Jamaica's GDP in 2023 was predominantly driven by the Services sector, contributing 39.47% of the total output, followed by Wholesale and Retail Trade, Restaurants, and Hotels at 23.06%. Mining, Manufacturing, and Utilities contributed 14.24%, while Transport, Storage, and Communication accounted for 7.95%. Construction and Agriculture sectors were closely aligned at 7.65% and 7.62% respectively. Over the last two years, there have been notable fluctuations with certain sectors, particularly in Services and Retail trade, showing resilience. The five-year CAGR indicates overall gradual sectoral expansion.
Future trends in Jamaica's GDP composition could include:
- An increasing shift towards digital and technology-driven services within the Services sector.
- Enhanced focus on sustainable practices in Agriculture, potentially increasing its GDP contribution.
- Expansion in the Mining and Manufacturing sector due to infrastructural investments.
- A potential boost in Construction with ongoing economic developments and infrastructure projects.
- Resilience and adaptation in the Hospitality and Retail sectors addressing global supply chain changes.
Top countries in GDP Composition by Sector
| # | 6 Countries | Percent | Last Year | |
|---|---|---|---|---|
| 1 | 1 Services | 39.47 | 2016 | |
| 2 | 2 Wholesale, retail trade, restaurants and hotels | 23.06 | 2016 | |
| 3 | 3 Mining, Manufacturing, Utilities | 14.24 | 2016 | |
| 4 | 4 Transport, storage and communication | 7.95 | 2016 | |
| 5 | 5 Construction | 7.65 | 2016 | |
| 6 | 6 Agriculture, hunting, forestry, fishing | 7.62 | 2016 |
