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 15,742millions |
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% |
![]() |