Current Account in Jamaica

Jamaica Current Account | Economic News & Forecasts

Jamaica - Current Account

The economy likely lost some steam in the second quarter, after decelerating slightly in the first quarter. Annual visitor arrivals contracted sharply in Q2, likely tied to travel advisories warning of elevated violent crime, while the agriculture sector suffered due to drought. On the external front, the merchandise trade deficit widened in January–May relative to the same time last year, due to a sharp rise in imports which more than offset healthy export growth. More positively, the unemployment rate dipped to a record low in April and annual private sector credit growth was robust in Q2, which should have supported private consumption. Turning to the third quarter, business confidence in July rebounded slightly, which, coupled with lower interest rates, bodes well for fixed investment.

Jamaica - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-9.6  -8.0  -3.0  -0.3  -2.6  

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