HOUSE_OVERSIGHT_018822.jpg
1.24 MB
Extraction Summary
0
People
5
Organizations
4
Locations
1
Events
2
Relationships
2
Quotes
Document Information
Type:
Economic analysis report page
File Size:
1.24 MB
Summary
This document is a page from an economic analysis report for the U.S. Virgin Islands, covering the years 2007-2014. It highlights the severe negative impact of the Hovensa refinery's closure (c. 2012) on the territory's exports, particularly refined petroleum. The document, sourced from the VI Bureau of Economic Research, also notes the economy's predominant reliance on the tourism industry.
Organizations (5)
| Name | Type | Context |
|---|---|---|
| Hovensa refinery |
Mentioned as a closed refinery that was one of the territory's largest employers, whose closure had a significant imp...
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| VI Bureau of Economic Research |
Cited as the source for the commerce and trade data provided in the table.
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| IGY American Yacht Harbor Marina |
Mentioned in the footer of the document, possibly indicating the subject of the larger report from which this page wa...
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| irr |
Logo appears in the footer, likely the firm that authored the report.
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| HOUSE_OVERSIGHT |
Referenced in the document's Bates number 'HOUSE_OVERSIGHT_018822', indicating it is part of a collection from a U.S....
|
Timeline (1 events)
Circa 2012
The closure of the Hovensa refinery. The document states this had a 'significant impact on exports' and the data shows a sharp decline in refined petroleum exports from $10,486.1 million in 2011 to $932.4 million in 2012.
U.S. Virgin Islands
Locations (4)
| Location | Context |
|---|---|
|
The territory whose economy is being analyzed, as indicated by the 'VI Bureau of Economic Research' source and mentio...
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Mentioned as destinations for ocean freight imports.
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Mentioned as a destination for ocean freight imports (excluding petroleum).
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A specific location mentioned in the footer, likely located in the U.S. Virgin Islands.
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Relationships (2)
The document states the refinery was one of the territory's largest employers and its closure had a 'significant impact on exports'.
U.S. Virgin Islands Economy
→
Economic Dependency
→
Tourism Industry
The document states the territory 'predominently relies on the tourism industry to support the economy'.
Key Quotes (2)
"The closure of the Hovensa refinery, which was one of the territory's largest employers, also had a significant impact on exports which were prevously dominated by petrolium products."Source
HOUSE_OVERSIGHT_018822.jpg
Quote #1
"Otherwise, the territory predominently relies on the tourism industry to support the economy."Source
HOUSE_OVERSIGHT_018822.jpg
Quote #2
Full Extracted Text
Complete text extracted from the document (2,278 characters)
Area Analysis
12
12
Economic Indicators
$45,000
$40,000
$35,000
$30,000
$25,000
$20,000
$40,000
$35,000
$30,000
$25,000
$20,000
$5,000
$4,500
$4,000
$3,500
$3,000
$2,500
$2,000
$4,500
$4,000
$3,500
$3,000
$2,500
$2,000
2007 2008 2009 2010 2011 2012 2013 2014
- GTP Per Capita
- Per capita personal income ($)
- Gross Territorial Product (GTP, Millions)
- Per capita personal income ($)
- Gross Territorial Product (GTP, Millions)
The closure of the Hovensa refinery, which was one of the territory's largest employers, also had a significant impact on exports which were prevously dominated by petrolium products. Otherwise, the territory predominently relies on the tourism industry to support the economy.
Commerce and Trade (Millions of $ Unless Otherwise Noted)
2007
2008
2009
2010
2011
2012
2013
2014
5-Yr Annual Growth
2008
2009
2010
2011
2012
2013
2014
5-Yr Annual Growth
Total exports
$12,961.8
$17,249.4
$9,728.3
$11,929.5
$13,313.5
$2,263.2
$1,284.8
$1,671.4
-16.6%
To U.S.
$12,182.2
$14,496.3
$8,495.3
$9,992.5
$10,994.8
$1,377.7
$265.4
$225.8
-19.5%
Refined petroleum
$11,242.1
$13,591.9
$8,327.3
$9,759.4
$10,486.1
$932.4
$61.6
$6.5
-20.0%
Other
$940.1
$904.4
$168.0
$233.1
$508.7
$445.3
$233.8
$219.3
6.1%
To foreign
$779.6
$2,753.1
$1,233.0
$1,937.0
$2,318.7
$885.5
$1,019.4
$1,445.6
3.4%
$12,961.8
$17,249.4
$9,728.3
$11,929.5
$13,313.5
$2,263.2
$1,284.8
$1,671.4
-16.6%
To U.S.
$12,182.2
$14,496.3
$8,495.3
$9,992.5
$10,994.8
$1,377.7
$265.4
$225.8
-19.5%
Refined petroleum
$11,242.1
$13,591.9
$8,327.3
$9,759.4
$10,486.1
$932.4
$61.6
$6.5
-20.0%
Other
$940.1
$904.4
$168.0
$233.1
$508.7
$445.3
$233.8
$219.3
6.1%
To foreign
$779.6
$2,753.1
$1,233.0
$1,937.0
$2,318.7
$885.5
$1,019.4
$1,445.6
3.4%
Total imports
$12,251.0
$17,861.3
$10,289.9
$12,153.9
$13,972.7
$2,966.7
$2,590.1
$3,391.8
-13.4%
From U.S.
$1,261.0
$1,214.6
$1,139.3
$1,548.9
$1,767.6
$1,719.4
$2,119.2
$2,144.5
17.6%
Crude petroleum
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
Other
$1,261.0
$1,214.6
$1,139.3
$1,548.9
$1,767.6
$1,719.4
$2,119.2
$2,144.5
17.6%
From foreign
$10,990.0
$16,646.7
$9,150.6
$10,605.0
$12,205.1
$1,247.3
$470.9
$1,247.3
-17.3%
Crude petroleum
$8,204.7
$12,045.8
$7,085.9
$7,721.7
$10,340.9
$660.3
$0.0
$660.3
-18.1%
Other
$2,785.3
$4,600.9
$2,064.7
$2,883.3
$1,864.2
$587.0
$470.9
$1,247.3
-7.9%
$12,251.0
$17,861.3
$10,289.9
$12,153.9
$13,972.7
$2,966.7
$2,590.1
$3,391.8
-13.4%
From U.S.
$1,261.0
$1,214.6
$1,139.3
$1,548.9
$1,767.6
$1,719.4
$2,119.2
$2,144.5
17.6%
Crude petroleum
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
Other
$1,261.0
$1,214.6
$1,139.3
$1,548.9
$1,767.6
$1,719.4
$2,119.2
$2,144.5
17.6%
From foreign
$10,990.0
$16,646.7
$9,150.6
$10,605.0
$12,205.1
$1,247.3
$470.9
$1,247.3
-17.3%
Crude petroleum
$8,204.7
$12,045.8
$7,085.9
$7,721.7
$10,340.9
$660.3
$0.0
$660.3
-18.1%
Other
$2,785.3
$4,600.9
$2,064.7
$2,883.3
$1,864.2
$587.0
$470.9
$1,247.3
-7.9%
Rum exports to U.S. (thous. of P.L.)
$28,725.1
$31,478.7
$38,445.3
$40,045.1
$35,801.2
$62,570.0
$68,335.4
$59,418.5
10.9%
Watch exports to U.S. (thousands)
$251.4
$183.6
$75.0
$52.0
$52.7
$55.6
$60.0
$76.8
0.5%
Ocean freight imports (thousands of tons)
1,092.0
1,080.0
1,065.0
1,091.0
1,157.0
1,975.0
931.0
866.0
-3.7%
To St. Thomas/St. John
851.0
774.0
685.0
612.0
720.0
1,199.0
564.0
558.0
-3.7%
To St. Croix (excluding petroleum)
241.0
306.0
380.0
479.0
436.0
776.0
367.0
308.0
-3.8%
$28,725.1
$31,478.7
$38,445.3
$40,045.1
$35,801.2
$62,570.0
$68,335.4
$59,418.5
10.9%
Watch exports to U.S. (thousands)
$251.4
$183.6
$75.0
$52.0
$52.7
$55.6
$60.0
$76.8
0.5%
Ocean freight imports (thousands of tons)
1,092.0
1,080.0
1,065.0
1,091.0
1,157.0
1,975.0
931.0
866.0
-3.7%
To St. Thomas/St. John
851.0
774.0
685.0
612.0
720.0
1,199.0
564.0
558.0
-3.7%
To St. Croix (excluding petroleum)
241.0
306.0
380.0
479.0
436.0
776.0
367.0
308.0
-3.8%
Source: VI Bureau of Economic Research
IGY American Yacht Harbor Marina
irr
HOUSE_OVERSIGHT_018822
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