Jamaica's import bill continue to outpace export earnings during the first eight months of the year.
New data released by the Statistical Institute of Jamaica (STATIN) indicate that total spending on imports for the period January to August amounted to just over US$5.1 billion.
This represents a 3.7 per cent increase compared to the same period last year, driven mainly by higher imports of raw materials and intermediate goods as well as consumer goods. Imports of raw materials and intermediate goods rose by nearly 12 per cent while consumer goods imports increased by just over nine per cent.
Earnings from total exports over the period stood at about US$1.2 billion.
A marginal increase of one per cent compared to the corresponding period in 2024.
STATIN says the improvement was largely due to higher exports of crude materials excluding fuels.
The United States remained Jamaica's main trading partner.
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