Selected Economic Indicators (1)
Prel.
1998/99 1999/00 2000/01 2001/02 2002/03 2003/04
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(Annual percentage changes)
GDP, prices, and employment:
Real GDP -0.6 1.1 0.8 1.0 1.9 2.0
Nominal GDP 7.5 8.1 11.6 9.5 10.0 16.6
Consumer price index
(end of period) 6.0 8.4 6.4 7.6 6.2 16.8
Consumer price index
(average) 8.1 6.3 7.7 8.0 6.5 12.9
Exchange rate
(end of period,
in J$/US$) 4.9 10.6 8.3 4.0 18.2 8.1
End-of-period REER
(percent change,
depreciation +) -1.6 4.0 0.2 -3.9 14.3 -4.2
Unemployment rate
(in percent) 15.5 15.7 15.5 14.8 15.4 12.8
(In percent of GDP, unless otherwise indicated)
Government operations:
Budgetary revenue 25.8 29.1 29.1 27.0 28.1 29.9
Budgetary
expenditure 37.7 37.1 33.6 32.6 35.7 36.9
Of which:
interest payments 17.3 17.5 16.0 13.4 14.9 18.1
Budget balance -11.9 -8.1 -4.5 -5.6 -7.6 -7.0
Of which:
primary fiscal
balance 5.4 9.4 11.5 7.8 7.3 11.1
Off-budget
expenditure ... 0.5 0.3 0.5 3.2 1.9
Overall fiscal
balance -11.9 -8.6 -4.8 -6.1 -10.8 -8.9
Public debt 116.5 132.5 132.0 132.1 146.4 144.8
External sector:
Current account
Balance -2.0 -3.3 -4.8 -9.6 -14.9 -10.6
Of which:
exports of goods
,f.o.b. 20.0 19.9 20.5 17.8 15.6 17.3
Of which:
imports of goods
,f.o.b. 34.3 35.3 38.2 37.6 39.8 40.3
Net international reserves
(in millions of US$) 582 704 1,286 1,942 1,340 1,569
(Changes in percent of beginning of period broad money)
Money and credit:
Net foreign assets 2.6 12.5 23.0 24.3 -8.1 9.0
Net domestic assets 8.2 6.8 3.4 -14.3 15.6 11.3
Of which:
credit to the
central government -0.2 -9.5 26.6 71.2 8.2 9.0
Broad money 10.8 19.3 9.2 10.0 7.5 20.2
Interest rate (180 day BoJ
CD rate, end of period,
in percent per annum) 22.0 18.6 16.9 13.8 33.5 16.0
Velocity (ratio of GDP
to broad money) 2.7 2.4 2.4 2.6 2.7 2.6
Memorandum items:
Nominal GDP
(in billions of
Jamaica dollars) 287.4 310.8 346.8 379.8 417.7 486.9
Exchange rate
(end of period,
J$/US$) 38.1 42.2 45.7 47.6 56.2 60.8
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Sources: Jamaican authorities; and IMF staff estimates.
(1) Fiscal years run from April 1 to March 31.
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