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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. [17]
Jamaica's annual population growth rate stood at 0.08% in 2022. As of 2023, 68.9% of Jamaicans were Christians in 2011, predominantly Protestant . A more precise study conducted by the local University of the West Indies - Jamaica's population is more accurately 76.3% African descent or Black, 15.1% Afro-European, 3.4% East Indian and Afro-East ...
Jamaica is a mixed economy with both state enterprises and private sector businesses. Major sectors of the Jamaican economy include agriculture, mining, manufacturing, tourism, petroleum refining, financial and insurance services. [84] Tourism and mining are the leading earners of foreign exchange. Half the Jamaican economy relies on services ...
According to updated economic forecasts from the Fed's Summary of Economic Projections (SEP), central bank leaders see core inflation hitting 2.5% in 2025 — higher than September's projection of ...
Due to the lack of economic opportunity and low GDP per capital levels, Caribbean people are traveling in large numbers to developed countries. Globally, Grenada has the third-highest percentage of emigrating at 67.3%, St. Kitts and Nevis is fourth at 61.0% and Guyana is fifth at 56.8%. Most of these Caribbean emigrants are women.
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 ...
[7] [8] Since China's transition to a socialist market economy through controlled privatisation and deregulation, [9] [10] the country has seen its ranking increase from ninth in 1978, to second in 2010; China's economic growth accelerated during this period and its share of global nominal GDP surged from 2% in 1980 to 18% in 2021.
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]