Jamaica’s Merchandise Trade Deficit Widened in 2019

• Jamaica’s imports for January to December 2019 were valued at US$6,339.2 million, an increase of 2.7 per cent when compared to US$6,170.5 million which was spent for the similar period in 2018 according to the International Merchandise Trade (IMT) Bulletin released on March 31, 2020 by the Statistical Institute of Jamaica (STATIN).
• The December 2019 IMT Bulletin further outlined that revenue from exports amounted to US$1,586.4 million for the current review period, 19.1 per cent lower than the US$1,960.7 million earned in the similar period in 2018.
• Expenditure on imports from the United States of America (USA) – Jamaica’s main trading partner – were valued at US$2,848.8 million. This is 3.9 per cent above the US$2,740.7 million recorded in the period January to December 2018.
• Earnings from total exports to the USA amounted to US$614.4 million, an increase of 4.4 per cent when compared to the US$588.5 million earned for January to December 2018.

(Source: JIS)