The output of the Jamaican economy, measured by gross domestic product, is the thirteenth largest in Latin America at an estimated US$ 14.7 billion. 64.7% of this figure is derived from the service industry.
The largest individual sectors of commerce are:
- mining (bauxite and alumina)
- agro processing
- light manufactures
- rum
- cement
- metal
- paper
- chemical products
- telecommunications
Remittances from Jamaicans abroad are also substantial, accounting for roughly 15% of GDP and making up much of the country’s foreign exchange reserves.
The Jamaican Labour force consists of 1.3 million people, or 48% of the total population.
The main trading partners for the island are:
- The United States
- The European Union (excluding the UK)
- The United Kingdom
- Canada
These are also the regions in which there are the largest populations of overseas Jamaicans.
Jamaica’s public debt stands at 126.5% of GDP (2011 est).
Average inflation rate is 7.7%, and the commerical banks lend money at approximately 14.3% (both 2011 est).
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