Jamaica's merchandise trade deficit widened during the first half of this year, as the country spent almost five times more on imports than it earned from exports.
New data from the Statistical Institute of Jamaica (STATIN) show that Jamaica spent US$3.92 billion on imports between January and June.
That was an increase of four per cent compared with the same period last year.
The increase was driven mainly by higher spending on raw materials and intermediate goods, as well as fuels and lubricants.
Spending on raw materials and intermediate goods increased by 4.7 per cent, while expenditure on fuels and lubricants rose by 6.7 per cent.
Meanwhile, Jamaica earned just US$817.8 million from exports during the six-month period.
That was a decline of 7.7 per cent compared with the corresponding period last year.
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