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By Javaughn Keyes
In the first three months of 2024, Jamaica’s trade deficit increased.
This is detailed in the latest international merchandise trade data released by the Statistical Office of Jamaica (STATIN).
The country had a trade deficit of $1.8 billion in the January-April period this year.
The gap between export revenue and import expenditure widened compared to $1.76 billion in the same period of 2023.
Imports in the period rose 0.5 percent to $2.45 billion, STATIN said.
In comparison, between January and April 2023, $2.44 billion was spent on imported goods.
The National Bureau of Statistics said the increase was mainly due to Fuels and lubricants import.
It also rose by 5.5% consumer goods import.
Meanwhile, Jamaica’s total export revenue fell 4.1% to $647.2 million from January to April 2024. In the same period last year, Jamaica’s total export revenue was $674.6 million.
The decline in export revenue was mainly due to Mineral fuels.
STATIN said re-exports from January to April this year totaled $89.9 million, compared with $164.6 million in the same period of 2023.
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