分类： business

KINGSTON, Jamaica — The United States dollar demonstrated a notable uptick in its value against the Jamaican dollar on Tuesday, September 30, closing at $161.22, marking an increase of 17 cents. This development was highlighted in the Bank of Jamaica’s daily exchange trading summary, reflecting the ongoing dynamics in the foreign exchange market. Concurrently, the Canadian dollar also experienced a rise, ending the day at $116.51, up from its previous close of $116.11. Similarly, the British pound saw a significant surge, concluding the trading session at $216.87, compared to $214.99 the day before. These fluctuations underscore the volatile nature of global currency markets and their impact on local economies. The strengthening of major currencies like the US dollar, Canadian dollar, and British pound against the Jamaican dollar could have broader implications for trade, investment, and economic stability in the region.

Tokyo, Japan — A high-profile delegation from the Jamaica Coffee Exporters Association (JCEA) has arrived in Tokyo to participate in a pivotal joint meeting with the All Japan Importers of Jamaican Coffee. The event, held at the prestigious Big Sight Convention Centre, also includes representatives from the Jamaica Agricultural Commodities Regulatory Authority (JACRA). Dr. Norman Grant, Chairman of the JCEA, highlighted the association’s ambitious plans to evolve into the Jamaica Coffee Manufacturer and Exporters Association (JCMEA), reflecting its expanded role in manufacturing. Additionally, JCEA members have achieved international certifications such as HACCP, SQF, USFDA, and Rainforest, underscoring their commitment to quality and safety. Grant emphasized the positive trend of increased engagement among coffee farmers, driven by rising cherry coffee prices over the past three years. He also noted significant improvements in quality at both farm and processing levels, with higher pass rates in JACRA’s quality tests. Despite these advancements, challenges persist, including reduced margins for processors due to the disparity between rising cherry prices and stagnant export prices. On a brighter note, global demand for Jamaica Blue Mountain Coffee is surging, prompting the JCEA to set ambitious goals: doubling production from 220,000 to 450,000 boxes by 2030, enhancing farm yields, and improving quality. The association is also focusing on sustainability, maintaining ISO 9001:2015 certification, adopting new technologies, reducing the industry’s carbon footprint, and collaborating with scientific research bodies to refine the Jamaica Blue Mountain Coffee strain.

The Central Bank of the Bahamas (CBB) has reported that the domestic economy experienced moderated growth through August 2025, aligning closer to its medium-term potential. While tourism output slowed due to constraints in the high-value stopover segment, the cruise sector remained resilient, buoyed by robust earnings and foreign investments in onshore private destinations. However, the unemployment rate rose in the first quarter of 2025, driven by a decrease in employed individuals and an increase in labor force participation. Monetary trends for August were marked by a contraction in banking sector liquidity, as domestic credit growth outpaced deposits, and external reserves declined due to net foreign currency outflows. Tourism sector earnings also slowed compared to 2024, primarily due to accommodation capacity constraints in the stopover segment. Official data revealed a 3.3% decline in total arrivals for July 2025, with sea passengers decreasing by 3.8% and air traffic by 0.9%. The short-term vacation rental market saw a 1% increase in room nights sold, but occupancy rates declined. The average daily room rate (ADR) for entire place listings rose by 11.8%, while hotel comparable listings saw a 1.1% increase. Labor market conditions worsened in the first quarter of 2025, with the unemployment rate climbing to 10.8% and youth unemployment reaching 20.9%. External reserves decreased to $74.7 million in August, with the central bank’s net foreign currency outflow to the public sector widening. The CBB forecasts slower economic growth in 2025, driven by tourism sector performance, ongoing foreign investments, and global trade uncertainties.