IEDOM publishes its 2021 SXM annual report


As written in our previous edition, the Overseas Departments Issuing Institute (IEDOM) has published its 2021 annual report for Saint-Martin. Thierry Beltrand, director of IEDOM Guadeloupe, Saint-Martin and Saint-Barthélémy and Damion Gordon, research and credit institution manager, presented it to the press. Second part of the summary.

The estimate of the gross domestic product (GDP) of Saint-Martin was carried out in 2018 from data dating from 2014 without taking into account the destruction caused by the passage of Irma. An update is planned for 2023. In 2014, the GDP of Saint-Martin is estimated at 581,8 million euros, against 557,4 million in 2011. The GDP per capita thus amounts to 16.572€ in 2014 against 15.362 € in 2011, i.e. an average annual growth of 2,6%, it is significantly lower than that of the average for France as a whole (€32.404 in 2014), than those observed in Guadeloupe and Sint Maarten, but close to those calculated in Guyana and in Anguilla. In terms of employment and unemployment, between 2011 and 2019, the active population of Saint-Martin fell by 11,1% and labor market indicators deteriorated, despite an activity rate of 75,3 .32,9%. The unemployment rate stood at 2,4% (+2011 points compared to 0,8), while the employment rate fell by 2021 point. In 22,8, trade and the accommodation and catering sector will each account for a fifth of the workforce (21,8% and 9,5% respectively). Construction and industry account for 8,4% and 2019% respectively, while agriculture is declining. In Saint-Martin, economic development is closely linked to the construction sector, which, like tourism, is a key sector. Post-Irma reconstruction work has revitalized the sector. Since 2021, this effect has diminished and, in 23,1, the salaried workforce in the sector recorded a further decrease of 24,3%, after 2020% in 2021 following the covid crisis. However, the activity presents good prospects and this sector continues to benefit from active bank financing. As proof, labor needs are on the rise in the northern islands. In 43,2, the private sector payroll in our territory reached 20,8 million euros, up 2020% compared to 2021 impacted by the health crisis. Finally, for the “cost of living” component, Saint-Martin does not publish a price index specific to its Collectivity. However, the economic actors questioned by the IEDOM report a rise in prices in XNUMX where they suffer from the increase in both the prices of raw materials and goods, and their transport costs. The report also indicates a rebound in tourism and significant property development. Optimism therefore remains in order for a territory considered attractive and with high potential by the IEDOM. To find out more about the economic activity of Saint-Martin, consult the annual report of the IEDOM, which is fascinating and available online. _Vx



 Over-indebtedness: IEDOM helps you

Reopened last year after a two-year hiatus, the IEDOM Reception and Information Office (BAI) in Saint Martin welcomes people in a situation of over-indebtedness every first Friday of the month, from 9:30 a.m. to 12:30 p.m. 14 p.m. to 15 p.m. An IEDOM agent receives you at the premises of the Collectivity in Marigot to guide you through the procedures (filing or monitoring of an over-indebtedness file, exercise of the right of access to the files of the Banque de France or the right to the account , etc.), and to answer all your questions. Exceptionally for the coming month, the next service will take place on Friday, October 14, 2022 (instead of 7). Please bring a valid ID.

  Info: private

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