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Jamaica

Jamaica : economy statistics and industry reports

  • Updated on : 27 August 2012  Source : The World Factbook

Imports

$6.292 billion (2011 est.)
$4.629 billion (2010 est.)

Exports

$1.613 billion (2011 est.)
$1.37 billion (2010 est.)

Inflation rate (consumer prices)

7.5% (2011 est.)
12.6% (2010 est.)

Unemployment rate

12.7% (2011 est.)
12.4% (2010 est.)

GDP - per capita (PPP)

$9,100 (2011 est.)
$9,000 (2010 est.)
$9,200 (2009 est.)
note: data are in 2011 US dollars

National product real growth rate

-0.8% (2010 est.)
-2.8% (2009 est.)
-0.9% (2008 est.)

Internet users

1.581 million (2009)

Telephones - mobile cellular

3.103 million (2009)

Population growth rate

0.714% (2012 est.)

Population

2,889,187 (July 2012 est.)

Historical background

The island - discovered by Christopher COLUMBUS in 1494 - was settled by the Spanish early in the 16th century.

The native Taino Indians, who had inhabited Jamaica for centuries, were gradually exterminated and replaced by African slaves.

England seized the island in 1655 and established a plantation economy based on sugar, cocoa, and coffee.

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Jamaica

Economic overview

The Jamaican economy is heavily dependent on services, which now account for more than 60% of GDP.

The country continues to derive most of its foreign exchange from tourism, remittances, and bauxite/alumina.

Remittances account for nearly 15% of GDP and exports of bauxite and alumina make up about 10%.

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