Jamaica

In 2003 the Jamaican economy recorded its highest growth rate in a decade (2.1%). This achievement was attributable to the continued buoyancy of the mining sector (4.8%) and to an upturn in activities linked to tourism and agriculture (5.7%). The economic performance of the real sector, however, was adversely affected by the climate of uncertainty and the loss of confidence in the local currency observed in the first half of 2003, which resulted in a sharp exchange-rate depreciation. These developments were triggered by the official announcement in December 2002 that the deficit estimated for fiscal year 2002, at 7.6% of GDP, would far exceed the target set by the authorities (4% of GDP).

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Peace, Justice and Strong Institutions