Current Account in Jamaica

Jamaica Current Account | Economic News & Forecasts

Jamaica - Current Account

Following a solid expansion in Q2, economic prospects for Q3 appear mixed. A third Covid-19 wave swept the country in mid-July, forcing tighter restrictions—including a number of lockdowns from late August—which likely weighed on private consumption. Moreover, remittance growth was weaker in Q3 than in Q2, amid softer momentum in the U.S. That said, a significant fall in the unemployment rate likely supported spending somewhat. Heading into Q4, although the vaccination rate remains low amid pockets of vaccine hesitancy and opposition, Covid-19 measures have succeeded in reducing infections. This allowed the government to ease restrictions in mid-September and again in late October, which should be aiding activity. In addition, the U.S. and the UK recently lifted their advice to avoid travel to the country, which should offer a boost to the important tourism industry.

Jamaica - Current Account Data

2015   2016   2017   2018   2019  
Current Account (% of GDP)-3.0  -0.3  -2.6  -1.8  -2.0  

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