Jamaica | GDP (current US$)

GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. Limitations and exceptions: Gross domestic product (GDP), though widely tracked, may not always be the most relevant summary of aggregated economic performance for all economies, especially when production occurs at the expense of consuming capital stock. While GDP estimates based on the production approach are generally more reliable than estimates compiled from the income or expenditure side, different countries use different definitions, methods, and reporting standards. World Bank staff review the quality of national accounts data and sometimes make adjustments to improve consistency with international guidelines. Nevertheless, significant discrepancies remain between international standards and actual practice. Many statistical offices, especially those in developing countries, face severe limitations in the resources, time, training, and budgets required to produce reliable and comprehensive series of national accounts statistics. Among the difficulties faced by compilers of national accounts is the extent of unreported economic activity in the informal or secondary economy. In developing countries a large share of agricultural output is either not exchanged (because it is consumed within the household) or not exchanged for money. Statistical concept and methodology: Gross domestic product (GDP) represents the sum of value added by all its producers. Value added is the value of the gross output of producers less the value of intermediate goods and services consumed in production, before accounting for consumption of fixed capital in production. The United Nations System of National Accounts calls for value added to be valued at either basic prices (excluding net taxes on products) or producer prices (including net taxes on products paid by producers but excluding sales or value added taxes). Both valuations exclude transport charges that are invoiced separately by producers. Total GDP is measured at purchaser prices. Value added by industry is normally measured at basic prices.
Publisher
The World Bank
Origin
Jamaica
Records
63
Source
Jamaica | GDP (current US$)
1960 699064380.37425
1961 748043500.7826
1962 777727688.90892
1963 826706669.31733
1964 897949000.8204
1965 972159611.13616
1966 1096759561.2962
1967 1148014310.8255
1968 1083839132.9287
1969 1191239047.0088
1970 1404720441.8882
1971 1539861815.8938
1972 1875146587.4443
1973 1905917553.1915
1974 2375122375.1224
1975 2860442750.4427
1976 2966042856.0429
1977 3249733139.7331
1978 2644527821.5301
1979 2425064229.0418
1980 2679379371.5126
1981 2979027966.4537
1982 3293496311.9309
1983 3619262277.4771
1984 2373564549.4932
1985 2100239018.8247
1986 2754549581.9241
1987 3287007321.567
1988 3828342820.3494
1989 4404937853.3945
1990 4592208086.6924
1991 4106207649.0555
1992 3535460089.8072
1993 5440075675.7407
1994 5452558947.0304
1995 6577520642.823
1996 7393891920.8036
1997 8400041723.5486
1998 8787195622.435
1999 8887057997.3623
2000 9005064474.93
2001 9194727831.0732
2002 9719009494.8478
2003 9430234810.7859
2004 10174664853.948
2005 11243865777.713
2006 11930179089.885
2007 12799600047.184
2008 13709401520.033
2009 12120458114.832
2010 13220549908.249
2011 14444661522.146
2012 14807086555.528
2013 14264205152.613
2014 13899217721.682
2015 14188936958.434
2016 14077096714.128
2017 14808985171.344
2018 15730792835.581
2019 15830766570.727
2020 13812421803.408
2021 14657586127.033
2022 17097760723.92

Jamaica | GDP (current US$)

GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. Limitations and exceptions: Gross domestic product (GDP), though widely tracked, may not always be the most relevant summary of aggregated economic performance for all economies, especially when production occurs at the expense of consuming capital stock. While GDP estimates based on the production approach are generally more reliable than estimates compiled from the income or expenditure side, different countries use different definitions, methods, and reporting standards. World Bank staff review the quality of national accounts data and sometimes make adjustments to improve consistency with international guidelines. Nevertheless, significant discrepancies remain between international standards and actual practice. Many statistical offices, especially those in developing countries, face severe limitations in the resources, time, training, and budgets required to produce reliable and comprehensive series of national accounts statistics. Among the difficulties faced by compilers of national accounts is the extent of unreported economic activity in the informal or secondary economy. In developing countries a large share of agricultural output is either not exchanged (because it is consumed within the household) or not exchanged for money. Statistical concept and methodology: Gross domestic product (GDP) represents the sum of value added by all its producers. Value added is the value of the gross output of producers less the value of intermediate goods and services consumed in production, before accounting for consumption of fixed capital in production. The United Nations System of National Accounts calls for value added to be valued at either basic prices (excluding net taxes on products) or producer prices (including net taxes on products paid by producers but excluding sales or value added taxes). Both valuations exclude transport charges that are invoiced separately by producers. Total GDP is measured at purchaser prices. Value added by industry is normally measured at basic prices.
Publisher
The World Bank
Origin
Jamaica
Records
63
Source