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Jamaica claws back its export markets

JAMAICA is seeing an uptick in export numbers, according to the most recent trade information produced by the Statistical Institute of Jamaica and the Jamaica Manufacturers and Exporter’s Association (JMEA).

Domestic exports for the January to April 2021 period increased by 5.6 per cent to value US$435 million, resulting in increased earnings from the manufacturing and mining and quarrying industries.

The Jamaica Manufacturers and Exporters Association compiled the trade information in collaboration with the Statistical Institute of Jamaica.

Exports from manufacturing were valued at US$227.4 million, 4.1 per cent above the US$218.3 million recorded for January to April 2020 and mainly due to an increase in exports from the subcategory food, beverages and tobacco.
Exports from the food, beverages and tobacco subcategory, meanwhile, were valued at US$107.0 million, an increase of 17.0 per cent when compared to US$91.5 million recorded for January to April 2020.

This was due primarily to increased exports of alcoholic beverages (excluding rum) valued at US$21.8 million), rum (US$19.2 million), and sauces (US$12.2 million).

Some products slip

The other manufactured products subcategory, however, recorded a fall of 5.1 per cent to value US$120.4 million when compared to the US$126.9 million recorded for January to April 2020. This was due mainly to declines in exports of refined petroleum products (US$109.3 million) and chemical & chemical products (US$7.4 million), by 2.5 per cent and 31.2 per cent, respectively.

The Petroleum Corporation of Jamaica plant in Kingston. (File photo)

NAFTA trade

Statin indicates that expenditure on imports for January to April 2021 from the US, Canada and Mexico bloc, was valued at US$792.1 million, 8.4 per cent above the US$730.6 million spent for January to April 2020.
Comparatively, total exports to the region were valued at US$267.7 million, 0.8 per cent below the US$269.8 million earned for January to April 2020. This was due primarily to a decline in exports of “Mineral Fuels”, which were valued at US$107.5 million, when compared to the US$111.6 million recorded for January to April 2020.

European trade

Imports from the European Union were valued at US$99.3 million, 18.9 per cent below the US$122.3 million spent for January to April 2020.

While Jamaican export of minerals to Europe rose, exports to the North American Free Trade Area declined. (File photo)

Total exports to the region were valued at US$92.6 million, US$62.2 million above the US$30.4 million earned for January to April 2020. The increase in earnings from exports to the EU was mainly attributable to exports of alumina which were valued at US$66.9 million, up from US$24.4 million for the similar 2020 period.

Total exports to the European were valued at US$92.6 million, US$62.2 million above the US$30.4 million earned for January to April 2020. The increase in earnings from exports to the EU was mainly attributable to exports of alumina which were valued at US$66.9 million, up from US$24.4 million for the similar 2020 period.

Expenditure on imports from the Caricom region for January to April 2021 amounted to US$91.7 million, 2.8 per cent above the US$89.3 million spent for January to April 2020.

Total exports to the Caricom region for January to April 2021 were valued at US$28.0 million, an increase of 7.0 per cent when compared to the US$26.1 million recorded for the comparable 2020 period. This was primarily due to increased exports of “mineral fuels” and “beverages and tobacco”. Export earnings from “mineral fuels” amounted to US$6.8 million, up from the US$3.2 million earned for the similar 2020 period. Exports of “beverages and tobacco” was valued at US$5.6 million, when compared to the US$5.3 million recorded in the comparable 2020 period.