Jamaican Economy continues to grow in 2018

LBC
Read Time59 Second

The Jamaican Economy continues to record growth under the Jamaica Labour Party (JLP) government into 2018. According to the Statistical Institute of Jamaica (STATIN) the economy grew by 1.4% in the first quarter of 2018.

All sectors of the economy grew with goods producing and services sectors leading the way. Goods and Producing sector recorded 2.8% while the Services sector grew by 0.9%.

The growth in the Goods Producing Sector was led by Agriculture,Forestry and Mining was up 0.6%, Mining and Quarrying 25.9%, Manufacturing 0.8% and Construction 1.1%.

Growth in Mining and Quarrying was due mainly to the resumption of production at Jiquan Iron and Steel Company (JISCO) Alpart refinery in the last Quarter of 2017 and increase in demand from overseas markets for crude bauxite.

Manufacturing was influence by a 4.0 per cent increase in Other Manufacturing, such as petroleum and non-metallic mineral and chemicals products.

All eight Services Sectior showed growth including Water and Electricity 1.0%. Transport Communication and Storage showed the biggest jump 1.4%. Increased visitor arrival’s positively impacted both the Hotel and Restaurants and other services.

Staff Reporter

news@lbcnewsjm.com

 

0 0

About Post Author

LBC

LBC NEWS your one stop for everything News.
Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleppy
Sleppy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %

Average Rating

5 Star
0%
4 Star
0%
3 Star
0%
2 Star
0%
1 Star
0%

Leave a Reply

Next Post

Riverton Fire is out says NSWMA

The raging fire at the Riverton disposal site is now out. That’s according to the National Solid Waste Management Authority (NSWMA). Posting on their official Facebook account a short while ago, the NSWMA says the fire at Disposal Site has been completely extinguished and the smoke nuisance have been significantly […]
%d bloggers like this: