Economics By:James Green
This is coffee and sugar, they are two of Jamaica's biggest exports as well as rum, yams, and mineral fuels.
Drippin here are Jamaica's two biggest imports, food and fuel.
Grass most Jamaicans work in services,industry, and agriculture. Particularly sugar cane farms. And those that live inside of urban areas typically work in office jobs such as banking, accounting, and manufacturing.
Jamaican Wages and Unemployment
Poor Jamaica has recently increased it's minimum wage from 5000 dollars per 40 hour workweek up to 5600 dollars per 40 hours. But on the downside the unemployment rate is 16.3% in the country. Jamaica's GDP is 25.03 billion dollars good for 126th in the world. But the GDP is growing slowly but steadily. 16.5% percent of the country is also below the poverty line.
Jamaican Trading and Reasources
Jamaica's biggest trading partners are the U.S, Venezuela, Trinidad and Tobago, Canada, China, and Mexico. Where most of their exports go to is the U.S, Canada, Slovenia, Netherlands, and the United Arab Emirates. Jamaica's biggest natural resources are forests, gypsum, bauxite, and limestone.
Jamaica's farms produce around 7.5 of the country's total GDP. It also provides nearly a quarter of the jobs inside of the country. The farms produce a ton of sugar, but they also produce bananas, coffee, spices, pimentos, citrus fruit, and coconuts. The sugar is the main cash crop for Jamaica. The problem with having a single product economy is that if one thing goes wrong your economy will go into shambles.