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Economy

Overview

Jamaica has a mixed economy, primarily service-based, with tourism as its main pillar along with other sectors like agriculture, mining, and financial services; combining elements of private enterprise with government regulation and planning. Tourism is the largest contributor to Jamaica's economy, accounting for a significant portion of its GDP. Jamaica's GDP is $26.06 billion (2017 est.), and Jamaica's GDP per capita is $9,200 (2017 est.). This is lower than many of its surrounding countries such as Haiti and Cuba.

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The major imports of Jamaica consist of consumer goods, industrial products, fuel, parts and accessories of capital goods, machinery and transport equipment, and construction materials. Jamaica trades and sells stuff like aluminum, bauxite, chemicals, coffee, mineral fuels, waste and scrap metals, sugar, and yams to get these items.

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The agriculture is diverse and includes products such as sugar cane, bananas, coffee, citrus, yams, ackees, vegetables; poultry, milk, and shellfish. Jamaica’s major industries include agriculture, tourism, mining, manufacturing, and financial services. Some high-end companies in Jamaica include National Commercial Bank Jamaica Ltd (NCB), and Scotiabank Jamaica. Insurance companies such as Sagicor Life Jamaica, and Sagicor Group Jamaica. Telecommunications companies namely Digicel Jamaica, and FLOW Jamaica. And lastly, agricultural companies including Jamaica Broilers Group Limited, and Caribbean Cement Company.

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Jamaica's ecosystem is primarily characterized by lush tropical rainforests in the mountain regions and a diverse plant life that includes endemic species, along with coastal ecosystems like coral reefs, mangroves, and sandy beaches, everything supported by warm, humid tropical climate.

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Aluminum - Export

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Mineral Fuels - Export

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Bauxite - Export

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Waste and Scrap Metals - Export

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Chemicals - Export

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Sugar - Export

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Coffee - Export

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Yams - Export

Works Cited

“World Geography & Culture Online - Facts and Figures Page.” Infobase.com, 2017, fofweb.infobase.com/WGCO/FactsFigsGeo.aspx?Page=37&Subject=Economy&iPin=M0019798. Accessed 24 Feb. 2025.

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