8.14

Jamaica

Selected Economic and Social Data

1987

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

Population ('000)

2,327

2,330

2,360

2,378

2,399

2,424

2,446

2,473

2,503

2,528

2,554

Growth Rate (%)

0.4

0.1

1.3

0.8

0.9

1.0

0.9

1.1

1.2

1.0

1.0

National Accounts

GDP, current prices (J$ m)

16,640

19,458

23,400

30,518

44,906

73,253

99,843

132,377

170,133

203,109

220,556

GDP, 1986 prices (J$ m)

14,982

15,409

16,459

17,359

17,486

17,752

18,011

18,210

18,294

17,973

17,549

Real GDP Growth Rate (%)

7.8

2.8

6.8

5.5

0.7

1.5

1.5

1.1

0.5

-1.8

-2.4

Real Per Capita GDP (1986 J$)

6,437

6,614

6,975

7,300

7,290

7,326

7,364

7,361

7,308

7,111

6,872

Real Per Capita GDP Growth Rate (%)

7.4

2.7

5.5

4.6

-0.1

0.5

0.5

0.0

-0.7

-2.7

-3.4

Gross Domestic Investment/GDP (%)

22.2

25.4

28.5

27.9

26.8

33.0

34.6

33.1

34.4

34.7

32.3

Private

..

..

..

..

..

..

..

..

..

..

30.7

Public

..

..

..

..

..

..

..

..

..

..

1.6

Gross National Savings/GDP (%)

15.5

25.4

16.4

17.2

18.1

30.3

27.4

30.6

26.3

27.3

..

Private

15.7

24.8

..

..

..

..

..

..

..

..

..

Public

-0.2

0.6

..

..

..

..

..

..

..

..

..

Foreign Savings/GDP (%)

6.7

0.0

12.1

10.7

8.7

2.7

7.2

2.5

8.1

7.4

..

Prices

GDP Price Deflator (1974=100)

111.1

126.3

142.2

175.8

256.8

412.6

554.3

726.9

930.0

1,130.1

1,256.8

Annual Change (%)

11.1

13.7

12.6

23.7

46.1

60.6

34.4

31.1

27.9

21.5

11.2

Consumer Prices (Jan. 1988=100)

95.6

103.5

118.3

144.3

217.9

386.4

471.8

637.4

764.2

966.0

1,059.7

Annual Change (%)

6.7

8.3

14.3

22.0

51.0

77.3

22.1

35.1

19.9

26.4

9.7

Balance of Payments (US$m)

Current Account

(209)

(36)

(486)

(445)

(356)

(81)

(266)

(23)

(249)

(246)

(405)

Exports, fob

709

883

1,000

1,158

1,151

1,054

1,075

1,220

1,437

1,387

1,386

Imports, fob

1,061

1,240

1,606

1,680

1,575

1,530

1,880

1,916

2,426

2,519

2,653

Trade Balance

(352)

(357)

(606)

(522)

(424)

(476)

(805)

(696)

(989)

(1,132)

(1,267)

Tourism, net

551

469

539

686

710

794

878

905

940

952

969

Investment Income, net

(399)

(407)

(436)

(517)

(479)

(348)

(240)

(284)

(297)

(178)

(192)

Other Services, net

(126)

123

(118)

(247)

(316)

(299)

(405)

(395)

(453)

(472)

(521)

Private Transfers, net

117

136

135

155

153

248

306

447

550

584

606

Capital Account

415

250

325

508

272

401

380

383

262

523

270

Official Transfers, net

54

70

188

116

100

92

71

28

58

53

30

Direct Investment, net

54

(12)

57

138

133

142

132

117

179

219

93

Private, M-T & L-T, net

(4)

(8)

(6)

61

30

9

1

17

65

129

75

Private Short-Term, net

95

81

(144)

97

(90)

168

178

348

57

267

34

Other, net

216

117

230

96

99

-10

-2

(127)

-97

-145

38

Errors and Omissions

7

(33)

(1)

(4)

(22)

17

52

(22)

7

1

-26

Overall Balance

213

181

-162

59

-106

337

166

338

20

278

-161

External Public Debt

Outstanding Debt, 12/31 (US$ m)

4,014

4,002

4,038

4,152

3,874

3,678

3,687

3,652

3,452

3,232

3,278

Outstanding Debt/GDP (%)

141.0

117.4

104.7

111.9

119.6

115.4

91.8

72.8

83.1

56.0

51.0

Debt Service/Exports (%) (after rescheduling)

47.5

38.8

32.1

29.0

26.7

27.1

22.6

20.0

18.8

18.0

16.4

Consolidated Nonfinancial Public Sector (% of GDP)

Current Revenue (excluding grants)

30.8

28.3

29.6

27.1

28.8

28.1

30.0

31.2

33.9

29.3

29.2

Current Expenditures

25.7

26.2

25.8

22.7

22.7

21.0

23.6

25.3

26.6

30.7

32.5

Current Surplus/Deficit (excluding grants)

5.1

2.1

3.8

4.4

6.1

7.1

5.4

5.8

7.3

-1.4

-3.3

Capital Revenue (Divestment Proceeds)

2.0

0.5

1.2

1.0

0.7

0.0

0.0

-0.8

0.0

0.0

0.0

Capital Expenditures

8.1

8.8

6.4

4.2

5.1

5.2

4.3

4.3

6.7

6.5

5.9

Overall Surplus/Deficit

-1.0

-6.2

-1.4

1.2

1.7

2.0

1.1

0.7

0.6

-7.9

-9.2