Import spending up, export earnings also up

Jamaica spent more money on imports at the end of April this year, compared to April 2021.
The Statistical Institute of Jamaica (STATIN) says for January to April, spending on imports amounted to US2.3 billion.
That represents a 34 per cent increase in imports compared to the same four month period in 2021.
The up-tick was driven by increased spending in the categories Raw Materials/Intermediate Goods, and Fuel.
Export earnings
The country also earned more money from exports.
STATIN has reported that the country earned US$511 million from locally produced goods sold outside of Jamaica.
Export earnings for January to June this year were 1.3% higher than the corresponding period in 2021, when $504 million was earned.
The increase in exports was due primarily to a 53 per cent jump in the value of exports in the category Mineral Fuels.

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