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The economy of Jamaica is heavily reliant on services, accounting for 71% of the country's GDP. [16] Jamaica has natural resources and a climate conducive to agriculture and tourism. The discovery of bauxite in the 1940s and the subsequent establishment of the bauxite-alumina industry shifted Jamaica's economy from sugar , and bananas .
Latin American and the Caribbean countries by GDP per capita PPP (2019). This is a list of Latin American and the Caribbean countries by gross domestic product at purchasing power parity in international dollars according to the International Monetary Fund 's estimates in the October 2023 World Economic Outlook database.
This is a list of Latin American and Caribbean countries by gross domestic product (nominal) in USD according to the International Monetary Fund's estimates in April 2024 World Economic Outlook database. Cuba is not included in the list due to lack of economic data.
Economic history of Jamaica (3 C, 3 P) I. Industry in Jamaica (4 C) Infrastructure in Jamaica (1 C) L. Labour in Jamaica (1 C) S. Science and technology in Jamaica (3 ...
In 2010 the labor force participation rate in the Caribbean was 77% and in 2011 it was recorded that GDP per capital in the Caribbean communities average near $10,000. Due to the lack of economic opportunity and low GDP per capital levels, Caribbean people are traveling in large numbers to developed countries.
The economy of Jamaica consists mostly of a service sector, contributing over 70% of the GDP. [4] Tourism accounts for 20% of GDP, and remittances accounts for 14%. [4] The Jamaican economy has suffered from poor overall growth in the past several decades, averaging less than 1% growth annually over the past 30 years. [4]
The US labor market just finished a year that many thought would see a recession with one of the highest 12-month job totals seen in the last decade.. Including an unexpectedly strong December ...
Jamaica is an upper-middle-income country [15] with an economy heavily dependent on tourism; it has an average of 4.3 million tourists a year. [20] Jamaica is a parliamentary constitutional monarchy, with power vested in the bicameral Parliament of Jamaica, consisting of an appointed Senate and a directly elected House of Representatives. [9]