Jamaica By The Numbers

Jamaica By The Numbers

The Economy

  • GDP - US$14 billion (2016)
  • GDP per capita - US$4,868 (2016)
  • Goods production as a % of GDP – 24.7% (2016)
  • Services as a % of GDP – 79.3% (2016)
  • Average Exchange Rate - JMD$128.44 to US$1 (2017)
  • Commercial Lending Rate- 12% (2017)
  • Inflation 1.7% (2016)
  • Unemployment Rate- 11.2% (2017)

 

Performance

  • Foreign Direct Investment (FDI) stock - US$ 15 billion (2016)
  • FDI received in 2015 - US$923 million (2016)
  • Export of Goods - US$ 1.2 billion (2016)
  • Imports – US$4.751 billion (2016)
  • Visitor Arrivals – 4.4 million (2017)
  • Visitor Expenditure – US$3 billion (2017)

 

Population, Workforce and Education 

  •         Population - 2.8 million (2017)
  •          Labour force - 1.3 million (2017)
  •       Enrolment in tertiary institutions -  268,694 (2016)
  •          Output of professionals, officials and technicians in 2016 – 15,268
  •          Output of skilled workers in 2016 – 60,720


International Benchmarking 

  •        World Bank Ease of  Doing Business (2017): 70 of 190
  •          Global Competitiveness Index (2017): 70 of 137
  •          A.T. Kearney Global Services Location Index (2017) : 43 of 55 

 

Jamaica outperforms the Caribbean and Latin America region in the following Doing Business indicators:

Indicator

Jamaica Rank

Latin America and the Caribbean Rank
(Regional Average)

Starting a business

20

86

Dealing with construction permits

26

74

Protecting Investors

71

105 

Resolving Insolvency

59

113

(Sources: Statistical Institute of Jamaica (STATIN), Economic and Social Survey of Jamaica 2014, Bank of Jamaica and the World Bank Group's Doing Business Report 2015)