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OECS Report-Assessment of Trade Performance and Competitiveness

OECS Report-Assessment of Trade Performance and Competitiveness

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10/25/2012

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An Assessment of Trade Performance andCompetitiveness of OECS Countries
October 28, 2005Prepared by Christopher Vignolesfor the Caribbean Regional Negotiating Machinery (CRNM)
 
T
ABLE OF
C
ONTENTS
 
I.
 
Introduction...........................................................................................................................1
 
II.
 
The Importance of Trade.....................................................................................................2
 
III.
 
Trade in Services...................................................................................................................4
 A. Importance of Services Trade.............................................................................................4B. Trade Performance..............................................................................................................5C. Travel Services measuring tourism’s competitiveness....................................................7(i) Tourism arrivals stopover visitors and cruise ship passengers....................................7(ii) Tourism visitor expenditures..........................................................................................8(iii) Price competitiveness......................................................................................................9(iv) Tourism competitiveness monitor.................................................................................10(v) The tourism satellite account........................................................................................11D. Commercial and Transportation Services.........................................................................12E. The Provision of Services via Modes 3 and 4..................................................................14F. Evaluating Services Trade................................................................................................16
IV.
 
Merchandise Trade.............................................................................................................18
 A. Trade Performance............................................................................................................18(i) Growth and patterns in the direction of trade...............................................................18(ii) Composition of trade by sectors...................................................................................20(iii) Export concentration and principal products................................................................22B. Competitiveness, Specialization and Complementarity...................................................23(i) Real effective exchange rate.........................................................................................24(ii) Market access and penetration......................................................................................24(iii) International competitiveness of exports......................................................................26(iv) Export specialization.....................................................................................................28(v) Trade complementarity and intensity............................................................................30
 
C. Evaluating Merchandise Trade.........................................................................................31
V.
 
Competitiveness through Cost Structures........................................................................33
 A. Inputs and Factors of Production......................................................................................33(i) Labor.............................................................................................................................33(ii) Capital...........................................................................................................................34(iii) Inputs as goods and services.........................................................................................35B. Infrastructure Costs...........................................................................................................36(i) Transport.......................................................................................................................36(ii) Telecommunications.....................................................................................................36(iii) Electricity......................................................................................................................37
VI.
 
Trade and Integration: A Strategy for Growth...............................................................39
 A. Exports and Growth..........................................................................................................39(i) Challenges in scale, cost and preference erosion..........................................................39(ii) Opportunity in diversification.......................................................................................41B. A Strategy for Competitiveness.......................................................................................41(i) Unilateral action............................................................................................................42(ii) A multilateral agenda....................................................................................................43(iii) Regional integration.......................................................................................................44
Statistical AppendixBibliography
The views expressed in this document reflect those of the author and not of the CaribbeanRegional Negotiating Machinery. The author would like to thank Henry Gill, RameshChaitoo and Dr. Claudius Preville for their valuable comments on a draft of this report.

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