The Planning Institute of Jamaica published an economic performance report dated November 20, 2013. This report covered the performances of different sectors of the economy such as agriculture, forestry & fishing, manufacture, construction and tourism.
Here are some of what you will find in the report:
Agriculture, Forestry & Fishing
The Agriculture, Forestry & Fishing industry grew by an estimated 5.0%, reflecting:
Other Agricultural Crops up 8.7% due to increases in six of the nine crop groups
Potatoes, up 22.2%; Condiments, up 16.1%; Legumes, up 15.2%
The smaller weighted components recorded contractions
Traditional Export crops, down 0.1%; Animal Farming, down 4.0%; and Post Harvest activities, down 51.6%
Real value added in the Finance & Insurance industry increased by 0.4% during the quarter, due largely to:
Increased net interest income at deposit taking institutions
Real increase in total assets at deposit taking institutions
Higher Fees and commission income
Gains on foreign exchange transactions.
Hotels & Restaurants
Real Value Added for Hotels & Restaurants grew by 0.8%.
This largely reflected Stopover arrivals, up by 0.7%.
Cruise passenger arrivals, down 9.8% resulting in
Total arrivals, down 2.7%
Provisional visitor expenditure, down 2.5% to US$475.6 million
The fiscal deficit was $0.5 billion for the quarter
This was $6.3 billion less than budgeted due to:
$0.6 billion (0.6 %) more than programmed revenue
$5.7 billion (5.5%) less than programmed expenditure
Revenue & Grants totalled $97.7 billion in July–September 2013, while Expenditure totalled $98.3 billion.
The average nominal exchange rate at the end of September 2013 was $103.60 per US$1.00, representing 2.14% nominal depreciation compared with end of June 2013.
This translates into a real exchange rate appreciation of 1.1% relative to the US dollar
SOURCE: Planning Institute of Jamaica