue data for the CNMI, Guam, and the U.S. Virgin Islands. Housing services and utilities services were estimated independently. Housing services were estimated using information on the number of occupied housing units and average rental rates reported in the Census of Population and Housing. Utilities services were estimated using revenue data reported by government-owned utilities and by the U.S. Energy Information Administration. Other services not covered by the economic census--such as financial services furnished without payment, insurance, and sales by government--were also estimated independently.

Private investment. Private investment consists of spending on new fixed assets--equipment, software and structures by private businesses, and improvements to existing assets. It also includes the construction of new residential structures and the improvements to these structures. (16) Because of data limitations, estimates of private investment in equipment and software and in structures were indirectly measured. Investment in equipment and software was estimated based on the value of imports of capital goods or on economic census data on the business share of sales of the wholesale durable goods sector. (17) Investment in structures was estimated using building permit data and construction industry receipts less sales to other construction firms and less sales to government as reported in the economic census. (18)

Net exports of goods and services. The estimates of exports of goods to the United States from the four territories reflected data from the Census Bureau's FT895 publication. Estimates of exports of goods from American Samoa, the CNMI, and Guam to the rest of the world were based on information compiled by the territorial governments. Estimates of exports of goods from the U.S. Virgin Islands to the rest of the world were based on data from the Census Bureau's FTg00 publication. Estimates of imports of goods for American Samoa, the CNMI, and Guam were based on values or quantities of imported commodities reported by the territorial governments. For the U.S. Virgin Islands, estimates of imports of goods reflected data from the series FT895 and FT900 publications.

Information on imports of services and on exports of services other than tourism was limited. Estimates of exports of tourism services for the CNMI and Guam were based on survey data on tourist expenditures and visitor arrivals provided by the territorial government visitors' authorities. For the U.S. Virgin Islands, the estimate of exports of tourism services was based on expenditures of cruise ship passengers available from the Florida-Caribbean Cruise Association and total visitor expenditures provided by the Virgin Islands Bureau of Economic Research. (19)

Government consumption expenditures and gross investment. The estimates of government expenditures were prepared separately for the territorial governments and for the federal government sector. The primary sources of information for the territorial government estimates were financial statements of the primary government and of the government component units. The primary data sources for the federal government estimates were the Census Bureau's Consolidated Federal Funds Report and the Federal Procurement Data System.

Estimates of real GDP. Inflation-adjusted estimates of total GDP and its components were derived within a chain-type Fisher Index framework. For most of the detailed components of GDP, inflation-adjusted estimates were calculated by deflating each component using an appropriate price index. Consumer price indexes produced by each territorial government were used to deflate most of the detailed components of PCE. Inflation-adjusted estimates for most components other than PCE were calculated using U.S. prices from the U.S. Bureau of Labor Statistics.

Acknowledgments

Aya Hamano of the Bureau of Economic Analysis (BEA) and Wali Osman of the Office of Insular Affairs (OIA) oversaw the preparation of the estimates of gross domestic product for American Samoa, the Commonwealth of the Northern Mariana Islands (CNMI), Guam, and the U.S. Virgin Islands.

From BEA, Clinton P. McCully prepared the estimates of GDP for American Samoa, Nicole M. Mayerhauser prepared the estimates of GDP for the CNMI and for Guam, and Carol E. Moylan prepared the estimates of GDP for the U.S. Virgin Islands. Brian C. Moyer, Deputy Director, and Brent R. Moulton, Associate Director for National Economic Accounts, provided overall supervision.

Other significant contributors from BEA were Matthew M. Donahoe, Michelle Grier, Rebecca S. Hammer, Alyssa E. Holdren, Christina D. Hovland, Lisa Lynn, William H. Nicolls IV, Andrew J. Pinard, Bonnie A. Retus, Marlyn Rodriguez, Karl V. Rohrer, Nadia E Sadie, and Andrew G. Schmidt.

From the U.S. Census Bureau, Marc Rubin provided valuable research and comments. The Company Statistics Division provided data from the Economic Census of Island Areas.

From the U.S. Department of the Interior, Tony Babauta, Assistant Secretary for Insular Affairs, and Nikolao Pula, Director of OIA, provided support throughout the project. Lydia Faleafine-Nomura, Basil Ottley, and R. Jeffrey Schorr of OIA served as liaisons between BEA and the territorial governments.

BEA would also like to thank the governor's offices of the four territories for their contributions. Governor Togiola T.A. Tulafono and Lieutenant Governor Faoa A. Sunia of American Samoa, Governor Benigno Fitial and Lieutenant Governor Eloy Inos of the CNMI, Governor Eddie B. Calvo and Lieutenant Governor Ray S. Tenorio of Guam, and Governor John P. de Jongh and Lieutenant Governor Gregory R. Francis of the U.S. Virgin Islands contributed guidance and support throughout the project.

Other key contributors from each territory are listed below.

American Samoa: Faleseu Eliu Paopao, Director, Department of Commerce (DOC); Lelei Peau, Deputy Director, DOC; Mine Timoteo, Acting Chief Statistician, DOC; Alex Zodiacal, Manager, DOC; Ma'u A-Leha, Economic Planner Practitioner, DOC; Magalei Logovi'i, Treasurer, Department of Treasury (DOT); Melvin

Joseph, Manager, Tax Office, DOT; Glen Lefiti, Chief Customs Officer, DOT; Malemo Tausaga, Director, Budget Office; Aleki Sene, CEO, American Samoa Telecommunications Authority; Andra Samoa, CEO, American Samoa Power Authority; Michael Gerstenberger, CEO, LBJ Medical Center; Seth Galea'i, Dean, American Samoa Community College; Sione Kava, Petroleum Officer, Office of Petroleum Management; Brett Butler, General Manager, Star Kist Samoa.

Commonwealth of the Northern Mariana Islands: Six'to Igisomar, Acting Secretary, Department of Commerce; Ivan A. Blanco, Director, Central Statistics Division (CSD); Justin H. Andrew, Computer Specialist, CSD; Edward Deleon Guerrero, Executive Director, Commonwealth Ports Authority (CPA); MaryAnn Q. Lizama, Manager of the Port of Saipan, CPA; Derek T. Sasamoto, Comptroller, CPA; Perry J. P. Tenorio, Director, Marianas Visitors Authority (MVA); Judy C. Torres, Deputy Director, MVA; Larissa Larson, Secretary, Department of Finance (DOF); Pam Halstead, Business License Analyst, DOF; Canice Diaz, Revenue Agent, DOF; Marie T. Muna, Computer Programmer, DOF; Vivian P. Nogis, Statistics Specialist, DOE Guam: Franklin P. Arriola, Chief of Staff, Office of the Governor; Henry Taitano, Special Assistant for Social and Economic Affairs, Office of the Governor; Thomas A. Morrison, Director, Bureau of Statistics and Plans (BSP); Albert Perez, Chief Economist, BSP; Benita A. Manglona, Director, Department of Administration (DOA); Ken Borja, Management Analyst, DOA; Leah Beth Naholowaa, Director, Department of Labor (DOL); Gary Hiles, Chief Economist, DOL; John Camacho, Director, Department of Revenue and Taxation (DRT); Marie Benito, Deputy Director, DRT; Jennifer Untalan, Revenue Agent, DRT; Doris F. Brooks, Public Auditor, Office of the Public Auditor; Joann G. Camacho, General Manager, Guam Visitors Bureau (GVB); Deborah M. Phillips, Research Manager, GVB; John Pangelinan, Budget and Management Analyst Supervisor, Bureau of Budget and Management Research.

U.S. Virgin Islands: Donnie Dorsett, Acting Director, Virgin Islands Bureau of Economic Research (VIBER); Lauritz Mills, Former Director, VIBER; Claudette Watson-Anderson, Director, Virgin Islands Bureau of Internal Revenue; Sandra Rey, Senior Research Analyst, Virgin Islands Department of Labor; Virgin Islands Office of Management and Budget; Virgin Islands Department of Finance.

(1.) OIA is the federal agency that manages the federal government's relations with the governments of American Samoa, the CNMI, Guam, and the U.S. Virgin Islands. It works with these territories to encourage economic development, transparency of government, financial stability, and accountability.

(2.) See Aya Hamano, Nicole M. Mayerhauser, Clinton E McCully, Carol E. Moylan, and Marc Rubin, "GDP for American Samoa, the Commonwealth of the Northern Mariana Islands, Guam, and the U.S. Virgin Islands," SURVEY OF CURRENT BUSINESS 90 (September 2010): 34-41.

(3.) BEA released these estimates during separate visits to the four territories that took place between May and July of 2011. Individual news releases for each of the territories are available on BEA's Web site at www.bea.gov/ national/gdp_territory.ht m.

(4.) Before the release of the 2011 NIPA annual revision, the BEA estimates showed real GDP for the United States decreasing in 2009 after remaining unchanged in 2008.

(5.) The travel and tourism industry in the United States--as measured by the real output of goods and services sold directly to visitors--also contracted in 2008 and 2009. See Steven L. Zemanek, "U.S. Travel and Tourism Satellite Accounts for 2007-2010," SURVEY 91 ( June 2011 ): 29-42.

(6.) Previously, in the CNMI economy, garment manufacturing was a major industry. However, this industry declined rapidly from 2005-2009.

(7.) Private inventory investment for the CNMI and Guam is assumed to be negligible, so it is not shown in the tables. "Consumer spending" refers to "personal consumption expenditures;' "inventory investment" refers to "change in private inventories;' and "government spending" refers to "government consumption expenditures and gross investment."

(8.) Imports are a subtraction in the calculation of GDP.

(9.) Tourism services make up the majority of exports of services for the CNMI.

(10.) The CNMI Consumer Price Index was used to adjust the components of consumer spending for price change.

(11.) See Guam Visitors Bureau, FY 2008 Guam Visitor Arrivals, FY 2009 Guam Visitor Arrivals, and FY 2010 Guam Visitor Arrivals.

(12.) The Hovensa oil refinery, located on St. Croix, is one of the world's largest oil refineries.

(13.) These surveys include merchant wholesale trade and retail trade surveys; the annual capital expenditures survey; value of construction put in place; the service annual survey; the annual survey of manufactures; manufacturers' shipments, inventories, and orders; and government finances. The Census Bureau's County Business Patterns (CBP) program was recently expanded to include the U.S. territories. The CBP provides data by industry on employment during the week of March 12, first quarter and annual payroll, and number of establishments.

(14.) A small portion of PCE consists of purchases by nonprofit institutions serving households.

(15.) It was assumed for both American Samoa and the U.S. Virgin Islands that most consumer purchases of goods were imported.

(16.) For American Samoa and the U.S. Virgin Islands, private investment also includes private inventory investment (or "change in private inventories").

(17.) For Guam, after discussion with officials in the Guam Bureau of Statistics and Plans, it was assumed that a majority of the goods purchased by durable goods wholesalers for resale were imported.

(18.) The method assumed that the receipts by construction industry reported in the economic census were collected for work done in the same year.

(19.) Exports of tourism services were a small component of American Samoa's economy and are not discussed.

Table 1. Highlights of GDP Growth, American Samoa

Percent Change From Preceding Year in Real GDP

                                 2003     2004    2005    2006

Gross domestic
  product (GDP)                    0.6      0.5     0.7    -0.1
Personal consumption
  expenditures                     2.5      4.9    -0.4    -0.6
Private fixed investment           0.7     32.0    14.1     0.0
Change in private inventories
Net exports of goods and
    services
  Exports                         -2.2    -16.0     4.6    -0.6
    Goods                         -2.3    -16.7     5.4    -0.8
    Services                      -0.6     -2.7    -8.6    -3.2
  Imports                          3.9    -15.6    -1.4    -4.7
    Goods                          3.3    -16.5     0.0    -5.4
    Services                       8.2     -0.7   -11.2     1.7
Government consumption
  expenditures and gross
    investment                     2.5     -4.3    -3.2    -4.4
  Federal                         85.1     22.7   -14.2   -26.0
  Territorial                     -1.3     -0.7    -1.8    -2.0
Addendum:
Previously published GDP           1.5      0.7     2.1    -2.9

                                 2007     2008     2009

Gross domestic
  product (GDP)                    1.7     -2.1     -4.7
Personal consumption
  expenditures                    -1.0     -0.4     -0.3
Private fixed investment           3.3     -0.3    -14.4
Change in private inventories
Net exports of goods and
    services
  Exports                          1.2     -0.8    -21.1
    Goods                          1.8     -0.6    -22.2
    Services                     -10.2     -4.5      5.3
  Imports                         -3.7      0.5    -11.5
    Goods                         -3.7      0.2    -12.0
    Services                      -4.0      3.0     -6.4
Government consumption
  expenditures and gross
    investment                    -4.3      7.3      7.6
  Federal                        -13.1     17.1     36.2
  Territorial                     -3.6      6.5      5.1
Addendum:
Previously published GDP           0.5

Percent Change From Preceding Year in Price Indexes

                                 2003     2004    2005    2006

    Gross domestic product         1.6     -3.2     0.3     2.5
Personal consumption
  expenditures                     3.8      2.6     3.6     2.5

                                 2007     2008     2009

    Gross domestic product         3.3      8.0     21.8
Personal consumption
  expenditures                     2.7      7.2      0.1

Real GDP

[Millions of chained (2005) dollars]

                                 2002     2003    2004    2005

    Gross domestic product         539      542     545     548
Personal consumption
  expenditures                     341      350     367     365
Private fixed investment            14       14      18      21
Change in private inventories        6       31      13       0
Net exports of goods and
    services                       -91     -130    -112     -81
  Exports                          590      577     485     507
    Goods                          560      547     456     480
    Services                        31       30      30      27
  Imports                          681      707     597     589
    Goods                          608      629     525     525
    Services                        73       79      72      64
Government consumption
    expenditures and gross
    investment                     263      270     258     250
  Federal                           13       23      29      24
  Territorial                      249      246     229     225
Addenda:
  Population (thousands) (1)      60.8     62.6    64.1    65.5
  Per capita real GDP
    (chained dollars)            8,865    8,658   8,502   8,366

                                 2006     2007     2008    2009

    Gross domestic product         531      540      529     504
Personal consumption
  expenditures                     363      359      358     357
Private fixed investment            20       20       20      17
Change in private inventories        0       -7      -23     -10
Net exports of goods and
    services                       -88       -1       -8    -106
  Exports                          474      479      475     375
    Goods                          448      456      453     352
    Services                        26       23       22      24
  Imports                          561      541      543     481
    Goods                          496      478      479     421
    Services                        65       63       64      60
Government consumption
    expenditures and gross
    investment                     239      228      245     264
  Federal                           18       16       18      25
  Territorial                     2211      213      227     238
Addenda:
  Population (thousands) (1)      66.9     68.2     69.2    70.1
  Per capita real GDP
    (chained dollars)            7,937    7,918    7,645   7,190

(1) Source: 2009 American Samoa Statistical Yearbook

GDP

[Millions of dollars]

                                 2002     2003    2004    2005

    Gross domestic product         546      558     543     548
Personal consumption
  expenditures                     309      329     354     365
Private fixed investment            12       12      17      21
Change in private inventories        5       28      13       0
Net exports of goods and
    services                       -18        0     -91     -81
  Exports                          527      522     470     507
    Goods                          503      495     442     480
    Services                        25       27      28      27
  Imports                          545      582     560     589
    Goods                          487      513     493     525
    Services                        58       69      68      64
Government consumption
    expenditures and gross
    investment                     238      249     250     250
  Federal                           10       20      26      24
  Territorial                      227      229     224     225

GDP

[Millions of dollars]

                                 2006     2007     2008    2009

    Gross domestic product         545      572      605     703
Personal consumption
  expenditures                     372      379      404     403
Private fixed investment            20       21       20      17
Change in private inventories        0       -8      -35     -10
Net exports of goods and
    services                       -95       -5      -53      -1
  Exports                          504      512      647     536
    Goods                          477      488      621     510
    Services                        26       24       25      27
  Imports                          598      577      700     537
    Goods                          532      515      630     476
    Services                        66       62       70      61
Government consumption
    expenditures and gross
    investment                     250      245      269     293
  Federal                           19       18       21      29
  Territorial                      231      228      247     264

NOTE. Detail may not add to total because of rounding

Contributions to Percent Change in Real GDP

                                 2003     2004    2005    2006

Percent change:
    Gross domestic product         0.6      0.5     0.7    -3.1
Percentage points:
Personal consumption
  expenditures                    1.42     2.99   -0.25   -0.42
Private fixed investment          0.02     0.74    0.46   -0.23
Change in private inventories     4.03    -3.25   -3.56    0.73
Net exports of goods and
    services                      0.00     2.07    5.47   -1.15
  Exports                        -2.13   -15.80    4.04   -0.25
    Goods                        -2.10   -15.66    4.49   -6.10
    Services                     -0.03    -0.14   -0.46   -0.16
  Imports                        -3.87    17.86    1.44    5.11
    Goods                        -2.95    16.72    0.00    5.30
    Services                     -0.91     1.14    1.43   -0.19
Government consumption
    expenditures and gross
    investment                    1.10    -2.03   -1.48   -2.03
  Federal                         1.64     0.87   -0.72   -1.18
  Territorial                    -0.54    -2.89   -0.76   -0.85

                                 2007     2008     2009

Percent change:
    Gross domestic product         1.7     -2.1     -0.7
Percentage points:
Personal consumption
  expenditures                   -0.69    -0.27    -0.13
Private fixed investment          0.12    -0.01    -0.43
Change in private inventories    -0.84    -3.52     2.42
Net exports of goods and
    services                      5.08    -1.30    -9.62
  Exports                         1.07    -0.79   -20.84
    Goods                         1.57    -0.60   -21.04
    Services                     -0.49    -0.19     0.20
  Imports                         4.01    -0.50    11.22
    Goods                         3.54    -0.17    10.58
    Services                      0.47    -0.33     0.65
Government consumption
    expenditures and gross
    investment                   -1.97     3.03     3.05
  Federal                        -0.47     0.51     1.14
  Territorial                    -1.50     2.52     1.91

Table 2. Highlights of GDP Growth, CNMI

Percent Change From Preceding Year in Real GDP

                                  2003     2004     2005     2006

    Gross domestic
      product (GDP)                 1.2     -3.6    -14.3     -6.5
Personal consumption
  expenditures                      4.4     -3.7    -12.0      4.5
Private fixed investment           -0.2     70.4     -5.5    -15.7
Net exports of goods and
    services
  Exports                          -4.3      8.8    -19.5    -20.4
    Goods                          -4.8      3.7    -20.6    -23.2
    Services                       -2.6     27.8    -16.3    -12.6
  Imports                          -4.0     14.2    -14.2    -12.8
    Goods                          -4.7     13.4   -14.71    -12.5
    Services                        0.1     19.0    -10.9    -15.2
Government consumption
  expenditures and gross
    investment                      1.5     -0.8     -2.9     -1.4
  Federal                          10.0    -23.2     17.1    -18.3
  Territorial                       1.1     -3.9     -3.6     -0.6
Addendum:
Previously published GDP            2.2     -1.4    -11.0

                                  2007     2008     2009

    Gross domestic
      product (GDP)                -7.7    -12.1    -19.8
Personal consumption
  expenditures                     -3.5     -0.9    -12.8
Private fixed investment          -31.7      9.4      2.5
Net exports of goods and
    services
  Exports                         -28.8     43.0    -40.1
    Goods                         -35.8    -64.8    -83.4
    Services                      -12.2      2.4    -10.6
  Imports                         -26.0    -27.6    -13.2
    Goods                         -25.8    -28.5    -11.6
    Services                      -27.2    -22.4    -22.2
Government consumption
  expenditures and gross
    investment                     -9.0     -6.1     -3.2
  Federal                         -12A      20.2     29.5
  Territorial                      -8.9     -7.1     -4.8
Addendum:
Previously published GDP           -3.8

Percent Change From Preceding Year in Price Indexes

                                  2003     2004     2005     2006

    Gross domestic product         -0.5   0.8 -0.1            -0.5
Personal consumption
  expenditures                     -3.4   4.6 4.3              6.2

                                  2007     2008     2009

    Gross domestic product          2.3     11.6      5.3
Personal consumption
  expenditures                      3.8      6.3      1.1

Real GDP

[Millions of chained (2005) dollars]

                                  2002     2003     2004     2005

    Gross domestic product        1,175    1,189    1,146      982
Personal consumption
  expenditures                      567      592      570      502
Private fixed investment             25       25       43       41
Net exports of goods and
    services                        188      177      146       66
  Exports                         1,086    1,039    1,131      910
    Goods                           853      812      842      668
    Services                        232      226      289      242
  Imports                           898      862      984      845
    Goods                           789      752      854      728
    Services                        110      110      131      117
Government consumption
  expenditures and gross
    investment                      398      404      385      374
  Federal                            17       18       14       17
  Territorial                       381      386      371      357
Addenda:
  Population (thousands) (1)       74.4     76.6     78.9     70.6
  Per capita real GDP
    (chained dollars)            15,793   15,522   14,525   13,909

                                  2006     2007     2008     2009

    Gross domestic product          919      848      746      598
Personal consumption
  expenditures                      525      506      502      438
Private fixed investment             34       23       26       26
Net exports of goods and
    services                        -11      -29     -100     -166
  Exports                           725      516      294      176
    Goods                           513      330      116       19
    Services                        212      186      190      170
  Imports                           736      545      394      342
    Goods                           637      473      338      299
    Services                         99       72       56       43
Government consumption
  expenditures and gross
    investment                      368      335      315      305
  Federal                            14       12       14       19
  Territorial                       355      324      301      286
Addenda:
  Population (thousands) (1)       60.7     58.6     55.2     51.5
  Per capita real GDP
    (chained dollars)            15,140   14,471   13,514   11,612

(1) Source: US Census Bureau, International Database

GDP

[Millions of dollars]

                                  2002     2003     2004     2005

    Gross domestic product        1,222    1,181    1,148      982
Personal consumption
  expenditures                      538      543      547      502
Private fixed investment             24       24       42       41
Net exports of goods and
    services                        293      255      190       66
  Exports                         1,077    1,030    1,128      910
    Goods                           848      810      642      668
    Services                        229      220      286      242
  Imports                           784      775      938      845
    Goods                           675      667      808      728
    Services                        109      108      130      117
Government consumption
  expenditures and gross
    investment                      367      358      369      374
  Federal                            14       16       13       17
  Territorial                       353      342      355      357

                                  2006     2007     2008     2009

    Gross domestic product        914I       863      847      716
Personal consumption
  expenditures                      557      558      588      518
Private fixed investment             35       24       27       27
Net exports of goods and
    services                        -42      -72     -111     -169
  Exports                           729      526      376      219
    Goods                           514      333      172       23
    Services                        215      192      205      196
  Imports                           771      597      488      387
    Goods                           665      514      419      332
    Services                        106       83       69       56
Government consumption
  expenditures and gross
    investment                      364      353      344      339
  Federal                            14       13       16       21
  Territorial                       350      339      327      317

NOTE. Detail may not add to total because of rounding

Contributions to Percent Change in Real GDP

                                  2003     2004     2005     2006
Percent change:
    Gross domestic product          1.2     -3.6    -14.3     -6.5
Percentage points:
Personal consumption
  expenditures                     1.95    -1.72    -5.83     2.35
Private fixed investment           0.00     1.45    -0.20    -0.66
Net exports of goods and
    services                      -1.21    -1.84    -7.33    -7.62
  Exports                         -3.91     7.70   -19.19   -18.96
    Goods                         -3.42     2.50   -15.11   -15.81
    Services                      -0.50     5.20    -4.08    -3.14
  Imports                          2.70    -9.54    11.86    11.33
    Goods                          2.71    -7.81    10.61     9.45
    Services                      -0.01    -1.73     1.24     1.88
Government consumption
  expenditures and grass
    investment                     0.45    -1.50    -0.94    -0.54
  Federal                          0.12    -0.33    0.20     -0.32
  Territorial                      0.32    -1.17    -1.14    -0.22

                                  2007     2008     2009
Percent change:
    Gross domestic product         -7.7    -12.1    -19.8
Percentage points:
Personal consumption
  expenditures                    -2.15    -0.54    -8.89
Private fixed investment          -1.21     0.25     0.08
Net exports of goods and
    services                      -0.67    -9.42    -9.65
  Exports                        -22.86   -28.13   -16.87
    Goods                        -19.99   -28.64   -14.23
    Services                      -2.87     0.51    -2.64
  Imports                         22.20    18.71     7.22
    Goods                         18.95    16.64     5.39
    Services                       3.25     2.07     1.83
Government consumption
  expenditures and grass
    investment                    -3.65    -2.34    -1.30
  Federal                         -0.19     0.29     0.56
  Territorial                     -3.46    -2.63    -1.87

Table 3. Highlights of GDP Growth, Guam

Percent Change From Preceding Year in Real GDP

                                      2003     2004     2005     2006

    Gross domestic product (GDP)       0.7      7.3      3.2     -3.8
Personal consumption expenditures     -8.2      7.2      5.6     -1.2
Private fixed investment              19.0    -13.1    -10.2      7.2
Net exports of goods and services
  Exports                            -13.2     24.1      4.4     -8.5
    Goods                             -3.7     -6.4     -9.0      6.7
    Services                         -14.4     28.5      5.8     -9.9
  Imports                             -9.5      3.9      4.1      1.9
    Goads                            -10.6      3.6      3.5      3.0
    Services                           2.0      6.1      9.9     -7.3
Government consumption
  expenditures and gross               7.7      1.6      1.7     -1.1
    investment
  Federal                             13.3      3.5      0.4     -3.2
  Territorial                         -0.6     -1.7      3.9      2.5
Addendum:
Previously published GDP              -0.2      8.1      4.2     -3.4

                                      2007     2008     2009

    Gross domestic product (GDP)       0.8      0.5      1.7
Personal consumption expenditures      1.8      0.0     -1.5
Private fixed investment              29.0     14.1     -4.1
Net exports of goods and services
  Exports                             -3.8     -9.9    -10.9
    Goods                             34.8      3.2    -21.0
    Services                          -7.9    -12.1     -9.0
  Imports                              8.3     -1.6     -1.4
    Goads                              6.9     -2.3     -0.6
    Services                          20.9      4.6     -7.9
Government consumption
  expenditures and gross               5.6      1.6      7.1
    investment
  Federal                              7.5      4.3      9.3
  Territorial                          2.5     -3.1      3.0
Addendum:
Previously published GDP               0.7

Percent Change From Preceding Year in Price Indexes

                                      2003     2004     2005     2006

Gross domestic product                 2.9      0.8      4.4      4.0
Personal consumption expenditures      1.2     1.0       3.7      4.1

                                      2007     2008     2009

Gross domestic product                 2.6      2.2      3.7
Personal consumption expenditures      2.8      5.5      1.1

Real GDP
[Millions of chained (2005) dollars]

                                      2002     2003     2004     2005

    Gross domestic product           3,589    3,615    3,879    4,003
Personal consumption expenditures    2,490    2,286    2,450    2,588
Private fixed investment               156      185      161      145
Net exports of goods and services   -1,041     -970     -874     -908
  Exports                              763      662      822      858
    Goods                               86       82       77       70
    Services                           677      580      745      788
  Imports                            1,804    1,632    1,696    1,766
    Goods                            1,648    1,472    1,526    1,579
    Services                           157      160      170      187
Government consumption
  expenditures and gross             1,959    2,110    2,143    2,179
    investment
  Federal                            1,175    1,332    1,379    1,385
  Territorial                          782      777      764      794
Addenda:
  Population (thousands)'            161.1    163.6    166.1    168.6
  Per capita real GDP               22,278   22,097   23,353   23,743
    (chained dollars)

                                      2006     2007     2008     2009

    Gross domestic product           3,850    3,879    3,899    3,966
Personal consumption expenditures    2,557    2,603    2,602    2,563
Private fixed investment               155      200      228      219
Net exports of goods and services   -1,016   -1,194   -1,237   -1,285
  Exports                              785      755      680      606
    Goods                               75      101      104       82
    Services                           710      654      575      523
  Imports                            1,800    1,949    1,918    1,891
    Goods                            1,627    1,740    1,699    1,690
    Services                           173      209      219      202
Government consumption
  expenditures and gross             2,154    2,275    2,310    2,474
    investment
  Federal                            1,341    1,442    1,503    1,643
  Territorial                          813      833      808      831
Addenda:
  Population (thousands)'            171.0    173.5    175.9    177.9
  Per capita real GDP               22,515   22,357   22,166   22,293
    (chained dollars)

(1.) Source: 2008 Guam Statistical Yearbook,
US Census Bureau, International Database

GDP
[Millions of dollars]

                                      2002     2003     2004     2005

    Gross domestic product           3,314    3,435    3,717    4,003
Personal consumption expenditures    2,348    2,182    2,362    2,588
Private fixed investment               137      166      152      145
Net exports of goods and services     -854     -824     -812     -908
  Exports                              635      574      759      858
    Goods                               74       73       71       70
    Services                           561      501      688      788
  Imports                            1,489    1,398    1,572    1,766
    Goods                            1,357    1,257    1,413    1,579
    Services                           132      141      158      187
Government consumption
  expenditures and gross             1,684    1,911    2,016    2,179
    investment
  Federal                            1,002    1,199    1,295    1,385
  Territorial                          682      712      721      794

                                      2006     2007     2008     2009

    Gross domestic product           4,004    4,141    4,255    4,491
Personal consumption expenditures    2,662    2,784    2,936    2,924
Private fixed investment               164      217      252      237
Net exports of goods and services   -1,081   -1,351   -1,544   -1,486
  Exports                              838      829      803      720
    Goods                               80      115      133       98
    Services                           759      714      670      622
  Imports                            1,919    2,180    2,347    2,206
    Goods                            1,733    1,949    2,091    1,965
    Services                           186      231      256      241
Government consumption
  expenditures and gross             2,259    2,490    2,612    2,816
    investment
  Federal                            1,410    1,580    1,698    1,856
  Territorial                          849      911      914      960

NOTE Detail may not add to total because of rounding

Contributions to Percent Change in Real GDP

                                      2003     2004     2005     2006
Percent change:
    Gross domestic product             0.7      7.3      3.2     -3.8
Percentage points:
Personal consumption expenditures    -5.77     4.57     3.57    -0.77
Private fixed investment              0.78    -0.64    -0.42     0.26
Net exports of goods and services     1.75     2.49    -0.86    -2.72
  Exports                            -2.54     4.13     0.91    -1.85
    Goods                            -0.08    -0.14    -0.18     0.12
    Services                         -2.46     4.27     1.09    -1.97
  Imports                             4.29    -1.64    -1.78    -0.86
    Goods                             4.37    -1.38    -1.35    -1.21
    Services                         -0.08    -0.26    -0.43     0.35
Government consumption
  expenditures and gross              3.95     0.89     0.91    -0.61
    investment
  Federal                             4.08     1.25     0.15    -1.10
  Territorial                        -0.13    -0.36     0.76     0.49

                                      2007     2008     2009
Percent change:
    Gross domestic product             0.8      0.5      1.7
Percentage points:
Personal consumption expenditures     1.19    -0.02    -1.01
Private fixed investment              1.19     0.74    -0.23
Net exports of goods and services    -4.80    -1.15    -1.29
  Exports                            -0.79    -2.03    -2.03
    Goods                             0.71     0.09    -0.62
    Services                         -1.50    -2.13    -1.41
  Imports                            -4.01     0.88     0.74
    Goods                            -3.04     1.14     0.27
    Services                         -0.97    -0.26     0.47
Government consumption
  expenditures and gross              3.19     0.94     4.27
    investment
  Federal                             2.66     1.63     3.64
  Territorial                         0.53    -0.69     0.63

Table 4. Highlights of GDP Growth, U.S. Virgin Islands

Percent Change From Preceding Year in Real GDP

                                      2003     2004     2005     2006

    Gross domestic product (GDP)      -1.0      3.4      3.7      4.0
Personal consumption expenditures      2.7      4.2      8.4      6.0
Private fixed investment             -32.3     11.6     18.8      3.6
Change in private inventories
Net exports of goods and services
  Exports                             16.6      6.5      0.8     -5.2
    Goods                             19.3      6.3      0.5     -5.5
    Services                           3.6      7.7      3.3     -1.8
  Imports                             17.4      7.5      1.4     -5.6
    Goods                             17.6      7.4      1.5     -5.6
    Services                          12.0      9.0     -1.6     -7.9
Government consumption
  expenditures and gross             -10.9      3.2      0.8      6.8
    investment
  Federal                              9.6      9.4     -5.2      0.7
  Territorial                        -13.2      2.3      1.8      7.8
Addendum:
Previously published GDP              -1.2      3.5      3.7      4.0

                                      2007     2008     2009

    Gross domestic product (GDP)       4.3     -1.3     -5.6
Personal consumption expenditures     -5.2     -9.3     -0.2
Private fixed investment             -13.9    -12.5     -7.3
Change in private inventories
Net exports of goods and services
  Exports                              0.4      1.8     -9.4
    Goods                              0.4      1.8     -9.7
    Services                           0.0      1.6     -5.7
  Imports                             -5.8      5.7     -7.0
    Goods                              0.0      6.1     -7.2
    Services                           8.2    -13.7      1.4
Government consumption
  expenditures and gross              10.1     -0.6      3.3
    investment
  Federal                              1.8      3.5     13.4
  Territorial                         11.3     -1.1      2.0
Addendum:
Previously published GDP               4.4

Percent Change From Preceding Year in Price Indexes

                                      2003     2004     2005     2006

Gross domestic product                 5.9      6.8     12.6     -1.9
Personal consumption expenditures      2.8      3.4      3.8      2.6

                                      2007     2008     2009

Gross domestic product                 2.3    -11.9      6.5
Personal consumption expenditures      5.5      9.7      1.6

Real GDP
[Millions of chained (2005) dollars]

                                      2002     2003     2004     2005

    Gross domestic product           4,200    4,159    4,299    4,457
Personal consumption expenditures    1,781    1,829    1,906    2,065
Private fixed investment               496      336      375      446
Change in private inventories         -161       49       46       -5
Net exports of goods and services    1,093    1,206    1,191    1,138
  Exports                            9,293   10,835   11,540   11,632
    Goods                            8,277    9,879   10,503   10,556
    Services                           933      967    1,041    1,076
  Imports                            8,200    9,629   10,349   10,495
    Goods                            7,985    9,395   10,092   10,243
    Services                           209      234      256      252
Government consumption
  expenditures and gross               878      782      807      814
    investment
  Federal                               97      106      116      110
  Territorial                          778      676      692      704
Addenda:
Population (thousands) (1)           110.0    110.7    111.5    111.5
Per capita real GDP                 38,182   37,570   38,556   39,973
  (chained dollars)

                                      2006     2007     2008     2009

    Gross domestic product           4,635    4,836    4,775    4,509
Personal consumption expenditures    2,189    2,076    1,882    1,879
Private fixed investment               462      397      348      322
Change in private inventories          -26      -14      105      200
Net exports of goods and services    1,122    1,732    1,397    1,035
  Exports                           11,029   11,069   11,269   10,212
    Goods                            9,974   10,014   10,197    9,207
    Services                         1,057    1,057    1,073    1,012
  Imports                            9,907    9,337    9,872    9,177
    Goods                            9,675    9,092    9,646    8,954
    Services                           232      251      216      219
Government consumption
  expenditures and gross               869      957      952      984
    investment
  Federal                              110      112      116      132
  Territorial                          759      845      835      852
Addenda:
Population (thousands) (1)           113.7    114.7    115.9    117.0
Per capita real GDP                 40,765   42,162   41,199   38,538
  (chained dollars)

(1.) Source: 2009 US Virgin Islands Annual Economic Indicators

GDP
[Millions of dollars]

                                      2002     2003     2004     2005

    Gross domestic product           3,295    3,456    3,817    4,457
Personal consumption expenditures    1,613    1,703    1,836    2,065
Private fixed investment               436      303      354      446
Change in private inventories          -73       27       33       -5
Net exports of goods and services      497      658      814    1,138
  Exports,                           4,809    6,520    8,604   11,632
    Goods                            3,911    5,575    7,587   10,556
    Services                           898      945    1,017    1,076
  Imports                            4,312    5,861    7,790   10,495
    Goods                            4,140    5,651    7,547   10,243
    Services                           172      210      243      252
Government consumption
  expenditures and gross               822      765      779      814
    investment
  Federal                               84       93      109      110
  Territorial                          739      671      670      704

                                      2006     2007     2008     2009

    Gross domestic product           4,546    4,853    4,219    4,243
Personal consumption expenditures    2,246    2,247    2,235    2,267
Private fixed investment               490      435      391      361
Change in private inventories          -30     -540      180      210
Net exports of goods and services      879    1,636      316      253
  Exports,                          12,730   14,141   18,412   10,787
    Goods                           11,628   13,002   17,255    9,696
    Services                         1,102    1,139    1,157    1,091
  Imports                           11,850   12,505   18,095   10,534
    Goods                           11,615   12,251   17,861   10,310
    Services                           235      254      234      225
Government consumption
  expenditures and gross               960    1,074    1,098    1,152
    investment
  Federal                              117      126      134      150
  Territorial                          843      949      964    1,002

NOTE Detail may not add to total due to rounding

Contributions to Percent Change in Real GDP

                                      2003     2004     2005     2006
Percent change:
    Gross domestic product            -1.0      3.4      3.7      4.0
Percentage points:
Personal consumption expenditures     1.31     2.07     3.91     2.85
Private fixed investment             -4.22     1.01     1.71     0.37
Change in private inventories         3.12    -0.05    -1.08    -0.51
Net exports of goods and services     1.54    -0.36    -1.00    -0.06
  Exports                            25.48    13.35     1.97   -14.78
    Goods                            24.50    11.29     1.12   -14.33
    Services                          0.98     2.06     0.85    -0.45
  Imports                           -23.94   -13.72    -2.97    14.71
    Goods                           -23.30   -13.17    -3.07    14.26
    Services                         -0.64    -0.55     0.10     0.46
Government consumption
  expenditures and gross             -2.71     0.69     0.16     1.33
    investment
  Federal                             0.24     0.26    -0.14     0.02
  Territorial                        -2.95     0.44     0.30     1.31

                                      2007     2008     2009
Percent change:
    Gross domestic product             4.3     -1.3     -5.6
Percentage points:
Personal consumption expenditures    -2.59    -4.86    -0.10
Private fixed investment             -1.51    -1.21    -0.66
Change in private inventories       -10.43    17.34     3.00
Net exports of goods and services    16.72   -12.38    -8.66
  Exports                             1.06     6.50   -32.76
    Goods                             1.06     6.10    -1.24
    Services                          0.00     0.40    -1.51
  Imports                            15.66   -18.88    24.09
    Goods                            16.08   -19.67    24.17
    Services                         -0.42     0.79    -0.07
Government consumption
  expenditures and gross              2.13    -0.14     0.85
    investment
  Federal                             0.05     0.10     0.41
  Territorial                         2.09    -0.23     0.44