Jamaica’s exports fell by 16 per cent for the period January to November 2019 while Imports increased by almost 4 per cent for the same period.
That’s according to data released this afternoon by the Statistical Institute of Jamaica, STATIN.
The Statistical Institute is reporting that Jamaica’s imports for the period were valued at just over 5-point-9 billion dollars compared to the 5-point-6 billion dollars spent for the similar period in 2018.
It further outlined that revenue from exports amounted to 1-point-4 billion dollars for the review period.
That’s 15-point-6 per cent lower than the 1-point-7 billion dollars earned in 2018.
The major commodities that contributed to this increase were Food, Machinery and Transport Equipment, Miscellaneous Manufactured Articles and Mineral Fuels.
Imports of Food were valued at US 942 million dollars, 13 per cent above the 832 million spent in the 2018 period.
The increase was due mainly to higher imports of Cereals and Cereal Preparations, Miscellaneous Edible Products and Preparations and Dairy Products and Bird Eggs.
STATIN says Earnings from Traditional Domestic Exports for January to November 2019 were valued at 843 million US dollars representing a decrease of 25 per cent when compared to the 1 point 1 billion dollars exported in 2018.
Traditional domestic exports accounted for 59.6 per cent of total domestic exports.