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Economic Performance of [Country Name] in First Half of 2021

Summary

The economic performance of [Country Name] in the first half of 2021 was mixed, with some sectors showing improvement while others faced challenges. The overall growth rate was moderate, with a notable increase in the value of products manufactured.

Key Points

Recovery and Growth

• Recovery in Commercial and Private Passenger Flights: After a decline in 2020, there is an indication of recovery in this sector.
• Improvement in Wholesale and Retail Trade: Retail sales excluding building materials rose by 4.2%, while retail sales of building materials increased by 126.2% due to a spike in residential construction.

Manufacturing Growth

The value of products manufactured grew by 22.3%, with mixed outcomes across different product categories:

• Animal Feed: Declined by 6.9%
• Other Production: Fell by 9.4%
• Grain Mill & Bakery Products: Increased by 5.4% despite several factors affecting demand
• Beverage Production: Rose by 35.7%

Private Education

The St. George’s University resumed in-person learning on campus for the August 2021 semester after delivering programs online since March 2020.

Challenges

International Trade Issues

• Challenges related to international trade, highlighted in the transport section.
• Article 164 non-implementation affects exports from lesser-developed countries (LDCs) like Grenada.
• Increased cost of freight and inputs necessitated an increase in local flour prices early this year.