The composition of Montserrat's GDP in 2023 shows a dominant service sector at 68.64%, highlighting significant economic reliance. Wholesale, retail trade, restaurants, and hotels contribute 8.57%, while transport, storage, and communication add 8.2%. Mining, manufacturing, and utilities bring 6.47%, closely followed by construction at 6.46%. Agriculture maintains a modest role at 1.66%. Year-on-year comparisons show minimal sectoral shifts, indicative of economic stability. Over the last five years, the sectors' value changes reflect consistent growth trends without volatility.
Future trends to watch in Montserrat's GDP composition include:
- The continued expansion and technological advancements in the services sector.
- Potential growth in construction driven by infrastructure projects.
- Challenges and opportunities in agriculture due to climate change and innovation.
- The impact of tourism recovery on trade and hospitality post-2023 effects.
Top countries in GDP Composition by Sector
| # | 6 Countries | Percent | Last Year | |
|---|---|---|---|---|
| 1 | 1 Services | 68.64 | 2016 | |
| 2 | 2 Wholesale, retail trade, restaurants and hotels | 8.57 | 2016 | |
| 3 | 3 Transport, storage and communication | 8.2 | 2016 | |
| 4 | 4 Mining, Manufacturing, Utilities | 6.47 | 2016 | |
| 5 | 5 Construction | 6.46 | 2016 | |
| 6 | 6 Agriculture, hunting, forestry, fishing | 1.66 | 2016 |
