STATIN: Jamaica grew 1.1% in March quarter
Published:Friday | July 4, 2025 | 12:12 AM
Jamaica’s economy grew by 1.1 per cent in the first quarter of 2025, compared to the corresponding period in the previous year, driven by increases in both goods and services, according to the Statistical Institute of Jamaica (STATIN).
The figure exceeds the preliminary estimate of 0.8 per cent growth issued by the Planning Institute of Jamaica for the quarter. It means that the economy has exited the technical recession.
The goods-producing industry grew by 2.0 per cent while the services industry expanded by 0.8 per cent, said Leesha Delatie-Budaire, acting head of STATIN, during a press conference that also announced the adoption of new statistical methodologies to align with international standards.
Jamaica has adopted the System of National Accounts 2008 to “better reflect the international standards and comparability of our estimate”, said Delatie-Budaire. The system now uses a base year of 2015, up from 2007.
Rebasing to 2015 allows for constant price estimates that reflect a more current reference point, thereby improving the accuracy of real growth measurements, Delatie-Budaire noted.
The March quarter GDP figures use the new methodology, but no immediate comparison was provided for what the figures would have looked like under the previous system.
Changes in GDP reporting will result in reclassifications across multiple industries, explained Walata Wallace, acting director of the economic accounting division at STATIN. For instance, transport and storage has been separated from the information and communication industry. Tour operators – previously grouped under transport, storage, and communication – will now be categorised under real estate and business services.
NAME AND POLICY CHANGE
The category formerly known as “real estate, renting, and business activities” has been renamed “real estate and business services”, now encompassing travel agencies, tour operators, private veterinary services, and other previously unclassified activities.
“Producers of government services” is now labelled “public administration and defence”. This category excludes public health and education but includes agencies such as the National Housing Trust and the National Health Fund.
A new industry classification has been introduced for education, human health, and social work. Private universities – previously included under “other industries” – now fall under education. Sewage and sanitation services have been grouped with electricity and wastewater management.
Private medical, dental, and related services – such as nursing homes and daycare facilities – are now classified under the health industry. Private veterinary services now fall within the business services category.
Additionally, the “other services” grouping has been updated to include the repair of household appliances and goods, previously listed under wholesale and retail.
The Jamaican economy registered two consecutive quarters of decline down 3.5 per cent in September and down 0.8 per cent in December 2024. At the time, the Government indicated that its definition of a recession extended beyond GDP decline. It pointed to historically low unemployment, stable inflation, and strong macroeconomic fundamentals as signals that the decline was transitory, blaming Hurricane Beryl last July.