Jamaican exports

Jamaican exports climb

December 17, 2017 by IC Insider.com

Jamaica earned 11.5 percent more from exports from January to September this year over the similar period in 2016 to end with US$992 million, US$102 million above the US$889 million recorded in the 2016 period.
Traditional Domestic Exports which represents 56.2 percent of total exports for the period increased US$36 million or 7.4 percent above the US$485 million recorded for the similar 2016 period to total US$521 million. Mining and Quarrying and Manufacture were responsible for the overall increase in receipts.
Non–Traditional earned US$406 million, a 22.5 percent or US$75 million increase above the US$331 million earned in the 2016 for the nine months period to reach US$406 million.

Filed Under: Economy Tagged With: Jamaican exports

Imports & exports down to June

October 1, 2015 by IC Insider.com

Petroleum imports help cut trade deficit to June

Jamaica continues to see gains from the fall in the price of petroleum on the world market but the country is not yet seeing the improvement in exports that is expected from the economic measures being pursued by the country. Thanks to a sharp drop in the country’s oil bill the trade deficit drop sharply by 11 percent in the first six months of this year.The merchandise trade deficit for January to June 2015 stood at US$1.9 billion, a fall of 10.9 percent compared to US$2.13 billion recorded in 2014. Imports decreased by 11 percent or US$316 million to US$2.55 billion. Total exports fell 11.4 percent or US$85 million to US$655 million compared to the similar 2014 period.
Traditional domestic exports during the 2015 review period grew 3.6 percent over 2014 to US$407 million, while Non-Traditional exports earned declined by a large 29.4 percent or US$92 million to US$220 million in 2015.

Import of buses for JUTC added to the Jamaica’s imports to June.

The reduction in imports “was as a result of significantly lower imports of crude oil and processed fuels, primarily Bunker C grade fuel oil, gasoline, Automotive Diesel Oil, Propane and Butane”, the Statistical Institute of Jamaica said.
Excluding motor cars there was an increase in Consumer Goods of 8.7 percent or US$67 million to US$839 million during January to June 2015 compared to the same period in 2014. Expenditure on Capital Goods accounted for US$273 million of imports, up from US$256 million in 2014.

Filed Under: Breaking News, Economy, Feature Stories Tagged With: Jamaican exports, Jamaican Imports

US$316M import drop exports down $81m

September 7, 2015 by IC Insider.com

Import of buses for JUTC added to the Jamaica’s imports to May.

Jamaica imported 13.2 percent or US$316 million less for the year to May this year, than for the 2014 period but suffered a US$81 million fall in exports for the same period. The savings in imports amounts to $758 million in annualized savings.
The shifts in exports and imports resulted in the merchandise trade deficit falling sharply by 13.4 percent to US$1.52 billion. The deficit was US$1.76 billion in the similar 2014 period. Imports for the current 2015 period amounts to US$2.09 billion, while earnings from exports amounted to US$565 million, a fall of 12.5 percent from the previous 2014 period.
Imports for the year to May were down sharply for many of the category of goods imported. Imports of Raw Materials and Intermediate Goods amounted to US$1.124 billion, a decline of US$354 million, down 24 percent. Consumer Goods rose by 5.9 percent or US$38 million to US$684 million, Imports of Food and Beverages fell by 1 percent to US$275 million. Capital Goods excluding Motor Cars accounted for US$216 million of imports, up from US$214 million in the comparable 2014 period. ‘Other Industrial Transport Equipment’ increased by 2.4

Mining sector exports rose a bit

percent or US$7.7 million due to higher imports of buses for the transport sector and ‘Machinery and Equipment’ decreased to a value of US$113 million. Passenger Motor Cars fell by US$2.4 million or 3.5 percent to US$64 million.
Major Traditional Domestic Exports were flat at US$350 million, compared to the same period in 2014. “Mining and Quarrying” grew by 4.7 percent or US$12.9 million to US$288 million during January to May 2015. ‘Bauxite’ rose by US$5.3 million or 10 percent to US$58.3 million. Agriculture earned US$9 million, compared to US$10 million earned in the January to May 2014 period.
Non-Traditional Domestic Exports earned US$193 million, 27.7 percent or US$74 million less than the similar period in 2014. All the sub-groups registered declines.