Jamaica: Economic Outlook & GDP

The Jamaican economy grew by 1.4 per cent during the first quarter of 2024 when compared to the similar quarter of 2023. This growth was driven by an increase of 1.3 per cent in the Services Industries and 1.9 per cent in the Goods Producing Industries
The growth in the Goods Producing Industries was primarily driven by increased output in Agriculture, Forestry & Fishing (7.4%) and Mining & Quarrying (18.7%). However, there were declines in Manufacturing (0.8%) and Construction (3.7%).
The growth in the Goods Producing Industries was primarily driven by increased output in Agriculture, Forestry & Fishing (7.4%) and Mining & Quarrying (18.7%). However, there were declines in Manufacturing (0.8%) and Construction (3.7%).
When compared to the fourth quarter of 2023, the economy grew by 0.3 per cent. This was due to growth in the Services and Goods Producing Industries of 0.1 per cent and 0.8 per cent respectively. The economy grew by 1.9 per cent for the fiscal year 2023/2024 compared to the fiscal year 2022/2023.
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