Jamaica’s imports drop

Jamaica’s imports of Raw Materials and Intermediate Goods for the period to July this year, declined by 6.7 percent or US$151 million to US$2.1125 billion Other Fuel and Lubricants fell by US$4.3 million to US$724 million.
Industrial Supplies, declined by 12.2 percent or US$75.6 million to US$544 million. Food and beverages fell, moving down by US$28.6 million or 14.1 percent to US$174 million due to lower importation of corn, wheat and rice. Capital Goods grew by 5.8 percent or US$9 million to US$167 million. Expenditure on Consumer Goods (excl. Motor Cars) increased by 8.2 percent or US$72 million to US$945.7 million during the first seven months of 2014 period.
Imports could decline further with the price of oil on the world market having fallen to the US$80 range since the July report was released.