The economy of Jamaica expanded by 5.6 percent year-on-year in the third quarter of 2022, picking up from the 4.6 percent growth in the previous quarter. It was the sixth consecutive period of yearly growth, with support from both the goods and the services-producing industries as the economy continued to recover from the impact of the pandemic. Output growth accelerated for agriculture, forestry, and fishing (17 percent vs 6.3 percent) and manufacturing (9.7 percent vs 5.7 percent). Despite slowing down, output was also high for hotels and restaurants (35.3 percent vs 56 percent), largely due to short-stay accommodation and restaurants, bars, and canteens. On a seasonally adjusted quarterly basis, the Jamaican economy grew by 2.1 percent, the most in five quarters, and compared to the 1.3 percent increase in the previous period. source: Statistical Institute of Jamaica

GDP Annual Growth Rate in Jamaica averaged 0.49 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 February of 2023.

GDP Annual Growth Rate in Jamaica is expected to be 1.60 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.

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Jamaica GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-09-30 09:00 PM Q2 4.8% 6.4% 2.6%
2022-12-30 06:00 PM Q3 5.9% 4.8% 5.8%
2023-03-31 03:00 PM Q4 5.9% 1.6%


Related Last Previous Unit Reference
GDP Growth Rate 2.10 1.30 percent Sep 2022
GDP Annual Growth Rate 5.90 4.80 percent Sep 2022
GDP from Utilities 6058.00 6008.00 USD Million Sep 2022
GDP from Transport 20935.00 20854.00 USD Million Sep 2022
GDP from Services 32424.00 36427.00 USD Million Sep 2022
GDP from Public Administration 25838.00 24671.00 USD Million Sep 2022
GDP from Mining 1969.00 1346.00 USD Million Sep 2022
GDP from Manufacturing 18025.00 17327.00 USD Million Sep 2022
GDP from Construction 14569.00 11986.00 USD Million Sep 2022
GDP from Agriculture 16000.00 17215.00 USD Million Sep 2022
GDP Constant Prices 191925.00 192414.00 USD Million Sep 2022

Jamaica GDP Annual Growth Rate
Jamaica, is a small island nation situated in a strategic position near the Panama Canal, and one of the slowest growing economy in the Caribbean. Services, with tourism employing 10 percent of the population, is the most important sector of the economy and accounts for around 60 percent of GDP.
Actual Previous Highest Lowest Dates Unit Frequency
5.90 4.80 14.20 -18.40 1997 - 2022 percent Quarterly
NSA

News Stream
Jamaican GDP Expands for 6th Quarter
The economy of Jamaica expanded by 5.6 percent year-on-year in the third quarter of 2022, picking up from the 4.6 percent growth in the previous quarter. It was the sixth consecutive period of yearly growth, with support from both the goods and the services-producing industries as the economy continued to recover from the impact of the pandemic. Output growth accelerated for agriculture, forestry, and fishing (17 percent vs 6.3 percent) and manufacturing (9.7 percent vs 5.7 percent). Despite slowing down, output was also high for hotels and restaurants (35.3 percent vs 56 percent), largely due to short-stay accommodation and restaurants, bars, and canteens. On a seasonally adjusted quarterly basis, the Jamaican economy grew by 2.1 percent, the most in five quarters, and compared to the 1.3 percent increase in the previous period.
2022-12-30
Jamaica GDP Growth Moderates in Q1
The economy of Jamaica expanded 6.4 percent year-on-year in the first quarter of 2022, slowing slightly from a 6.7 percent growth in the previous quarter. Output growth lost significant momentum in agriculture, forestry and fishing (8.2 percent vs 13.8 percent in Q4), electricity and water supply (1.4 percent vs 5.8 percent), construction (3.5 percent vs 5.9 percent), and wholesale and retail trade (8.8 percent vs 10.6 percent). Meanwhile, the key hospitality and restaurant activities experienced soaring levels of growth (107.1 percent vs 79.5 percent), and manufacturing showed a more modest recovery (4.0 percent vs -2.2). On a seasonally adjusted quarterly basis, the economy contracted by 1.2 percent, following a 1.4 percent rise in the previous quarter.
2022-07-01
Jamaica GDP Growth Advances to 6.7% in Q4
The economy of Jamaica expanded 6.7 percent over a year in the fourth quarter of 2021, accelerating from an upwardly revised 5.9 percent growth in the previous quarter. Output grew at at a faster pace mainly for agriculture, forestry and fishing (13.8 percent vs 7.3 percent in Q3), electricity and water supply (5.8 percent vs 0.6 percent), construction (5.9 percent vs 4.4 percent) and wholesale and retail trade (10.6 percent vs 4.4 percent). Meanwhile, output declined faster for mining and quarrying (-60.5 percent vs -29.1 percent). On a seasonally adjusted quarterly basis, the economy advanced by 1.4 percent, compared to an upwardly revised 0.8 percent rise in the previous quarter.
2022-03-31