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- Economy_of_Jamaica abstract "Jamaica has natural resources, primarily bauxite, and an ideal climate conducive for agriculture and also tourism. The discovery of bauxite in the 1940s and the subsequent establishment of the bauxite-alumina industry shifted Jamaica's economy from sugar and bananas. By the 1970s, Jamaica had emerged as a world leader in export of these minerals as foreign investment increased.The country faces some serious problems but has the potential for growth and modernization. The Jamaican economy suffered its fourth consecutive year of negative growth (0.4%) in 1999. All sectors excepting bauxite/alumina, energy, and tourism shrank in 1998 and 1999. In 2000, Jamaica experienced its first year of positive growth since 1995. Nominal economic growth has continued to the upside approximately in line with US growth since. This is the result of the government's continued tight macroeconomic policies, which have been largely successful[citation needed]. Inflation fell from 25% in 1995 to single digits in 2000, reaching a multidecade low of 4.3% in 2004. Through periodic intervention in the market, the central bank also has prevented any abrupt drop in the exchange rate. However, the Jamaican dollar has been slipping, despite intervention, resulting in an average exchange rate of J$73.40 per US$1.00 and J136.2 per €1.00 (February 2011). In addition, inflation has been trending upward since 2004 and is projected to once again reach a double digit rate of 12-13% through the year 2008 due to a combination of unfavorable weather damaging crops and increasing agricultural imports and high energy prices.Weakness in the financial sector, speculation, and lower levels of investment erode confidence in the productive sector. The government continues its efforts to raise new sovereign debt in local and international financial markets in order to meet its U.S. dollar debt obligations, to mop up liquidity to maintain the exchange rate and to help fund the current budget deficit.Jamaican Government economic policies encourage foreign investment in areas that earn or save foreign exchange, generate employment, and use local raw materials. The government provides a wide range of incentives to investors, including remittance facilities to assist them in repatriating funds to the country of origin; tax holidays which defer taxes for a period of years; and duty-free access for machinery and raw materials imported for approved enterprises. Free trade zones have stimulated investment in garment assembly, light manufacturing, and data entry by foreign firms. However, over the last 5 years, the garment industry has suffered from reduced export earnings, continued factory closures, and rising unemployment. This may be attributed to intense competition, absence of North American Free Trade Agreement (NAFTA) parity, drug contamination delaying deliveries, and the high cost of operation, including security costs. The Government of Jamaica hopes to encourage economic activity through a combination of privatization, financial sector restructuring, reduced interest rates, and by boosting tourism and related productive activities.In April 2014, the Governments of Jamaica and China signed the preliminary agreements for the first phase of the Jamaican Logistics Hub (JLH) - the initiative that aims to position Kingston as the fourth node in the global logistics chain, joining Rotterdam, Dubai and Singapore, and serving the Americas. The Project, when completed, is expected to provide many jobs for Jamaicans, Economic Zones for multinational companies and much needed economic growth to alleviate the country's heavy debt-to-GDP ratio. Strict adherence to the IMF's refinancing programme and preparations for the JLH has favourably affected Jamaica's credit rating and outlook from the three biggest rating agencies.".
- Economy_of_Jamaica thumbnail Downtown_Kingston_waterfront.jpg?width=300.
- Economy_of_Jamaica wikiPageExternalLink Summary.
- Economy_of_Jamaica wikiPageExternalLink ict-bpo.
- Economy_of_Jamaica wikiPageID "15665".
- Economy_of_Jamaica wikiPageRevisionID "606641990".
- Economy_of_Jamaica aid "recipient: $102.7 million".
- Economy_of_Jamaica averageGrossSalary "J$272,604".
- Economy_of_Jamaica averageNetSalary "J$255,021".
- Economy_of_Jamaica caption Kingston,_Jamaica.
- Economy_of_Jamaica cianame "jm".
- Economy_of_Jamaica country "Jamaica".
- Economy_of_Jamaica credit Fitch_Ratings.
- Economy_of_Jamaica credit Moody's_Investors_Service.
- Economy_of_Jamaica credit Standard_&_Poor's.
- Economy_of_Jamaica credit "B".
- Economy_of_Jamaica credit "B-".
- Economy_of_Jamaica credit "B3".
- Economy_of_Jamaica credit "Outlook: Positive".
- Economy_of_Jamaica credit "Outlook: Stable".
- Economy_of_Jamaica currency Jamaican_dollar.
- Economy_of_Jamaica debt "126.5".
- Economy_of_Jamaica edbr "88".
- Economy_of_Jamaica expenses "4.744E9".
- Economy_of_Jamaica exportGoods "alumina, bauxite, sugar, rum, coffee, yams, beverages, chemicals, wearing apparel, mineral fuels".
- Economy_of_Jamaica exportPartners "38.7".
- Economy_of_Jamaica exportPartners "5.6".
- Economy_of_Jamaica exportPartners "7.8".
- Economy_of_Jamaica exportPartners "8.1".
- Economy_of_Jamaica exports "1.718E9".
- Economy_of_Jamaica foreignReserves "2.45E9".
- Economy_of_Jamaica gdp "2.518E10".
- Economy_of_Jamaica gini "45.5".
- Economy_of_Jamaica grossExternalDebt "1.46E10".
- Economy_of_Jamaica growth "2.3".
- Economy_of_Jamaica hasPhotoCollection Economy_of_Jamaica.
- Economy_of_Jamaica importGoods "food and other consumer goods, industrial supplies, fuel, parts and accessories of capital goods, machinery and transport equipment, construction materials".
- Economy_of_Jamaica importPartners "11.9".
- Economy_of_Jamaica importPartners "14.4".
- Economy_of_Jamaica importPartners "14.8".
- Economy_of_Jamaica importPartners "30.1".
- Economy_of_Jamaica imports "6.356E9".
- Economy_of_Jamaica industries "tourism, bauxite/alumina, food processing, light manufactures, rum, cement, metal, paper, chemical products, telecommunications".
- Economy_of_Jamaica inflation "6.8".
- Economy_of_Jamaica labor "1325000".
- Economy_of_Jamaica organs Bank_of_Jamaica.
- Economy_of_Jamaica perCapita "9199.0".
- Economy_of_Jamaica poverty "16.5".
- Economy_of_Jamaica revenue "3.982E9".
- Economy_of_Jamaica sectors "agriculture: 6.6 %; industry: 29.9%; services: 63.5%".
- Economy_of_Jamaica unemployment "14.9".
- Economy_of_Jamaica width "270".
- Economy_of_Jamaica year "--04-01".
- Economy_of_Jamaica subject Category:Economy_of_Jamaica.
- Economy_of_Jamaica subject Category:World_Trade_Organization_member_economies.
- Economy_of_Jamaica comment "Jamaica has natural resources, primarily bauxite, and an ideal climate conducive for agriculture and also tourism. The discovery of bauxite in the 1940s and the subsequent establishment of the bauxite-alumina industry shifted Jamaica's economy from sugar and bananas. By the 1970s, Jamaica had emerged as a world leader in export of these minerals as foreign investment increased.The country faces some serious problems but has the potential for growth and modernization.".
- Economy_of_Jamaica label "Economia da Jamaica".
- Economy_of_Jamaica label "Economy of Jamaica".
- Economy_of_Jamaica label "Economía de Jamaica".
- Economy_of_Jamaica label "Économie de la Jamaïque".
- Economy_of_Jamaica label "Экономика Ямайки".
- Economy_of_Jamaica sameAs Economía_de_Jamaica.
- Economy_of_Jamaica sameAs Économie_de_la_Jamaïque.
- Economy_of_Jamaica sameAs Economia_da_Jamaica.
- Economy_of_Jamaica sameAs m.0119by8d.
- Economy_of_Jamaica sameAs Q2395393.
- Economy_of_Jamaica sameAs Q2395393.
- Economy_of_Jamaica wasDerivedFrom Economy_of_Jamaica?oldid=606641990.
- Economy_of_Jamaica depiction Downtown_Kingston_waterfront.jpg.
- Economy_of_Jamaica isPrimaryTopicOf Economy_of_Jamaica.