Jamaica recorded a Current Account deficit of 2.80 percent of the country's Gross Domestic Product in 2018. Current Account to GDP in Jamaica averaged -8.02 percent from 1998 until 2018, reaching an all time high of -1.20 percent in 2016 and a record low of -20.40 percent in 2008.

Current Account to GDP in Jamaica is expected to be -2.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Jamaica Current Account to GDP is projected to trend around -2.80 percent in 2020, according to our econometric models.

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Jamaica Current Account to GDP

Actual Previous Highest Lowest Dates Unit Frequency
-2.80 -2.60 -1.20 -20.40 1998 - 2018 percent Yearly

Jamaica Current Account to GDP
The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.

Jamaica Trade Last Previous Highest Lowest Unit
Balance of Trade -1204823.00 -1187714.31 -121925.00 -1682375.00 USD Thousand [+]
Current Account -51.88 -111.45 153.47 -536.06 USD Million [+]
Current Account to GDP -2.80 -2.60 -1.20 -20.40 percent [+]
Imports 1641498.00 1664767.31 2437559.00 395093.00 USD Thousand [+]
Exports 436675.00 477053.00 796371.00 244067.00 USD Thousand [+]
Remittances 2345.80 2329.60 2345.80 968.00 USD Million [+]
Terrorism Index 0.47 1.09 1.09 0.00 [+]
Tourist Arrivals 348022.00 305440.00 487651.00 102095.00 people [+]
External Debt 14006.29 13916.73 14754.06 8782.88 USD Million [+]
Capital Flows 194.05 -80.04 2187.69 -689.27 USD Million [+]
Foreign Direct Investment 151.31 197.10 273.82 68.70 USD Million [+]