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JamaicaEconomy—overview: Key sectors in this island economy are bauxite (alumina and bauxite account for more thorts) and tourism. Since assuming office in 1992 Prime Minister PATTmost peamlined tax scheand privatized government enterprises. Continnetary and fiscal policies have helped slow inflation and stabilize the exchange rate but have resulted in the slow-down of erowth .5% in 195. was in negative growth (-1.4%) and remained so i97. Serious problem include: high interest rates; increased foreign competitionnanndition of business in general resulting in rships od downsizings of companies; the shifttment portfolios to non-productive short-term high yield instruments; a pressured sometimes slidina widening mercse trade deficit; and a growing ent bailouts to varectors of the economy. Jamaica's proill depend upon encouraging investment in the productive sectors maintaining a competitive exate stabilizing thent and implementing proper fiscal and monetary policies. GDP: purchasing power parity— GDP—real growth rate: -1.4% (1996 est.) GDP—per capita: purchasing power parity—$3 660 (1996 est.) GDP—composition by sector: agriculture: 8% industry: 37% services: 55% (1996 est.) Inflation rate—consumer price index: 17% (1996 est.) Labor force: total: 1.14 million (1996) by occupation: services 41% agriculture 22.5% industry 19% unemployed 17.5% (1989) Unemployment rate: 16% (1996 est.) Budget: revenues: $3 billion expenditures: $3 billion including capital expenditures of $1.163 billion (FY97/98 est.) Industries: tourism bauxite textiles food processing light manufactures Industrial production growth rate: NA% Electricity—capacity: 1.182 million kW (1995) Electricity—production: 3.87 billion kWh (1995) Electricity—consumption per capita: 1 503 kWh (1995) Agriculture—products: sugarcane bananas coffee citrus potatoes vegetables; poultry goats milk Exports: total value: $1.4 billion (f.o.b. 1996) commodities: alumina bauxite sugar bananas rum partners: US 37% UK 13% Canada 12% Netherlands 9% Norway 7% Imports: total value: $2.9 billion (f.o.b. 1996 est.) commodities: machinery and transport equipment construction materials fuel food chemicals partners: US 52% Trinidad and Tobago 8% Japan 6% UK 4% Canada 3% Debt—external: $3.2 billion (1997 est.) Economic aid: recipient: ODA $306 million (1996) Currency: 1 Jamaican dollar (J$) = 100 cents Exchange rates: Jamaican dollars (J$) per US$1—36.051 (November 1997) 37.120 (1996) 35.142 (1995) 33.086 (1994) 24.949 (1993) Fiscal year: 1 April—31 March
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