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) $30,053,192,134 (2019)
GDP Growth Rate (annual %) 0.7% (2019)
GDP Per Capita, PPP (current international) $10,193 (2019)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 136/196 (2019)

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 %) 3.91% (2019)
External debt stocks, total (DOD, current US$) $15,861,791,889 (2019)
Total tax rate (% of commercial profits) 35.1% (2019)
Real Interest Rate (5 year average %) 5.025% (2019)
Manufacturing, value added (% of GDP) 7.675% (2019)
Current Account Balance (BoP, current US$) ($287,575,331) (2018)
Click on a row to display its 5-year graph on the right.

Labor and Employment [1]

Labor Force, Total 1,502,399 (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 7.95% (2020)
Click on a row to display its 5-year graph on the right.

Trade [1]

Imports of goods and services (current US$) $8,404,894,685 (2019)
Exports of goods and services (current US$) $6,247,130,491 (2019)
Total Merchandise Trade (% of GDP) 0% (2019)
FDI, net inflows (BoP, current US$) $665,416,000 (2019)
Commercial Service Exports (current US$) $3,796,153,284 (2018)
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