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. source: Statistical Institute of Jamaica

GDP Annual Growth Rate in Jamaica averaged 0.33 percent from 1997 until 2021, 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 1.80 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.

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Jamaica GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-01-03 03:00 PM Q3 5.8% 14.2% 13%
2022-03-31 09:00 PM Q4 6.7% 5.9% 3.2%
2022-07-01 03:00 PM Q1 6.7% 5.8%


Related Last Previous Unit Reference
GDP Growth Rate 1.40 0.60 percent Dec 2021
GDP Annual Growth Rate 6.70 5.90 percent Dec 2021
GDP From Utilities 5873.00 5830.00 USD Million Dec 2021
GDP From Transport 21067.00 19762.00 USD Million Dec 2021
GDP From Services 35387.00 30795.00 USD Million Dec 2021
GDP From Public Administration 23783.00 25811.00 USD Million Dec 2021
GDP From Mining 1362.00 2719.00 USD Million Dec 2021
GDP From Manufacturing 16360.00 16453.00 USD Million Dec 2021
GDP From Construction 16768.00 15030.00 USD Million Dec 2021
GDP From Agriculture 14568.00 13676.00 USD Million Dec 2021
GDP Constant Prices 192709.00 181181.00 USD Million Dec 2021

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
6.70 5.90 14.20 -18.40 1997 - 2021 percent Quarterly
NSA

News Stream
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
Jamaica GDP Growth Eases From Record Pace
The economy of Jamaica rose 5.8 percent over a year in the third quarter of 2021, after recording a 14.4 percent increase in the previous quarter, the strongest growth pace since 1997. Output grew at a slower pace for all activities, mainly for hotels & restaurants (4.4 percent vs 19.3 percent), wholesale & retail trade (4.4 percent vs 17.4 percent), construction (4.4 percent vs 17.4 percent), agriculture & forestry & fishing (7.3 percent vs 15 percent), manufacturing (4.6 percent 13.5 percent), food & beverages & tobacco (4.2 percent vs 10.2 percent), and utilities (0.6 percent vs 4 percent). Meanwhile, mining & quarrying accelerated the fall (-29.7 percent vs -9.2 percent). On a seasonally adjusted quarterly basis, the economy advanced by 0.6 percent, compared to an upwardly revised 2.5 percent in the previous quarter.
2022-01-03
Jamaica GDP Rebounds at Record Pace
The economy of Jamaica surged 14.2 percent over a year in the second quarter of 2021, following five consecutive quarters of contraction. It was the highest growth rate since at least 1997, largely due to low base effects from the start of the pandemic last year and prolonged restrictive lockdowns. Output rebounded for most of the sectors of the economy, primarily hotels and restaurants (334.6 percent vs -55.9 percent in Q1), wholesale and retail trade (19.3 percent vs -5.1 percent), transportation (13.9 percent vs -7.8 percent), real estate and business (5.2 percent vs -1.9 percent), manufacturing (12.9 percent vs -0.9 percent) and agriculture, forestry and fishing (15 percent vs -1.9 percent). At the same time, the construction sector grew much faster (17.4 percent vs 10.5 percent). On a seasonally adjusted quarterly basis, the economy advanced by 2.4 percent, compared to an upwardly revised 0.7 percent in the first quarter.
2021-10-06