Per capita income (PCI) is the average income earned by each person in a specific geographic area (like a city, state, or country) over a specified period, usually a year. It is used to evaluate a population's overall standard of living and economic well-being.
When we look at the figures, you will see that the per capita income of Jamaica puts it just above Haiti, which is at the bottom of the list.
We should note that those countries that did not opt for independence have enjoyed a higher PCI than most of the Caribbean countries that are independent, as shown in Table III.
Although we have increased our PCI since 1962, as shown in Table I, we are far behind the Bahamas, as shown in Table II.
Data was obtained from the World Bank website, and some data were missing.
Another independence celebration approaches, and it cannot just be about songs and dances. The country has to look seriously at moving all economic indicators in the right direction. The first table I presented in this series showed how crime has developed over the years, and that has negatively impacted the ability of our country to move forward economically.
Wasting time talking about certain political issues locally and internationally cannot be our main focus. Political parties and how they perform in the polls cannot be the main focus. A country is the biggest business containing various businesses, and we have to treat it as such. If we don't treat it as such, our families and our people will pay for it dearly.
Note: I hardly believe there are any errors in the data, but please let me know if you see anything that is unusual. The figures for the calculations were extracted from the World Bank website. Some data were not available or were missing.
Per capita income is in USD.
Are all the figures especially the first table in USD?
ReplyDeleteYes. Thanks
ReplyDeleteGM. You have Belarus included in the list. Isn’t Belarus a former Soviet republic?
ReplyDeleteThanks. Corrected.
DeleteThen we boast and say how well we have progress. All of the Caribbean countries that was far behind us have passed us. The average Jamaican doesn’t understand the context of those numbers that you post.
ReplyDeleteThere are enough Jamaicans who are sufficiently informed and understand the figures. They have a responsibility to be a part of the solution. Armed with this information, they must talk with others. These figures are presented to create awareness. If we have been training our children properly, they should have been exposed to this type of information during high school. You must ask yourself what tertiary institutions are doing to inform our people. What do our political leaders talk about? I have just started the fire.
DeleteSchool institutions have failed us! I have learned and understand all about those numbers you posted by reading and listening to people who have various views about economics. I never went to high school, college nor university.
ReplyDelete