Saint Vincent and the Grenadines GDP Composition by Sector

In 2023, the GDP composition of Saint Vincent and the Grenadines was dominated by the services sector, contributing 45.7% to the total GDP. This was followed by wholesale, retail trade, restaurants, and hotels at 15.62%; transport, storage, and communication at 13.07%; mining, manufacturing, and utilities at 9.66%; agriculture, hunting, forestry, and fishing at 8.2%; and construction at 7.75%.

Over the past two years, there have been notable trends per sector. The services sector showed stable growth. Meanwhile, wholesale and retail trade along with restaurants and hotels indicated a slight upward trend likely due to increased tourism and consumer activity. Transport and communication experienced moderate growth as digitalization increased. Mining, manufacturing, and utilities showed modest advancement. Agriculture exhibited some vulnerability yet remained significant. Construction held steady with smaller growth due to continuous infrastructure projects.

Future trends to watch:

• Continued growth in the services sector, driven by increasing digitization.
• Potential expansion in tourism impacting wholesale, retail trade, and hospitality positively.
• Transport and communication expected to benefit from technological advancements.
• Agriculture may face challenges from climate but could see innovation-driven productivity improvements.
• Sustained infrastructure investments likely to support the construction sector’s growth.