Economic Trivia

Jamaica is of the pioneering members of the CARICOM trade bloc.

Trade Source: United Nations Comtrade
Note: Top 3 trade partners are calculated by imports + exports.

Top 3 Trade Partners (2019): United States, China, and Colombia
Top 3 Exported Goods (2019): Inorganic Chemicals , Oil & Mineral Fuels, and Beverages

Top Industries Source: CIA World Factbook

Tourism; Bauxite/Alumina; Agro-Processing; Light Manufactures

Gross Domestic Product (GDP) [1]

GDP, PPP (current international) $27,306,622,453 (2020)
GDP Growth Rate (annual %) -10.2% (2020)
GDP Per Capita, PPP (current international) $9,222 (2020)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 139/197 (2020)

GDP Composition %

Note: GDP composition percentage may exceed 100. Manufacturing is included in the Industry figures and is also reported separately because it plays a critical role in many economies.

Economic Indicators [1]

Inflation, consumer prices (annual %) 5.227% (2020)
External debt stocks, total (DOD, current US$) $15,861,791,889 (2019)
Total tax rate (% of commercial profits) 35.1% (2019)
Real Interest Rate (5 year average %) 7.973% (2020)
Manufacturing, value added (% of GDP) 7.953% (2020)
Current Account Balance (BoP, current US$) ($318,538,084) (2019)
Click on a row to display its 5-year graph on the right.

Labor and Employment [1]

Labor Force, Total 1,457,011 (2020)
Employment in Agriculture (% of total employment) 15.693% (2020)
Employment in Industry (% of total employment) 16.227% (2020)
Employment in Services (% of total employment) 68.08% (2020)
Unemployment Rate 8.4% (2020)
Click on a row to display its 5-year graph on the right.

Trade [1]

Imports of goods and services (current US$) $7,192,753,306 (2020)
Exports of goods and services (current US$) $5,234,905,127 (2020)
Total Merchandise Trade (% of GDP) 40.485% (2020)
FDI, net inflows (BoP, current US$) $665,415,555 (2019)
Commercial Service Exports (current US$) $4,304,832,851 (2019)
Click on a row to display its 5-year graph on the right.

Economic Snapshot [1]

Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.

How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Jamaica’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.

Due to unavailable data the following indicators have been omitted:
  • Exports
  • FDI, net inflows
  • GDP Growth Rate
  • GDP Per Capita
  • Inflation
  • Unemployment

Sources

  1. The World Bank