The Gross Domestic Product (GDP) in Jamaica expanded 4.80 percent in the second quarter of 2022 over the same quarter of the previous year. This was attributed to an increase of 7.2 percent in value added at constant prices for the Services Industries. The growth in the Services Industries was due to improved performance in all eight (8) industries: Hotels & Restaurants (56.0%), Wholesale & Retail Trade; Repairs; Installation of Machinery & Equipment (7.6%), Transport, Storage & Communication (5.7%), Other Services (9.8%), Finance & Insurance Services (1.1%), Real Estate, Renting & Business Activities (2.1%), Producers of Government Services (0.4%) and Electricity & Water Supply (2.0%). source: Statistical Institute of Jamaica
GDP Annual Growth Rate in Jamaica averaged 0.43 percent from 1997 until 2022, reaching an all time high of 14.20 percent in the second quarter of 2021 and a record low of -18.40 percent in the second quarter of 2020. 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 October of 2022.
GDP Annual Growth Rate in Jamaica is expected to be 3.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Jamaica GDP Annual Growth Rate is projected to trend around 3.00 percent in 2023 and 1.50 percent in 2024, according to our econometric models.