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Tuesday, September 15, 2020

Census Bureau Announces Guam Economy Grew by 36 Percent in Sales Between 2002 and 2007

Maybe it’s time for me to move back to Guam.  I saw this article and now with the military buildup it looks like there might be room for me rake some of it in.

Take a look at this news release:

WASHINGTON, May 26 /PRNewswire-USNewswire/ — Guam’s economy generated $6.2 billion in sales in 2007, up from $4.6 billion in 2002, according to the U.S. Census Bureau’s 2007 Economic Census of Island Areas: Geographic Area Series for Guam.

The economic census profiles Guam’s economy every 5 years. In 2007, Guam had 3,143 businesses with paid employees. These businesses employed 52,394 people and accounted for $1.1 billion in annual payroll. This compares with 2002, when Guam had 2,926 employer businesses, with 43,104 employees and an annual payroll of $846 million.

The 2007 census data include statistics for Guam and its 19 election districts for businesses with paid employees. Guam is a U.S. territory in the western Pacific Ocean.

Other findings:

  • In 2007, the retail trade sector in Guam accounted for $1.6 billion in sales, employed 8,219 people and paid $150 million in annual payroll. This compared with 2002, when the sector saw sales of $1.3 billion, employed 7,402 people and had an annual payroll of $123 million.
  • The largest share of retail sales in Guam was found in general merchandise stores ($334 million) and food and beverage stores ($327 million). In 2002, general merchandise stores sales were $299 million and food and beverage stores sales were $259 million.
  • Businesses in the Tamuning election district reported $3.6 billion in total sales – more than 57 percent of total sales in 2007, compared with $2.7 billion in 2002.
  • Guam had 193 businesses with 50 or more employees in 2007, representing 6 percent of all businesses. These businesses accounted for 57 percent ($3.6 billion) of total sales. In 2002, there were 169 businesses with 50 or more employees, accounting for $2.2 billion in total sales.

These data for Guam are available through the Census Bureau’s American FactFinder, an online data tool that allows users to access, filter, manipulate and extract data. Data for the Northern Mariana Islands were released in March 2009. Data for the U.S. Virgin Islands, American Samoa and Puerto Rico will be released between July 2009 and September 2010. More information about the Economic Census of Island Areas is available at http://www.census.gov/econ/islandareas/index.html.

Editor’s note: More information about the 2007 Economic Census of Island Areas can be found at http://www.census.gov/econ/islandareas/index.html. For information on confidentiality protection, nonsampling error and definitions, see the Methodology description at http://www.census.gov/econ/islandareas/methodology.html.

Now I’m craving some island food.

Edel Alonhttp://edelalon.com
Edel-Ryan Alon is a starving musician, failed artist, connoisseur of fine foods, aspiring entrepreneur, husband, father of two, geek by day, cook by night, and an all around great guy.

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