Jamaica info provides the necessary inputs about Jamaican industries, Jamaican currency and Jamaican economy as a whole. Jamaican economy is primarily dependent on natural resources(specifically bauxite), agriculture and tourism industry.
Before 1940, economy of Jamaica was largely dependent on agricultural products, specifically sugarcane. At that time, Sugarcane and bananas were the major agricultural produce which were exported to different countries. The discovery of bauxite in 1940 facilitated the formation of bauxite-alumina industry and consequently Jamaican economy started depending on bauxite-alumina industry, rather than sugarcane and banana exports.
Bauxite – alumina started to contribute the largest possible amount of export revenues earned by Jamaica.
In 2000, after a long period of sluggishness, Jamaican economy experienced its first year of positive growth.
Jamaica info about exported products
Major exported products in Jamaica are alumina, bauxite, sugarcane, sugar, bananas and rum. Leading trading partners of Jamaica in respect of exports are the United States of America, European Union (specifically United Kingdom) and Canada.
Jamaica info about imported products
Jamaica imports commodities like machinery and transport equipments, fuel, chemicals, fertilizers etc. mostly from United States, European Union and South America.
The Major industries which comprise of the Industrial Economy of Jamaica sectors are bauxite-alumina, tourism, textiles, food processing, manufacturing, paper, cement, metal and chemical industry. Tourism is a booming industry in Jamaica and the Jamaican economy depends on the tourism industry to a considerable extent.
Major agricultural products in Jamaica are sugarcane, bananas, coffee, citrus, potatoes and vegetables.
GDP – real growth rate: 1.9% (2004 est.). Agriculture contributed 6.1% of overall GDP, industry contributed 32.7% and service sector contributed 61.3% of overall GDP.
The currency of Jamaica is Jamaican Dollar(JMD). 1 US Dollar is equal to 69.10000 Jamaican Dollar and 1 Jamaican Dollar (JMD) is equal to 0.01447 US Dollar (USD), as on Wednesday, September 12, 2007.
Last Updated on : 25th June 2013