Macro-economic Data

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    A. Demography and Macroeconomy

    A.1 Population
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Total population2.73 million2.72 million2.71 million
    WDI
    		A.1.1
    Average household size  3.1
    Census 2011
    		A.1.3
    Urban population (% of total)54.79% of total54.56% of total54.34% of total
    WDI
    		A.1.4
    Urban population growth (annual %).62%.62%.64%
    WDI
    		A.1.5
    A.2 Economy
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    GDP, current prices (U.S. dollars)13,924 USD (millions)13,893 USD (millions)14,189 USD (millions)
    WEO
    		A.2.1
    GDP based on PPP valuation of country GDP (Current international dollar)24,647 USD (millions)24,138 USD (millions)23,623 USD (millions)
    WEO
    		A.2.2
    GDP per capita, current prices (U.S. dollars)4,948.02 USD 4,963.65 USD 5,096.83 USD
    WEO
    		A.2.3
    GDP based on PPP per capita GDP (Current international dollar)8,758.51 USD 8,624.12 USD 8,485.59 USD
    WEO
    		A.2.4
    GDP, constant prices (Percent change)1.09%.53%.2%
    WEO
    		A.2.5
    Inflation, end of period consumer prices (Percent change)3%6.36%9.47%
    WEO
    		A.2.6
    GDP, deflator (Index)218.97209.88195.24
    WEO
    		A.2.7
    Consumer price index141.11136.11125.69
    WDI
    		A.2.8
    Growth in urban household income (%/year)A.2.13
    Employment (% of total laborforce)A.2.14
    Interest Rates:A.2.15
    Yield on 3 months treasury bills6.59%8.29%7.29%
    IFS
    		A.2.15.2
    Average bank deposit rate4.9%5.27%3.66%
    IFS
    		A.2.15.4
    Lending rate16.98%17.22%17.72%
    IFS
    		A.2.15.5
    B. Housing Market
    B.1 Housing Stock: Production, Transactions
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Number of dwelling units:B.1.1
    Characteristics of housing stock:B.1.3
    Tenure in urban areas (%):B.1.4
    Owner-occupied units  59.8% of total
    International Union for Housing Finance
    		B.1.4.1
    Estimated Number of units completed/yearB.1.5
    Formal sector/registered  3,549 units
    Bank of Jamaica
    		B.1.5.1
    Informal sector/non-registered  2,011 units
    Bank of Jamaica
    		B.1.5.2
    B.2 Housing Prices and Cost for Urban Areas or Capital City
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Median urban house price in USD:B.2.1
    Median house price to median annual HH income:B.2.2
    Annual average % change in median house prices:B.2.3
    M2 construction cost for median quality houseB.2.4

    back to top | Country Data:
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: Capital gains earned from the sale of property is considered to be business income and is subject to income tax.
    Notes: Creditinfo Jamaica started operations on July 1, 2013.
    Notes: Creditinfo Jamaica started operations on July 1, 2013.
    Notes: Creditinfo Jamaica started operations on July 1, 2013.
    Notes: Expenses such as property taxes, repairs, maintenance, property depreciation, etc are deductible from the taxable income.
    Notes: Government - The National Housing trust provided 82% of mortgage loans in 2010.
    Notes: Interest rate subsidies provided by the NHT for disabled, elderly, public sector employees, and those with low income. The interest rates range from 0-6% dependent on income at the time of application as well as the category that the individual falls under; disabled, elderly, public sector employee, or other contributor. All individuals with an income of less than JMD12,000 qualify for a mortgage loan with a 0% interest rate.
    Notes: Interest rate subsidies provided by the NHT for disabled, elderly, public sector employees, and those with low income. The interest rates range from 0-6% dependent on income at the time of application as well as the category that the individual falls under; disabled, elderly, public sector employee, or other contributor. All individuals with an income of less than JMD12,000 qualify for a mortgage loan with a 0% interest rate.
    Notes: Interest rate subsidies provided by the NHT for disabled, elderly, public sector employees, and those with low income. The interest rates range from 0-6% dependent on income at the time of application as well as the category that the individual falls under; disabled, elderly, public sector employee, or other contributor. All individuals with an income of less than JMD12,000 qualify for a mortgage loan with a 0% interest rate.
    Notes: Interest rate subsidies provided by the NHT for disabled, elderly, public sector employees, and those with low income. The interest rates range from 0-6% dependent on income at the time of application as well as the category that the individual falls under; disabled, elderly, public sector employee, or other contributor. All individuals with an income of less than JMD12,000 qualify for a mortgage loan with a 0% interest rate.
    Notes: Interest rate subsidies provided by the NHT for disabled, elderly, public sector employees, and those with low income. The interest rates range from 0-6% dependent on income at the time of application as well as the category that the individual falls under; disabled, elderly, public sector employee, or other contributor. All individuals with an income of less than JMD12,000 qualify for a mortgage loan with a 0% interest rate.
    Notes: National Percentage
    Notes: Net Domestic Credit
    Notes: Net Domestic Credit
    Notes: Net Domestic Credit
    Notes: Net Domestic Credit
    Notes: Net Domestic Credit
    Notes: Net Domestic Credit
    Notes: Net Domestic Credit
    Notes: Net Domestic Credit
    Notes: Net Domestic Credit
    Notes: Net Domestic Credit
    Notes: Net Domestic Credit
    Notes: Net Domestic Credit
    Notes: Net Domestic Credit
    Notes: Net Domestic Credit
    Notes: Net Domestic Credit
    Notes: Net Domestic Credit
    Notes: Property taxes are levied on the property's market value. The rate varies according to the value. For a property valued up to JMD300,000, there is a a flat rate of JMD1,000. For a property valued above JMD300,000, the rate is 0.75%. There are also potential parchial property taxes depending on the jurisdiction of parchial or local governments. The rates vary, depending on the rulings of the local governments.
    Notes: Rental income is subject to a 25% withholding tax.
    Notes: Stamp duty tax is levied at a rate of 4% on transfers of real property.
    Notes: The National Housing Trust is a provident fund in which workers contribute and in return receive subsidized mortgages.
    Notes: The National Housing Trust is a provident fund in which workers contribute and in return receive subsidized mortgages.
    Notes: The National Housing Trust is a provident fund in which workers contribute and in return receive subsidized mortgages.
    Notes: The National Housing Trust is a provident fund in which workers contribute and in return receive subsidized mortgages.
    Notes: The National Housing Trust is a provident fund in which workers contribute and in return receive subsidized mortgages.
    Notes: The National Housing Trust was established in 1976 through an amendment to the National Insurance Act.
    Notes: The National Housing Trust was established in 1976 through an amendment to the National Insurance Act.
    Notes: The National Housing Trust was established in 1976 through an amendment to the National Insurance Act.
    Notes: The National Housing Trust was established in 1976 through an amendment to the National Insurance Act.
    Notes: The National Housing Trust was established in 1976 through an amendment to the National Insurance Act.
    Notes: The National Housing Trust was established in 1976 through an amendment to the National Insurance Act.
    Notes: The National Housing Trust was established in 1976 through an amendment to the National Insurance Act.
    Notes: The National Housing Trust was established in 1976 through an amendment to the National Insurance Act.
    Notes: The National Housing Trust was established in 1976 through an amendment to the National Insurance Act.
    Notes: The National Housing Trust was established in 1976 through an amendment to the National Insurance Act.
    Notes: The National Housing Trust was established in 1976 through an amendment to the National Insurance Act.
    Notes: The National Housing Trust was established in 1976 through an amendment to the National Insurance Act.
    Notes: The National Housing Trust was established in 1976 through an amendment to the National Insurance Act.
    Notes: The National Housing Trust was established in 1976 through an amendment to the National Insurance Act.
    Notes: The National Housing Trust was established in 1976 through an amendment to the National Insurance Act.
    Notes: The National Housing Trust was established in 1976 through an amendment to the National Insurance Act.
    Notes: The National Housing Trust was established in 1976 through an amendment to the National Insurance Act.
    Notes: The National Housing Trust was established in 1976 through an amendment to the National Insurance Act.
    Notes: The National Housing Trust was established in 1976 through an amendment to the National Insurance Act.
    Notes: The National Housing Trust was established in 1976 through an amendment to the National Insurance Act.
    Notes: The National Housing Trust was established in 1976 through an amendment to the National Insurance Act.
    Notes: The National Housing Trust was established in 1976 through an amendment to the National Insurance Act.
    Notes: The National Housing Trust was established in 1976 through an amendment to the National Insurance Act.
    Notes: The National Housing Trust was established in 1976 through an amendment to the National Insurance Act.
    Notes: The National Housing Trust was established in 1976 through an amendment to the National Insurance Act.
    Notes: The National Housing Trust was established in 1976 through an amendment to the National Insurance Act.
    Notes: While there is a framework for consumer protection, there are still many gaps in the financial industry.
    Notes: While there is a framework for consumer protection, there are still many gaps in the financial industry.
    Notes: While there is a framework for consumer protection, there are still many gaps in the financial industry.
    Notes: While there is a framework for consumer protection, there are still many gaps in the financial industry.
    Notes: While there is a framework for consumer protection, there are still many gaps in the financial industry.
    Notes: While there is a framework for consumer protection, there are still many gaps in the financial industry.
    Notes: While there is a framework for consumer protection, there are still many gaps in the financial industry.
    Notes: While there is a framework for consumer protection, there are still many gaps in the financial industry.
    Notes: While there is a framework for consumer protection, there are still many gaps in the financial industry.
    Notes: While there is a framework for consumer protection, there are still many gaps in the financial industry.
    Notes: While there is a framework for consumer protection, there are still many gaps in the financial industry.
    Notes: While there is a framework for consumer protection, there are still many gaps in the financial industry.
    Notes: While there is a framework for consumer protection, there are still many gaps in the financial industry.
    Notes: While there is a framework for consumer protection, there are still many gaps in the financial industry.
    Notes: While there is a framework for consumer protection, there are still many gaps in the financial industry.
    Notes: While there is a framework for consumer protection, there are still many gaps in the financial industry.
    Notes: While there is a framework for consumer protection, there are still many gaps in the financial industry.
    Notes: While there is a framework for consumer protection, there are still many gaps in the financial industry.
    Notes: While there is a framework for consumer protection, there are still many gaps in the financial industry.
    Notes: While there is a framework for consumer protection, there are still many gaps in the financial industry.
    Notes: While there is a framework for consumer protection, there are still many gaps in the financial industry.
    Notes: While there is a framework for consumer protection, there are still many gaps in the financial industry.
    Notes: While there is a framework for consumer protection, there are still many gaps in the financial industry.
    Notes: While there is a framework for consumer protection, there are still many gaps in the financial industry.
    Notes: While there is a framework for consumer protection, there are still many gaps in the financial industry.
    Notes: While there is a framework for consumer protection, there are still many gaps in the financial industry.