Jamaica recorded a trade deficit of 1147417.65 USD Thousand in the third quarter of 2019.

Balance of Trade in Jamaica averaged -760602.77 USD Thousand from 1992 until 2019, reaching an all time high of -121925 USD Thousand in the second quarter of 1992 and a record low of -1682374.89 USD Thousand in the third quarter of 2008. This page provides - Jamaica Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Jamaica Balance of Trade - values, historical data and charts - was last updated on May of 2020.

Balance of Trade in Jamaica is expected to be -1140000.00 USD Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Jamaica to stand at -1160000.00 in 12 months time. In the long-term, the Jamaica Balance of Trade is projected to trend around -1495000.00 USD Thousand in 2021 and -1545000.00 USD Thousand in 2022, according to our econometric models.

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Jamaica Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-1147417.65 -1176306.38 -121925.00 -1682374.89 1992 - 2019 USD Thousand Quarterly

Jamaica Trade Last Previous Highest Lowest Unit
Balance of Trade -1147417.65 -1176306.38 -121925.00 -1682374.89 USD Thousand [+]
Current Account -20.56 -141.80 153.47 -536.06 USD Million [+]
Current Account to GDP -2.80 -2.60 -1.20 -20.40 percent [+]
Imports 1533478.91 1650616.35 2437559.33 395093.00 USD Thousand [+]
Exports 386061.26 474309.97 796370.98 244067.00 USD Thousand [+]
Remittances 2415.10 2345.80 2415.10 968.00 USD Million [+]
Terrorism Index 0.47 1.09 1.09 0.00 [+]
Tourist Arrivals 487391.00 328919.00 487651.00 102095.00 people [+]
Capital Flows -489.68 -87.20 2187.69 -689.27 USD Million [+]
External Debt 14071.76 14040.53 14754.06 8782.88 USD Million [+]
Foreign Direct Investment 148.00 169.00 273.82 68.70 USD Million [+]


Jamaica Balance of Trade
In Jamaica, trade accounts for around 50 percent of GDP. Yet, Jamaica imports most of the goods it consumes, leading to consistent trade deficits of around 20 percent of GDP. Jamaica is a major exporter of bauxite used for aluminium production. Other exports include ethanol, cane sugar, alcoholic beverages, coffee, scrap metal, cyclic compounds and manioc. Jamaica’s main trading partner is the United States (52 percent of total trade). Others include Venezuela, Trinidad & Tobago, Canada, China, the United Kingdom, Brazil and Japan.