Agriculture sector projected to drive growth in some Caribbean economies in 2019

The Economic Review published by the Caribbean Development Bank (CDB) reports that Grenada (5.2%), Antigua and Barbuda (3.5%) and Guyana (3.4%) were the fastest growing economies in 2018. While all CARDI member states experienced positive economic growth it was St Lucia’s agricultural sector that stood out, contributing 11.4 % to agricultural output. The CDB is predicting that in 2019 the sector will also remain buoyant.

 

Grenada’s agriculture sector is also projected to drive economic performance in 2019, after recording a decline in production during the first half of 2018. The decline in production was attributed to adverse weather conditions which affected major crops such as cocoa and nutmeg. The recovery being predicted for the sector is based on the start of projects aimed at mitigating the effects of weather conditions.

 

The agriculture sector in Jamaica is also projected to experience a positive growth in 2019. The CDB is attributing this to investments in infrastructure (including irrigation) which will directly and indirectly lead to increases in incomes. The Bank is also forecasting that agriculture will make a positive contribution to St Vincent and the Grenadines’ economy in 2019. This is based on this initiatives that are taking place in the sector. 

 

To learn more how the countries’ economies performed in 2018 and their outlook for 2019, download the full report 

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