The Jamaican economy is heavily dependent on services, which accounts for more than 70% of GDP. The country continues to derive most of its foreign exchange from tourism, remittances, and bauxite/alumina. Earnings from remittances and tourism each account for about 15% of GDP, while bauxite/alumina exports have declined to less than 5% of GDP. Jamaica's economy has grown on average less than 1% a year for the last three decades and many impediments remain to growth: a bloated public sector which crowds out spending on important projects; high crime and corruption; red-tape;...
GDP | Reference | Last | Previous | Units | Frequency |
---|---|---|---|---|---|
Private Consumption | 2019 | 1,607,880,000,000 | 1,542,753,000,000 | JMD | Annual |
Investment | 2019 | 508,473,000,000 | 471,962,000,000 | JMD | Annual |
Nominal Fixed Investment (gross fixed capital formation) | 2017 | 409,526,310,700 | 373,327,000,000 | NCU | Annual |
Real Investment | 2016 | 182,640,000,000 | 181,867,000,000 | NCU | Annual |
Real Fixed Investment (gross fixed capital formation) | 2016 | 181,582,000,000 | 180,849,000,000 | NCU | Annual |
Nominal Gross Domestic Product | 2016 Q4 | 454,089,192,836 | 432,459,402,124 | JMD, NSA | Quarterly |
Real Gross Domestic Product | 2016 Q3 | 104.83 | 103.89 | Index 2005=100 | Quarterly |
Government Consumption | 2015 | 229,448 | 223,858 | Mil. JMD | Annual |
Price | Reference | Last | Previous | Units | Frequency |
Consumer Price Index (CPI) | Jan 2024 | 137.05 | 135.76 | Index 2019=100, SA | Monthly |
Labor | Reference | Last | Previous | Units | Frequency |
Agriculture Employment | 2017 | 279,595 | 273,951 | # | Annual |
Labor Force Employment | 2017 Q1 | 1,185 | 1,180 | Ths. | Quarterly |
Labor Force | 2016 | 1,487,500 | 1,469,165 | # | Annual |
Wage & Salaries | 2016 | 179,068,193,400 | 168,787,372,500 | NCU | Annual |
Unemployment | Oct 2003 | 128,900 | #, NSA | Monthly | |
Unemployment Rate | Oct 2003 | 10.9 | %, NSA | Monthly | |
Trade | Reference | Last | Previous | Units | Frequency |
Current Account Balance | 2023 Q2 | 240,957,439 | 188,963,491 | USD, NSA | Quarterly |
Imports of Goods | 2023 Q2 | 1,549,494,026 | 1,622,315,410 | USD, NSA | Quarterly |
Exports of Goods | 2023 Q2 | 515,068,387 | 527,384,999 | USD, NSA | Quarterly |
Balance of Goods | 2023 Q2 | -1,034,425,638 | -1,094,930,411 | USD, NSA | Quarterly |
Exports of Goods and Services | 2019 | 802,726,000,000 | 781,786,000,000 | JMD | Annual |
Imports of Goods and Services | 2019 | 1,098,998,000,000 | 1,042,292,000,000 | JMD | Annual |
Real Exports of Goods and Services | 2016 | 294,544,000,000 | 290,169,000,000 | NCU | Annual |
Real Imports of Goods and Services | 2016 | 378,949,000,000 | 386,410,000,000 | NCU | Annual |
Markets | Reference | Last | Previous | Units | Frequency |
Treasury Bills (over 31 days) | Feb 2024 | 8.3 | 8.42 | % p.a., NSA | Monthly |
Money Market Rate | Sep 2019 | 3 | 3 | % p.a., NSA | Monthly |
Lending Rate | Jun 2017 | 5 | 5 | % - End of period | Monthly |
Average Long-term Government Bond | Apr 1998 | 26.86 | 26.82 | % | Monthly |
Business | Reference | Last | Previous | Units | Frequency |
Change in Inventories | 2017 | 2,175,814,200 | 2,052,000,000 | NCU | Annual |
Industrial Production | 1990 Q4 | 96.22 | 98.1 | 1990=100, NSA | Quarterly |
Demographics | Reference | Last | Previous | Units | Frequency |
Population | 2020 | 2,961,161 | 2,948,277 | # | Annual |
Net Migration | 2017 | -93,000 | # | Annual | |
Birth Rate | 2016 | 16.63 | 16.81 | # per Ths. pop. | Annual |
Death Rate | 2016 | 6.98 | 6.93 | # per Ths. pop. | Annual |