Has Jamaican economy fully recovered?

The Jamaican economy grew 6.4 percent in the first quarter of this year over a similar period in 2020, according to the Statistical Institute of Jamaica, overall GDP was still less than for the first quarter in 2020 but not far behind and with the faster pick up in visitor arrivals in the June quarter and its linkages to the rest of the economy GDP could be back to 2019 levels.

Image courtesy of arztsamui/FreeDigitalPhotos.net

The economic rebound is happening much faster than official reports suggested. Most likely, except for mining, the overall economy could exceed that of 2019, early data from the tourism sector for the June quarter suggests. The hotel and restaurant sector that grew 107 percent in the March quarter over 2022, with the tourist arrivals at just 72 percent of 2019 outturn. Data of visitor arrivals in the June quarter show the sector looks like it may come in around 97 percent of 2019 and will help push the industry to near full recovery compared to a 78 percent the hotel and restaurant sector represents in the 2022 first quarter versus 2019.  The only other sectors that are down significantly are mining at a mere 28 percent of 2019 and Other Services at 85 percent of that in 2019.

Agriculture is the best performing sector

Statin puts output for the economy in real terms at $189.9 billion at the end of March, just shy of the $191 billion for the first quarter of 2020 but 3 percent off the $195.7 billion in the 2019 first quarter. The economy would need to grow 7.3 percent in 2022 in the second quarter to equal the 2019 outturn of 197 billion.
The data for GDP going back to the early 21 century reveal that the country’s GDP growth has been anaemic as the 2019 GDP of $197 billion is just above the 2008 first quarter of $194 billion.

Xmas cash suggests higher growth – BOJ

Currency in circulating increased at a much faster pace that Bank of Jamaica projected in early December. According to the Central Bank “the faster currency growth possibly reflected improved GDP growth, employment and retroactive wage settlements during the period.”
During the last six days of December, Bank of Jamaica recorded net currency issue of $5.457 billion to financial institutions. This was substantially above the Bank’s projection for net issue of $412 million as well as the $860 million currency issue for the corresponding period of 2017 and average of $1,396 billion over the past 5 years. The currency issue for the week contributed to an overall growth of $23.6 billion or 21.4 per cent in the currency stock for December 2018, above the Bank’s projection for growth of $18 billion or 16.5 per cent. The increase for the month also exceeded that for December 2017 of 16.5 percent and was the largest growth in December since 2007.

Grace new HQ close to the end of construction in downtown Kingston

At the end December 2018, the currency stock amounted to $133.5 billion, representing an annual increase of 20.4 percent, compared to annual growth of 12.9 per cent at end December 2017. The Central Bank stated that “when the estimated change in consumer prices is taken into account, the real annual growth in currency at end-December 2018 was 15.9 per cent, compared to 7.3 per cent for the corresponding period in 2017”.
The Bank is anticipating, that most of the currency issued during December, will be redeemed in January. The release from the bank stated that, “for the last five years, net currency redemption in January averaged 75.8 per cent of the net currency issued in the preceding month.”

BOJ senses pick up in GDP growth

Image courtesy of arztsamui/FreeDigitalPhotos.net

Economic activity may has picked up pace in the latter half of the year compared with the first half, with a strengthening in real GDP growth and employment over the second half of the year, Bank of Jamaica is suggesting.
The central bank was commenting on the increase in money in circulation for December. “This projected acceleration in the growth in real currency demand for December 2018 is consistent with the higher growth rate that has been evident between August and November 2018,” the central bank stated. Economic growth in the June quarter was preliminarily placed at 2.2 per cent by the Statistical institute of Jamaica.
The bank went on to say, “when the forecasted change in the general level of consumer prices is taken into account, the projected real growth in currency for the 2018 is 10.5 percent, which is higher than the real growth of 7.3 percent for the previous year.”
The projected currency stock of $128 billion at end-December 2018 represents an annual growth of 15.5 percent, an acceleration when compared with the 12.9 percent recorded at December 2017.
Bank of Jamaica projects that the value of currency issued by the Bank will increase by approximately $18 billion (or 16.5 percent) in December 2018 to end the month. The central bank states that the projected growth for the month is broadly consistent with the 16.5 percent growth recorded for December 2017 as well as the five-year average growth rate of 17.3 percent for December.
BOJ net issued $4.2 billion in currency for December up to 14, this year (representing a 3.8 percent growth for the month to date). This compares to net currency issue of $1.4 billion over the same period in 2017.

Jamaican Economy grew 0.5% in 2017

Add your HTML code here...

Image courtesy of arztsamui/FreeDigitalPhotos.net

Preliminary estimate by the Statistical Institute of Jamaica (Statin) puts growth in the Jamaican economy at 0.5 percent for 2017, after it grew by 1.1 per cent in the fourth quarter compared to the similar 2016 quarter, data just released by Statin shows.
The result will be subject to revision when additional data is obtained. Growth in the final quarter, Statin stated “resulted from improved performances in both the Services Industries up by 1.1 percent and the Goods Producing Industries 1.2 percent.”
“All industries within the Services Industries recorded gains: Electricity & Water Supply, 0.4 percent, Hotels & Restaurants 5.8 percent, Transport, Storage & Communication 0.7 percent, Real Estate, Renting & Business Activities 0.8 percent, Wholesale & Retail Trade; Repairs; Installation of Machinery & Equipment 0.5 percent,

Growth in tourism was strong in 2017

Finance & Insurance Services 0.8 percent, Producers of Government Services 0.2 percent and Other Services 1.4 percent.”
The main contributors to growth in the Goods Producing Industries were Mining & Quarrying 14.7 percent, Manufacturing 0.3 percent and Construction 0.7 percent. The Mining & Quarrying industry benefitted from higher production levels at the alumina plants. The Manufacturing industry’s performance was attributed to increased output from both the Food, Beverages & Tobacco and Other Manufacturing sub-industries, due largely to the increase in beverages, bakery products and grain mill products.
However, Agriculture, Forestry & Fishing declined by 1.1 per cent. The performance of the Agriculture, Forestry & Fishing industry was impacted by heavy rainfall, the Statin report stated.

Обновили на порносайте pornobolt.tv порно страничку о том как парень выебал пизду мачехи, которая устала от своего муженька Комиксы, Манга читать онлайн на Русском языке

Brand new Partner with our doctors to make you happy is Omtogel RTP

Play Pin-up aviator Slots and e-Diet in Polska.