The country’s trade deficit with its major trading partners widened over the first four months of the calendar year, on the back of a decline in earnings from the traditional and non traditional export sectors.
That’s according to the latest trade data supplied by the Statistical Institute of Jamaica, STATIN.
Jamaica imported $US1.9 billion worth of goods for the first four months of the calendar year.
STATIN says this was a decrease of nearly $US200,000 million, when compared to the first four months of 2013.
Between January and April this year, the country’s exported a $US521-million worth of goods.
That’s a decline of $US77-million when compared to the similar period in 2013.
According to STATIN these numbers saw the country’s trade deficit for the first four months of this year, fall by 122-million US dollars when compared to last year.
The country exported 216-million US dollars worth of goods to its major trading market, the United States, between January and April this year.
However is imported $US646-million worth of goods, resulting in a widening of its trade deficit with the United States to $US430-million, up from $US405 million a year earlier.
STATIN says the country’s exports of domestic agricultural products declined over the first four months of this year, due mainly to a contraction in earnings from coffee.
It says bauxite exports declined by less than 1% over the period, even as earnings from alumina increased by well over 1%.
Jamaica’s export of non traditional domestic crops also declined over the review period this year, taking in $US66-million less than it did in 2013.
STATIN says the country imported $US296-million worth of goods from CARICOM over the first four months of this year, a 20% increase compared to last year.
Conversely, Jamaican exports to CARICOM were valued at $US 38million dollars a 69% increase compared to last year.
STATIN says the country’s trade deficit with CARICOM after the first four months this year, was $US258 million.
Dennis Brooks for Nationwide News.
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