Jamaica: Perfil comercial
Jamaica is open to foreign trade, which represents 90% of its GDP (World Bank, latest data available). The country is a member of CARICOM and WTO. Jamaica’s main imports include food and other consumer goods, industrial supplies, fuel, parts and accessories for capital goods, machinery, transport equipment, and construction materials. The country is also a leading global exporter of bauxite and alumina. Jamaica’s main imports consist of food and other consumer goods, industrial supplies, fuel, parts and accessories for capital goods, machinery, transport equipment, and construction materials (data from the Ministry of Foreign Affairs and Foreign Trade).
According to data from the Statistical Institute of Jamaica (STATIN), in 2024, Jamaica’s main trading partners were the United States, China, Brazil, Japan, and Colombia. The top export destinations were the United States, the Russian Federation, the Netherlands, Canada, and Iceland. Imports under the USMCA fell by 7.9% to USD 3,106.1 million, while imports from CARICOM declined by 5.1% to USD 413.0 million. In contrast, imports from the European Union rose slightly by 0.2% to USD 590.4 million. Jamaica and other countries participating in the CARICOM Single Market and Economy have harmonised their import tariffs applied to third countries. Nevertheless, import duties on some agricultural products and certain consumer goods remain high to protect local producers. Some tax exemptions have also been eliminated, and the country benefits from certain assets, such as its marine harbours, seaports, high-quality transportation infrastructure, and uncomplicated customs regulations.
The foreign trade balance is structurally negative. According to STATIN, Jamaica’s trade deficit at the end of 2024 declined by 3.0% to USD 5,420.8 million, compared to USD 5,590.3 million in 2023. Total import spending for the year amounted to USD 7,288.0 million, down 4.0% from USD 7,592.0 million in 2023. Export earnings totalled USD 1,867.2 million, a 6.7% decrease from the USD 2,001.8 million recorded in the previous year. This drop was mainly due to a 62.9% decline in the value of re-exports. Meanwhile, domestic exports grew by 11.0% compared to the same period in 2023.
| Foreign Trade Indicators | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Imports of Goods (million USD) | 4,765 | 5,971 | 7,731 | 7,592 | 7,321 |
| Exports of Goods (million USD) | 1,251 | 1,481 | 1,901 | 2,002 | 1,928 |
| Imports of Services (million USD) | 1,653 | 3,081 | 3,155 | 3,403 | 3,396 |
| Exports of Services (million USD) | 1,967 | 2,889 | 4,491 | 5,242 | 5,225 |
| Trade Balance (million USD) | -2,949 | -2,782 | -4,608 | -4,400 | -4,199 |
Source: WTO – World Trade Organisation ; World Bank - Latest available data.
| Main Customers (% of Exports) |
2023 |
|---|---|
| United States | 50.5% |
| Russia | 6.9% |
| Latvia | 6.5% |
| Iceland | 4.7% |
| United Kingdom | 3.4% |
| See More Countries | 27.9% |
| Main Suppliers (% of Imports) |
2023 |
|---|---|
| United States | 41.3% |
| China | 8.0% |
| Brazil | 4.8% |
| Japan | 3.8% |
| Colombia | 3.7% |
| See More Countries | 38.3% |
Source: Comtrade, Latest Available Data
Source: Comtrade, Latest Available Data
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| 4.5 bn USD of services exported in 2022 | |
|---|---|
| 80.08% | |
| Personal travelPersonal travel | 80.08% |
| OtherOther | 13.17% |
| 6.81% | |
| 6.75% | |
| 2.82% | |
| 2.32% | |
| 0.69% | |
| 0.36% | |
| 0.11% | |
| 0.05% | |
| 3.2 bn USD of services imported in 2022 | |
|---|---|
| 47.66% | |
| 28.88% | |
| 9.16% | |
| Personal travelPersonal travel | 7.61% |
| OtherOther | 43.18% |
| Business travelBusiness travel | 1.55% |
| 4.81% | |
| 2.50% | |
| 1.91% | |
| 1.58% | |
| 1.31% | |
| 1.17% | |
| 1.01% | |
Source: United Nations Statistics Division, Latest Available Data
List of tariffs and local taxes that apply to your product on our service Customs Duties and Local Taxes
Member of Free Trade area of America
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Latest Update: October 2025