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.