Review of Jamaica’s Economic Performance October – December 2013

The Planning Institute of Jamaica (PIOJ) published an economic performance report dated February 19, 2014. 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:

Tourism
Real Value Added for Hotels & Restaurants grew by an estimated 5.6%
Total arrivals up 11.6%
Stopover arrivals up by 7.2%
Cruise passenger arrivals up 17.7%

Construction Industry
Real Value Added for Construction increased by 2.0%, reflecting higher levels of output for all components.
Building Construction estimated to have grown due to:
Increased housing starts up 50.0%
Increased value of Mortgages up 3.3%

Agriculture, Forestry & Fishing
The Agriculture, Forestry & Fishing industry grew by an estimated 10.0% due in part to:
Plantains up 41.8%
Condiments up 31.1%
Vegetables up 19.0%
Fruits up 11.2%
Potatoes up 8.6%

Mining & Quarrying
Real Value Added for Mining & Quarrying grew by 12.0% as a result of:
Total bauxite production increased by 8.2% reflecting:
Alumina production up 15.5%
Average capacity utilization rate at alumina refineries increased to 44.8%, up 6.0%
Increase in crude bauxite production by 2.9%

SOURCE: Planning Institute of Jamaica