Academics

Jamaican Economy

The Jamaican economy relies heavily on services, which accounts for 60% of the gross domestic product. Most of the foreign exchange comes from tourism, allowances and bauxite/alumina. The economy struggles with long term problems of high interest rates, Popular Tourist Beach in Jamaica increasing foreign competition, a large merchandise trade deficit, large-scale unemployment and a growing internal debt. Inflation is high and uncertain economic conditions have led to increased civil unrest. Despite these and other factors such as hurricanes, the tourism industry thrives and enjoys solid growth.

The main agriculture products include: sugarcane, bananas, coffee, citrus fruits, yams, vegetables, poultry, goats, milk, crustaceans and mollusks. The leading industries are: tourism, bauxite/alumina, textiles, agro processing, wearing apparel, light manufactures, rum, cement, metal, paper, chemical products and telecommunications.

The current exchange rate is $63.00 Jamaican for $1.00 American.