Jamaica’s trade imbalance has significantly worsened, with the country spending four times more on imports than it earned from exports during the first five months of 2025, according to the Statistical Institute of Jamaica (STATIN). The data reveals that Jamaica’s total import expenditure reached US$3,161.5 million, while export earnings stood at a mere US$773.0 million. This represents a 3.6% increase in import value compared to the same period in 2024, driven by higher spending on raw materials, consumer goods, and fuels. On the other hand, exports declined by 6.9%, primarily due to a sharp 26.8% drop in mineral fuel revenues. Jamaica’s major trading partners included the USA, China, Brazil, Nigeria, and Japan, with import costs from these nations rising by 9.8%. Meanwhile, export revenues to top destinations such as the USA, Russia, Iceland, Canada, and the Netherlands fell by 0.7%, further exacerbating the trade deficit.
Jamaica spends four times more on imports than it earns from exports – STATIN
