The trade deficit narrowed in the first nine months of last year when compared with the previous year.
Both imports and exports registered declines but the decline in imports was greater than the drop in exports.
Imports for the period amounted to US$5.52 billion, reflecting a 4.2?cline compared to the US$5.76 billion recorded in the similar period in 2023.
The Statistical Institute of Jamaica (STATIN) says the reduction was primarily driven by lower imports of Raw Materials/Intermediate Goods at 12.4% and Fuels and Lubricants, which declined by 6.3%.
Meanwhile, total exports for the nine-month period stood at 1.36 billion US dollars, representing a 10.8?crease from the 1.52 billion US earned in the corresponding period of 2023.
This decline was largely attributed to a 57.8% drop in re-exports, which totaled 150.9 million US during the review period.
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