Jamaica produces for export is very limited interms manufactured products,heres a list,Blue Mountain coffee,spirits or alcohalic breverages,Paints,furnitures,Electrical wires and etc;and last process foods such as bottled pepper,and other seasonings
there are afew other,like flowers for articulture&water, but not much interms of renewable resources.
None renewable resources are Bauxite which is ship in bauxite and aluminum & Gypsum and etc;
Imports that are made to Jamaica:(all items that Jamaicans use in their every day life if you ask any sensible economic observer) Machines ( factory,and many other uses),cars,food product ,Eg;chicken,rice and etc;
Oil products from diesel to Jet fuel,Electrical items and building materials,Even skilled laborers(human resources),and many more.
Jamaica's manufacturing sector has been ailing for years,hit by a financial meltdown in the 19 90s Jamaica's economy after recording a grow of 6% and up wards never captured that aspect of growth records again,in fact Jamaica exported more products than any other Caribbean country in the 1980s and now if you take a look at its imports and exports fact book more than 90% of all containers at the port of Kingston are imports,to put it simple were Jamaica had a surplus of exports long ago its now only exporting some 200 million of goods out of the country.its biggest exports are services,whether tourism or the IT sector,60% of registered economy.
Reasons being is that, Jamaica has one of the highest Tax levies in the world,interest rates after the FINSAC crisis hit 30% after the incident,some entrepreneurs whine up paying up to 100% on loans,and etc;
Its only in recent times that interest rates have fallen from High 20-25% to settle at 12% that was reported by the central bank (BOJ),inflation,O god a nother killer especial on workers pay cheques as goods and services near expensive rates.
Instances,either because of sky rocketing oil prices or after math of any natural desaster (hurricane), which devastate the Agriculture sector,forcing basic food necessities to be imported.
The government of Jamaica is the first in line for loans,therefore stiffling off the normal small size buisnessman,plus tax levies are so high for the productive sector that its hard for most small buisness to retool and to perform efficiently,Jamaica has also one of the highest GDP deth ratios in the world 130%,so imagine how much money the current government has to pay their creditors.
Currently in Jamaican currency, the money owed is at 900 billion Jamaica dollars,which many Jamaicans in the distant future will have to repay.
2007-03-08 12:10:58
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answer #1
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answered by joe 5
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Jamaica produces a lot of alum that is exported. They also produce the best coffee in the world and a lot of it is sent to Japan. Rum is also a big export for the country.
2007-03-08 11:05:04
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answer #2
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answered by daveduncan40 6
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