The Bank of Jamaica is reporting a continued decline in net foreign direct investment inflows to the Jamaican economy.
The central bank says net FDI inflows—representing the difference between investment coming into Jamaica and investment flowing out—peaked at US$854 million in 2017, up from US$657 million the previous year.
The inflows subsequently slumped to US$219 million in 2019 before rebounding to US$469 million in 2023.
The Bank of Jamaica says the inflows then declined sharply to US$283 million last year.
Net foreign direct investment is an important source of financing for Jamaica's external accounts, helping to offset the current account deficit.
This is particularly important because earnings from services such as tourism and business process outsourcing, along with remittances, are not always sufficient to cover the country's merchandise trade deficit—the gap between the value of goods Jamaica imports and exports.
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