Former Prime Minister Bruce Golding handing over the report of the finding and recommendations relating to Jamaica and its relationship with Caricom to current Prime Minister Andrew Holness at Jamaica House on Thursday.
The report was concluded after interviews with several former Prime Ministers and current ones from within the region, along with other interested persons from institutions such as Trade Unions and senior members of political parties and input from the general public were received over the internet.
Golding hands over Caricom report
March 31, 2017 by
Major gains in Jamaica’s Caricom trade
October 12, 2016 by
Jamaica’s trade deficit with CARICOM dropped sharply or 29.7 percent to end at US$123 million at the end of the year to April 2016, for a fall of US$52 million, from US$174.5 million for the similar period in 2015.
Jamaica’s imports from CARICOM declined by 25.3 percent to US$148 million, from US$198 million for January to April 2015. Mineral Fuels fell 36.5 percent to US$72 million from US$113 million, Chemicals declined by 29.2 percent to US$8 million and Food amounted to US$46 million, a fall of US$3.5 million or 7 percent. Beverages & Tobacco imports declined by 26.2 percent to US$7.7 million and Manufactured Goods rose 14.5 percent to US$7.5 million.
Exports to the region increased by 18.3 percent or US$2 million, to US$25 million. Re-exports climbed 53.4 percent were to US$5.6 million. Domestic exports were valued at US$19.7 million, 1.2 percent less than the US$20 million recorded for January to April 2015. Lower exports of Manufactured Goods were the main contributor to this decline, due mainly to lower exports of cement related products.
Jamiaca’s exports to Caricom up
November 6, 2014 by
Jamaica’s total exports to CARICOM for the January to July 2014 period increased by US$7.5 million or 17.8 per cent to US$50 million compared to the 2013 period.
Imports from CARICOM region same period declined by 4.4 percent or US$21.4 million to US$468.4 million as were lower imports of Mineral Fuels, in July 2014. Mineral Fuels, declined by 1.8 percent or US$5.7 million to US$317 million for the seven months. Food fell by 12.8 percent or US$12.6 million to US$85.8 million, Beverages & Tobacco by 10.1 percent and Manufactured Goods moved from US$13.3 million to US$12.8 million. Imports of Chemicals however rose by 5.9 percent or US$1 million to US$16.7 million.
At the end of January to July 2014, Jamaica incurred a trade deficit of US$418.5 million with her CARICOM partners which was below the US$447.4 million in the comparable 2013 period.
Huge change in Jamaica’s CARICOM non-fuel trade
July 2, 2014 by
Add your HTML code here...
While imports from CARICOM for the first quarter of 2014 rose over the similar period in 2013, the figures mask the huge progress Jamaica made in in the non-fuel trade balance with Caricom partners. The value of nonfuel imports from CARICOM fell in the first three months of 2014 while exports jumped, albeit from a low level. Imports fell to US$64 million from US$73 million in the comparable 2013 period and exports jumped 63 percent or $11 million to US$29 million, a $20 million improvement in the trade balance excluding fuel. Manufactured Goods valued at US$13.6 million was the major contributor to this increase in exports. Food valued at US$7.6 million, Beverages & Tobacco at US$2.2 million and Miscellaneous Manufactured Articles at US$1.8 million constituted the major commodity groups exported to CARICOM, the report from the Statistical institute of Jamaica stated.
Notwithstanding the improvement in the non-fuel imports, total mported items from Caricom rose to US$207 million for the quarter, US$44 million more than the US$163 million recorded for 2013.
Imports of Mineral Fuels, increased during the current 2014 period to US$143 million increasing by US$53 million moving from US$90 million.
Caricom imports drop
December 6, 2013 by
Imports from the Caricom region fell during January to August 2013 by 11.8 percent or US$80 million to US$599 million compared to US$680 million spent in the comparable 2012 period.
The decline of US$91 million to US$403 million for “Mineral Fuels, etcetera” was the main contributor to the decrease. “Food” valued at US$117 million increased from US$103 million in the corresponding 2012 period. Imports of “Beverages & Tobacco” and “Chemicals” were valued at US$28 million and US$17 million respectively in the 2013 period, compared to US$26 million and US$20 million respectively in the comparable 2012 period.
The value of Jamaica’s total exports of goods to CARICOM fell marginally by US$1 million to US$44 million during the review period.
During the eight month period, Jamaica narrowed the trade deficit by US$79 million to US$555.0 million, below the US$634.4 million recorded for the same period in 2012.
Related posts | Big drop in trade deficit | CARICOM balance narrows sharply
CARICOM balance narrows sharply
June 6, 2013 by
The trade balance with the CARICOM region narrowed sharply during the first two months of 2013 as Jamaica imported US$41 million less goods form countries in the region compared with the previous year. Not only did imports enjoy a major decline, exports held up well and was virtually the same as the year before period with a mere marginal decrease of US$0.7 million or 6.5 percent.
The country imported US$98 million worth of goods from CARICOM, a decrease of 29.5 per cent. Expenditure on “Mineral Fuels, etcetera” fell by US$50 million or 51 percent to US$48 million. “Food” grew by US$6.9 million to US$30 million. “Beverages & Tobacco” were valued at US6 million, roughly the same as in 2012 period, the Statin report on the trade data indicated.
Total exports to the region fell by to US$10 million during the 2013 review period. Exports of domestically produced goods accounted for US$8.8 million, down from US$9.2 million in the comparable 2012 period. Re-exports fell to US$1.5 million. The major groups of domestic exports were “Food”, valued at US$5.2 million, and “Beverages & Tobacco” worth US$1.7 million. These two sub-categories increased by 9.0 per cent and 27.4 per cent respectively.
The trade deficit with CARICOM during February 2013 fell by US$40.3 million to US$ 87.6 million. This was due to decrease importation of “Mineral Fuels, etcetera” during the current review period.
