HENRY… output in traditional export crops increased
As the Economic Growth Council works towards five per cent growth in three years and the nation works towards first-world status by 2030, the task just got a little harder. Latest information out of the Planning Institute of Jamaica states that the growth rate remained flat for the first quarter of 2017 over the comparative quarter of 2016, led by declines in agriculture, mining and quarrying, according to newly released data from the Planning Institute of Jamaica (PIOJ).
The flat growth compares to growth of 0.9 per cent for the first quarter of 2016, and to growth of 1.3 per cent for the last quarter from October to December last year.
Although the country experienced growth for the first quarter of 2017 in the manufacture and finance industries — up 1.1 per cent and 0.5 per cent respectively —that growth was outweighed by decreases registered for the mining and quarrying industry, down 10.8 per cent; and the agriculture, forestry and fishing industry, down 2.5 per cent.
“The decline in agriculture, forestry and fishing was due to lower output recorded for the heavier weighted component, other agriculture crop down five per cent, reflecting lower production in five of the nine groups. Among those declining were fruits, down 16.3 per cent, condiments down 14.5 per cent and potatoes down 18.2 per cent,” director general of the PIOJ Wayne Henry said during its quarterly press briefing yesterday.
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