home
***
CD-ROM
|
disk
|
FTP
|
other
***
search
/
TIME: Almanac 1990
/
1990 Time Magazine Compact Almanac, The (1991)(Time).iso
/
time
/
world
/
j
/
jamaica.4
< prev
next >
Wrap
Text File
|
1991-04-08
|
3KB
|
69 lines
Economy
Overview: The economy is based on sugar, bauxite, and tourism.
In 1985 it suffered a setback with the closure of some facilities
in the bauxite and alumina industry, a major source of hard
currency earnings. Since 1986 an economic recovery has been
under way. In 1987 conditions began to improve for the bauxite
and alumina industry because of increases in world metal
prices. The recovery has also been supported by growth in
the manufacturing and tourism sectors. In September 1988,
Hurricane Gilbert inflicted severe damage on crops and the
electric power system, a sharp but temporary setback to
the economy. By October 1989 the economic recovery from
the hurricane was largely complete and real growth was up
about 3% for 1989.
GDP: $3.8 billion, per capita $1,529; real growth rate 3.0%
(1989 est.).
Inflation rate (consumer prices): 15% (1989).
Unemployment rate: 18.7% (1988).
Budget: revenues $1.1 billion; expenditures $1.5 billion,
including capital expenditures of $NA (FY88 est.).
Exports: $948 million (f.o.b., 1989 est.); commodities--bauxite,
alumina, sugar, bananas; partners--US 40%, UK, Canada, Trinidad
and Tobago, Norway.
Imports: $1.6 billion (c.i.f., 1989 est.); commodities--petroleum,
machinery, food, consumer goods, construction goods; partners--US
46%, UK, Venezuela, Canada, Japan, Trinidad and Tobago.
External debt: $4.4 billion (1989 est.).
Industrial production: growth rate 3% (1989 est.).
Electricity: 1,437,000 kW capacity; 2,390 million kWh produced,
960 kWh per capita (1989).
Industries: tourism, bauxite mining, textiles, food processing,
light manufactures.
Agriculture: accounts for about 9% of GDP, one-third of
work force, and 17% of exports; commercial crops--sugarcane,
bananas, coffee, citrus, potatoes, and vegetables; livestock
and livestock products include poultry, goats, milk; not
self-sufficient in grain, meat, and dairy products.
Illicit drugs: illicit cultivation of cannabis has decreased,
with production shifting from large to small plots and nurseries
to evade aerial detection and eradication.
Aid: US commitments, including Ex-Im (FY70-88), $1.1 billion;
Western (non-US) countries, ODA and OOF bilateral commitments
(1970-87), $1.2 billion; OPEC bilateral aid (1979-89), $27
million; Communist countries (1974-88), $349 million.
Currency: Jamaican dollar (plural--dollars); 1 Jamaican
dollar (J$) = 100 cents.
Exchange rates: Jamaican dollars (J$) per US$1--6.5013 (January
1990), 5.7446 (1989), 5.4886 (1988), 5.4867 (1987), 5.4778
(1986), 5.5586 (1985).
Fiscal year: 1 April-31 March.