Jamaica has registered it’s best annual growth numbers in over a decade.
That’s the latest projection from the Planning Institute of Jamaica, PIOJ. Director General of the PIOJ, Dr. Wayne Henry, gave the update at the entity’s quarterly media briefing this afternoon. Six years of positive GDP growth and a 12-year high has topped off Jamaica’s economic performance for 2018.
PIOJ Director General, Wayne Henry says Jamaica ended the year with 1.7 per cent growth for the October to December Quarter and 1.8 per cent for the year.
According to Dr. Henry every sector of the economy registered positive gains both for the quarter and the year.
This was led primarily by mining which registered a whopping 23 per cent growth for 2018. It’s followed by Construction and Agriculture which registered modest 3.5 per cent and 2.6 per cent growth figures respectively.
Tourism is also doing well with record stopover arrivals and increased tourist spend contributing a 2.5 per cent boost to Hotel and Restaurants. Dr. Henry says Jamaica remains on the right track and things look good for the near future.
He’s also projecting long term positive gains, provided Jamaica manages its downside risks.