The Statistical Institute of Jamaica (STATIN) is estimating that the domestic economy grew 1.1 per cent in the first quarter of 2025 when compared to the same period last year.

STATIN, at a virtual media briefing on Thursday (July 3), advised that the macroeconomic data demonstrates evidence of Jamaica’s sustained recovery following Hurricane Beryl’s devastating passage a year ago.

The entity disclosed that the latest GDP report was achieved through a newly instituted alignment with the 2008 United Nations System of National Accounts (SNA 2008). STATIN updated its methodology to reflect international best practices, enhancing comparability and analytical relevance.

Under the revised SNA 2008 system, the January-March quarter is a sharp reversal of the -2.4 per cent gross domestic product (GDP) decline observed in the final quarter of 2024.

Jamaica’s economic growth was influenced mainly by a 2.0 per cent increase in domestic goods-producing industries and services industries, up 0.8 per cent.

Granularly, a new ‘Information & Communication’ sub-industry rose 6.4 per cent, ahead of ‘Agriculture, Forestry & Fishing’ (3.1 per cent) and ‘Transportation & Storage’ (1.9 per cent).

Conversely, ‘Real Estate & Business Services’ and ‘Wholesale and Retail Trade’ were the two sub-industries in decline for the quarter under review, falling 0.4 and 0.8 per cent respectively.