The Jamaican Economy grew by 1.1 percent in the first Quarter of 2025, compared to the similar 2024 quarter. The critically important news is the sharp upward revision of the size of the local economy by Statistical Institute of Jamaica (Statin). The change arose from the adoption of new methodological updates and enhanced data sources, resulting in an average increase of 7.8 percent in the levels of the GDP from 2015 – 2023.

The change comes against the backdrop of concerns by many that the economy was growing much faster than the original official data suggested. ICInsider.com assessment of the adjustment, is that the economy is officially twice the size, as was previously thought.

This would mean that the country’s debt to GDP is now below 40 percent from just under 70 percent, as previously stated, and would, therefore, imply that there is no need for any more budgetary contraction. It would raise the per capita income well over the prior low levels of under US$8,000.

According to Statin, the quarterly GDP growth was due to increases in both the Goods and Services industries by 2.0 percent and 0.8 percent respectively. The Productive Sectors recorded increases in all the industries. Manufacturing grew 1.7 percent, the Construction industry up 1.4 percent, Mining and Quarrying by 0.7 percent, and Agriculture, Forestry and Fishing grew 3.1 percent.