The Statistical Institute of Jamaica (STATIN) has reported that the country’s trade deficit continues to rise, with the latest International Merchandise Trade (IMT) data showing export earnings slumping, while expenditure on imports rising during the first seven months of this year.

The IMT figures for July 2025 show earnings from total exports for January to July 2025 falling by 2.9 per cent to US$1.06 billion compared to the US$1.09 billion earned in the corresponding period of 2024.

This decline was attributed to a 17.6 per cent fall in the value of Mineral Fuels.

At the same time, Jamaica’s total spending on imports was valued at US$4.51 billion.

The value of imports increased by 3.8 per cent compared to US$4.35 billion in 2024. This was driven by an increase in the value of Raw Material/Intermediate Goods and Consumer Goods, which rose by 13.0 per cent and 9.5 per cent, respectively.

MAIN TRADING PARTNERS 

The five main import partners for the period January to July 2025 were the United States of America (USA), China, Brazil, Japan and Nigeria.

Expenditure on imports of goods from these countries increased by 6.7 per cent to US$2.80 billion. This increase was driven primarily by a rise in imports of Chemicals.

The top five destinations for Jamaica’s exports were the USA, the Russian Federation, Iceland, Canada and the Netherlands.

Export revenues from these countries decreased by 3.0 per cent to US$743.3 million, primarily driven by a decrease in the value of exports of Mineral Fuels.