Jamaica’s economic landscape for the first three quarters of 2025 reveals a deepening trade imbalance, with the nation’s import expenditures significantly outpacing its export revenues. Official data released by the Statistical Institute of Jamaica (STATIN) paints a clear picture of this challenging trend.
Import spending surged to US$5.7 billion between January and September, marking a 3.6 percent increase from the US$5.5 billion recorded in the corresponding period of 2024. This upward trajectory was primarily fueled by a substantial 13.3 percent rise in purchases of raw and intermediate goods, coupled with a 10 percent jump in consumer goods acquisitions.
In a contrasting development, the nation’s export sector experienced a contraction. Total export earnings fell by two percent, dropping to US$1.3 billion from the previous year’s US$1.4 billion. A sharp 10.7 percent decline in the value of mineral fuel shipments was identified as the principal driver behind this downturn.
An analysis of Jamaica’s international trade partnerships shows the United States, China, Brazil, Japan, and Nigeria as its top five import sources. Expenditure on goods from these nations reached US$3.5 billion, a 6.8 percent increase from 2024’s US$3.3 billion, largely due to heightened imports in the ‘chemicals’ category.
Conversely, the primary destinations for Jamaican exports were the United States, the Russian Federation, Iceland, the Netherlands, and Canada. However, revenues from these key markets fell by 3.0 percent to US$946.7 million, a decrease predominantly caused by reduced export values of ‘crude materials’.