Increase In Export Earnings

• Jamaica earned US$1.24Bn from exports between January and September 2021. This was 22.9% higher than the US$1.01Bn for the corresponding period in 2020. Statin highlighted that the outturn was largely due to a 96.8% increase in the value of exports in the category ‘Mineral Fuels’, which totaled US$400.7Mn. 
• The value of domestic exports climbed by 14.5% to just over US$1.13Bn and accounted for 89.3% of total outflows. The rise was mainly due to higher outturns from the manufacturing and agriculture industries, up 30.5% and 8.1%, respectively. At US$1.13Bn, total domestic exports for the first nine months of 2021 was 74.5% of its full 2019 value. 
• The top-five destinations for Jamaican exports were the United States of America (USA), the Netherlands, Canada, the United Kingdom, and the Russian Federation. Exports to these countries increased by 10.7% to US$912.7Mn, largely resulting from increased shipments of bunker ‘C’ fuel to the USA and alumina to the Netherlands. 
• As the global economy continues to recover in 2022, Jamaica’s total exports is also expected to increase with strong support from higher demand for local manufactured and agriculture goods.

(Source: JIS and Statin)