Jamaica’s current account deficit (CAD) improved by US$139.7M or 46.18% to US$162.8M for the quarter ending March 2018, rela-tive to the previous quarter ending December 2017. This movement also represents a decline relative to the US$61.2M reported for the corresponding quarter of 2017.
A country’s current account balance is a key indicator of its economy’s health. Jamaica’s Current account deficit is reflective of its position as a net-importer (i.e. the value of imports being greater than exports). We anticipate Jamaica’s current account may contin-ue to worsen over the short-term due largely to increased imports relative to exports. This is despite the fact that the effects of Ja-maica’s widening trade balance may be offset somewhat by strengthening tourism and remittance inflows. Notably, the Bank of Jamai-ca is currently projecting an average deterioration in the Current Account deficit by an average US$83.4M per quarter between March 2018 and December 2019.