|Population:||2.950.210 (2015 est.)|
|Inflation:||7,1% (2014 est.)|
|GDP (Purchasing Power Parity):||$24.1 billion (2014 est.)|
|GDP (official Exchange rate):||($13.79 billion (2014 est.)|
|GDP per Capita:||$8,600(2014 est.)|
|Unemployment rate:||15.3% (2014 est.)|
|Total Employed Labour force:||1.311 Millions|
|Total Unemployed Labour Force:||200.583 (2014 est.)|
|Major Imports||Mineral fuels; machinery & transport equipment; food; chemicals; manufactured goods|
|Major Exports||Crude materials; mineral fuels; food|
|Jamaica’s main import trading partners (2015)||United States; Venezuela; Trinidad and Tobago; China; Mexico; Brazil; Japan; Canada, United Kingdom, Turkey|
|Key Productive Sectors:||Mining; Tourism; Agriculture; Agro–processing; Creative Industries; Manufacturing; Financial Services|
|Jamaica’s main export trading partners (2011)||United States; Canada; Russian ; U.A.E; Latvia; Netherlands; UK; Slovenia; Slovakia ; Italy; Republic of Georgia; Germany|
|Government Type||Constitutional Parliamentary Democracy|
|Governor General||His Excellency Michaelle Jean|
|Prime Minister||The Most Honourable Portia Simpson-‐Miller|
|Opposition Leader||The Honourable Andrew Holness|
Jamaica operates as a mixed free-‐market economy with both state and private sector participation in productive enterprise. The economy recorded GDP of US$13.7 billion in 2010 with the main sectors of the economy being Tourism, Agriculture and Agro-‐processing, Mining, Manufacturing, Creative Industries and Financial Services. The Services industries account for over 70 per cent of GDP.
The economy is driven by foreign direct investment (FDI) and foreign exchange earned through exports and remittances. Jamaica received an estimated US$201 million in FDIs in 2010. The most dynamic sectors in term of foreign direct investment (FDI) have been tourism, ICT and mining. The Jamaican Diaspora also contributes significantly to the economy through remittances, which amounted to over US$1.7 billion in 2009. Jamaica also boasts a developed tourism industry and continues to enjoy record levels of tourist arrivals.
Jamaica is also the largest English –speaking Caribbean island, and boast the distinct qualities of a vibrant emerging market with enormous possibilities for trade and inward investment. Its comparative advantages that attract strategic investors and tourist include natural beauty, geographical location (only one hour and twenty minutes by air from Miami), time zone, English-‐speaking skilled labour force, strong financial services sector, the world’s seventh-‐largest natural habour and mineral resource endowments, as well as a spirit of enterprise and well-‐established traditions of democracy and accountability.
Accurately represented by its motto, “Out of Many one People”, Jamaica has a dynamic mix of different ethnicities, which has contributed to the country’s unique culture. The people are mostly of black (African) descent (91.6%), However, the population also consists of East Indians (0.9%), whites (0.2%) Chinese (0.2%),and mixed race (6.2%). Renowned for its popular music-‐reggae-‐the country has also gained international recognition through sports, dance and other cultural activities
The Literacy rate in Jamaica is 87.9%. The educational structure in the country is largely based on that of Great Britain. Children begin infant school at age three (3) and move on to the primary level at around age six (6). Primary school begins at grade 1 and ends at grade six (6), while high school ends at grade eleven (11), with an option of what is considered sixth form for two years after which they may opt to attend university. It must be noted though that some schools do not have the option of sixth form and student can either chose to attend another sixth form of go on to what is called a community college.
According to the Economic and Social Survey of Jamaica (ESSJ-‐2010), output of tertiary institutions totalled 13,244 (71.6 per cent female).The report also identified that there are 199 secondary/high schools; 84 vocational, technical and agricultural high schools; 116 community and business colleges; 5 teachers’ colleges; and 8 universities.
Core labour standards are generally respected in Jamaica; and the country has ratified all 8 core ILO Labour Conventions.
There are over 50 media houses in Jamaica, ranging from larger television and radio stations to small cable stations that have local Jamaican programming. The media houses listed below are considered to be the more prominent of these.
Targeted Sectors for Investment
Tourism; Manufacturing; Energy;
Agro-‐processing/Agri-‐business; Creative Industries;
Targeted Sectors for Export
Service Sectors: Tourism;
ICT (BPO) services; Creative Industries; Professional services
International Financial services
Business services Merchandise Sectors:
Fresh / Processed foods Beverages
Nutraceuticals (primarily nutraceutical ingredients, and spa and aromatherapy products) Minerals (excluding bauxite)
Art and Craft
Bilateral Investment Agreements /International Investment Agreements signed:
Jamaica has investment treaties with the United States (Feb. 1994, which came into force in March 1997), Argentina (Feb. 1994), France (Jan. 1993), Italy (Sept. 1993), Germany (Sept. 1992), Netherlands
(Apr. 1991), Switzerland (Dec. 1990), the United Kingdom (Jan. 1987), China (1998), Cuba (May 1997),
Egypt (Feb. 1999), Indonesia (Feb. 1999), Zimbabwe (Feb. 1999) South Korea (2003), Spain (2002) Nigeria (2002) and Kuwait (2013)
Double Taxation Agreements signed
Jamaica has signed and ratified double taxation agreements with the U.S., Canada, CARICOM, China, Switzerland, Germany, Israel, Norway, Spain, Sweden, Denmark, France and the United Kingdom.
Regional trade Agreements
Treaty Establishing the Caribbean Community and Common Market (CARICOM) Revised Treaty of Chaguaramas -‐ CSME
Free Trade Area Agreement -‐ CARICOM / Dominican Rep. (CARIFORUM) FTA Agreement -‐ CARICOM / Colombia
FTA Agreement -‐ CARICOM / Venezuela
EC-‐CARIFORUM Economic Partnership Agreement (also speaks to investment) WTO (Marrakesh Treaty)