Jamaica’s trade deficit continued to narrow in the first quarter of 2014.
The Statistical Institute of Jamaica, STATIN, says Jamaica imported goods amounting to $USD1.4B during the period.
This is down 14% from the $USD1.6B worth of goods imported in the January to March quarter of 2013.
Total exports for the period amounted to $358m US dollars, down 23% from the same period in 2013.
At the end of the first quarter the total merchandise trade deficit amounted to just over $USD1B compared to $USD1.2B last year.
Imports from Jamaica’s main trading partner, the United States of America, were valued at $USD488M
Meanwhile, approximately $USD159M or 41% of total exports were sent to the USA between January and March 2014.
At the end of the first quarter of 2014 Jamaica incurred a trade balance with the United States of $USD329M, down by 6% from the first quarter of 2013.
