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.


Most Popular
Jamaican economy expected to grow 2-3% for...
PNP and JLP fancy election chances despite...
Retired Deputy Governor of the BOJ to take...