Jamaica’s Trade Deficit Widens in January–June 2026

• Jamaica’s trade deficit widened by US$218.9Mn to US$3,103.6Mn for January to June 2026, as higher import expenditure coincided with a decline in export earnings. The export-to-import coverage ratio declined to 20.9%, from 23.5% in the corresponding 2025 period. This implies that the country earned approximately US$0.21 for every US$1.00 spent on imports.
• Total spending on imports for the first six months of 2026 was valued at US$3,921.4Mn, representing a 4.0% increase compared to US$3,770.3Mn recorded in January to June 2025. The increase was mainly driven by higher expenditure on Raw Materials/Intermediate Goods (+4.7%) and Fuels and Lubricants (+6.7%).
• Earnings from total exports were valued at US$817.8Mn, representing a 7.7% decline compared to the US$885.7Mn earned in the corresponding 2025 period. The decline was primarily driven by a 43.0% reduction in the export value of Crude Materials excluding Fuels.
• Jamaica’s top five import trading partners during the period were the United States, China, Colombia, Japan and Trinidad and Tobago. Combined imports from these countries totalled US$2,596.7Mn, representing an 18.3% increase compared to US$2,195.5Mn recorded in the previous corresponding period.
• On the export side, Jamaica’s main markets were the United States, Russian Federation, Netherlands, United Kingdom and Canada. Export revenues from these countries increased by 2.1% to US$595.9Mn.
• Ultimately, the widening trade deficit implied that more foreign currency is leaving the country to finance imports relative to the foreign exchange earned from merchandise exports.

(Sources: STATIN & NCBCM Research)