Preliminary research from the Mona School of Business and Management indicates that some key sectors which drive export and economic growth have declined in Jamaica.
The assertion was made by Dr. William Lawrence, Director of Professional Services Unit at the Mona School of Business and Management and Lead Researcher for the study of Jamaica’s performance in the Global Competitiveness Survey at a public forum hosted by the School last week.
During the forum, which was held under the theme Transforming Jamaica’s Economic Competitiveness, Dr. Lawrence noted that the Global Competitiveness Report 2018 published by the World Economic Forum (WEF) recommended that Jamaica substantially boost its exports in order to achieve meaningful growth of Gross Domestic Product (GDP).
He said an analysis which was conducted by a team at MSBM, using the Planning Institute of Jamaica’s GDP growth data, mapped three export-producing sectors, namely manufacturing, mining and agriculture over the past 35 years. The findings showed that the GDP growth in mining and manufacturing together accounted for 63 per cent of the total GDP variability.