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Jamaica improves its trade balance with CARICOM

Posted in: Regional News | 10 February 2015 | 5450


    KINGSTON, February 7, 2015 - While Jamaica’s Trade deficit with the United States showed need for improvement, Jamaica's trade balance with the rest of  the region improved over the first ten months of  last year as imports fell and exports increased.

    The latest trade data show that at the end of  October exports to CARICOM were valued at US$72 million. That was up from US 65 million for the corresponding period of  the prior year. 

    At the same time, imports declined to US$665 million, from US$718 million in 2013.    

    The value of  imports fell as Jamaicans consumed less oil and food from the region.   

    Higher exports of  manufactured goods and chemicals accounted for the improved earnings.