Real gross domestic product (GDP) for the U.S. Virgin Islands (USVI) decreased 1.3 percent in 2022 after increasing 3.7 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 of the U.S. Department of the Interior. GDP for 2022 The decrease in real GDP reflected declines in exports, private fixed investment, government spending, and personal consumption expenditures that were partly offset by an increase in inventory investment (chart 1). Imports, a subtraction item in the calculation of GDP, decreased. Exports of goods and services decreased 18.9 percent (table 1.3), reflecting a decrease in exports of goods that was partly offset by an increase in exports of services. The decline in exports of goods primarily reflected decreases in exports of crude oil and petroleum products.…