Jamaica - Economic Forecasts - 2018-2020 Outlook

This page has economic forecasts for Jamaica including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Jamaica economy.


Overview Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
GDP Growth Rate -0.40 1 0.9 1.2 1.3 1.3 percent
Unemployment Rate 9.70 10 10 10.5 8.4 12 percent
Inflation Rate 3.20 3.5 3.9 4 4.2 4.1 percent
Interest Rate 2.00 2 2 2 2 2.5 percent
Balance of Trade -716957.17 -1518000 -1615000 -1663500 -2162500 -2460000 USD Thousand
Government Debt to GDP 103.30 95 95 92 92 90 percent
MARKETS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Currency 136.06
 137 137 138 139 142
Stock Market 360332.03
points		 325231 320913 316628 312442 296164
GDP Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
GDP Growth Rate -0.40
percent		 1 0.9 1.2 1.3 1.3
GDP Annual Growth Rate 1.40
percent		 1.8 1.7 2 2.2 2.3
GDP 14.77
USD Billion		 15 15 15.8 15.8 16.2
GDP per capita 4798.21
USD		 5050 5050 5200 5200 5350
GDP per capita PPP 8193.60
USD		 8220 8220 8320 8320 8450
Gdp Constant Prices 192144.00
USD Million		 188246 196327 195987 194328 205060
Gdp From Agriculture 13928.00
USD Million		 12565 13074 14207 14218 13655
Gdp From Construction 14568.00
USD Million		 13287 14865 14859 12682 15527
Gdp From Manufacturing 16508.00
USD Million		 17064 16690 16838 16250 17432
Gdp From Mining 4850.00
USD Million		 3824 4402 4947 3901 4597
Gdp From Public Administration 22801.00
USD Million		 25850 24099 23257 24916 25171
Gdp From Services 33319.00
USD Million		 31801 34718 33985 33697 36263
Gdp From Transport 20598.00
USD Million		 21075 21295 21010 21995 22242
Gdp From Utilities 6018.00
USD Million		 6273 6122 6138 6340 6395
LABOUR Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Unemployment Rate 9.70
percent		 10 10 10.5 8.4 12
Youth Unemployment Rate 22.40
percent		 21.7 21.7 21.3 21.3 20
Population 2.73
Million		 2.73 2.73 2.73 2.73 2.73
Unemployed Persons 131100.00
 128000 128000 123000 123000 120000
Labor Force Participation Rate 64.50
percent		 64.62 64.39 64.24 64.39 64.38
Employed Persons 1217300.00
 1210000 1210000 1220000 1220000 1230000
Employment Rate 90.30
percent		 90.55 90.74 91.25 91.6 92.67
PRICES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Inflation Rate 3.20
percent		 3.5 3.9 4 4.2 4.1
Inflation Rate Mom 1.00
percent		 1.3 1.4 1.3 1.4 1.2
Food Inflation 2.60
percent		 3.5 3.3 3.2 3.1 3.4
Cpi Housing Utilities 247.90
Index Points		 243 248 257 250 270
Cpi Transportation 215.20
Index Points		 216 218 218 222 237
Consumer Price Index Cpi 250.40
Index Points		 254 258 258 258 281
MONEY Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Interest Rate 2.00
percent		 2 2 2 2 2.5
Deposit Interest Rate 3.60
percent		 3.6 3.6 3.6 3.6 4.1
Money Supply M1 225973.63
JMD Million 		228729 234843 242144 248907 315450
Money Supply M2 496899.21
JMD Million 		506280 523749 541842 559332 723562
Central Bank Balance Sheet 668907.46
JMD Million 		664188 669932 671964 673690 676979
Foreign Exchange Reserves 3351.99
USD Million		 3470 3490 3500 3540 3750
TRADE Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Balance of Trade -716957.17
USD Thousand		 -1518000 -1615000 -1663500 -2162500 -2460000
Exports 273717.50
USD Thousand		 332000 335000 336500 337500 340000
Imports 990674.67
USD Thousand		 1850000 1950000 2000000 2500000 2800000
Current Account -148.53
USD Million		 -480 -530 -500 -470 -350
Current Account to GDP -3.00
percent		 -4 -4 -7 -7 -6
Remittances 2305.20
USD Million		 2346 2346 2360 2374 2471
Terrorism Index 0.06
 0.06 0.06 0 0 0
Tourist Arrivals 320272.00
people		 465000 475000 450000 460000 500000
External Debt 14754.06
USD Million		 13430 12599 12299 12236 12635
Capital Flows -531.43
USD Million		 -150 -130 -120 -120 -80
Foreign Direct Investment 243.76
USD Million		 265 270 280 285 290
GOVERNMENT Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Government Debt to GDP 103.30
percent		 95 95 92 92 90
Government Budget -0.10
percent of GDP		 0.2 0.2 0.3 0.3 0.4
Military Expenditure 133.19
USD Million		 119 119 127 127 120
BUSINESS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Internet Speed 6789.74
KBps		 6754 6703 6684 6673 6437
IP Addresses 166943.00
IP		 173117 174176 175227 176264 185914
Ease of Doing Business 70.00
 71 71 73 73 72
Corruption Index 44.00
Points		 47 47 49 49 49
Corruption Rank 68.00
 70 70 70 70 70
Competitiveness Index 4.25
Points		 4.25 4.25 4.3 4.3 4.4
Competitiveness Rank 70.00
 70 70 65 65 60
CONSUMER Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Private Sector Credit 785968.90
JMD Million 		799510 824015 844463 865127 1052994
Gasoline Prices 1.00
USD/Liter		 1.02 0.96 0.91 0.86 0.68
TAXES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Corporate Tax Rate 25.00
percent		 25 25 25 25 25
Personal Income Tax Rate 30.00
percent		 30 30 30 30 30
Sales Tax Rate 16.50
percent		 16.5 16.5 17 17 17
Social Security Rate 18.75
percent		 18.75 18.75 18.75 18.75 18.75
Social Security Rate For Companies 12.00
percent		 12 12 12 12 12
Social Security Rate For Employees 6.75
percent		 6.75 6.75 6.75 6.75 6.75
CLIMATE Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Precipitation 171.27
mm		 189 236 95.42 180 181
Temperature 26.05
celsius		 27.45 25.85 24.85 26.8 26.73