For the first nine months of last year, exports from the island climbed to US$1.5 billion — 22 per cent above that for the same period in the prior year. This increase, the Statistical Institute of Jamaica (Statin) said, was primarily driven by increased volumes from the mining, quarry and agriculture sectors.

“Revenues from the mining and quarrying industry increased from US$279.3 million to US$455.7 million, primarily due to higher alumina exports. Exports of alumina were valued at US$381.2 million, US$266.8 million above the US$114.4 million earned in 2022 even as the export of bauxite declined by 2 per cent to US$55 million,” Statin said in its latest trade bulletin.

Earnings from the agriculture industry, which, on the other hand, went up by 14.3 per cent, were valued at US$69.0 million and were led by higher exports of yams, coffee, other root crops and other agriculture exports.

“Exports of yams rose by 28.2 per cent to US$31.6 million, compared to US$24.6 million in 2022; coffee by 21.2 per cent to US$19.6 million, other root crops by 15.0 per cent to US$3.7 million and other agriculture exports by 10.6 per cent to US$2.4 million,” Statin data indicated.

Following an almost 10 per cent dip in exports from the manufacturing sector, earnings from this industry fell to US$659.7 million. This was due primarily to lower exports of refined petroleum products, even as more rum and other alcoholic beverages, sauces and tobacco were sold to outside markets.

Jamaica’s top five export partners over the period were the USA, Puerto Rico, Latvia, the Russian Federation, and Iceland, of which exports to these countries increased by 23 per cent to US$1.1 billion, due mainly to higher exports of alumina.

Exports to Caricom, which also increased over the nine months, were, however, valued at US$122.1 million.

The country, which has been on a mission to grow exports amid years of unfavourable trade imbalances driven by higher imports, has been making marginal strides in its quest to counter this. In the last trade bulletin exports also rose nearly 30 per cent year-on-year to total nearly US$1 billion up to the six-month period.

For the January to September period, total imports for the country stood at $5.9 billion — 2.4 per cent above the similar period in the prior year. The top five countries from which commodities were sourced were the United States of America (USA), China, Brazil, Japan, and Colombia.

“Imports from these countries rose by 5.1 per cent to US$3.7 billion and was due chiefly to higher imports of mineral fuels from the USA,” Statin said.