Editing Economy of Jamaica

{{Short description|None}}
{{Redirect|Made in Jamaica|the album by Bob Sinclar|Made in Jamaica (album)}}
{{Use Jamaican English|date=March 2015}}
{{Use dmy dates|date=July 2017}}
{{Infobox economy
| country = Jamaica
| image = Downtown Kingston waterfront.jpg
| caption = 
| currency = [[Jamaican dollar]] (JMD, J$)
| years = 2032
1 April &ndash; 31 March
| organs = [[Caribbean Community|CARICOM
]], [[World Trade Organization|WTO]]
| group = {{plainlist|
*[[Developing country|Developing/Emerging]]<ref>{{cite web |url=https://www.imf.org/external/pubs/ft/weo/2019/01/weodata/weoselco.aspx?g=2200&sg=All+countries+%2f+Emerging+market+and+developing+economies |title=World Economic Outlook Database, April 2019 |publisher=[[International Monetary Fund]] |access-date=29 September 2019 |archive-date=10 October 2020 |archive-url=https://web.archive.org/web/20201010203013/https://www.imf.org/external/pubs/ft/weo/2019/01/weodata/weoselco.aspx?g=2200&sg=All+countries+%2F+Emerging+market+and+developing+economies |url-status=live }}</ref>
*Upper-middle income economy<ref>{{cite web |url=https://datahelpdesk.worldbank.org/knowledgebase/articles/906519-world-bank-country-and-lending-groups |title=World Bank Country and Lending Groups |publisher=[[World Bank]] |department=datahelpdesk.worldbank.org |access-date=29 September 2019 |archive-date=28 October 2019 |archive-url=https://web.archive.org/web/20191028223324/https://datahelpdesk.worldbank.org/knowledgebase/articles/906519-world-bank-country-and-lending-groups |url-status=live }}</ref>}}
| population = {{decrease}} 2,726,667 (2018)<ref>{{cite web |url=https://statinja.gov.jm/Demo_SocialStats/PopulationStats.aspx |archive-url=https://web.archive.org/web/20170328215514/http://statinja.gov.jm/Demo_SocialStats/PopulationStats.aspx |url-status=dead |archive-date=28 March 2017 |title=Population Statistics |publisher=[[Statistical Institute of Jamaica]] |website=statinja.gov.jm |access-date=3 December 2019 }}</ref>
| gdp = {{plainlist|
*{{increase}} $20.586 billion (nominal, 2024)<ref name="IMFWEOJM">{{cite web |url=https://www.imf.org/en/Publications/WEO/weo-database/2024/October/weo-report?c=253,343,558,&s=NGDP_RPCH,NGDPD,PPPGDP,NGDPDPC,PPPPC,PCPIPCH,LUR,GGXWDG_NGDP,&sy=1980&ey=2024&ssm=0&scsm=1&scc=0&ssd=1&ssc=0&sic=0&sort=country&ds=.&br=1 |title=World Economic Outlook Database, October 2024 |publisher=[[International Monetary Fund]] |access-date=January 24, 2025}}</ref>
*{{increase}} $33.775 billion ([[Purchasing power parity|PPP]], 2024)<ref name="IMFWEOJM"/>}}
| gdp rank = {{plainlist|
*[[List of countries by GDP (nominal)|118th (nominal, 2019)]]
*[[List of countries by GDP (PPP)|133rd (PPP, 2019)]]}}
| growth = {{plainlist|
*4.6%&nbsp;(2021) 5.2%&nbsp;(2022)
*2.6%&nbsp;(2023) 1.3%&nbsp;(2024)<ref name="IMFWEOJM"/>}}
| per capita = {{plainlist|
*{{increase}} $7,487 (nominal, 2024 est.)<ref name="IMFWEOJM"/>
*{{increase}} $12,283 ([[Purchasing power parity|PPP]], 2024 est.)<ref name="IMFWEOJM"/>}}
| per capita rank = {{plainlist|
*[[List of countries by GDP (nominal) per capita|97th (nominal, 2018)]]
*[[List of countries by GDP (PPP) per capita|109th (PPP, 2018)]]}}
| sectors = {{plainlist|
*agriculture: 7.5%
*industry: 21.3%
*services: 71.2%
*(2017 est.)<ref>{{cite web|url=http://www.indexmundi.com/jamaica/gdp_composition_by_sector.html|title=Jamaica GDP - composition by sector|publisher=IndexMundi|access-date=27 March 2018|archive-date=28 March 2018|archive-url=https://web.archive.org/web/20180328170120/https://www.indexmundi.com/jamaica/gdp_composition_by_sector.html|url-status=live}}</ref>}}
| inflation = 3.733% (2018)<ref name="IMFWEOJM"/>
| poverty = {{plainlist|
*17.1% (2016 est.)<ref name="CIAWFJM"/>
*29.7% on less than $5.50/day (2004)<ref>{{cite web |url=https://data.worldbank.org/indicator/SI.POV.UMIC?locations=JM |title=Poverty headcount ratio at $5.50 a day (2011 PPP) (% of population) - Jamaica |publisher=[[World Bank]] |website=data.worldbank.org |access-date=3 December 2019 |archive-date=3 December 2019 |archive-url=https://web.archive.org/web/20191203224554/https://data.worldbank.org/indicator/SI.POV.UMIC?locations=JM |url-status=live }}</ref>}}
| gini = {{decreasePositive}} 35 {{color|darkorange|medium}} (2016)<ref name="CIAWFJM">{{cite web |url=https://www.cia.gov/the-world-factbook/countries/jamaica/ |title=The World Factbook |publisher=[[Central Intelligence Agency]] |website=CIA.gov |access-date=3 December 2019 |archive-date=11 January 2021 |archive-url=https://web.archive.org/web/20210111023238/https://www.cia.gov/the-world-factbook/countries/jamaica |url-status=live }}</ref>
| hdi = {{plainlist|
*{{decrease}} 0.709 {{color|green|high}} (2021)<ref>{{cite web |url=http://hdr.undp.org/en/indicators/137506 |title=Human Development Index (HDI) |publisher=[[Human Development Report|HDRO (Human Development Report Office)]] [[United Nations Development Programme]] |website=hdr.undp.org |access-date=17 November 2022 |archive-date=19 March 2022 |archive-url=https://web.archive.org/web/20220319173759/http://hdr.undp.org/en/indicators/137506 |url-status=live }}</ref> ([[List of countries by Human Development Index|110th]])
*{{decrease}} 0.591 {{color|darkorange|medium}} [[List of countries by inequality-adjusted HDI|IHDI]] (2021)<ref>{{cite web |url=http://hdr.undp.org/en/content/table-3-inequality-adjusted-human-development-index-ihdi |title=Inequality-adjusted Human Development Index (IHDI) |publisher=[[Human Development Report|HDRO (Human Development Report Office)]] [[United Nations Development Programme]] |website=hdr.undp.org |access-date=17 November 2022 |archive-date=12 December 2020 |archive-url=https://web.archive.org/web/20201212055527/http://hdr.undp.org/en/content/table-3-inequality-adjusted-human-development-index-ihdi |url-status=dead }}</ref>}}
| labor = {{plainlist|
*{{increase}} 1,514,936 (2019)<ref>{{cite web |url=https://data.worldbank.org/indicator/SL.TLF.TOTL.IN?locations=JM |title=Labor force, total - Jamaica |publisher=[[World Bank]] |website=data.worldbank.org |access-date=3 December 2019}}</ref>
*{{increase}} 58.2% employment rate (2018)<ref>{{cite web |url=https://data.worldbank.org/indicator/SL.EMP.TOTL.SP.NE.ZS?locations=JM |publisher=[[World Bank]] |website=data.worldbank.org |access-date=3 December 2019 |title=Employment to population ratio, 15+, total (%) (National estimate) - Jamaica &#124; Data |archive-date=3 December 2019 |archive-url=https://web.archive.org/web/20191203224209/https://data.worldbank.org/indicator/SL.EMP.TOTL.SP.NE.ZS?locations=JM |url-status=live }}</ref>}}
| average gross salary = J$272,604 (£1,493/$2,498)<ref>{{cite web|url=http://www.salaryexplorer.com/salary-survey.php?&loctype=1&loc=106|title=Salary Survey in Jamaica|access-date=11 June 2015|archive-url=https://web.archive.org/web/20150614130406/http://www.salaryexplorer.com/salary-survey.php?&loctype=1&loc=106|archive-date=14 June 2015|url-status=dead}}</ref>
| average net salary = J$255,021 (£1,396/$2,337)
| occupations = 
| unemployment = {{steady}} 3.5% (October 2024)
| edbr = {{increase}} [[Ease of doing business index#Ranking|71st (easy, 2020)]]<ref>{{cite web |url=http://www.doingbusiness.org/data/exploreeconomies/jamaica |title=Ease of Doing Business in Jamaica |publisher=Doingbusiness.org |access-date=24 November 2017 |archive-date=1 December 2017 |archive-url=https://web.archive.org/web/20171201044501/http://www.doingbusiness.org/data/exploreeconomies/jamaica |url-status=live }}</ref>
| industries = [[tourism]], [[bauxite]]/[[alumina]], [[food processing]], light manufactures, [[rum]], [[cement]], [[metal]], [[paper]], [[chemical products]], [[telecommunications]]
| exports = {{increase}} $1.296 billion (2017 est.)<ref name="CIAWFJM"/>
| export-goods = alumina, bauxite, chemicals, coffee, mineral fuels, waste and scrap metals, sugar, yams
| export-partners = {{plainlist|
*{{flag|United States}} 39.1%
*{{flag|Netherlands}} 12.3%
*{{flag|Canada}} 8.4%

*(2017)<ref name="CIAWFJM"/>}}
| imports = {{increase}} $5.151 billion (2017 est.)<ref name="CIAWFJM"/>
| import-goods = food and other consumer goods, industrial supplies, fuel, parts and accessories of capital goods, machinery and transport equipment, construction materials
| import-partners = {{plainlist|
*{{flag|United States}} 40.6%
*{{flag|Colombia}} 6.8%
*{{flag|Japan}} 5.8%
*{{flag|China}} 5.8%
*{{flag|Trinidad and Tobago}} 4.7%

*(2017)<ref name="CIAWFJM"/>}}
| current account = {{decrease}} −$679 million (2017 est.)<ref name="CIAWFJM"/>
| FDI = {{plainlist|
*$15.03 billion (2016)<ref name="CIAWFJM"/>
*Abroad: $604 million (2016)<ref name="CIAWFJM"/>}}
| gross external debt = {{increaseNegative}} $14.94 billion (31 December 2017 est.)<ref name="CIAWFJM"/>
| debt = {{decreasePositive}} 101% of GDP (2017 est.)<ref name="CIAWFJM"/>
| balance = +0.5% (of GDP) (2017 est.)<ref name="CIAWFJM"/>
| revenue = 4.382 billion (2017 est.)<ref name="CIAWFJM"/>
| expenses = 4.314 billion (2017 est.)<ref name="CIAWFJM"/>
| aid = ''recipient:'' $102.7 million (1995)
| credit = {{plainlist|
*[[Standard & Poor's]]:<ref>{{cite web |title=Sovereigns rating list |publisher=Standard & Poor's |url=http://www.standardandpoors.com/ratings/sovereigns/ratings-list/en/eu/?subSectorCode=39 |access-date=26 May 2011 |archive-date=28 September 2011 |archive-url=https://web.archive.org/web/20110928234500/http://www.standardandpoors.com/ratings/sovereigns/ratings-list/en/eu/?subSectorCode=39 |url-status=live }}</ref><ref name=guardian>{{cite news |title=How Fitch, Moody's and S&P rate each country's credit rating |date=15 April 2011 |first1=Simon |last1=Rogers |first2=Ami |last2=Sedghi |work=The Guardian |url=https://www.theguardian.com/news/datablog/2010/apr/30/credit-ratings-country-fitch-moodys-standard |access-date=31 May 2011 |archive-date=1 August 2013 |archive-url=https://web.archive.org/web/20130801105234/http://www.theguardian.com/news/datablog/2010/apr/30/credit-ratings-country-fitch-moodys-standard |url-status=live }}</ref>
* B− (Domestic)
* B− (Foreign)
* B (T&C Assessment)
* Outlook: Stable
* [[Moody's]]:<ref name=guardian/>
* B3<br>Outlook: Stable
* [[Fitch Group|Fitch]]:<ref name=guardian/>
* B−
* Outlook: Positive}}
| reserves = {{increase}} $3.781 billion (31 December 2017 est.)<ref name="CIAWFJM"/>
| cianame = jamaica
| spelling = 
}}

The '''economy of Jamaica''' is heavily reliant on services, accounting for 71% of the country's GDP.<ref name = ciaworldfactbook>{{cite web|url=https://www.cia.gov/the-world-factbook/countries/jamaica/|title=CENTRAL AMERICA AND CARIBBEAN :: JAMAICA|website=The World Factbook|publisher=Central Intelligence Agency|access-date=30 November 2017|archive-date=11 January 2021|archive-url=https://web.archive.org/web/20210111023238/https://www.cia.gov/the-world-factbook/countries/jamaica|url-status=live}}</ref> [[Jamaica]] has natural resources and a climate conducive to agriculture and tourism. The discovery of bauxite in the 1940s and the subsequent establishment of the bauxite-alumina industry shifted Jamaica's economy from [[sugar]], and [[banana]]s.<ref name="m.state.gov">{{cite web|url=http://m.state.gov/md7600.htm|title=Jamaica (04/01)|access-date=11 June 2015|url-status=dead|archive-url=https://web.archive.org/web/20151004013147/http://m.state.gov/md7600.htm|archive-date=4 October 2015|df=dmy-all}}</ref>

Weakness in the financial sector, speculation, and lower levels of investment erode confidence in the productive sector. The government continues its efforts to raise new sovereign debt in local and international financial markets in order to meet its U.S. dollar debt obligations, to mop up liquidity to maintain the exchange rate and to help fund the current budget deficit.

The Jamaican government's economic policies encourage foreign investment in areas that earn or save foreign exchange, generate employment, and use local raw materials. The government also provides a wide range of incentives to investors.

[[Jamaican Free Zones|Free trade zones have stimulated investment]] in garment assembly, light manufacturing, and data entry by foreign firms. However, over the last 5 years{{When|date=March 2024}}, the garment industry has suffered from reduced export earnings, continued factory closures, and rising unemployment. The Government of Jamaica hopes to encourage economic activity through a combination of privatization, financial sector restructuring, reduced interest rates, and by boosting tourism and related productive activities.

== Economic history ==
Before independence, Jamaica's economy was largely focused on agriculture with the vast majority of the labor force engaged in the production of sugar, bananas, and tobacco.<ref name=":0">{{Cite book|title=Quarterly Digest of Statistics No. 2|author=Central Bureau of Statistics Jamaica B.W.I.|publisher=The Government Printer|year=1947|location=Duke Street, Kingston}}</ref> According to one study, 18th century Jamaica had the highest wealth inequality in the world, as a very small, slave-owning elite was extremely wealthy while the rest of the population lived on the edge of subsistence.<ref>{{Cite journal|last1=Burnard|first1=Trevor|last2=Panza|first2=Laura|last3=Williamson|first3=Jeffrey G.|date=October 2017|title=The Social Implications of Sugar: Living Costs, Real Incomes and Inequality in Jamaica c1774|journal=NBER Working Paper No. 23897 |doi=10.3386/w23897 |doi-access=free}}</ref><ref>{{Cite web|url=http://voxeu.org/article/wealth-poverty-and-inequality-colonial-jamaica|title=Sugar and slaves: Wealth, poverty, and inequality in colonial Jamaica|last1=Burnard|first1=Trevor|last2=Panza|first2=Laura|date=2017-12-06|website=VoxEU.org|access-date=2017-12-06|last3=Williamson|first3=Jeffrey|archive-date=23 November 2019|archive-url=https://web.archive.org/web/20191123044309/https://voxeu.org/article/wealth-poverty-and-inequality-colonial-jamaica|url-status=live}}</ref>

These products were mainly exported to the United Kingdom, Canada, and to the United States of America.<ref name=":0" /> Jamaica's trade relationships expanded substantially from 1938 to 1946, with total imports almost doubling from £6,485,000 to £12,452,000.<ref name=":0" /> After 1962, the Jamaican government pushed for economic growth and all sectors excluding bauxite/alumina, energy, and tourism had shrunk between 1998 and 1999. In 2000, Jamaica experienced its first year of positive growth since 1995 due to continued tight macroeconomic policies.<ref name="m.state.gov" />

Inflation fell from 25% in 1995 to single digits in 2000, reaching a multidecade low of 4.3% in 2004. Through periodic intervention in the market, the central bank also has prevented any abrupt drop in the exchange rate. The Jamaican dollar has been slipping, despite intervention, resulting in an average exchange rate of J$73.40 per US$1.00 and J136.2 per €1.00 (February 2011).<ref>{{cite web|url=http://www.oanda.com/convert/fxhistory|title=Historical Currency Converter - OANDA|website=www.oanda.com|access-date=12 June 2008|archive-date=20 July 2006|archive-url=https://web.archive.org/web/20060720101840/http://oanda.com/convert/fxhistory|url-status=live}}</ref> In addition, inflation has been trending upward since 2004 and is projected to once again reach a double digit rate of 12-13% through the year 2008 due to a combination of unfavorable weather damaging crops and increasing agricultural imports and high energy prices.<ref>[http://www.jamaicaobserver.com/magazines/Business/html/20080103T220000-0500_131002_OBS_JAMAICA_S_ECONOMIC_AND_FINANCIAL_MARKET_OUTLOOK_FOR_____.asp Jamaica's economic and financial market outlook for 2008 - JAMAICAOBSERVER.COM<!-- Bot generated title -->] {{webarchive|url=https://web.archive.org/web/20080930122439/http://www.jamaicaobserver.com/magazines/Business/html/20080103T220000-0500_131002_OBS_JAMAICA_S_ECONOMIC_AND_FINANCIAL_MARKET_OUTLOOK_FOR_____.asp |date=30 September 2008 }}</ref>

Over the last 30 years, real per capita GDP increased at an average of just one percent per year, making Jamaica one of the slowest growing developing countries in the world.

To reverse this trajectory, the Government of Jamaica embarked on a comprehensive and ambitious program of reforms for which it has garnered national and international support:  a four-year Extended Fund Facility (EFF)  by  the [[International Monetary Fund]] (IMF) providing  a  support package of US$932 million;  World Bank Group and the Inter-American Development Bank (IDB) programs providing  US$510 million each to facilitate the GoJ's economic reform agenda to stabilize the economy, reduce debt and create the conditions for growth and resilience.. In addition, the International Finance Corporation (IFC) and Multilateral Investment Guarantee Agency (MIGA) will continue to support private sector development.

The reform program is beginning to bear fruit: Institutional reforms and measures to improve the environment for the private sector have started to restore confidence in the Jamaican economy. Jamaica jumped 27 places to 58 among 189 economies worldwide in the 2015 Doing Business ranking, the country's credit rating has improved and the Government has successfully raised more than US$2 billion in the international capital in the markets in 2014 and 2015..

Despite some revival, economic growth is still low: the Jamaican Government is forecasting real gross domestic product (GDP) growth of 1.9 per cent for the fiscal year 2015/2016 and the country continues to be  confronted by serious social issues that predominantly affect youth, such as high levels of crime and violence and high unemployment. Jamaica, which had seen its poverty rate drop almost 20 percent over two decades, saw it increase by eight percent in a few years.

The unemployment rate in Jamaica is approximately  6.0% (April 2022, Statistical Institute of Jamaica), with youth unemployment more than twice the national rate, albeit trending downwards (15%). However, among Jamaica's assets are its skilled labor force and strong social and governance indicators.<ref>{{cite web|url=http://www.worldbank.org/en/country/jamaica/overview|title=Overview|access-date=16 January 2016|archive-date=25 August 2019|archive-url=https://web.archive.org/web/20190825054308/https://www.worldbank.org/en/country/jamaica/overview|url-status=live}}</ref>

==Primary industries==

===Agriculture===
Agricultural production is an important contributor to Jamaica's economy. However, it is vulnerable to extreme weather, such as [[hurricane]]s and to competition from neighbouring countries such as the USA. Other difficulties faced by farmers include thefts from the farm, known as [[praedial larceny]].<ref name="FAO">{{cite web |title=Praedial larceny in the Caribbean |url=http://www.fao.org/3/as086e/as086e.pdf |website=FAO: Subregional office for the Caribbean |access-date=4 June 2019 |archive-date=7 June 2019 |archive-url=https://web.archive.org/web/20190607003835/http://www.fao.org/3/as086e/as086e.pdf |url-status=live }}</ref>  Agricultural production accounted for 7.4% of GDP in 1997, providing employment for nearly a quarter of the country.<ref name="nationsencyclopedia.com">{{cite web|url=http://www.nationsencyclopedia.com/economies/Americas/Jamaica-AGRICULTURE.html|title=Jamaica Agriculture, Information about Agriculture in Jamaica|access-date=11 June 2015|archive-date=3 May 2015|archive-url=https://web.archive.org/web/20150503144933/http://www.nationsencyclopedia.com/economies/Americas/Jamaica-AGRICULTURE.html|url-status=live}}</ref> Jamaica's agriculture, together with forestry and fishing, accounted for about 6.6% of GDP in 1999. [[Sugar]] has been produced in Jamaica for centuries, it is the nation's dominant agricultural export.<ref name="nationsencyclopedia.com"/> Sugar is produced in nearly every [[parish]]. The production of raw sugar in the year 2000 was estimated at 175,000 tons, a decrease from 290,000 tons in 1978.<ref>{{cite web|url=http://www.nationsencyclopedia.com/Americas/Jamaica-AGRICULTURE.html|title=Agriculture - Jamaica - import, export, crops|access-date=11 June 2015|archive-date=4 May 2015|archive-url=https://web.archive.org/web/20150504210717/http://www.nationsencyclopedia.com/Americas/Jamaica-AGRICULTURE.html|url-status=live}}</ref>
 
Jamaican agriculture has been less prominent in GDP in the 2000s than other industries, hitting an all-time low between 2004 and 2008.<ref>{{cite web|url=https://trading-economics.com/jamaica/gdp-from-agriculture|title=Jamaica GDP from Agriculture|website=Trading Economics|access-date=29 November 2017}}{{Dead link|date=August 2019 |bot=InternetArchiveBot |fix-attempted=yes }}</ref> This may have been due to a reaction to increased competition as international trade policies were enacted. For example, as NAFTA was enacted in 1993, a significant amount of Caribbean exports to the United States diminished, being out competed by Latin American exports.<ref>{{cite web|url=https://www.ictsd.org/bridges-news/bridges/news/caribbean-basin-struggles-in-naftas-shadow-0|title=Caribbean Basin Struggles in NAFTA's Shadow|website=International Centre for Trade and Sustainable Development|publisher=International Centre for Trade and Sustainable Development Organization|access-date=30 November 2017|archive-url=https://web.archive.org/web/20171201030952/https://www.ictsd.org/bridges-news/bridges/news/caribbean-basin-struggles-in-naftas-shadow-0|archive-date=1 December 2017|url-status=dead}}</ref> Another example is the Banana Import Regime's 3rd phase, in which EU nations had first given priority in banana imports to previously colonized nations. Under pressure by the World Trade Organization, the EU policy was altered to provide a non-discriminatory trade agreement. Jamaica's banana industry was easily outpriced by American companies exporting Latin American goods.<ref>{{cite web|url=http://www.europarl.europa.eu/RegData/etudes/etudes/join/2010/433852/EXPO-INTA_ET(2010)433852_EN.pdf|title=The EU Banana Regime: Evolution And Implications of its Recent Changes|publisher=European Parliament|access-date=30 November 2017|archive-date=22 December 2016|archive-url=https://web.archive.org/web/20161222053958/http://www.europarl.europa.eu/RegData/etudes/etudes/join/2010/433852/EXPO-INTA_ET(2010)433852_EN.pdf|url-status=live}}</ref> Jamaica's agriculture industry is now bouncing back, growing from being 6.6% of GDP to 7.2%.<ref name = ciaworldfactbook/>

Sugar formed 7.1% of the exports in 1999 and Jamaica made up about 4.8% of the total production of sugar in the Caribbean. Sugar is also used for the production of by-products such as molasses, rum and some wallboard is made from [[bagasse]].

[[Banana]] production in 1999 was 130,000 tons. Bananas formed 2.4% of the exports in 1999 and Jamaica formed around 7.5% of the total production of banana in the Caribbean. Jamaica stopped exporting banana in 2008 after suffering from several years of hurricanes that devastated the plantations.

[[Coffee]] is mainly grown around the [[Blue Mountains (Jamaica)|Blue Mountains]] and in hilly areas. One type in particular, [[Jamaican Blue Mountain Coffee]], is considered among the best in the world because at those heights in the Blue Mountains, the cooler climate causes the berries to take longer to ripen and the beans develop more of the substances which on roasting give coffee its flavor. Coffee formed 1.9% of exports in 1999. The picking season lasts from August to March. The coffee is exported from [[Kingston, Jamaica|Kingston]].

[[Cocoa bean|Cocoa]] is grown throughout Jamaica and local sales absorb about 1/3 of the output to be made into instant drinks and confectionery. [[Citrus fruit]] is mainly grown in the central parts of Jamaica, particularly between the elevations of 1,000-2,500 feet. The picking season lasts from November to April. Two factories in [[Bog Walk]] produce fruit juices, canned [[fruit]], essential [[oil]]s and [[marmalade]]. [[Coconut]]s are grown on the northern and eastern coasts, which provide enough [[copra]] to supply factories to make butterine, [[margarine]], [[lard]], edible [[oil]] and laundry [[soap]].

[[Vanilla]] is also grown.

Other export crops are [[pimento]], [[ginger]], [[tobacco]], [[sisal]] and other fruit are exported. [[Rice]] is grown around swampy areas around the Black River & around Long Bay in Hanover and Westmoreland parishes for local consumption.

As tastes have changed in Jamaica in favor of more meat and [[convenience food|packaged food]] the national food import bill has grown to the point that it threatens the health of the economy. The government has responded by encouraging gardening and farming, a response which has had limited success. For example, the percentage of potatoes grown locally has increased, but imports of french fries have continued at a high level.<ref name=NYT80313>{{cite news|title=As Cost of Importing Food Soars, Jamaica Turns to the Earth|url=https://www.nytimes.com/2013/08/04/world/americas/as-cost-of-importing-food-soars-jamaica-turns-to-the-earth.html |archive-url=https://ghostarchive.org/archive/20220103/https://www.nytimes.com/2013/08/04/world/americas/as-cost-of-importing-food-soars-jamaica-turns-to-the-earth.html |archive-date=2022-01-03 |url-access=subscription |url-status=live|access-date=4 August 2013|newspaper=The New York Times|date=3 August 2013|author=Damien Cave}}{{cbignore}}</ref>

===Animal husbandry===

[[File:Cow patch 20230605 140614.jpg|thumb|Cows Grazing, Saint Ann Parish 2023]]
Pastures form a good percentage of the land in Jamaica. Many properties specialize in cattle rearing. Livestock holdings include 400,000 head of cattle, 440,000 goats and 180,000 pigs. Dairying has increased since the erection of a [[condensed milk]] factory at Bog Walk in 1940. Even so, the supply of dairy products is not enough for local requirements and there are large imports of [[powdered milk]], [[butter]] and [[cheese]].

===Fishing===

[[File:WhiteRiverVillage20221019 134112.jpg|thumb|left|White River Fishing Village is in Ocho Rios, St. Ann]]

The [[fishing industry]] grew during the 1900s, primarily from the focus on inland fishing. Several thousand fishermen make a living from fishing. The shallow waters and cays off the south coast are richer than the northern waters. Other fishermen live on the [[Pedro Bank|Pedro Cays]], {{convert|80|mi|km}} to the south of Jamaica.
Jamaica supplies about half of its fish requirements; major imports of frozen and salted fish are imported from the United States and Canada.

The total catch in 2000 was 5,676 tons, a decrease from 11,458 tons in 1997; the catch was mainly marine, with freshwater [[carp]], [[Barbel (fish)|barbel]], etc., crustaceans & molluscs.

===Forestry===

By the late 1890, only {{convert|185000|ha|acre|abbr=off}} of Jamaica's original {{convert|1000000|ha|acre|abbr=off}} of forest remained. Roundwood production was 881,000 cu m (31.1 million cu ft) in 2000. About 68% of the timber cut in 2000 was used as fuel wood while 32% was used for industrial use. The forests that once covered Jamaica now exist only in mountainous areas. They only supply 20% of the island timber requirements. The remaining forest is protected from further exploitation. Other accessible mountain areas are being reforested, mainly with [[pine]]s, mahoe and [[mahogany]].

===Mining===

[[File:Windalco, Alumina plant.jpg|thumb|Windalco, Alumina plant in the background (Kirkvine, Manchester)]]Jamaica was the third-leading producer of [[bauxite]] and [[alumina]] in 1998, producing 12.6 million tons of bauxite, accounting for 10.4% of world production, and 3.46 million tons of alumina, accounting for 7.4% of world production. 8,540 million tons of bauxite was mined in 2012 and 10,200 million tons of bauxite in 2011.<ref>{{cite web |title=Bauxite and Alumina |url=https://minerals.usgs.gov/minerals/pubs/commodity/bauxite/mcs-2012-bauxi.pdf |website=minerals.usgs.gov |access-date=19 November 2018 |date=January 2012 |archive-date=7 July 2017 |archive-url=https://web.archive.org/web/20170707190815/https://minerals.usgs.gov/minerals/pubs/commodity/bauxite/mcs-2012-bauxi.pdf |url-status=live }}</ref>	

Mining and quarrying made up 4.1% of the nation's gross domestic product in 1999. Bauxite and alumina formed 55.2% of exports in 1999 and are the second-leading money earner after tourism. Jamaica has reserves of over 2 billion tonnes, which are expected to last 100 years. Bauxite is found in the central parishes of St. Elizabeth, Manchester, Clarendon, St. Catherine, St. Ann, and Trelawny. There are four alumina plants and six mines.

Jamaica has deposits of several million tons of [[gypsum]] on the southern slopes of the Blue Mountains. Jamaica produced 330,441 tons of gypsum in the year 2000,<ref>{{cite web|url=http://www.nationsencyclopedia.com/Americas/Jamaica-MINING.html|title=Mining - Jamaica - export, sector|access-date=11 June 2015|archive-date=8 December 2014|archive-url=https://web.archive.org/web/20141208210547/http://www.nationsencyclopedia.com/Americas/Jamaica-MINING.html|url-status=live}}</ref> some of which was used in the local cement industry and in the manufacturing of building materials.

Other minerals present in Jamaica include [[marble]], [[limestone]], and [[silica]], as well as [[ore]]s of [[copper]], [[lead]], [[zinc]], [[manganese]] and [[iron]]. Some of these are worked in small quantities. [[Petroleum]] has been sought, but so far none has been found.

==Secondary Industries==

===Manufacturing===
The manufacturing sector is an essential contributor to the Jamaican economy. Though manufacturing accounted for 13.9% of GDP in 1999. Jamaican companies contribute many manufactures such as [[food]] processing; [[oil refining]]; produced [[chemical]]s, construction materials, [[plastic]] goods, [[paint]]s, [[pharmaceutical]]s, [[carton]]s, [[leather]] goods and [[cigar]]s & assembled [[electronics]], [[textile]]s and [[apparel]]. The garment industry is a major job employer for thousands of hundreds of locals and they formed 12.9% of exports in 1999 earning US$159 million. Chemicals formed 3.3% of the exports in 1999 earning US$40 million.

A portion of the bauxite mined on the island is processed into alumina before export.

An oil refinery is located near Kingston converts crude petroleum obtained from [[Venezuela]] into [[gasoline]] and other products. These are mainly for local use. The [[construction]] industry is growing due to new hotels and attractions being built for tourism. [[Construction]] and installation formed 10.4% of the GDP in 1999.

Manufactured goods were imported and formed 30.3% of the imports and cost US$877 million in 1999.

Since the launch of the Jamaican Logistics Hub initiative,<ref name="reuters.com"/><ref name="jamaicalogisticshub.com">{{cite web|url=http://jamaicalogisticshub.com/about/|title=jamaicalogisticshub.com|website=jamaicalogisticshub.com|access-date=12 April 2014|archive-url=https://web.archive.org/web/20140420174947/http://jamaicalogisticshub.com/about/|archive-date=20 April 2014|url-status=dead}}</ref> various economic zones have been proposed throughout the country to assemble goods from other parts of the world for distribution to the Americas.<ref name="jis.gov.jm"/>

==Tertiary industries==

===Tourism===
Tourism is tied with remittances as Jamaica's top source of revenue.<ref>{{cite web|url=https://www.cia.gov/the-world-factbook/countries/jamaica/|title=The World Factbook|access-date=11 June 2015|archive-date=11 January 2021|archive-url=https://web.archive.org/web/20210111023238/https://www.cia.gov/the-world-factbook/countries/jamaica|url-status=live}}</ref> The tourism industry earns over 50 percent of the country's total foreign exchange earnings and provides about one-fourth of all jobs in Jamaica.<ref>{{cite web|url=http://www.gttp.org/html/jamaica.html|title=GTTP: The Global Travel and Tourism Partnership|access-date=11 June 2015|url-status=dead|archive-url=https://web.archive.org/web/20080724182114/http://www.gttp.org/html/jamaica.html|archive-date=24 July 2008|df=dmy-all}}</ref> Most tourist activity is centered on the island's northern coast, including the communities of [[Montego Bay]], [[Ocho Rios]], and [[Port Antonio]], as well as in [[Negril]] on the island's western tip.

[[File:KFC 20221018 154801.jpg|thumb|left|KFC Draxhall]]
Some destinations include Ocho Rios, [[Green Grotto Caves]], Y.S. Falls and Appleton Estate.  Most of the tourist sites are landmarks as well as homes for many Jamaicans. Many of the most frequented tourist sites are located mainly by water such as rivers and beaches where fishermen make a living from seafood. One of the most famous beach towns in Jamaica is Ocho Rios, a located in the parish of Saint Ann on the north coast of Jamaica. It was once a fishing village but now attracts millions of tourists yearly. The site is popular today because of the food and culture that can be found there.

Another famous location in Jamaica that attracts millions yearly is [[Dunn's River Falls]], located in Ocho Rios; this waterfall is approximately 600 feet long and runs off into the sea. Around the location many hotels and restaurants are available and many street vendors sell food around the clock. Another well-known beach town is Negril, the party capital of the country. This beach town has many different factors to add to the night life.

===Logistics===

In April 2014, the Governments of Jamaica and China signed the preliminary agreements for the first phase of the Jamaican Logistics Hub (JLH) - the initiative that aims to position [[Kingston, Jamaica|Kingston]] as the fourth node in the global logistics chain, joining [[Rotterdam]], [[Dubai]] and [[Singapore]], and serving the Americas.<ref name="reuters.com">{{cite news|url=https://www.reuters.com/article/jamaica-china-ports-idUSL1N0MT0WL20140401|title=Jamaica signs deal for China-built cargo shipping hub|newspaper=Reuters|access-date=11 June 2015|date=April 2014|archive-date=16 October 2015|archive-url=https://web.archive.org/web/20151016000540/http://www.reuters.com/article/2014/04/01/jamaica-china-ports-idUSL1N0MT0WL20140401|url-status=live}}</ref> The Project, when completed, is expected to provide many jobs for Jamaicans, Economic Zones for multinational companies<ref name="jis.gov.jm">{{cite web|url=http://jis.gov.jm/proposed-caymanas-economic-zone-one-16/|title=Proposed Caymanas Economic Zone To Be One Of 16 - Jamaica Information Service|work=Jamaica Information Service|access-date=11 June 2015|date=2014-01-13|archive-date=23 November 2019|archive-url=https://web.archive.org/web/20191123044313/https://jis.gov.jm/proposed-caymanas-economic-zone-one-16/|url-status=live}}</ref> and much needed economic growth to alleviate the country's heavy [[debt-to-GDP ratio]]. Strict adherence to the IMF's refinancing programme and preparations for the JLH has favourably affected Jamaica's credit rating and outlook from the three biggest rating agencies.

===ICT/BPO===
Jamaica has made strides in developing its Information and Communications Technology (ICT) infrastructure. 

As the largest English speaking territory in the Caribbean, Jamaica is the region's leading contact centre location with over 87 information communications technology/business process outsourcing (ICT/BPO) companies operating in the country employing 44,000 full-time agents.<ref>{{cite web |url=http://www.jamaicatradeandinvest.org/jamaicahouse/doing-business/investing-in-jamaica/ict-bpo |title=WHY JAMAICA? |access-date=2014-04-18 |url-status=dead|archive-url=https://web.archive.org/web/20140419011624/http://www.jamaicatradeandinvest.org/jamaicahouse/doing-business/investing-in-jamaica/ict-bpo |archive-date=19 April 2014 |df=dmy-all }}</ref><ref>{{Cite web|last=Smith|first=Alecia|date=18 July 2021|title=Jobs Increase by 15% in BPO Sector – Jamaica Information Service|url=https://jis.gov.jm/jobs-increase-by-15-in-bpo-sector/|url-status=live|access-date=29 September 2021|website=jis.gov.jm|archive-url=https://web.archive.org/web/20210929081747/https://jis.gov.jm/jobs-increase-by-15-in-bpo-sector/ |archive-date=29 September 2021 }}</ref>

==Taxation/Tax Rates==
Jamaican tax rates are extremely favourable in world standards, the brackets are as follows:<ref name="jamaicatax.gov.jm">{{Cite web |url=http://www.jamaicatax.gov.jm/index.php/2012-05-14-21-27-44 |title=Tax Administration |access-date=12 April 2014 |archive-url=https://web.archive.org/web/20140413140422/http://www.jamaicatax.gov.jm/index.php/2012-05-14-21-27-44#inctaxrates |archive-date=13 April 2014 |url-status=dead|df=dmy-all }}</ref>

{| class="wikitable"
|-
! Band !! Personal Allowance (J$) !! Tax Rate
|-
| 1 (Lower) -Up to|| J$1,500,000 || 0%
|-
| 2 (Middle) - J$1,500,001-J$6,000,000 || J$1,500,000 || 25%
|-
| 3 (Upper) - J$6,000,000+ || J$0 || 30%
|}

Separate Tax Rates apply for foreign nationals.<ref name="jamaicatax.gov.jm"/>

== Economic Data ==
The following table shows the main economic indicators in 1980–2024. Inflation below 5% is in green.<ref>{{Cite web |title=Report for Selected Countries and Subjects |url=https://www.imf.org/en/Publications/WEO/weo-database/2024/October/weo-report?c=253,343,558,&s=NGDP_RPCH,NGDPD,PPPGDP,NGDPDPC,PPPPC,PCPIPCH,GGXWDG_NGDP,&sy=1980&ey=2024&ssm=0&scsm=1&scc=0&ssd=1&ssc=0&sic=0&sort=country&ds=.&br=1 |access-date=2025-01-24 |website=IMF |language=en}}</ref>
{{static row numbers}}{{sticky header}}
{| class="wikitable sortable sticky-header" style="text-align:center;"
!Year
!GDP <br /><small>(in bil. US$ PPP)</small>
!GDP per capita <br /><small>(in US$ PPP)</small>
!GDP <br /><small>(in bil. US$ nominal)</small>
!GDP growth <br /><small>(real)</small>
!Inflation rate <br /><small>(in Percent)</small>
!Unemployment <br /><small>(in Percent)</small>
!Government debt <br /><small>(in % of GDP)</small>
|-
|1980
|6.5
|3,089
|2.6
| {{Decrease}}−4.0
|{{IncreaseNegative}}18.0
|27.3
|n/a
|-
|1981
|{{Increase}}7.5
|{{Increase}}3,469
|{{Increase}}2.8
|{{Increase}}4.4
|{{IncreaseNegative}}9.2
|{{decreasePositive}}25.9
|n/a
|-
|1982
|{{Increase}}8.2
|{{Increase}}3,733
|{{Increase}}3.2
|{{Increase}}3.1
|{{IncreaseNegative}}6.8
|{{IncreaseNegative}}27.6
|n/a
|-
|1983
|{{Increase}}8.8
|{{Increase}}3,961
|{{Decrease}}2.9
|{{Increase}}4.2
|{{IncreaseNegative}}16.7
|{{decreasePositive}}26.4
|n/a
|-
|1984
|{{Increase}}9.2
|{{Increase}}4,134
|{{Decrease}}2.1
|{{Increase}}1.0
|{{IncreaseNegative}}31.3
|{{decreasePositive}}25.5
|n/a
|-
|1985
|{{Increase}}9.4
|{{Increase}}4163
|{{Decrease}}2.0
| {{Decrease}}−0.9
|{{IncreaseNegative}}29.7
|{{decreasePositive}}25.0
|n/a
|-
|1986
|{{Increase}}10.3
|{{Increase}}4,504
|{{Increase}}2.4
|{{Increase}}7.0
|{{IncreaseNegative}}24.4
|{{decreasePositive}}23.7
|n/a
|-
|1987
|{{Increase}}11.4
|{{Increase}}4,935
|{{Increase}}2.7
|{{Increase}}7.7
|{{IncreaseNegative}}11.2
|{{decreasePositive}}21.0
|n/a
|-
|1988
|{{Decrease}}11.3
|{{Decrease}}4,876
|{{Increase}}3.2
| {{Decrease}}−4.0
|{{IncreaseNegative}}8.2
|{{decreasePositive}}19.1
|n/a
|-
|1989
|{{Increase}}12.3
|{{Increase}}5,295
|{{Increase}}3.7
|{{Increase}}4.7
|{{IncreaseNegative}}16.1
|{{decreasePositive}}15.2
|n/a
|-
|1990
|{{Increase}}13.4
|{{Increase}}5,662
|{{Increase}}4.7
|{{Increase}}4.9
|{{IncreaseNegative}}24.8
|{{IncreaseNegative}}15.7
|n/a
|-
|1991
|{{Increase}}14.0
|{{Increase}}5,863
|{{Decrease}}4.3
|{{Increase}}0.8
|{{IncreaseNegative}}51.0
|{{decreasePositive}}15.4
|n/a
|-
|1992
|{{Increase}}14.7
|{{Increase}}6,117
|{{steady}}4.3
|{{Increase}}2.8
|{{IncreaseNegative}}77.3
|{{IncreaseNegative}}15.7
|n/a
|-
|1993
|{{Increase}}15.4
|{{Increase}}6,348
|{{Increase}}5.4
|{{Increase}}2.2
|{{IncreaseNegative}}21.6
|{{IncreaseNegative}}16.3
|n/a
|-
|1994
|{{Increase}}16.0
|{{Increase}}6,548
|{{Increase}}5.5
|{{Increase}}1.9
|{{IncreaseNegative}}35.5
|{{decreasePositive}}15.4
|n/a
|-
|1995
|{{Increase}}16.7
|{{Increase}}6,792
|{{Increase}}6.5
|{{Increase}}2.5
|{{IncreaseNegative}}19.9
|{{IncreaseNegative}}16.2
|n/a
|-
|1996
|{{Increase}}17.1
|{{Increase}}6,868
|{{Increase}}7.4
|{{Increase}}0.2
|{{IncreaseNegative}}26.4
|{{decreasePositive}}16.0
|n/a
|-
|1997
|{{Decrease}}17.1
|{{Decrease}}6,805
|{{Increase}}8.4
| {{Decrease}}−1.6
|{{IncreaseNegative}}9.7
|{{IncreaseNegative}}16.5
|n/a
|-
|1998
|{{steady}}17.1
|{{Decrease}}6,732
|{{Increase}}8.8
| {{Decrease}}−1.2
|{{IncreaseNegative}}8.6
|{{decreasePositive}}15.5
|n/a
|-
|1999
|{{Increase}}17.5
|{{Increase}}6,829
|{{Increase}}8.9
|{{Increase}}1.0
|{{IncreaseNegative}}6.0
|{{IncreaseNegative}}15.7
|82.7
|-
|2000
|{{Increase}}18.0
|{{Increase}}6,973
|{{Increase}}9.1
|{{Increase}}0.8
|{{IncreaseNegative}}8.1
|{{decreasePositive}}15.5
|{{IncreaseNegative}}91.8
|-
|2001
|{{Increase}}18.6
|{{Increase}}7,158
|{{Increase}}9.2
|{{Increase}}1.3
|{{IncreaseNegative}}6.9
|{{decreasePositive}}15.0
|{{IncreaseNegative}}108.0
|-
|2002
|{{Increase}}19.1
|{{Increase}}7,277
|{{Increase}}9.7
|{{Increase}}0.7
|{{IncreaseNegative}}7.0
|{{decreasePositive}}14.2
|{{IncreaseNegative}}118.4
|-
|2003
|{{Increase}}20.2
|{{Increase}}7,665
|{{Decrease}}9.4
|{{Increase}}3.7
|{{IncreaseNegative}}10.1
|{{decreasePositive}}11.8
|{{IncreaseNegative}}123.2
|-
|2004
|{{Increase}}21.0
|{{Increase}}7,947
|{{Increase}}10.2
|{{Increase}}1.3
|{{IncreaseNegative}}13.5
|{{IncreaseNegative}}12.2
|{{decreasePositive}}119.9
|-
|2005
|{{Increase}}21.8
|{{Increase}}8,239
|{{Increase}}11.2
|{{Increase}}0.9
|{{IncreaseNegative}}15.1
|{{decreasePositive}}11.2
|{{IncreaseNegative}}124.7
|-
|2006
|{{Increase}}23.1
|{{Increase}}8,709
|{{Increase}}11.9
|{{Increase}}2.9
|{{IncreaseNegative}}8.5
|{{decreasePositive}}10.3
|{{decreasePositive}}117.1
|-
|2007
|{{Increase}}24.1
|{{Increase}}9,042
|{{Increase}}12.9
|{{Increase}}1.4
|{{IncreaseNegative}}9.3
|{{decreasePositive}}9.9
|{{decreasePositive}}114.5
|-
|2008
|{{Increase}}24.4
|{{Increase}}9,108
|{{Increase}}13.7
| {{Decrease}}−0.8
|{{IncreaseNegative}}22.0
|{{IncreaseNegative}}10.6
|{{IncreaseNegative}}127.0
|-
|2009
|{{Decrease}}23.7
|{{Decrease}}8,821
|{{Decrease}}12.1
| {{Decrease}}−3.4
|{{IncreaseNegative}}9.6
|{{IncreaseNegative}}11.4
|{{IncreaseNegative}}141.9
|-
|2010
|{{Decrease}}23.6
|{{Decrease}}8,769
|{{Increase}}13.2
| {{Decrease}}−1.4
|{{IncreaseNegative}}12.6
|{{IncreaseNegative}}12.4
|{{decreasePositive}}141.4
|-
|2011
|{{Increase}}24.5
|{{Increase}}9,053
|{{Increase}}14.4
|{{Increase}}1.4
|{{IncreaseNegative}}7.5
|{{steady}}12.4
|{{decreasePositive}}139.5
|-
|2012
|{{Increase}}24.8
|{{Increase}}9,151
|{{Increase}}14.8
| {{Decrease}}−0.5
|{{IncreaseNegative}}6.9
|{{IncreaseNegative}}13.9
|{{IncreaseNegative}}143.9
|-
|2013
|{{Increase}}25.3
|{{Increase}}9,316
|{{Decrease}}14.2
|{{Increase}}0.2
|{{IncreaseNegative}}9.4
|{{IncreaseNegative}}15.3
|{{decreasePositive}}138.7
|-
|2014
|{{Increase}}25.9
|{{Increase}}9,525
|{{Decrease}}13.9
|{{Increase}}0.6
|{{IncreaseNegative}}8.3
|{{decreasePositive}}13.8
|{{decreasePositive}}137.9
|-
|2015
|{{Increase}}26.3
|{{Increase}}9,683
|{{Increase}}14.2
|{{Increase}}0.9
|{{Increase}}3.7
|{{decreasePositive}}13.5
|{{decreasePositive}}121.9
|-
|2016
|{{Increase}}27.0
|{{Increase}}9,914
|{{Decrease}}14.1
|{{Increase}}1.5
|{{Increase}}2.4
|{{decreasePositive}}13.2
|{{decreasePositive}}113.7
|-
|2017
|{{Increase}}27.7
|{{Increase}}10,144
|{{Increase}}14.8
|{{Increase}}0.7
|{{Increase}}4.4
|{{decreasePositive}}11.7
|{{decreasePositive}}101.2
|-
|2018
|{{Increase}}28.3
|{{Increase}}10,363
|{{Increase}}15.6
|{{Increase}}1.8
|{{Increase}}3.7
|{{decreasePositive}}9.1
|{{decreasePositive}}94.4
|-
|2019
|{{Increase}}28.5
|{{Increase}}10,412
|{{Increase}}15.8
|{{Increase}}1.0
|{{Increase}}3.9
|{{decreasePositive}}7.7
|{{decreasePositive}}94.3
|-
|2020
|{{Decrease}}25.5
|{{Decrease}}9,298
|{{Decrease}}13.9
| {{Decrease}}−9.9
|{{IncreaseNegative}}5.2
|{{IncreaseNegative}}10.2
|{{IncreaseNegative}}109.7
|-
|2021
|{{Increase}}27.2
|{{Increase}}9,917
|{{Increase}}14.7
|{{Increase}}4.6
|{{IncreaseNegative}}5.9
|{{decreasePositive}}8.4
|{{decreasePositive}}94.2
|-
|2022
|{{Increase}}30.6
|{{Increase}}11,167
|{{Increase}}17.0
|{{Increase}}5.2
|{{IncreaseNegative}}10.3
|{{decreasePositive}}6.3
|{{decreasePositive}}77.0
|-
|2023
|{{Increase}}32.6
|{{Increase}}11,856
|{{Increase}}19.3
|{{Increase}}2.6
|{{IncreaseNegative}}6.5
|{{decreasePositive}}4.4
|{{decreasePositive}}73.3
|-
|2024
|{{Increase}}33.8
|{{Increase}}12,283
|{{Increase}}20.6
|{{Increase}}1.3
|{{IncreaseNegative}}5.8
|n/a
|{{decreasePositive}}67.9
|}

==References==
{{reflist}}

== Further reading ==
* Bahl, R., & Wallace, S. (2007). [https://www.jstor.org/stable/40913159 From income tax to consumption tax? The case of Jamaica] {{Webarchive|url=https://web.archive.org/web/20200731230925/https://www.jstor.org/stable/40913159 |date=31 July 2020 }}. ''FinanzArchiv/Public Finance Analysis'', 396-414.

==External links==
* [http://wits.worldbank.org/CountryProfile/Country/JAM/Year/2012/Summary World Bank Trade Summary Statistics Jamaica 2012] {{Webarchive|url=https://web.archive.org/web/20140413145125/http://wits.worldbank.org/CountryProfile/Country/JAM/Year/2012/Summary |date=13 April 2014 }}
* [http://www.cepr.net/documents/Jamaica_04-2015.pdf Partners in Austerity: Jamaica, the United States and the International Monetary Fund], from the [[Center for Economic and Policy Research]], April 2015
{{Jamaica topics}}
{{Caribbean in topic|Economy of}}
{{Americas topic|Economy of}}
{{World Trade Organization}}

{{DEFAULTSORT:Economy Of Jamaica}}
[[Category:Economy of Jamaica| ]]
[[Category:World Trade Organization member economies|Jamaica]]