2 days ago
4
Jamaica has adopted new statistical methodologies for estimating economic performance.
The System of National Accounts 2008 “better reflect the international standards and comparability of our estimates,” said the acting head of Statin, Leesha Delatie-Budair. The system now uses a base year of 2015, up from 2007.
The changes in reporting economic output, or gross domestic product, has resulted in reclassifications across multiple industries, said 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, and tour operators – previously grouped under transport, storage, and communication – will now be categorised under real estate and business services.
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.
The ‘producers of government services’ category is now labelled ‘public administration and defence’. It 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 changes were announced on Thursday by Statin, as the agency reported on new data.
Jamaica’s economy grew by 1.1 per in the first quarter of 2025, driven by increases in both goods and services, Statin said. The agency is the final authority for data on economic growth.
Its figure exceeded the preliminary estimate of 0.8 per cent growth issued by the Planning Institute of Jamaica, and affirmed that Jamaica had emerged from technical recession.
The goods-producing industry grew by 2.0 per cent, while the services industry expanded by 0.8 per cent, Delatie-Budair said.
English (US) ·