GDP reading: GDP declined 3.5% in seasonally adjusted annualized rate terms (SAAR) in the second quarter, contrasting the 3.1% expansion...
Economic Growth in Jamaica
Jamaica's economy recorded an average growth rate of 0.7% in the decade to 2024, compared to the 2.9% average for Central America and Caribbean. In 2024, real GDP growth was -0.7%. For more GDP information, visit our dedicated page.
Jamaica GDP Chart
Note: This chart displays Economic Growth (GDP, annual variation in %) for Jamaica from 2024 to 2014.
Source: Macrobond.
Jamaica GDP Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Economic Growth (Real GDP, ann. var. %) | -8.3 | 5.7 | 6.4 | 2.7 | -0.5 |
| GDP (USD bn) | 15.0 | 16.0 | 18.8 | 21.4 | 22.0 |
| GDP (JMD bn) | 2,136 | 2,407 | 2,886 | 3,302 | 3,444 |
| Economic Growth (Nominal GDP, ann. var. %) | -5.9 | 12.7 | 19.9 | 14.4 | 4.3 |
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Jamaican GDP projections for the next ten years from a panel of 9 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable GDP forecast available for Jamaican GDP.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Jamaican GDP projections.
Want to get access to the full dataset of Jamaican GDP forecasts? Send an email to info@focus-economics.com.
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