Jamaica spends four times more on imports than it earns from exports – STATIN
Jamaica spent four times more on imports than it earned from exports during the five-month period between January and May 2025 according to the Statistical Institute of Jamaica (STATIN).
During the period, Jamaica’s total spending on imports was valued at US$3,161.5 million, while earnings from total exports were valued at US$773.0 million.
“The value of imports increased by 3.6 per cent compared to US$3,052.3 million in 2024. This was driven by increased imports of raw material/intermediate goods, consumer goods and fuels and lubricants, which rose by 7.3 per cent, 7.1 per cent and 8.3 per cent, respectively,” said STATIN.
The Institute said total exports for the review period amounted to US$773.0 million, 6.9 per cent lower than the US$830.7 million earned in the January to May 2024 period. This decline was attributable to a 26.8 per cent fall in the value of mineral fuels.
Jamaica’s main trading partners for the first five months of the year were the United States of America (USA), China, Brazil, Nigeria and Japan. Expenditure on imports of goods from these countries increased by 9.8 per cent to US$1,957.0 million when compared with the same period in 2024. This increase was due largely to a rise in the value of imports of mineral fuels and chemicals.
Meanwhile, the top five destinations for Jamaica’s exports were the USA, the Russian Federation, Iceland, Canada and the Netherlands. Export revenues from these countries decreased by 0.7 per cent to US$558.5 million, primarily due to a decrease in the value of exports of mineral fuels.
