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The output of the Jamaican economy, measured by gross domestic product, is the thirteenth largest in Latin America at an estimated US$ 14.7 billion.  64.7% of this figure is derived from the service industry.

The largest individual sectors of commerce are:

  • mining (bauxite and alumina)
  • agro processing
  • light manufactures
  • rum
  • cement
  • metal
  • paper
  • chemical products
  • telecommunications

Remittances from Jamaicans abroad are also substantial, accounting for roughly 15% of GDP and making up much of the country’s foreign exchange reserves.

The Jamaican Labour force consists of 1.3 million people, or 48% of the total population.

The main trading partners for the island are:

  • The United States
  • The European Union (excluding the UK)
  • The United Kingdom
  • Canada

These are also the regions in which there are the largest populations of overseas Jamaicans.

Jamaica’s public debt stands at 126.5% of GDP (2011 est).

Average inflation rate is 7.7%, and the commerical banks lend money at approximately 14.3% (both 2011 est). 

 


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