Jamaica recorded a trade deficit of 791489 USD Thousand in the third quarter of 2020. source: Bank of Jamaica

Balance of Trade in Jamaica averaged -765445.69 USD Thousand from 1992 until 2020, 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 September of 2021.

Balance of Trade in Jamaica is expected to be -1195000.00 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 -1202000.00 in 12 months time. In the long-term, the Jamaica Balance of Trade is projected to trend around -1200000.00 USD Thousand in 2022 and -1190000.00 USD Thousand in 2023, according to our econometric models.

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Jamaica Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-791489.00 -723505.76 -121925.00 -1682374.89 1992 - 2020 USD Thousand Quarterly

Jamaica Trade Last Previous Highest Lowest Unit
Balance of Trade -791489.00 -723505.76 -121925.00 -1682374.89 USD Thousand [+]
Current Account -46.10 -15.50 153.47 -536.06 USD Million [+]
Current Account to GDP 0.20 -1.90 0.20 -20.40 percent of GDP [+]
Imports 1089040.00 984354.78 2437559.33 395093.00 USD Thousand [+]
Exports 354642.41 307758.00 796370.98 244067.00 USD Thousand [+]
Remittances 2905.00 2405.60 2905.00 968.00 USD Million [+]
Terrorism Index 0.23 0.47 1.09 0.00 [+]
Tourist Arrivals 90164.00 49413.00 487651.00 0.00 people [+]
Capital Flows 113.80 -117.58 2088.25 -679.40 USD Million [+]
External Debt 13626.63 13634.90 14754.06 8842.61 USD Million [+]
Foreign Direct Investment 50.60 50.59 273.82 22.10 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.