Durrant Pate/Contributor

Imports into Jamaica again far surpassed declining exports for the first five months of 2025, according to the latest international merchandise trade (IMT) bulletin.

The IMT bulletin for May 2025, released today (September 24) by the Statistical Institute of Jamaica (STATIN), shows Jamaica’s trade deficit widening as total spending on imports was valued at US$3.161 billion, while earnings from total exports were valued at US$773.0 million.

The value of imports increased by 3.6 per cent compared to US$3.05 billion in 2024. This was driven by increased imports of ‘Raw Material/Intermediate Goods’, ‘Consumer Goods’ and ‘Fuels and Lubricants’, which rose by 7.3 per cent, 7.1 per cent and 8.3 per cent, respectively. 

Total exports for the review period amounted to US$773.0 million, 6.9 per cent lower than the US$830.7 million earned in January to May 2024. This decline was due to a 26.8 per cent fall in the value of ‘Mineral Fuels’. 

Main trading partners

The five main import trading partners for the first five months of the year were the United States, China, Brazil, Nigeria and Japan. Expenditure on imports of goods from these countries increased by 9.8 per cent to US$1.95 billion compared with the same period in 2024. 

This increase was due largely to a rise in the value of imports of Mineral Fuels and Chemicals. The top five destinations for Jamaica’s exports were the US, Russia Federation, Iceland, Canada and the Netherlands. 

Export revenues from these countries declined by 0.7 per cent to US$558.5 million, primarily due to a drop in the value of ‘Mineral Fuels’ exports.