GDP in Jamaica
Jamaica - GDPGrowth slowed in Q3 in both year-on-year and seasonally-adjusted month-on-month terms in both the services and goods industries. This was likely due to the third Covid-19 wave in July, which led to a number of lockdowns from late August. Indeed, the contact-heavy hotels and restaurants sector suffered an especially significant slowdown. In Q4, growth was likely supported by falling Covid-19 cases which allowed looser restrictions from September. Moreover, remittance growth averaged higher in October than in Q3, although tourism activity ebbed somewhat in October on U.S. advice against travel to the country. Looking to the current year, a record case surge in January amid the global outbreak of Omicron is likely dulling momentum in Q1. While the government has ruled out new lockdowns, pointing towards vaccination as the solution, the low inoculation rate could force fresh restrictions ahead.
Jamaica - GDP Data
|Economic Growth (GDP, annual variation in %)||0.9||1.4||1.0||1.9||0.9|
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Jamaica GDP Chart
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