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 14,809

millions

0.3%

 

USD 5,107

 

Economic Statistics (years 2015 - forecast 2020)

National Accounts 2015 2016 2017 2018 f.2019 f.2020
             
GDP growth (%) 0.9% 0.9% 0.5% 1.8% 1.6% 1.4%
Nominal GDP (USD millions) 14,253 13,765 14,118 14,809 15,252 15,772
GDP per Head (USD) 4,915 4,747 4,868 5,107 5,259 5,439
Inflation (%) 3.7% 2.3% 4.4% 3.7% 3.3% 4.0%
Fiscal Balance (% GDP) -0.3% -0.2% 0.5% 0.6% 0.3% -0.5%
General Govt. gross debt (% GDP) 122.8% 123.5% 111.4% 102.9% 98.7% 97.0%
   

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) 2015 2016 2017 2018 f.2019 f.2020
             
Exports of Goods 1,255 1,193 1,306 1,830 1,922 2,238
Exports growth (%) -13.4% -4.9% 9.5% 40.1% 5.0% 16.4%
Imports of Goods 4,450 4,183 5,150 5,701 5,792 5,855
Imports growth (%) -14.6% -6.0% 23.1% 10.7% 1.6% 1.1%
Foreign Trade (% GDP) 40% 39% 46% 51% 51% 51%
             
Current Account Balance -431 -168 -713 -719 -734 -490
% GDP -3.0% -1.2% -5.1% -4.9% -4.8% -3.1%
Foreign Direct Investment 925 927 887 850 1,000 800
% GDP 6.5% 6.7% 6.3% 5.7% 6.6% 5.1%
   

 

Disclaimer

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