assessment of the socio-economic and environmental impact

This reflected an expansion in the deficit on the Transportation sub-account with a simultaneous
contraction in the surplus from Travel. Increased expenditure on shipping/freight and a
reduction in stopover tourist arrivals over the period contributed to these changes.
External Trade
For the January - April period Jamaica=s external trade deficit widened by US$93.2 million or 8.0
per cent to US$1 264.9 million relative to the corresponding period of 2006. The value of
Traditional Domestic Exports increased by US$13.5 million (or 3.0 per cent) to US$461.0
million, compared with January - April 2006. Non-Traditional Exports were valued at US$223.2
million, approximately US$41.3 million (or 22.7 percent), more than the corresponding period in
2006. Total Merchandise Imports for January - April 2007 increased by US$150.8 million (8.3
per cent) to US$1 965.6 million, compared with the corresponding period in 2006.
Exchange Rate
At the end of June 2007, the monthly nominal exchange rate was $68.42 per US$1.00, compared
with $65.87 per US$1.00 and $67.70 per US$1.00 at the end June 2006 and the end of March
2007, respectively.
The expected performance of the economy without the disaster
For 2007, the economy was projected to grow by 2.1 per cent in the absence of Hurricane Dean
(Table 6.4). All sectors were forecasted to grow with both the Goods - producing and Services
sectors projected to increase by 2.2 per cent. The Construction & Installation, Electricity &
Water, Transport, Storage & Communication and the Finance & Insurance sectors were expected
to be the main drivers of growth for 2007.
Output during July-December was expected to expand at a faster pace (2.4 per cent) than in the
January – June period when the economy grew by 1.8 per cent. This was partly based on an
expected higher level of activity in the Mining & Quarrying and Miscellaneous Services sectors
resulting in a projected growth of 5.2 per cent and 2.4 per cent, respectively for the final six
months of the year 23 . Other sectors that were expected to contribute to the country’s expansion
23 During January-June 2007, the Mining & Quarrying sector registered a flat performance while the Miscellaneous
sector declined by 1.3 per cent.
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