Jamaica trade deficit widens as imports outpace exports

Jamaica experienced a significant widening of its merchandise trade deficit during the first five months of 2026. According to data from the Statistical Institute of Jamaica (STATIN), the nation spent US$3.218 billion on imports between January and May, while export earnings totaled only US$674.7 million. This indicates that import values were approximately 4.8 times higher than export values during this period.

Import expenditure rose by 1.8 percent compared to the US$3.161 billion recorded during the same period in 2025. This growth was driven by increased spending on raw materials and intermediate goods (up 5.2 percent), capital goods excluding motor cars (up 7.4 percent), and transport equipment (up 6.6 percent).

Conversely, total exports fell by 12.5 percent from the US$770.9 million earned in the previous year's corresponding period. This decline was largely attributed to a 44.3 percent reduction in the export value of crude materials, excluding fuels. The United States, China, Japan, Colombia, and Brazil were Jamaica’s primary import trading partners, while the United States remained the leading destination for Jamaican exports.