Map of the northern Caribbean showing Jamaica Passage, see https://www.cia.gov/library/publications/the-world-factbook/docs/refmaps.html. (Photo credit: Wikipedia)
THE ECONOMY
- GDP - J$1,320 billion
- GDP per capita - J$487,000
- Goods as a % of GDP – 24.6%
- Services as a % of GDP – 75.4%
- Annual Average Exchange Rate - JMD$88.99 to US$1 (2012)
- Interest Rates - 7.18% (6-month weighted average treasury yield as at Dec. 2012)
- Inflation declined from 16.8% to 8.0% between 2008 and 2012
Trade & Investment
- Foreign Direct Investment (FDI) over the last 10 years - US$ 6.40 billion
- FDI received in 2012 - US$228 million
- ICT jobs facilitated by JAMPRO in 2012 - 1,676
- Export of Goods - US$ 1.7 billion
- Percentage growth in Exports – 5.4%
- Exports as a % of GDP – 11.5%
- Export in Services - US$2.6 billion
Population, Workforce and Education
- Population - 2.7 million
- Labour force - 1.3 million
- Professionals with a degree or diploma - 159,775
- Tertiary graduates in 2012 - 15,460
Doing Business (Key Indicators, 2014)
- Number of required tax payments per year reduced to 36
- Easiest country to start a business in the Caribbean - 23rd out of 189 (Global ranking)
- Shortest time to start a business in the Caribbean and Latin America – 6 days
Jamaica outperforms the Caribbean and Latin America region in the following Doing Business indicators:
| Indicator | Jamaica Rank | Latin America and the Caribbean Rank (Regional Average) |
| Starting a business | 23 | 103 |
| Dealing with construction permits | 52 | 78 |
| Protecting Investors | 80 | 95 |
| Resolving Insolvency | 31 | 104 |
(Sources: Statistical Institute of Jamaica (STATIN), Economic and Social Survey of Jamaica 2012, Bank of Jamaica and the World Bank Group’s Doing Business Report 2014)
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