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Jamaica 's Economic Analysis On The Bank Of Jamaica

Decent Essays
As it relates to Jamaica 's economic analysis of key indicators; let begin with the rate of exchange for the major world currencies. Based on the Bank of Jamaica (2015) the weighted average rate for one US dollar was J$116.22 as at 5th June, 2015 while one Canadian currency cost was sold for J$93.04 and a pound sterling went for J$178.24. This means that the MES-Sim Corporation coming from Canada will have more money to spend when the dollar is converted to the local Jamaica dollar. The Jamaica Stock Market (Jamaica SE) decreased to 98401.81 Index Points in June 2015 from 98766.31 Index Points in May of 2015; the stock market in Jamaica averaged 47765.64 Index Points from 1987 until 2015, reaching an all time high of 120385.40 Index Points in April of 2005 and a record low of 1295.73 Index Points in September of 1988 (Trading Economics, 2015). The gross domestic product (GDP) measures of national income and output for a given country 's economy; the gross domestic product (GDP) is equal to the total expenditures for all final goods and services produced within the country in a specific period of time (TRADING ECONOMICS, 2015). The total value added at constant prices for the Jamaican economy recorded a decline of 0.4 per cent in the fourth quarter of 2014 when compared to the similar quarter of 2013(Statistical Institute of Jamaica, 2015). This reduction in output was due mostly to a 3.9 per cent fall in the Goods Producing industries; however, the Services industries,
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