The Jamaican economy grew by 6.7% during the 4th quarter of 2021 when compared to the fourth quarter of 2020.
This was due to increases in both the Services Industries and the Goods Producing Industries of 9.0% and 0.5% respectively. Within the Goods Producing Industries, there were higher output levels for Agriculture, Forestry & Fishing of 13.8% and the Construction industry of 5.9%.
However, there were declines in the Manufacturing and Mining & Quarrying industries of 2.2% and 60.5% respectively. For Services, Hotels & Restaurants grew by 79.5%, Transport, Storage & Communication (10.1%), Wholesale & Retail Trade; Repairs; Installation of Machinery & Equipment (10.6%), Other Services (10.4%), Finance & Insurance Services (2.7%), Real Estate, Renting & Business Activities (2.1%) and Electricity & Water Supply (5.8%).
The economy grew by 1.4% in the fourth quarter of 2021 when compared to the third quarter of 2021. This was the sixth consecutive quarter of growth since a 15.6% decline in the second quarter of 2020. (STATIN)
Extract from CARICOM BUSINESS Newsletter Vol 5 No 14
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