General Information

The country's economy is driven by tourism, which brings in annual revenues of US$2 billion, as well as export sales of alumina and bauxite, which concentrate 41% of exports.
(Source: Bank of Jamaica)

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

USD 14,359

millions

0.3%

 

USD 5,048

 

Economic Statistics (years 2014 - forecast 2019)

National Accounts 2014 2015 2016 2017 f.2018 f.2019
             
GDP growth (%) 0.6% 0.8% 1.5% 1.0% 1.7% 1.8%
Nominal GDP (USD millions) 13,864 14,143 14,002 14,359 15,256 15,845
GDP per Head (USD) 4,953 5,026 4,949 5,048 5,334 5,511
Inflation (%) 6.4% 3.7% 1.7% 5.2% 4.2% 4.0%
Fiscal Balance (% GDP) -0.5% -0.3% -0.2% 0.1% -0.2% 0.4%
General Govt. gross debt (% GDP) 139.7% 121.3% 113.9% 104.1% 99.3% 97.5%
   

Trade Statistics

 

Foreign Trade - Composition        
           
Exports     Imports    
           
By countries     By countries  
US 43.9%   US   40.7%
Netherlands 13.8%   Colombia   6.8%
Canada 9.5%   Japan   5.9%
Iceland 4.1%   China   5.8%
           
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) 2014 2015 2016 2017 f.2018 f.2019
             
Exports of Goods 1,449 1,255 1,195 1,310 1,501 1,591
Exports growth (%) -8.3% -13.4% -4.8% 9.6% 14.6% 6.0%
Imports of Goods 5,208 4,449 4,169 5,106 5,482 5,609
Imports growth (%) -4.6% -14.6% -6.3% 22.5% 7.4% 2.3%
Foreign Trade (% GDP) 48% 40% 38% 45% 46% 45%
             
Current Account Balance -1,114 -430 -103 -386 -686 -695
% GDP -8.0% -3.0% -0.7% -2.7% -4.5% -4.4%
Foreign Direct Investment 582 925 790 600 625 625
% GDP 4.2% 6.5% 5.7% 4.2% 4.1% 3.9%
   

 

Disclaimer

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