hoist side and fly side)

*Jamaica, Economy

Overview:
The economy is based on sugar, bauxite, and tourism. In 1985 it suffered a
setback with the closure of some facilities in the bauxite and alumina
industry, a major source of hard currency earnings. Since 1986 an economic
recovery has been under way. In 1987 conditions began to improve for the
bauxite and alumina industry because of increases in world metal prices. The
recovery has also been supported by growth in the manufacturing and tourism
sectors. In September 1988, Hurricane Gilbert inflicted severe damage on
crops and the electric power system, a sharp but temporary setback to the
economy. By October 1989 the economic recovery from the hurricane was
largely complete, and real growth was up about 3% for 1989. In 1991,
however, growth dropped to 0.2% as a result of the US recession, lower world
bauxite prices, and monetary instability. In 1992, growth was 1.5%,
supported by a recovery in tourism and stabilization of the Jamaican dollar
in the second half of 1992.
National product:
GDP - exchange rate conversion - $3.7 billion (1992 est.)
National product real growth rate:
1.5% (1992 est.)
National product per capita:
$1,500 (1992 est.)
Inflation rate (consumer prices):
52% (1992 est.)
Unemployment rate:
15.4% (1992)
Budget:
revenues $600 million; expenditures $736 million, including capital
expenditures of $NA (FY91 est.)
Exports:
$1.2 billion (f.o.b., 1991)
commodities:
alumina, bauxite, sugar, bananas, rum
partners:
US 39%, UK 14%, Canada 12%, Netherlands 8%, Norway 7%
Imports:
$1.6 billion (f.o.b., 1991)
commodities:
fuel, other raw materials, construction materials, food, transport
equipment, other machinery and equipment
partners:
US 51%, UK 6%, Venezuela 5%, Canada 5%, Japan 4.5%
External debt:
$4.4 billion (1991 est.)
Industrial production:
growth rate 2.0% (1990); accounts for almost 25% of GDP
Electricity:
1,127,000 kW capacity; 2,736 million kWh produced, 1,090 kWh per capita
(1992)
Industries:
tourism, bauxite mining, textiles, food processing, light manufactures
Agriculture:
accounts for about 9% of GDP, 22% of work force, and 17% of exports;
commercial crops - sugarcane, bananas, coffee, citrus, potatoes, vegetables;
livestock and livestock products include poultry, goats, milk; not
self-sufficient in grain, meat, and dairy products
Illicit drugs: