Jamaican exports plummet as imports inched up for Jan-April 2025
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Durrant Pate/Contributor
Jamaica’s international merchandise trade suffered a major contraction during the first four months of the current fiscal year, as exports plummeted while imports inched up.
For the period January to April 2025, Jamaica’s total spending on imports was valued at US$2.47 billion, while earnings from total exports were valued at US$614.1 million, as released by the Statistical Institute of Jamaica (STATIN).
The value of imports increased by 0.3 per cent when compared to US$2.47 billion in 2024. This was driven by increased imports of ‘Raw Materials/Intermediate Goods and Consumer Goods’, which rose by 6.2 per cent and 8.1 per cent, respectively.
Total exports for the January to April 2025 period were 5.7 per cent lower than the US$651.2 million earned in the similar 2024 period. This decline was attributable to a 31.3 per cent fall in the value of mineral fuels.
Main trading partners
The five main trading partners for the period January to April were the United States, China, Nigeria, Brazil, and Japan. Expenditure on imports of goods from these countries increased by 5.5 per cent to US$1,539.7 million.
This increase was due largely to a rise in the value of imports of food, and machinery and transport equipment. The top five destinations for Jamaica’s exports were the US, Russian Federation, Iceland, Canada and the Netherlands.
Export revenues from these countries decreased by 0.7 per cent to US$444.5 million due to a decrease in the value of exports of mineral fuels.
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