Jamaica’s exports record growth of 24.6% – CARICOM Business
Jamaica’s total spending on Imports for January – May 2021 amounted to US$2,249.3 million, an increase of 12.0% relative to the same period in 2020. This increase was mainly attributable to higher imports of Fuels and Lubricants (42.7%) and Raw Materials / Intermediate Goods (13.8%).
Total exports for the review period were valued at US$655.1 million, 24.6% above the US$525.7 million earned in the similar 2020 period. Total expenditure on imports and earnings from exports to the key trading blocs for January to May 2021 increased and were valued at US$1,241.1 million and US$496.5 million, respectively. Imports from the United States-Mexico-Canada Agreement (USMCA) – formerly NAFTA were valued at US$999.0 million.
Expenditure on goods from the European Union – (less UK) and CARICOM amounted to US$128.9 million and US$113.1 million, respectively. Exports to the EU – (less UK) and the CARICOM region also recorded increases to value US$107.0 million and US$36.5 million, respectively.
Extract from CARICOM BUSINESS Vol 4 No. 37
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