ECONOMIC INFORMATION
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Population:2.6m
Population growth: 0.88%
Population density (people per sq. km): 244
UN Human Development Index ranking: 79/177
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Gross national income (current US$): $7.3bn (2003)
Gross national income per capita: $2,760
PPP Gross national income: $10.0bn
PPP Gross national income per capita: $3,790
GDP growth: 1.1% (2003)
GDP breakdown Agriculture: 5.3%, Industry: 29.2%, Services: 65.5%
Inflation (12-month average): 16.7 (2003)
Gross capital formation as % of GDP: 27.0%
Final consumption expenditure as % of GDP (growth): 91.7% (9.0%)
Exports of goods & services as % of GDP: 43.1%
Top 3 export markets: US, UK, Canada
Local industries: Tourism, bauxite, textiles, food processing, light manufactures, rum, cement, metal, paper, chemical products
WEF Growth Competitiveness ranking *: 65/104
WEF Business Competitiveness ranking **: 54/103
WEF Quality of the Business Environment ranking: 53/103
Transparency International Corruption Perceptions ranking: 74/145
Languages : English (official)
FDI INFORMATION
Region: Central America
No. of projects (Jan-Sep 2004): 8
Market-share of projects in the region: 1.8%
Value of projects relative to GDP: 10.0%
Top 3 destination sectors: Hotels, tourism & leisure, real estate, financial services
Top 3 business functions: Construction, customer support centre, manufacturing
Top 3 source countries: US, Spain
Top 3 investors: National Assets Recovery Services, Iberostar, Verizon Global Solutions
IPA
Name: Jamaica Promotions Corporation
Web address: www.investjamaica.com
* World Economic Forum Growth Competitiveness Ranking assesses an economy’s ability to grow consistently
** World Economic Forum Business Competitiveness Ranking assesses the microeconomic factors that contribute to economic growth
*** The difficulty of hiring workers and the difficulty and expense of firing workers is reflected as an index where the higher the value the more rigid the regulations