Jamaica’s complete spend on imports for January 2025 was valued at US$647.6 million, practically 5 occasions greater than the US134.2 million the nation earned from exports.
The data was launched on Thursday by the Statistical Institute of Jamaica (STATIN).
“The worth of imports declined by 6.1 per cent when in comparison with US$689.5 million in 2024,” STATIN mentioned. This was resulting from a decline in imports of fuels and lubricants, capital items (excluding motor automobiles), and transport tools, which fell by 34.2 per cent, 15.0 per cent, and 11.1 per cent, respectively.
Income from complete exports for January was 15.2 per cent decrease than the US$158.3 million earned in the same 2024 interval. “This decline was attributable to a 50.2 per cent fall within the worth of mineral fuels,” mentioned STATIN. It added that “conversely, home exports elevated by 2.8 per cent in comparison with the identical interval in 2024”.
Jamaica’s primary buying and selling companions for January 2025 had been america of America (USA), China, Nigeria, Colombia, and Japan. Expenditure on imports of products from these international locations elevated by 9.6 per cent to US$398.2 million, representing a rise of 9.6 per cent when in comparison with the US$363.3 million recorded in the identical interval of 2024. This enhance was due largely to a 1.1 per cent rise in imports of mineral fuels.
The highest 5 locations for Jamaica’s exports had been the USA, the Russian Federation, Iceland, the Cayman Islands, and the UK. Export revenues from these international locations elevated by 9.3 per cent to US$115.8 million, primarily resulting from a 31.0 per cent enhance within the worth of exports of crude supplies.
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