Source
Central bank

Bank of Jamaica

International Reserves

USD 2.9 billion (2015)

International Monetary Fund (IMF), data retrieved January 2017

Gross Domestic Product - GDP

USD 14.6 billion (2017, estimate)

GDP (Purchasing Power Parity)

Intl$ 26.5 billion (2017, estimate)

Real GDP growth
2006 2007 2008 2009 2010 2011 2012
2.9% 1.4% -0.8% -3.4% -1.5% 1.4% -0.5%
2013 2014 2015 2016* 2017*    
0.2% 0.5% 0.9% 1.5% 2%    

*Estimate

GDP per capita - current prices

USD 5,119.5 (2017, estimate)

GDP per capita - PPP

Intl$ 9,299.6 (2017, estimate)

GDP (PPP) - share of world total
1980 1990 2000 2010 2017*
0.05% 0.05% 0.04% 0.03% 0.02%

*Estimate

 
 
Source
GDP - composition by sector
  • agriculture: 6.7% 
  • industry: 21.3% 
  • services: 72%

(2016 estimate)

Gross domestic expenditure on R&D; (% of GDP)

N/A

 

Inflation
2013 2014 2015 2016* 2017*
9.4% 8.3% 3.7% 4.4% 5.2%

*Estimate

Unemployment rate
2013 2014 2015 2016* 2017*
15.3% 14.2% 13.5% 12.8% 12.2%

*Estimate

Household saving rates

N/A

Public debt (General government gross debt as a % of GDP)
2013 2014 2015 2016 2017*
139.8% 136.8% 120.4% 118.9% 111.2%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2013 2014 2015 2016 2017*
0.1% -0.5% -0.3% -0.6% 0.3%

*Estimate

Government bond ratings

Standard & Poor's: B

Moody's: B3

Standard & Poor's / Moody's (Updated January 2017)

Market value of publicly traded shares
2013 2014 2015
N/A N/A N/A
Largest companies

N/A

 
 
Source
Current account balance

USD -0.5 billion (2017 estimate)​

Current account balance by percentage of GDP

-3.6% (2017 estimate)

Exports as percent of GDP (Exports of goods and services)

29.8% (2015)

Shares in world total merchandise exports

0.008% (2015)

 

Shares in world total commercial services export

0.06% (2015)

Total exports

USD 1.3 billion (2016 estimate)

Export commodities

Alumina, bauxite, sugar, rum, coffee, yams, beverages, chemicals, apparel, mineral fuels

Total imports

USD 3.8 billion (2016 estimate)

 
 
Source
Import commodities

Food and other consumer goods, industrial supplies, fuel, parts and accessories of capital goods, machinery and transport equipment, construction materials

Exports - major partners

US 24.4%, Canada 16.5%, Russia 9.3%, Netherlands 8.9%, Iceland 7.2%, UK 6.5% (2015)

Imports - major partners

US 32.6%, Venezuela 12.4%, China 12%, Trinidad and Tobago 11.1% (2015)

FDI inflows
2013 2014 2015
USD 595 million USD 591 million USD 794 million
FDI outflows
2013 2014 2015
USD -86 million USD -2 million USD 4 million
Value of cross-border M&A, by country of purchaser
2012 2013 2014 2015
N/A N/A USD 26.0 million N/A
Cross-border M&A deals worth over $3 billion completed in 2014

N/A

Cross-border M&A deals worth over $3 billion completed in 2015

N/A

Best countries for doing business

Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

Overall ranking: 67 out of 190 countries (2017)

Subcategories:

Starting a business: 12 out of 190 countries

Enforcing Contracts: 117 out of 190 countries

Registering Property: 123 out of 190 countries

Getting Credit: 16 out of 190 countries

Protecting Minority Investors: 63 out of 190 countries

Trading Across Borders: 131 out of 190 countries

Paying Taxes: 116 out of 190 countries

Dealing with Construction Permits: 75 out of 190 countries

Getting Electricity: 101 out of 190 countries

Resolving Insolvency: 38 out of 190 countries

Global competitiveness ranking

75 out of 138 countries

(2016-2017)

Index of Economic Freedom

Ranking: 48 / Score: 67.46 (Moderately free) (2016)

(100=totally free 0=totally repressed)

 
 
Source
Time zone

UTC-5

Total area

10,991 sq km

Capital

Kingston

Currency

Jamaican dollars (JMD)

Government type

constitutional parliamentary democracy and a Commonwealth realm

Languages

English, English patois

Religions

Protestant 64.8% (includes Seventh Day Adventist 12.0%, Pentecostal 11.0%, Other Church of God 9.2%, New Testament Church of God 7.2%, Baptist 6.7%, Church of God in Jamaica 4.8%, Church of God of Prophecy 4.5%, Anglican 2.8%, United Church 2.1%, Methodist 1.6%, Revived 1.4%, Brethren .9%, and Moravian .7%), Roman Catholic 2.2%, Jehovah's Witness 1.9%, Rastafarian 1.1%, other 6.5%, none 21.3%, unspecified 2.3% (2011 est.)

Total population
1990 2000 2010 2014* 2019**
2.362 million 2.582 million 2.741 million 2.798 million 2.871 million

*Estimate    **Forecast

 
 
Source
Urban population as % of total population
1960 1980 2000 2013
33.8% 47% 52% 54%
Population median age

24.9 years (2014 est.)

Population growth rate

0.69% (2014 est.)

Life expectancy

73.48 years (2014 estimate)

Adult literacy

87% (2011 estimate)

% of population living on less than $2 a day

5.9% (2004)

Inequality of wealth distribution (Gini index)

45.5 (2004)

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights: 2
Civil Liberties: 3 (2014)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

Fixed 8.9%   Mobile 100.4%
(2013)
(fixed-telephone subscribers and mobile-cellular subscribers)

Internet users as % of total population

37.80% (2013)

Cost of living - Mercer index(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Kingston 178th (2014)

CO2 emissions(Metric tons of CO2 per capita)

2.7 (2010)

World's Best Developed & Emerging Markets Banks

World's Best Internet Banks

World's Best Subcustodian Banks

World’s Best Foreign Exchange Providers

World's Best Banks By Region

World's Best Banks

2013

Best of…

Additional Awards