JAMAICA’S trade with the US, Mexico and Canada climbed between January and October 2021, with imports valuing US$2,086.7 million, up 21.0 per cent above the US$1,725.0 million spent buying goods from those countries over the January to October period of 2020, the Statistical Institute of Jamaica (Statin) reports.

Exports rose as well to those countries. The United States, Canada and Mexico formed the USMCA in June 2020 to replace the North American Free Trade Agreement (NAFTA), which itself had been operational from 1994 to 2020.

Comparatively, Jamaica exported US$175.9 million to the European Union and US$78.3 million in goods to Caricom countries over the same review period. In all categories, exports were less than imports, but represented an increase over 2020. The data are the latest from the Statin.

For the USMCA, Statin recorded that the increase was due largely to higher imports of “Mineral Fuels” and “Food”. Expenditure on “Mineral Fuels” amounted to US$532.0 million, up from the US$356.6 million spent in 2020. Imports of “Food” increased by 18.6 per cent to US$441.7 million, when compared to the US$372.4 million recorded in the similar 2020 period.

Earnings from total exports to the region for the 2021 review period amounted to US$677.3 million, an increase of 19.0 per cent when compared to US$569.0 million for the similar period in 2020. The main contributor to this increase was “Mineral Fuels’, which were valued at US$284.1 million, 60.5 per cent above the US$177.0 million earned in 2020.

EU Trade

Expenditure on imports from the European Union (less UK) for the review period was US$296.8 million, 1.2 per cent below the US$300.4 million spent during the comparable 2020 period.

This was due primarily to a fall in the imports of “Machinery and Transport Equipment” and “Manufactured Goods”. Imports of “Machinery and Transport Equipment” were valued at US$92.3 million, a decline of 9.6 per cent when compared to the US$102.2 million spent in 2020.

Imports of “Manufactured Goods” decreased by 11.7 per cent to US$35.2 million when compared to US$39.9 million in the similar 2020 period.

Total exports to the European Union (less UK) for January to October 2021 were valued at US$175.9 million, US$75.2 million above the US$100.7 million earned for the comparable 2020 period.

Statin said that this was primarily attributed to a 69.9 per cent increase in alumina exports.

Caricom trade

There was an increase of 12.3 per cent in the value of imports from the Caricom region for the review period. Expenditures on goods were valued at US$235.3 million, up from the US$209.5 million recorded for the similar period in 2020.

This was due mainly to higher imports of “Food” and “Manufactured Goods”. Expenditure on “Food” amounted to US$123.9 million, 11.1 per cent above the US$111.5 million spent in 2020.

Imports of “Manufactured Goods” were valued at US$19.2 million, an increase of 44.0 per cent when compared to US$13.3 million in 2020.

Earnings from total exports to the Caricom region amounted to US$78.3 million, an increase of 19.2 per cent when compared to the US$65.7 million recorded for the similar period in 2020.

The increase was due largely to higher exports of “Mineral Fuels” and “Beverages & Tobacco”. Earnings from “Mineral Fuels” were US$21.7 million, up from US$14.9 million in the similar 2020 period.

Exports of “Beverages & Tobacco” were valued at US$14.5 million, an increase of 28.1 per cent when compared to the US$11.4 million recorded in the corresponding 2020 period.

Total exports

Domestic exports for January to October 2021 increased by 14.5 per cent to US$1,113.6 million. There were higher exports of refined petroleum products, which increased by 56.3 per cent to US$295.2 million.

Earnings from the food, beverages and tobacco sub-group amounted to US$283.5 million, 15.7 per cent above the US$245.1 million in the similar 2020 period. This was due mainly to increased exports of alcoholic beverages — excluding rum — (US$60.7 million), sauces (US$30.4 million), ackee (canned) (US$20.6 million) and fish & fish products (US$14.0 million).

Processing of other fruits & vegetables and dairy products also increased to US$13.7 million and US$10.5 million, respectively. Earnings from the agriculture industry were valued at US$69.3 million, an increase of 8.1 per cent when compared to the US$64.1 million recorded in January to October 2020. This was due primarily to higher exports of yams and coffee. Yam exports amounted to US$31.8 million, 7.0 per cent above the US$29.7 million in 2020. Exports of coffee increased by 2.4 per cent to US$15.3 million.

Exports from the mining and quarrying industry decreased by 0.8 per cent to US$418.7 million, in comparison to the US$422.1 million recorded for the corresponding 2020 period. This was due mainly to the 21.2 per cent fall in bauxite earnings to US$58.5 million, compared to US$74.2 million in 2020. Exports of alumina, however, increased by 4.0 per cent to US$356.0 million.