Real gross domestic product (GDP) for Guam increased 5.1 percent in 2022 after increasing 2.1 percent in 2021 (table 1.3), according to statistics released today by the U.S. Bureau of Economic Analysis (BEA). These statistics were developed under the Statistical Improvement Program, funded by the Office of Insular Affairs (OIA) of the U.S. Department of the Interior.

GDP for 2022

The increase in real GDP reflected increases in exports, private fixed investment, government spending, and personal consumption expenditures (table 1.2). Imports, a subtraction item in the calculation of GDP, increased.

Exports of goods and services increased 150.4 percent (table 1.3). The increase in exports was accounted for by exports of services, which consists primarily of spending by visitors.…