Jamaican Teas CEO, John Mahfood, telling shareholders about a strong increase in exports for the March Quarter.

Jamaica’s exports earnings grew by a strong 31 percent or US$27 million to US$114 million in January this year at a faster pace than 25 percent jump in imports as the country’s trade deficit increasing by US61 million or 23.3 percent to US$323 million.
Imports rose US$88 million to US$437 million compared to US$349 million in January last year. For the period, imports of Mineral Fuels, increased of US$41.8 million or 76.6 percent to US$96 million, due to higher imports of Petroleum, Oils, Bunker C fuel, Automotive Diesel Oil, Motor Spirit, Propane and Butane. Imports of Machinery and Transport Equipment rose by 46.7 percent or US$40 million to US$125 million due to higher imports of motor vehicles. Manufactured Goods increased by US$11 million to US$53 million, mainly due to more iron and steel being imports. Miscellaneous Manufactured Articles increased by US$6 million to US$42 million. Beverages & Tobacco imports grew 41 percent increased to US$7 million.
Traditional Domestic Exports climbed 20.3 percent or US$10 million to US$61 million, above the comparable 2016 period, as all commodity groups recorded increases. Traditional Domestic Exports accounted for 56.2 percent of total Domestic Exports during the 2016 review period. Non– Traditional Domestic Exports jumped 56.4 percent by US$17 million to US$47 million.