Jamaica GDP Annual Growth Rate

The Gross Domestic Product (GDP) in Jamaica expanded 0.50 percent in the third quarter of 2013 over the same quarter of the previous year. GDP Annual Growth Rate in Jamaica is reported by the Statistical Institute of Jamaica. From 2003 until 2013, Jamaica GDP Annual Growth Rate averaged 0.5 Percent reaching an all time high of 4.3 Percent in December of 2006 and a record low of -4.5 Percent in June of 2009. Jamaica, a small island nation situated in a strategic position near the Panama Canal, is 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. Jamaica’s large shadow economy and lax tax regulations have translated into persistent fiscal deficits and heavy dependence on remittances. Bureaucracy, high energy costs and a slow, inefficient legal system are hampering foreign direct investments and private initiative. High unemployment and drug related crime are also issues that need to be addressed. This page provides - Jamaica GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-17

Actual Previous Highest Lowest Forecast Dates Unit Frequency
0.50 -0.20 4.30 -4.50 -0.80 | 2013/12 2003 - 2013 Percent Quarterly

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Jamaica GDP Annual Growth Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-04-03 04:00 PM Jamaica
GDP Growth Rate YoY
Q4 2012 -0.9% -0.2%
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GDP Last Previous Highest Lowest Forecast Unit
GDP 14.84 2012-12-31 14.43 14.84 0.70 15.50 2013-12-31 USD Billion [+]
GDP Annual Growth Rate 0.50 2013-09-30 -0.20 4.30 -4.50 -0.80 2013-12-31 Percent [+]
GDP per capita 5562.24 2011-12-31 5133.44 5562.24 429.14 5600.60 2012-12-31 USD [+]
GDP per capita PPP 7082.61 2005-12-31 7082.61 7082.61 7082.61 2006-12-31 USD [+]
GDP Growth Rate 0.80 2013-09-30 1.50 2.20 -1.90 0.64 2013-12-31 Percent [+]
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GDP Annual Growth Rate | Notes
The annual growth rate in Gross Domestic Product measures the increase in value of the goods and services produced by an economy over the period of a year. Therefore, unlike the commonly used quarterly GDP growth rate the annual GDP growth rate takes into account a full year of economic activity, thus avoiding the need to make any type of seasonal adjustment.


RELATED NEWS

Jamaica Youth Unemployment Rate at 5.60 Percent  
Youth Unemployment Rate in Jamaica decreased to 5.60 percent in February of 2014 from 6.10 percent in January of 2014. Youth Unemployment Rate in Jamaica is reported by the Ministry of Internal Affairs & Communications.
Jamaica Corporate Tax Rate at 25.00 percent  
The Corporate Tax Rate in Jamaica stands at 25 percent. Corporate Tax Rate in Jamaica is reported by the Tax Admministration of Jamaica.
Jamaica Sales Tax Rate | VAT at 16.50 Percent  
The Sales Tax Rate in Jamaica stands at 16.50 percent. Sales Tax Rate in Jamaica is reported by the Tax Admministration of Jamaica.
Jamaica Inflation Rate at 8.60 Percent  
The inflation rate in Jamaica was recorded at 8.60 percent in February of 2014. Inflation Rate in Jamaica is reported by the Statistical Institute of Jamaica.
Jamaica GDP Growth Rate at 0.80 Percent  
The Gross Domestic Product (GDP) in Jamaica expanded 0.80 percent in the third quarter of 2013 over the previous quarter. GDP Growth Rate in Jamaica is reported by the Statistical Institute of Jamaica.
Jamaica Balance of Trade at -975800.00 USD Thousand  
Jamaica recorded a trade deficit of 975800 USD Thousand in the third quarter of 2013. Balance of Trade in Jamaica is reported by the Bank of Jamaica.
Jamaica Interest Rate at 5.75 Percent  
The benchmark interest rate in Jamaica was last recorded at 5.75 percent. Interest Rate in Jamaica is reported by the Bank of Jamaica.
Jamaica Government Budget at -1.90 Percent of GDP  
Jamaica recorded a Government Budget deficit equal to 1.90 percent of the countrys Gross Domestic Product in 2011. Government Budget in Jamaica is reported by the Caribbean Centre for Money and Finance.
Jamaica Current Account at -409.30 USD Million  
Jamaica recorded a Current Account deficit of 409.30 USD Million in the third quarter of 2013. Current Account in Jamaica is reported by the Bank of Jamaica.
Jamaica Unemployment Rate at 14.90 Percent  
Unemployment Rate in Jamaica decreased to 14.90 percent in the fourth quarter of 2013 from 15.40 percent in the third quarter of 2013. Unemployment Rate in Jamaica is reported by the Statistical Institute of Jamaica.
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