Jamaica By The Numbers

Jamaica By The Numbers

The Economy

  • GDP - J$1,637 billion
  • GDP per capita - US$4,989
  • Goods production as a % of GDP – 24.7%
  • Services as a % of GDP – 79.3%
  • Average Exchange Rate - JMD$126.0 to US$1 (June 2016)
  • Interest Rates - 5.25% (6-month weighted average treasury yield as at Oct. 2015)
  • Inflation 3.7% (2015)

 

Trade & Investment

  • Foreign Direct Investment (FDI) stock - US$ 14.1 billion
  • FDI received in 2015 - US$794 million 
  • Export of Goods - US$ 1.2 billion
  • Exports as a % of GDP – 10.6%
  • Visitor Arrivals – 3,691,744
  • Visitor Expenditure – US$2,380.8 million

 

Population, Workforce and Education 

  •         Population - 2.725 million
  •          Labour force - 1.3 million
  •          Minimum wage – J$6,200/week
  •          Trained labour force  – 25.6%
  •          Enrolment in tertiary institutions -  264,873
  •          Output of professionals, officials and technicians in 2015 – 15,004
  •          Output of skilled workers in 2015 – 68,500 


International Benchmarking 

  •        World Bank Ease of  Doing Business (2016): 64 of 189
  •          Global Competitiveness Index (2016): 86 of 140
  •          Logistics Performance Index (2016) : 119 of 160
  •          Global Innovation Index (2015) : 96 of 141
  •          Global ICT Development Index (2015): 105 of 167
  •          A.T. Kearney Global Services Location Index (2016) : 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)