Latest small states statistics plug gap in global pool of data

A unique collection of statistics on small states, which include the latest information on economic, social development and environmental indicators, as well as characteristics of the major sectors of small economies, has been published by the Commonwealth Secretariat.

These statistics, which cover everything from life expectancy at birth to adult literacy rates and energy production, consumption and trade, plug a gap in the global pool of data which is currently heavily weighted with information on larger countries. They also shed light on some recent trends.

Statistics on the amount of foreign investment in small states, for instance, indicate that private investors are willing to inject considerable amounts of money, even where there is no promise of natural resources. In Antigua and Barbuda the amount of foreign investment shot up from US$214 to US$374 million between 2005 and 2006 and in St Lucia from US$78 to US$234 million during the same period.

Constance Vigilance, an Economic Adviser at the Secretariat who prepared the publication, puts this down to confidence in tourism industries.

“While there is no great surprise that there is heavy foreign investment in natural resource rich countries like Botswana, it is a good indication for small states that many foreign investors feel confident that they will see a positive return on their capital in countries where tourism is the major source of revenue,” she said.

This publication - ‘Small States: Economic Review and Basic Statistics’ – is the thirteenth annual issue and provides a useful resource for analysts from research and academic institutions. It contains 2007 data, which is the latest available. While regular (and more up-to-date) statistics are available for developed countries, with small states this data is far harder to come by.

As well as helping small states gauge their own status when compared with others, the publication also contains articles which highlight best practices in a number of areas.

Four articles focus on micro, small and medium-sized enterprise (MSME) development and highlight various challenges, lessons learned and opportunities seized by small states. One of these articles looks at strengthening supply chains for MSMEs in Namibia, while another highlights experiences in MSME networking in small states.

All 54 tables from the publication are available online at www.thecommonwealth.org/economics 

Secretariat Links:

• Economic Development

Related Websites:

• Commonwealth Publications