| Economy - overview: | The Jamaican economy is heavily dependent on services, which now account for 60% of GDP. The country continues to derive most of its foreign exchange from tourism, remittances, and bauxite/alumina. The global economic slowdown, particularly after the terrorist attacks in the US on 11 September 2001, stunted economic growth; the economy rebounded moderately in 2003-04, with brisk tourist seasons. But the economy faces serious long-term problems: high interest rates; increased foreign competition; a pressured, sometimes sliding, exchange rate; a sizable merchandise trade deficit; large-scale unemployment; and a growing internal debt, the result of government bailouts to ailing sectors of the economy. The ratio of debt to GDP is more than 125%. Inflation, previously a bright spot, is expected to remain in the double digits. Uncertain economic conditions have led to increased civil unrest, including gang violence fueled by the drug trade. In 2004, the government faced the difficult prospect of having to achieve fiscal discipline in order to maintain debt payments while simultaneously attacking a serious and growing crime problem which is hampering economic growth. Attempts at deficit control were derailed by Hurricane Ivan in September 2004, which required substantial government spending to repair the damage. Despite the hurricane, tourism looks set to enjoy solid growth for the foreseeable future. |
| GDP - per capita | $4,300 (2005 est.) |
| GDP - real growth rate (%) | 3.2% (2005 est.) |
| Agriculture - products | sugarcane, bananas, coffee, citrus, yams, vegetables, poultry, goats, milk, crustaceans, and mollusks |
| GDP - composition by sector (%) | agriculture: 4.9%, industry: 33.8%, services: 61.3% (2005 est.) |
| Industries | tourism, bauxite/alumina, textiles, agro processing, wearing apparel, light manufactures, rum, cement, metal, paper, chemical products, telecommunications |
| Economic aid - recipient | $16 million (2003) |
| Debt - external | $6.792 billion (2005 est.) |
| Population below poverty line (%) | 19.7% (2002 est.) |
| Labor force - by occupation (%) | agriculture 20.1%, industry 16.6%, services 63.4% (2003) |
Environment, Land use / Resources, Economy, Population / Demographics, Infrastructure, Health -- CIA World Factbook, 2005
