The economy of Jamaica stalled in the fourth quarter of 2019, following a 0.6 percent expansion for the previous quarter. It was the weakest figure since the last quarter of 2014, when the economy shrank 0.2 percent, as the mining sector contracted 40.4 percent (vs -17.5 percent). Also, output growth slowed in manufacturing (0.4 percent vs 4.9 percent in Q3); food, beverages & tobacco (1.8 percent vs 2.3 percent); transportation & communication (0.5 percent vs 1.2 percent); and real estate (0.7 percent vs 0.9 percent). Meanwhile, construction output shrank 1.9 percent, less than a 2.1 percent contraction in Q3. On a quarterly basis, the economy contracted 0.5 percent, after shrinking 0.2 percent in the previous period.
GDP Annual Growth Rate in Jamaica averaged 0.57 percent from 1997 until 2019, reaching an all time high of 4.30 percent in the fourth quarter of 2006 and a record low of -4.60 percent in the second quarter of 2009. This page provides - Jamaica GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Jamaica GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020.
GDP Annual Growth Rate in Jamaica is expected to be -4.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Jamaica to stand at 0.90 in 12 months time. In the long-term, the Jamaica GDP Annual Growth Rate is projected to trend around 1.80 percent in 2021 and 2.30 percent in 2022, according to our econometric models.