Advertisement

Jamaica's economy grew 1.1% in first quarter of 2025

 
Jamaica's economy grew by 1.1% in the first three months of 2025 when compared with the similar period last year. 
 
According to the Statistical Institute of Jamaica (STATIN), the increase was mainly driven by a 2% rise in goods production and a 0.8% increase in services.
 
Goods accounted for 30% of the economy, while services make up the other 70%.
 
In the goods sector, agriculture grew by 3.1%, manufacturing 1.7%, construction increased by 1.4%, mining and quarrying went up 0.7%. 
 
In the services sector, information and communications saw the biggest jump, up 6.4%, transport, storage and communication 1.9%, public administration and defence grew 1.3%. 
 
Accommodation and food services and finance and insurance went up 1.2%. Electricity, water and waste management increased 1.1%. 
 
But not all categories saw gains. 
 
Real estate and renting dipped 0.4%, while wholesale and retail trade fell by 0.8%.
 
In the meantime, STATIN says the base year being used to adjust for inflation in nominal GDP is now 2015 rather than 2007.
 
It says this provides a greater degree of accuracy related to real GDP.
 
Nominal GDP refers to GDP before adjustment for the increase in consumer and producer prices.


comments powered by Disqus
Most Popular
Kenyan national murdered in Billy's Bay
Four arrested in $80 million scam targeting...
Trinidadian company opens Church's Texas...