Small States

Economic Review and Basic Statistics, Volume 15

image of Small States

This unique annual collection of key economic and statistical data on states with fewer than five million inhabitants is an essential reference for economists, planners and policy-makers. The Commonwealth’s definition of small states is those with a population of one and a half million or less. For comparison purposes this volume presents, where available, data on states with a population of up to five million.

The book contains 68 tables covering selected economic, social, demographic and Millennium Development Goal indicators culled from international and national sources and presents information unavailable elsewhere. A detailed parallel commentary on trends in Commonwealth small states, looking at growth, employment, inflation, human development, and economic policy, permits a deeper understanding of developments behind the figures.

The book also includes three articles focusing on public private partnerships: Public–Private Partnerships in Mauritius by Vishwanaden Soondram; and Public–Private Partnerships: Mobilising Private Sector Funding and Public–Private Partnerships: Frequently Asked Questions by Hee Kong Yong. Mr Soondram works as a Lead Analyst at the Mauritius Ministry of Finance and Economic Development and Mr Yong works as an Adviser (Public Private Partnerships) in the Government and Institutional Development Division of the Commonwealth Secretariat.



Recent Economic Trends in Commonwealth Small States

In 2009 the economies of small states declined faster than those of other developing economies and the world economy as a whole. Small states continued to experience various challenges, including the inability to attract very high quantities of foreign direct investment or to achieve a diversified economy. Economic diversification remains amajor policy focus for small states. Due to this lack of diversification, where many economies depend on one main sector such as tourism, unemployment and public debt ratios remain very high.While small states benefited from the fall in international commodity prices through lower inflation and the narrowing of the external current account deficit, some countries, such as Botswana, that are heavily dependent on the export of commodities moved from their normal position of surplus to one of deficit.


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