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. source: Statistical Institute of Jamaica
GDP Annual Growth Rate in Jamaica averaged 0.39 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 July of 2022.
GDP Annual Growth Rate in Jamaica is expected to be 2.20 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 3.50 percent in 2023 and 1.50 percent in 2024, according to our econometric models.