KINGSTON, Jamaica, CMC—Jamaica recorded an 8.6 % decline in export earnings from January to November 2024, based on the Statistical Institute of Jamaica (STATIN) in its newest worldwide commerce merchandise bulletin, launched on Wednesday.
The decline is measured towards the US$1,862.8 million the nation earned throughout the comparable interval in 2023.
“This decline was primarily because of a 63.2 % lower within the worth of re-exports, which was valued at US$168.0 million throughout the evaluate interval,” stated STATIN.
Alternatively, home exports elevated by 9.2 % to US$1,534.5 million because of a 30.5 % rise in exports from the mining and quarrying business.
“The primary contributor to this improve was a 41.2 % rise in alumina earnings, which moved to US$607.2 million from US$430.1 million in 2023,” STATIN stated.
In the meantime, the worth of imports declined by 4.0 % throughout the 11 months in comparison with the US$6,982.0 million spent within the comparable interval in 2023.
“This lower was attributable to decrease imports of uncooked supplies/intermediate items and fuels and lubricant, which fell by 10.5 % and seven.9 %, respectively,” the institute famous.
