JAMAICA

Economic revival, but the road ahead is fraught with challenges

C2

MEDIUM RISK

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

The country risk assessments are your North Star metrics to make the right decision for your business and understand the risks in international trade. We have always the best solution for your needs

Swipe to view more

GDP USD14.768bn (World ranking 120, World Bank 2017)
Population 2.89mn (World ranking 137, World Bank 2017)
Form of state Constitutional Parliamentary Democracy (Commonwealth)
Head of government Andrew Holness (Jamaica Labour Party, Prime Minister)
Next elections 2021, legislative
  • Numerous supports from international institutions, namely the World Bank, the IMF
  • Natural resources and tourism
  • Fairly high remittances from the diaspora -> nearly 20% of GDP (71% of remittances come from the USA)
  • High dependence on US economy
  • Sensitiveness to commodity prices (Bauxite notably: 47% of exports)
  • Little diversified economy
  • High public debt

Trade structure by destination/origin

(% of total)

Exports Rank Imports
United States 41%
1
39% United States
Canada 12%
2
7% Trinidad and Tobago
Netherlands 10%
3
7% China
Russian Federation 6%
4
6% Japan
United Kingdom 4%
5
4% Mexico

Trade structure by product

(% of total)

Exports Rank Imports
Metalliferous ores and metal scrap 46%
1
19% Petroleum, petroleum products and related materials
Petroleum, petroleum products and related materials 14%
2
11% Road vehicles
Beverages 7%
3
4% Other industrial machinery and parts
Vegetables and fruits 6%
4
4% Miscellaneous manufactured articles, n.e.s.
Coffee, tea, cocoa, spices, and manufactures thereof 3%
5
4% Electrical machinery, apparatus and appliances, n.e.s.

Contact

Euler Hermes

Economic Research Team

research@eulerhermes.com

Georges Dib

Economist for Latin America, Spain and Portugal

georges.dib@eulerhermes.com

VIEW OUR SOLUTION