FOR IMMEDIATE RELEASE
THURSDAY, SEPTEMBER 30, 2004 Mike Bergman CB04-175 Public Information Office (301) 763-3030/457-3670 (fax) (301) 457-1037 (TDD) e-mail: <email@example.com>
Retail Trade, Tourism Pace Guam's Economy The retail trade sector of Guam's economy recorded the most sales and receipts for goods and services ($1.3 billion) of all industries covered in the 2002 Economic Census, according to a U.S. Census Bureau report released today.
The report, 2002 Economic Census of Island Areas: Guam [PDF], said tourism-related industries also comprised a large portion of Guam's economy: accommodation and food-service businesses employed the most people (11,199), had the largest annual payroll ($169 million) and collected $630 million in receipts.
? Overall, 2,926 Guamanian businesses were covered in the census. These businesses had sales of $4.6 billion, employed 43,104 people and had an annual payroll of $846 million.
? Within the retail trade sector, general merchandise stores accounted for $299 million in sales, more than 20 percent of total retail sales.
? Wholesalers had sales of $516 million, employed 1,920 people and had an annual payroll of $43 million.
The report contains the first economic census information for Guam based on the North American Industry Classification System. Previous censuses were based on the Standard Industrial Classification System, so 2002 data for most industries are not directly comparable with previous economic censuses. Economic census data are subject to nonsampling error, which includes errors of response, processing, nonreporting and coverage. -