Fixed Guatemala's numbers

docs/_tex/index.tex

@@ -171,6 +171,14 @@
 
 \title{Bioeconomy Accounting: Methods and Pilot Application to 13 Latin
 American Economies}
+\usepackage{etoolbox}
+\makeatletter
+\providecommand{\subtitle}[1]{% add subtitle to \maketitle
+  \apptocmd{\@title}{\par {\large #1 \par}}{}{}
+}
+\makeatother
+\subtitle{Working Paper first presented at the Global Bioeconomy Summit
+2024}
 \author{Renato Vargas \and Andrés Mondaini \and Adrián
 Rodríguez \and Mónica Rodríguez \and Irene Alvarado \and Paul Wander}
 \date{}
@@ -483,13 +491,13 @@ \subsection{Results}\label{results}
 \subsubsection{Bioeconomy SUT: The case of
 Guatemala}\label{bioeconomy-sut-the-case-of-guatemala}
 
-In the Supply Table (Table~\ref{tbl-gtm19-sup}), the most important
+In the Supply Table (Table~\ref{tbl-gtm18-sup}), the most important
 categories correspond to the output (OP) or the production of goods and
 services, which are divided into bioeconomy, extended bioeconomy, and
 non-bioeconomy. For presentation purposes, all 152 products and services
 from the Guatemalan economy, as published in the ECLAC repository
 (ECLAC, 2021), are aggregated into these three categories. In the case
-of the use table (Table~\ref{tbl-gtm19-use}), the same three bioeconomic
+of the use table (Table~\ref{tbl-gtm18-use}), the same three bioeconomic
 aggregations are displayed, but this time they represent the
 intermediate consumption and final consumption of the same 152 products
 (row data). In other words, purchases of inputs by activities for
@@ -500,9 +508,9 @@ \subsubsection{Bioeconomy SUT: The case of
 
 \begin{table}
 
-\caption{\label{tbl-gtm19-sup}Guatemala: Condensed Bioeconomy Supply
+\caption{\label{tbl-gtm18-sup}Guatemala: Condensed Bioeconomy Supply
 Table\\
-(Million GTQ at current prices, 2019)}
+(Million GTQ at current prices, 2018)}
 
 \centering{
 
@@ -518,69 +526,70 @@ \subsubsection{Bioeconomy SUT: The case of
 Utilities \& Water; F. Construction; G. Wholesale and Retail Trade; H-S.
 Other services.
 
-The flow of information from left to right in Table~\ref{tbl-gtm19-sup}
-shows output (OP) at producer prices (i.e., the price at the farm gate
-or factory), to which we then add imports free of insurance and freight
-costs to form the supply of goods and services in the economy at basic
-prices. The transactions in the following columns add detail on
-insurance and freight costs, taxes less subsidies on products, and
-distribution margins (i.e., transportation and marketing costs), which
-are added to bring these products to consumers. The last column shows,
-row by row, the availability of each good and service in the economy at
-market prices in the case of supply (Table~\ref{tbl-gtm19-sup}), which
-is equal to total use (in Table~\ref{tbl-gtm19-use}) row by row.
-
-Table~\ref{tbl-gtm19-sup} shows an output of 324.2 billion QTQ in
-bioeconomic products, which corresponds to 28.7\% of the total supply at
-purchaser's prices, amounting to 1.128 trillion GTQ. Products from the
-extended bioeconomy accounted for 152.3 billion GTQ, or 13.5\% of the
-total supply, while non-bioeconomic products represented 651.7 billion
-GTQ, or 57.8\% of total supply. Since SNA operates on the economic
-principle that supply equals demand, Table~\ref{tbl-gtm19-use} shows
-that the consumption of each category of products matches those of the
-Use Table. Taxes (less subsidies) on bioeconomic products amounted to
-9.4 billion GTQ and represented 26.1\% of total taxes on production
-(36.1 billion GTQ); extended bioeconomic products accounted for 17.0\%,
-and non-bioeconomic products made up 56.9\%.
+The flow of Bioeconomic information from left to right in
+Table~\ref{tbl-gtm18-sup} shows output (OP) at producer prices (i.e.,
+the price at the farm gate or factory), to which we then add imports
+free of insurance and freight costs to form the supply of goods and
+services in the economy at basic prices. The transactions in the
+following columns add detail on insurance and freight costs, taxes less
+subsidies on products, and distribution margins (i.e., transportation
+and marketing costs), which are added to bring these products to
+consumers. The last column shows, row by row, the availability of each
+good and service in the economy at market prices in the case of supply
+(Table~\ref{tbl-gtm18-sup}), which is equal to total use (in
+Table~\ref{tbl-gtm18-use}) row by row.
+
+Table~\ref{tbl-gtm18-sup} shows an output of GTQ306.8 billion in
+bioeconomic products, which corresponds to 28.9\% of the total supply at
+purchaser's prices (1.1 trillion GTQ). Products from the extended
+bioeconomy accounted for 145.8 billion GTQ, or 13.7\% of the total
+supply, while non-bioeconomic products represented 610.5 billion GTQ, or
+57.4\% of total supply. Since SNA operates on the economic principle
+that supply equals demand, Table~\ref{tbl-gtm18-use} shows that the
+consumption of each category of products matches those of the Use Table.
+Taxes (less subsidies) on bioeconomic products amounted to 8.9 billion
+GTQ and represented 26.5\% of total taxes on production (33.5 billion
+GTQ); extended bioeconomic products accounted for 17.4\%, and
+non-bioeconomic products made up 56.1\%.
 
 In absolute terms, non-bioeconomic products represent the largest source
 of tax revenue, but it is interesting to estimate the implicit tax rate
 for each type of product. This is done by dividing the taxes collected
 by the output value of each type of product. This reveals that the
-implicit tax rate for bioeconomic products is 4.8\% of production (9.4
-billion / (197.9 billion + 7.8 billion + 0.9 billion), 6.8\% for
-extended bioeconomic products, and 3.2\% for non-bioeconomic products.
-It is important to clarify that this estimated tax rate is not the
-result of an explicit fiscal policy decision targeting bioeconomic
-products, but rather the aggregate impact of all the different fiscal
-policy decisions that have been made in the country over time. Notably,
-the implicit tax rate is higher for bioeconomic and extended bioeconomic
-products compared to non-bioeconomic products.
-
-Table~\ref{tbl-gtm19-use} shows a condensed version of the Bioeconomy
+implicit tax rate for bioeconomic products is 4.8\% of output (8.8
+billion / 187.8 billion), 6.8\% for extended bioeconomic products, and
+3.1\% for non-bioeconomic products. It is important to clarify that this
+estimated tax rate is not the result of an explicit fiscal policy
+decision targeting bioeconomic products, but rather the aggregate impact
+of all the different fiscal policy decisions that have been made in the
+country over time. Notably, the implicit tax rate is higher for
+bioeconomic and extended bioeconomic products compared to
+non-bioeconomic products.
+
+Table~\ref{tbl-gtm18-use} shows a condensed version of the Bioeconomy
 Use Table, describing all possible destinations---row by row---for the
-total availability of products shown in Table~\ref{tbl-gtm19-sup}. The
+total availability of products shown in Table~\ref{tbl-gtm18-sup}. The
 first seven columns show Intermediate Consumption, with the eighth
 column showing the subtotal for that transaction. Intermediate
 Consumption describes the purchase of inputs for production by economic
-activities. In 2019, this transaction amounted to a total of 369.7
+activities. In 2018, this transaction amounted to a total of 353.6
 billion GTQ, of which 24.0\% corresponded to the purchase of bioeconomic
-products, 13.5\% to the purchase of extended bioeconomic products, and
-62.6\% to the purchase of non-bioeconomic products. Exports amounted to
-95.3 billion GTQ (net of CIF/FOB adjustments), with 46.4\% corresponding
-to bioeconomic products, 16.7\% to extended bioeconomic products, and
-36.9\% to non-bioeconomic products. This is understandable for a country
-where a significant portion of exports consists of agricultural
-products. Finally, out of 578.3 billion GTQ corresponding to final
-consumption (net of insurance and freight costs), 32.8\% accounted for
-bioeconomic products, 15.0\% for extended bioeconomic products, and
-52.2\% for non-bioeconomic products.
+products, 13.6\% to the purchase of extended bioeconomic products, and
+62.3\% to the purchase of non-bioeconomic products. Exports amounted to
+100.1 billion GTQ (net of CIF/FOB adjustments), with 41.5\%
+corresponding to bioeconomic products, 15.4\% to extended bioeconomic
+products, and 33.89\% to non-bioeconomic products. This is
+understandable for a country where a significant portion of exports
+consists of agricultural products. Finally, out of 533.4 billion GTQ
+corresponding to final consumption, 33.4\% accounted for bioeconomic
+products, 15.3\% for extended bioeconomic products, and 53.0\% for
+non-bioeconomic products.
 
 \begin{table}
 
-\caption{\label{tbl-gtm19-use}Guatemala: Condensed Bioeconomy Use
+\caption{\label{tbl-gtm18-use}Guatemala: Condensed Bioeconomy Use
 Table\\
-(Million GTQ at current prices, 2019)}
+(Million GTQ at current prices, 2018)}
 
 \centering{
 
@@ -598,7 +607,7 @@ \subsubsection{Bioeconomy SUT: The case of
 The remainder that results from subtracting intermediate consumption at
 purchaser's prices from production at producer's prices (which is
 technically known as gross output) is equal to gross Value Added (see
-Table~\ref{tbl-gtm19-use}). This is calculated for each economic
+Table~\ref{tbl-gtm18-use}). This is calculated for each economic
 activity (or column). Gross Value Added is similar to the profit that
 results from subtracting the cost of inputs (excluding labor) from total
 sales in a company, but at the level of the entire economy. The sum of
@@ -632,7 +641,7 @@ \subsubsection{Bioeconomy SUT: The case of
 economic activities can be more or less bioeconomic, whether from the
 perspective of production or intermediate consumption.
 
-Table~\ref{tbl-gtm19-use} also shows exports, which total 95.3 billion
+Table~\ref{tbl-gtm18-use} also shows exports, which total 95.3 billion
 GTQ (excluding the CIF/FOB adjustments row), with 46.4\% corresponding
 to bioeconomic products, 16.7\% to extended bioeconomic products, and
 36.9\% to non-bioeconomic products. This is reasonable for a country
@@ -798,7 +807,7 @@ \subsubsection{Comparative analysis for 13 economies of Latin America
 and The
 Caribbean}\label{comparative-analysis-for-13-economies-of-latin-america-and-the-caribbean}
 
-Following the same analytical approach used in Table~\ref{tbl-gtm19-sup}
+Following the same analytical approach used in Table~\ref{tbl-gtm18-sup}
 for the case of Guatemala, the panels in Figure~\ref{fig-latam-output}
 provide a comparative analysis of the percentage contribution of the
 Bioeconomy to several SNA transactions for Argentina, Brazil, Chile,