U.S. Virgin Islands` Economy Tops $19 Billion In Sales In 2007

admin

CaribWorldNews, WASHINGTON, D.C., Weds. July 22, 2009:  The 2,583 businesses in the U.S. Virgin Islands` economy generated $19.5 billion in sales and employed 35,300 people, with $1.1 billion in annual payroll.

That`s according to latest data from the U.S. Census Bureau`s 2007 Economic Census of Island Areas: Geographic Area Series for the U.S. Virgin Islands. 

Retail trade sales increased 15 percent to $1.4 billion between 2002 and 2007, the report, released Tuesday, added.

The U.S. Virgin Islands is a U.S. territory in the Caribbean. The economic census  – conducted every five years – profiles the territory as a whole, and the three islands (St. Croix, St. John and St. Thomas) and towns individually for businesses with paid employees. The 2007 Economic Census included the petroleum refinery industry, which was excluded in the 2002 Economic Census.

Retail trade employment also increased over the same period while the largest share of retail sales was found in clothing and clothing accessories stores.

Businesses in St. Croix reported $16.1 billion in total sales while St. Thomas reported $3.1 billion in total sales.

Next Post

Coast Guard Searches On For Missing Haitians

CaribWorldNews, PROVIDENCIALES, Turks and Caicos, Weds. July 29, 2009: U.S. Coast Guard officials were yesterday still searching the waters near the Turks and Caicos Islands for dozens of missing Haitians. The Haitians were on a small boat that ran aground and capsized in reef-studded waters off the near West Caicos […]