• 1-800-526-8630U.S. (TOLL FREE)
  • 1-917-300-0470EAST COAST U.S.
  • +353-1-416-8900REST OF WORLD
Country Report Jamaica Product Image

Country Report Jamaica

  • ID: 2105438
  • January 2015
  • Region: Jamaica
  • 24 Pages
  • The Economist Intelligence Unit

Jamaica's current account recorded a deficit of US$324.3m in July-September 2014, US$1.9m less than the deficit of US$326.2m in the same quarter of 2013.

The slight improvement was the result of a 5.4% increase in goods and services exports, to US$1.03bn, which offset a 2% increase in goods and services imports, to US$1.84bn. This resulted in a goods and services deficit of US$809.7m (down from US$826.2m a year earlier). Merchandise exports increased as a result of greater revenue from alumina and also of some food products. Growth in imports was driven by increased purchases of mineral fuel and chemicals, but this was partly offset by lower imports for foodstuffs as output in the agricultural sector began to recover from drought earlier in the year. Nonetheless, the goods deficit increased to US$931.5m, up by 1% from a year earlier.

The services balance improved, however, to US$121.7m, almost 30% better than a year earlier. This was largely the result of stronger inflows from tourism. There was deterioration in the primary income balance, which posted a deficit of US$94.7m (more than double that of the same 2013 period), owing to larger net outflows of investment income, particularly related to profit repatriation from the mining and quarrying sector. However, the current transfers surplus increased, to US$580.1m (up by almost 7% year on year), as remittances from workers abroad improved.

Note: Product cover images may vary from those shown

Country Report Jamaica

Current-account deficit shrinks slightly in Q3 2014
Event
Analysis
Impact on the forecast

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

RELATED PRODUCTS

Our Clients

Aol, Inc. Accenture PLC. Unilever N.V. Nestle S.A. KPMG Roland Berger Strategy Consultants