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    Jamaica Econom�a 2000

      Econom�a - descripci�n: Key sectors in this island economy are bauxite (alumina and bauxite account for more than half of exports) and tourism. Since assuming office in 1992, Prime Minister PATTERSON has eliminated most price controls, streamlined tax schedules, and privatized government enterprises. Continued tight monetary and fiscal policies have helped slow inflation - although inflationary pressures are mounting - and stabilize the exchange rate, but have resulted in the slowdown of economic growth (moving from 1.5% in 1992 to 0.5% in 1995). In 1996, GDP showed negative growth (-1.4%) and remained negative through 1999. Serious problems include: high interest rates; increased foreign competition; the weak financial condition of business in general resulting in receiverships or closures and downsizings of companies; the shift in investment portfolios to non-productive, short-term high yield instruments; a pressured, sometimes sliding, exchange rate; a widening merchandise trade deficit; and a growing internal debt for government bailouts to various ailing sectors of the economy, particularly the financial sector. Depressed economic conditions in 1999 led to increased civil unrest, including a mounting crime rate. Jamaica's medium-term prospects will depend upon encouraging investment in the productive sectors, maintaining a competitive exchange rate, stabilizing the labor environment, selling off reacquired firms, and implementing proper fiscal and monetary policies.

      Producto Bruto Interno (PBI): purchasing power parity - $8.8 billion (1999 est.)

      PBI - Indice de Incremento real: -0.5% (1999 est.)

      PBI - por capital: purchasing power parity - $3,350 (1999 est.)

      PBI - Composici�n por Sector:
      agriculture: 7.4%
      industry: 42.1%
      services: 50.5% (1997 est.)

      Poblaci�n bajo linea de pobertad: 34.2% (1992 est.)

      Ingreso en casa o porcentage de consumci�n:
      lowest 10%: 2.4%
      highest 10%: 31.9% (1991)

      Indice de Inflaci�n (precios del consumidor): 9.4% (1999 est.)

      Fuerza Laboral: 1.13 million (1998)

      Fuerza Laboral - por ocupaci�n: services 60%, agriculture 21%, industry 19% (1998)

      Indice de desempleo: 15.5% (1998)

      Presupuesto:
      revenues: $2.27 billion
      expenditures: $3.66 billion, including capital expenditures of $1.265 billion (FY98/99 est.)

      Industrias: tourism, bauxite, textiles, food processing, light manufactures, rum, cement, metal, paper, chemical products

      Industrial production growth rate: NA%

      Electricidad - Producci�n: 6.386 billion kWh (1998)

      Electricidad - producci�n por fuente:
      fossil fuel: 92.7%
      hydro: 2.21%
      nuclear: 0%
      other: 5.09% (1998)

      Electricidad - consumci�n: 5.939 billion kWh (1998)

      Electricidad - exportaciones: 0 kWh (1998)

      Electricidad - importaciones: 0 kWh (1998)

      Agricultura - productos: sugarcane, bananas, coffee, citrus, potatoes, vegetables; poultry, goats, milk

      Exportaciones: $1.4 billion (f.o.b., 1999 est.)

      Exporationes - comodidades: alumina, bauxite, sugar, bananas, rum

      Exportaciones - socios: US 39.5%, EU (excluding UK) 15.6%, UK 12.1%, Canada 11.5% (1998)

      Importaciones: $2.7 billion (f.o.b., 1999 est.)

      Importaciones - comodidades: machinery and transport equipment, construction materials, fuel, food, chemicals, fertilizers

      Importaciones - socios: US 50.9%, EU (excluding UK) 9.5%, Caricom countries 10.4%, Latin America 6% (1998)

      Deuda - externa: $3.8 billion (1998 est.)

      Ayuda economica - recipiente: $102.7 million (1995)

      Moneda: 1 Jamaican dollar (J$) = 100 cents

      Indice de intercambio: Jamaican dollars (J$) per US$1 - 41.139 (December 1999), 9.044 (1999), 36.550 (1998), 35.404 (1997), 37.120 (1996), 35.142 (1995)

      A�o Fiscal: 1 April - 31 March

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    Revisto 01-Nov-00
    Copyright © 2000 Photius Coutsoukis (all rights reserved)


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