The Statistical Institute of Jamaica (STATIN) reported last week that the country’s exports to members in the Caribbean Community (CARICOM) grew by 17.7 per cent for the period January to August 2019.
Jamaica’s exports to CARICOM rose million from US$52.3 in the same period in 2018 to US$61.6 million.
“Re-exports increased to value US$8.3 million, moving up by 5.4 per cent, from the US$7.9 million for January – August 2018,” STATIN shared in a press release.
‘Exports of food to CARICOM reached US$22.6 million, or 5.5 per cent more than the US$21.4 million earned for January – August 2018.’– STATIN
“Domestic exports earned US$53.2 million, an increase of 19.9 per cent when compared to the US$44.4 million earned in 2018,” it continued.
STATIN noted that exports of food to the region in large part accounted for this improvement. Exports of food to CARICOM reached US$22.6 million, or 5.5 per cent more than the US$21.4 million earned for January – August 2018.
In contrast, imports from CARICOM fell to 38.8 per cent less than the US$330.6 million recorded in 2018. Imports from the subregion reached US$202.3 million at the end of August, with mineral fuels and chemicals contributing to the plunge.
“Imports of foods however increased by 6.2 per cent and were valued at US$96.7 million,” STATIN revealed.