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 Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Growth Rate 1.60 0.9 1.2 1.3 0.8 1.3 percent
Unemployment Rate 8.40 10 10.5 7.1 6.7 12 percent
Inflation Rate 4.30 4.1 4.2 4 3.7 3.4 percent
Interest Rate 2.00 2 2 2 2 2.5 percent
Balance of Trade -1037303.00 -1615000 -1663500 -2162500 -982973 -2460000 USD Thousand
Government Debt to GDP 103.30 95 92 92 92 90 percent
MARKETS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Currency 125.17
 134 135 136 136 139
Stock Market 363327.25
points		 176859 85351 41191 19863 1077
GDP Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Growth Rate 1.60
percent		 0.9 1.2 1.3 0.8 1.3
GDP Annual Growth Rate 2.20
percent		 2 2 2.2 2.2 2.3
GDP 14.77
USD Billion		 15 15.8 15.8 15.8 16.2
GDP per capita 4798.21
USD		 5050 5200 5200 5200 5350
GDP per capita PPP 8193.60
USD		 8220 8320 8320 8320 8450
GDP Constant Prices 194373.00
USD Million		 196906 195959 198649 190671 205866
GDP From Agriculture 15655.00
USD Million		 13112 14207 15999 12727 13709
GDP From Construction 12766.00
USD Million		 14909 14859 13047 13458 15588
GDP From Manufacturing 15932.00
USD Million		 16739 16800 16283 17284 17501
GDP From Mining 5023.00
USD Million		 4415 4953 5134 3873 4615
GDP From Public Administration 24379.00
USD Million		 24170 23257 24915 26183 25270
GDP From Services 33174.00
USD Million		 34821 33985 33904 32210 36405
GDP From Transport 21872.00
USD Million		 21358 21011 22353 21347 22330
GDP From Utilities 6269.00
USD Million		 6140 6138 6407 6354 6420
LABOUR Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Unemployment Rate 8.40
percent		 10 10.5 7.1 6.7 12
Youth Unemployment Rate 22.40
percent		 21.7 21.3 21.3 22.86 20
Population 2.73
Million		 2.73 2.73 2.73 2.73 2.73
Unemployed Persons 111800.00
 128000 123000 123000 88928 120000
Labor Force Participation Rate 64.50
percent		 64.39 64.24 64.39 64.44 64.38
Employed Persons 1226400.00
 1210000 1220000 1220000 1238918 1230000
Employment Rate 91.60
percent		 92.09 92.92 92.94 93.47 96.41
PRICES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Inflation Rate 4.30
percent		 4.1 4.2 4 3.7 3.4
Inflation Rate Mom 1.10
percent		 1.4 1.3 1.4 1.4 1.2
Food Inflation 4.10
percent		 3.3 3.2 3.1 4.52 3.4
Cpi Housing Utilities 259.10
Index Points		 249 257 249 269 267
Cpi Transportation 215.90
Index Points		 219 219 222 224 234
Consumer Price Index Cpi 255.60
Index Points		 259 259 258 265 278
MONEY Actual Q4/18 Q1/19 Q2/19 Q3/19 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 230616.06
JMD Million 		237851 245119 252426 259757 323181
Money Supply M2 496404.49
JMD Million 		514518 530392 545596 560639 684854
Central Bank Balance Sheet 668907.46
JMD Million 		669932 671964 673690 674847 676979
Foreign Exchange Reserves 3207.27
USD Million		 3490 3500 3540 3122 3750
TRADE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Balance of Trade -1037303.00
USD Thousand		 -1615000 -1663500 -2162500 -982973 -2460000
Exports 407398.00
USD Thousand		 335000 336500 337500 407419 340000
Imports 1444701.00
USD Thousand		 1950000 2000000 2500000 1390392 2800000
Current Account -74.30
USD Million		 -530 -500 -470 -239 -350
Current Account to GDP -3.00
percent		 -4 -7 -7 -7 -6
Remittances 2305.20
USD Million		 2346 2360 2374 2388 2471
Terrorism Index 0.06
 0.06 0 0 30 0
Tourist Arrivals 311861.00
people		 475000 450000 460000 346300 500000
External Debt 13081.74
USD Million		 12038 12239 12417 12751 12748
Capital Flows -22.60
USD Million		 -130 -120 -120 -266 -80
Foreign Direct Investment 166.90
USD Million		 270 280 285 196 290
GOVERNMENT Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Government Debt to GDP 103.30
percent		 95 92 92 92 90
Government Budget -0.10
percent of GDP		 0.2 0.3 0.3 0.3 0.4
Military Expenditure 133.19
USD Million		 134 132 132 132 132
BUSINESS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Internet Speed 6789.74
KBps		 6703 6684 6673 6641 6437
IP Addresses 166943.00
IP		 174176 175227 176264 177288 185914
Ease of Doing Business 75.00
 80 73 73 73 72
Corruption Index 44.00
Points		 44 44 44 44 44
Corruption Rank 68.00
 68 68 68 68 68
Competitiveness Index 57.88
Points		 58.38 58.38 58.38 58.38 60.88
Competitiveness Rank 79.00
 79 79 79 79 79
CONSUMER Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Private Sector Credit 785968.90
JMD Million 		824015 844463 865127 885359 1052994
Gasoline Prices 1.07
USD/Liter		 1.05 1.04 1.02 1 0.93
TAXES Actual Q4/18 Q1/19 Q2/19 Q3/19 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 16.5 16.5 16.5
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 Q4/18 Q1/19 Q2/19 Q3/19 2020
Precipitation 171.27
mm		 236 95.42 180 180 181
Temperature 26.05
celsius		 25.85 24.85 26.8 26.79 26.73



Jamaica - Economic Forecasts - 2018-2020 Outlook