ECO BOUNTY PARKS

JAMAICA PROJECT

ECO Bounty Park Jamaica Project

 

History of Jamaica

 Jamaica, originally inhabited by the Arawaks, was discovered by Christopher Columbus in 1494.

The island was colonized by the Spanish and later the British, leading to a significant African slave population.

Jamaica gained independence from the UK in 1962 with Kingston as its capital and became a member of the Commonwealth, 

Jamaica has a population pf 2.8 million with a diaspora of 2.7 million living in the US, Canada and UK.

The Economy

Jamaica has a mixed economy where sectors like agriculture are dwarfed by services dominated by tourism and finance.

Tourism is a major sector of Jamaica’s economy, contributing over 30% of the country’s GDP and providing a third of its jobs. 

Mining is a leading earner of foreign exchange for Jamaica. The discovery of bauxite in the 1940s shifted Jamaica’s economy from sugar and bananas. 
In 2022, Jamaica’s exports were led by refined petroleum, petroleum gas, aluminum oxide, aluminum ore, and hard liquor. The top export partners were the United States, Russia, Canada, United Kingdom, and Iceland.
In 2022, Jamaica’s imports were led by the United States, China, Trinidad and Tobago, Brazil, and Turkey. 

The Role of Agriculture

While the agriculture sector is only some 8% of GDP, the sector consistes of over 255,000 farmers with an average farm size of 2 ha.

Agriculture employs over 15% of the labour force and 46% of the land area.

Major export crops are sugar, bananas, coffee, citrus, cocoa and hot peppers.

Key Economic Indicators

Population (millions)

%

Inflation

%

Unemployment Rate

%

Youth Unemployment Rate

GDP Current Price (USD billons, IMF)

GDP Purchasing Power Parity (USD billons, IMF)

GDP per Capita Current Price (USD billons, IMF)

GDP per Capita Purchasing Power Parity (USD billons, IMF)