International Trade in Jamaica

International Trade in Jamaica

The growth rate increase in 2006 (2.7%) was short-lived; the global economic crisis provoked a growth contraction of 3% in 2009, which partially improved in 2010, resulting in a growth estimated at 0.1%. In general, the country's growth remains fragile when compared to the average of the... Read more

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Market Analyses About Jamaica (12)

Import and Export Services in Jamaica (34)

  • M & J Trading and Logistics

    M & J Trading and Logistics

    Export Documentation, Jamaica

    We are an ocean freight consolidator and shipping agent with main operations in Tampa, Florida and other US ports locations. A true...
  • Escrow.com

    Escrow.com

    Payment Solutions, Jamaica

    Since 1999, Escrow.com has established itself as the leading provider of secure business and consumer transaction management across the...

Business Tips About Jamaica (1)

Agents and Distributors in Jamaica (1)

  • Jiangsu FeiZheng package company
    We were founded in 1994s.We have abundant professional production  experience and advanced imported machines,we are always walking...

Overview About International Trade in Jamaica

Economic Overview

The growth rate increase in 2006 (2.7%) was short-lived; the global economic crisis provoked a growth contraction of 3% in 2009, which partially improved in 2010, resulting in a growth estimated at 0.1%. In general, the country's growth remains fragile when compared to the average of the Caribbean countries. 

The main challenge that the country has to face is its debt burden, which strongly encumbers its development. The government aims to privatize the public enterprises in order to reduce its budget deficit, and it is conducting a program aiming to increase its competitiveness. I stand-by accord was signed with the IMF in February 2010, including a reforms program aimed at restoring fiscal viability and making the economy more resistant to external shocks.

In the last recent years, living conditions have improved in terms of having access to basic services, education and health care. However, crime and delinquency are reaching high and unbearable levels and the unemployment rate, which has increased due to the crisis, is very high (12%).

 

FDI in Figures

Foreign investment in Jamaica, which had been steady in the last few years, slightly receded in 2009 due to the s...

News Related to International Trade in Jamaica

  • Brazil, Jamaica and Uruguay expand their capacity to fight international tax avoidance and evasion - Sep 02, 2019

    Jamaica and Uruguay today signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters and Brazil deposited its instrument of ratification of the Convention on the occasion of the launch of the OECD’s Latin American and Caribbean Regional Programme and the OECD Ministerial Council Meeting.

    Source: OCDE

  • Jamaica reduces Goods and Sales Tax GST 2012 - Mar 27, 2019

    As part of a wide range of tax reforms, Jamaica is set to cut its Goods and Services Tax rate from 17.5% to 16.5% in June 2012. A Green Paper has been compiled earlier in 2011 spelling out a host o

    Source: VAT Live

  • Jamaica General Consumption Tax changes - Mar 27, 2019

    The Jamaica General Consumption Tax (GCT) Act 2014 is set to introduce a range of changes to the indirect tax regime. GCT operates like VAT, and is generally charged at 16.5%. The changes include:

    Source: VAT Live