Jamaica’s Spending On Imports And Earnings From Exports Fall In Q1 2021

• For the first quarter of 2021 (January-March), Jamaica’s total spending on imports and earnings from exports declined relative to the same period in 2020. 
• Imports for the first 3 months of 2021 were valued at US$1,316.8Mn, a decline of 2.3% when compared to Q1 2020. This decline was largely attributable to lower imports of “Consumer Goods” and “Transport Equipment” which fell by 13.9% and 20.3%, respectively. 
• The top 5 import partners during the period were the USA, Brazil, China, Colombia, and Japan and they accounted for 65.1% of imports. Jamaica imported a total of US$857.3Mn worth of goods from these countries, compared to US$872.7Mn recorded for 2020. The 1.8% decline in imports from these trading partners was due largely to the reduction in the imports of kerosene type jet fuel from the USA. 
• Total exports for the review period was flat at US$354.6Mn relative to the first quarter of 2020. 
• The top 5 destinations for Jamaica’s exports were the USA, the Netherlands, Canada, Puerto Rico, and the United Kingdom. Exports to these countries increased by 10.1% to US$271.5Mn when compared to the first quarter of 2020.This was due mainly to increased exports of alumina to the Netherlands.

(Source: STATIN & NCBCM Research)