Jamaica GDP Annual Growth Rate

Last Release

Dec 31, 2024

Actual

-0.8

Units In

1.7

Frequency

Quarterly

Next Release

Oct 03, 2025

Time to Release

2 Months 18 Days 16 Hours

Highest	Lowest	Average	Date Range	Source
14.2 Jun 2021	-18.4 Jun 2020	0.55 %	1997-2024	Statistical Institute of Jamaica

Jamaica, is a small island nation situated in a strategic position near the Panama Canal, and one of the slowest growing economy in the Caribbean. Services, with tourism employing 10 percent of the population, is the most important sector of the economy and accounts for around 60 percent of GDP.

Latest Updates

The economy of Jamaica expanded by 1.1% year-on-year in the first quarter of 2025, rebounding from a 0.8% contraction in Q4 2024. The recovery was driven by a 2.0% increase in goods production, with all productive sectors posting gains — manufacturing (+1.7%), construction (+1.4%), mining and quarrying (+0.7%), and agriculture (+3.1%). In addition, the services sector grew by 0.8%, supported by increases across most industries. However, this was partially offset by declines in wholesale & retail trade, repair and installation of machinery (-0.8%), and real estate & business activities (-0.4%).