General Information

The country's economy is driven by tourism, which brings in annual revenues of US$2,900 billion, as well as export sales of alumina and bauxite, which concentrate 56% of exports.
(Source: Bank of Jamaica)

Gross Domestic Product (GDP) % of regional GDP GDP per head

USD 15,742

millions

0.3%

 

USD 5,830

 

Economic Statistics (years 2016 - forecast 2021)

National Accounts 2016 2017 2018 2019 f.2020 f.2021
             
GDP growth (%) 1.4% 1.0% 1.9% 0.9% -5.6% 2.4%
Nominal GDP (USD millions) 14,027 14,827 15,541 15,742 15,082 15,633
GDP per Head (USD) 5,195 5,491 5,756 5,830 5,586 5,790
Inflation (%) 2.3% 4.4% 3.7% 3.9% 4.2% 4.5%
Fiscal Balance (% GDP) -0.2% 0.5% 1.2% 0.0% -5.4% -1.3%
General Govt. gross debt (% GDP) 120.2% 106.1% 98.4% 90.9% 97.9% 92.9%
   

Trade Statistics

 

Foreign Trade - Composition        
           
Exports     Imports    
           
By countries     By countries  
US 31.8%   US   50.1%
Netherlands 10.0%   Egypt   15.8%
Canada 9.5%   Colombia   7.2%
Iceland 5.3%   China   6.1%
           
By products     By products  
Fuels and mining prod. 60.5%   Manufactures 44.4%
Agricultural products 22.1%   Fuels and mining prod. 36.6%
Manufactures 15.8%   Agricultural products 17.2%
   
Balance of Payments (USD millions) 2016 2017 2018 2019 f.2020 f.2021
             
Exports of Goods 1,188 1,351 1,979 1,968 1,701 1,912
Exports growth (%) -5.3% 13.7% 46.5% -0.6% -13.6% 12.4%
Imports of Goods 4,071 4,903 5,438 5,500 3,872 4,466
Imports growth (%) -8.5% 20.4% 10.9% 1.1% -29.6% 15.3%
Foreign Trade (% GDP) 37% 42% 48% 47% 37% 41%
             
Current Account Balance -41 -382 -286 -412 -316 1,101
% GDP -0.3% -2.6% -1.8% -2.6% -2.1% -1.2%
Foreign Direct Investment 927 890 775 1,000 100 1,200
% GDP 6.6% 6.0% 5.0% 6.4% 0.7% 7.7%
   

 

Disclaimer

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