The economy of Jamaica shrank 6.7 percent year-on-year in the first quarter of 2021, a fifth consecutive period of contraction, as the coronavirus crisis continued to weigh on demand and activity. The hotels and restaurants industry was the hardest hit sector of the economy, followed by transport storage and communication. wholesale and retail trade, and other services. On a quarterly basis, the economy grew 0.6 percent in January-March, easing from a 0.9 percent expansion in the previous period. source: Statistical Institute of Jamaica
GDP Annual Growth Rate in Jamaica averaged 0.06 percent from 1997 until 2021, reaching an all time high of 4.30 percent in the fourth quarter of 2006 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 July of 2021.
GDP Annual Growth Rate in Jamaica is expected to be 5.50 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 3.80 in 12 months time. In the long-term, the Jamaica GDP Annual Growth Rate is projected to trend around 5.50 percent in 2022 and 4.50 percent in 2023, according to our econometric models.