Jamaica's top ten in exporting marketsWednesday, September 15, 2021
Jamaica exported an estimated US$947.3 million in goods in 2020, representing a 40.3 per cent fall-off compared to 2019.
Jamaica's top ten trading partners in 2020, according to data provided by the Statistical Institute of Jamaica (Statin) were the United States of America, Canada, the Netherlands, Iceland, the Russian Federation, the United Kingdom, China, Guyana, the Cayman Islands and Ghana.
Total exports to the top ten markets in 2020 were valued at US$1.068 billion, this compared to US$1.381 billion in exports to the top ten export destinations in 2019. This represents a difference of US$313 million or a 22 per cent decline.
The island's largest trading partner, with an estimated 38 per cent of total exports, is the United States of America. Total exports to the United States from Jamaica in 2020 were US$568.45 million. Comparatively, in 2019 exports were valued at US$632.29 million.
Merchandise exports to Jamaica's second-largest market in 2020, Canada, amounted to US$118 million in 2020, compared to US$137.16 million the year before. Traditional exports from Jamaica to the North American country include inorganic chemicals, beverages, vegetables, preserved food, fruits and nuts, and knit apparel.
The Netherlands sometimes switches places with Canada as Jamaica's second-largest export market. In 2020 exports to the European nation totalled US $97.69 million, compared to US$211.49 million in exports in 2019.
The top exports from Jamaica are aluminium oxide , refined petroleum , aluminium ore , hard liquor, and other processed fruits and nuts. The island exports these mostly to the United States , Netherlands, Germany, Canada, and Iceland. For the last two years, however, Germany has not placed on the island's top ten exporting nations.
In fourth place in 2020 was Iceland with US$83.9 million in exports from Jamaica, compared to US$116.41 million in 2019. Chemicals are listed as the export item.
The fifth nation on the list of top ten export destinations is the Russian Federation with US$68.35 million in exports in 2020, compared to US$ 65.9 million in 2019.
In sixth place in 2020 was the United Kingdom with US $54.9 million in exports compared to US$56.8 million in exports in 2019.
The seventh export destination by value is China which in 2020 received 21.63 million in goods from Jamaica, compared to US$35.45 million in 2019.
Three new nations on the top ten list for 2020 were Guyana, Cayman and Ghana rounding out the eighth, ninth and tenth positions, in that order.
Exports to Guyana in 2020 US$19.4 million; exports to Cayman Islands $19.13 million; and exports to Ghana US$17.06 million.
In 2019 Norway was positioned at number eight with $64.05 million in exports . The country did not appear on the top ten list for 2020.
At position number nine in 2019 was the Republic of Georgia with US$31.05 million in exports from Jamaica. Tenth place in 2019 was held by France with US$30.75 million in exports from the island.
On Jamaica's list of chief exports are inorganic chemicals which is about 40.5 per cent of total exports; beverages, spirits, vinegar: $146 million which is about 15.4 per cent; ores, slag, ash comparing about 10.5 per cent; Vegetables amounting to 5.1 per cent; and miscellaneous food preparations including sauces of about 4.5 per cent.
Other exports are vegetable/fruit/nut preparations which make up around 3.4 per cent of exports; coffee, tea, spices comprising 3.4 per cent; cereal/milk preparations of around 2.7 per cent; mineral fuels including oils of 1.7 per cent; and fish comparing around 1.1 per cent of exports.
The latest data from Statin, which is for January to April 2021, indicates that this year's top ten (trending) export destinations, in order of value, are the United States of America, Netherlands, Canada, Puerto Rico, the United Kingdom, Switzerland, Iceland, France, Ghana and the Cayman Islands.
Total trade year to date (January to April) to these markets amounted to US$434.51 million.
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