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 9.60 10 10 10.5 8.4 12 percent
Inflation Rate 2.80 3.4 3.6 4.3 4.3 4.6 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 130.25
 131 132 134 136 143
Stock Market 317396.78
points		 297187 281864 267324 253505 205086
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 9.60
percent		 10 10 10.5 8.4 12
Youth Unemployment Rate 21.60
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 128500.00
 128000 128000 123000 123000 120000
Labor Force Participation Rate 63.90
percent		 64.19 64.06 63.97 64.02 64.02
Employed Persons 1206600.00
 1210000 1210000 1220000 1220000 1230000
Employment Rate 90.40
percent		 90.55 90.74 91.25 91.6 92.67
PRICES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Inflation Rate 2.80
percent		 3.4 3.6 4.3 4.3 4.6
Inflation Rate Mom 0.40
percent		 -0.5 -0.5 -0.2 -0.2 0.3
Food Inflation 2.90
percent		 3.5 3.3 3.2 3.1 3.4
Cpi Housing Utilities 239.70
Index Points		 242 248 258 250 271
Cpi Transportation 213.40
Index Points		 215 218 219 223 238
Consumer Price Index Cpi 248.00
Index Points		 253 258 259 259 282
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 220178.90
JMD Million 		230788 238279 245877 253292 324846
Money Supply M2 482255.28
JMD Million 		510101 529379 548327 566988 742220
Foreign Exchange Reserves 3426.16
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 2291.50
USD Million		 2324 2345 2359 2373 2552
Terrorism Index 0.06
 0.06 0.06 0 0 0
Tourist Arrivals 450011.00
people		 465000 475000 450000 460000 500000
External Debt 14754.06
USD Million		 13439 12562 12339 12211 12610
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
Gasoline Prices 1.02
USD/Liter		 0.97 0.91 0.86 0.81 0.46
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