Jamaica recorded a Current Account deficit of 1.90 percent of the country's Gross Domestic Product in 2019. source: Bank of Jamaica

Current Account to GDP in Jamaica averaged -7.70 percent from 1998 until 2019, reaching an all time high of -1.20 percent in 2016 and a record low of -20.40 percent in 2008. This page provides - Jamaica Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. Jamaica Current Account to GDP - values, historical data and charts - was last updated on July of 2021.

Current Account to GDP in Jamaica is expected to reach -2.50 percent by the end of 2021, according to Trading Economics global macro models and analysts expectations. In the long-term, the Jamaica Current Account to GDP is projected to trend around -3.20 percent in 2022 and -2.60 percent in 2023, according to our econometric models.

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Jamaica Current Account to GDP

Actual Previous Highest Lowest Dates Unit Frequency
-1.90 -1.80 -1.20 -20.40 1998 - 2019 percent of GDP Yearly

Jamaica Trade Last Previous Highest Lowest Unit
Balance of Trade -791489.00 -723505.76 -121925.00 -1682374.89 USD Thousand [+]
Current Account 53.64 38.40 153.47 -536.06 USD Million [+]
Current Account to GDP -1.90 -1.80 -1.20 -20.40 percent of GDP [+]
Imports 1089040.00 984354.78 2437559.33 395093.00 USD Thousand [+]
Exports 297551.00 260849.03 796370.98 244067.00 USD Thousand [+]
Remittances 2905.00 2405.60 2905.00 968.00 USD Million [+]
Terrorism Index 0.23 0.47 1.09 0.00 [+]
Tourist Arrivals 90164.00 49413.00 487651.00 0.00 people [+]
Capital Flows -117.58 -148.80 2088.25 -679.40 USD Million [+]
External Debt 12708.61 13500.55 14754.06 8842.61 USD Million [+]
Foreign Direct Investment 50.59 22.10 273.82 22.10 USD Million [+]

Jamaica Current Account to GDP
The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.