This page provides forecast and historical data, charts, statistics, news and updates for Jamaica Current Account Balance. Trade in services is not included. (download excel spreadsheet) Chart. A country with a current account surplus has more value flowing into it.   The TECA is a Partial Scope Agreement, mainly focused on the trade in goods, which committed the Parties to working towards the eventual conclusion of a full Free Trade Agreement in 2001. Trade balance, billion USD Definition: Net trade in goods and services is derived by offsetting imports of goods and services against exports of goods and services. The United States and Jamaica foster prosperity and stability for both countries within the Caribbean Basin Security Initiative (CBSI). Jamaica Trade Statistics. It compares with market expectations of a $43.8 billion shortfall. For the 2018 review period, Jamaica recorded a trade deficit with the EU of US$215.1 million. Jamaica: On the Path to Higher Economic Growth. The lowest data : 2008 is the lowest year for the indicator : Balance of trade (% of GDP). Jamaica is a major exporter of bauxite used for aluminium production. As a Premium user you get access to background information and details about the release of this statistic. The ideal entry-level account for individual users. C. the country import all goods that its residents want by engaging in foreign trade. Download Historical Data Save as Image Data Source: World Bank In 2018, net trade in goods for Jamaica was -3,458 million US dollars. WTO, & Statista. Jamaica trade balance, exports and imports by country 2017 In 2017, Jamaica major trading partner countries for exports were United States, Netherlands, Canada, United Kingdom and Iceland and for imports they were United States, Japan, China, Trinidad and Tobago and Colombia. 3.2 Agricultural and food trade balance. Exports of Goods and Services for Jamaica from International Monetary Fund (IMF) for the International Financial Statistics (IFS) release. Please do not hesitate to contact me. Please create an employee account to be able to mark statistics as favorites. facts. Jamaica's other major trading partners include China, Japan, and Trinidad and Tobago. This page gathers key information on Jamaica's participation in the WTO. "Jamaica: Trade balance from 2009 to 2019 (in billion U.S. Others include Venezuela, Trinidad & Tobago, Canada, China, the United Kingdom, Brazil and Japan. A country’s overall trade balance is measured by adding up all the various trade surplus and trade deficits it has with all of its trading partners. By currently reviewing its trade policy, Jamaica seeks to improve its trade and export performance and mainstream trade in its development strategy. This Agreement was ratified by Jamaica on July 29, 2014 and fully implemented on March 16, 2015. more. Register in seconds and access exclusive features. Compiled from data provided by the Jamaica Tourist Board and the Ministry of Tourism. Net trade in goods and services is derived by offsetting imports of goods and services against exports of goods and services. COVID-19 deaths worldwide as of January 8, 2021, by country, COVID-19 cases worldwide as of January 8, 2021, by country, Coronavirus (COVID-19) cases, recoveries, and deaths worldwide as of Jan. 8, 2021, Cumulative cases of COVID-19 worldwide from Jan. 22, 2020 to Jan. 7, 2021, by day. Corporate solution including all features. The result is: -4,061,283,598 $. Current Account Balance for Jamaica from International Monetary Fund (IMF) for the International Monetary Fund - Balance of Payments (BOP) release. Related to Jamaica\\\'s trade with CARICOM. Jamaica’s main trading partner is the United States (52 percent of total trade). For a number of years the surplus with the EU has become a deficit. taking into account imports and exports, production and trade in both goods and services In Jamaica, trade accounts for around 50 percent of GDP. In 2014, the state exported $1.43B and imported $ 5.8B. In, WTO, und Statista. Data are in current U.S. dollars. Jamaica tourism statistics for 2015 was 2,401,000,000.00, a 6.47% increase from 2014. The US trade deficit narrowed to $43.1 billion in November of 2019 from a downwardly revised $46.9 billion gap in the previous month. "Jamaica: Trade Balance from 2009 to 2019 (in Billion U.S. Jamaica Economic Growth The economy will suffer a steep contraction this year due to Covid-19, but is set to rebound next year as both domestic and foreign demand strengthen. The analysed country is : Jamaica. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. Compilation of JamaicaCompilation of Jamaica’’ss Extended Balance ofExtended Balance of Payments ServicesPayments Services Workshop on Statistics of International Trade in Services Challenges and Good Practices, Rio de Janeiro, 1 –– 4 December 20094 December 2009 Presented by Chandar Henry Bank of Jamaica The trade balance is the value of goods exports minus the value of goods imported. Corporate Office 2-4 King Street, Kingston Phone: 876 948 5151 Kingston, Jamaica: The Trade Board Limited (TBL) in partnership with the Jamaica Customs Agency (JCA) will pilot the Jamaica Single Window for Trade (JSWIFT) with scrap metal exporters starting Monday, June 22, 2020. Facebook: number of monthly active users worldwide 2008-2020, Smartphone market share worldwide by vendor 2009-2020, Number of apps available in leading app stores 2020, Profit from additional features with an Employee Account. The analysed country is : Jamaica. Jamaica’s main trading partner is the United States (52 percent of total trade). The trade balance measures the gap between a country’s exports and its imports. New, Everything you need to know about the industry development, Find studies from all around the internet. November 7, 2019. New, Figures and insights about the advertising and media world, Industry Outlook A country is said to be in balance-of-trade equilibrium when: A. it has the potential to produce all goods that its residents want without engaging in foreign trade. Other exports include ethanol, cane sugar, alcoholic beverages, coffee, scrap metal, cyclic compounds and manioc. Below you will find the last recordings for the indicator : Balance of trade (US Dollars). Wednesday, October 23, 2019 . Exports include reexports. Bilateral relations between Jamaica and the United States are generally good. National debt of Jamaica in relation to gross domestic product (GDP) 2025. The Trading Economics Application Programming Interface (API) provides direct access to our data. Trade Board Pilots Single Window with Scrap Metal Exporters. Jamaica: Trade balance from 2009 to 2019 (in billion U.S. dollars) [Graph]. Thus, the Soviet Union's hard-currency balance of trade, including arms sales, with the Third World was positive from 1980 through 1986. Imports and exports increased over 2017. Below you will find the last recordings for the indicator : Balance of trade (% of GDP). Despite the growing concerns over the outbreak of the deadly novel coronavirus in the United States and the United Kingdom, the Holness administration has acknowledged that the potential fallout from Jamaica’s major trading partners has swayed the decision to delay a ban. This statistic has been calculated by Statista using data from the World Trade Organization. The United States remains Jamaica’s main trading partner, accounting for 40 percent of the nation’s total trade. Net trade in goods is the difference between exports and imports of goods. The United States remains Jamaica's main trading partner, accounting for almost 40 percent of the nation’s total trade. Exports to the UK declined over 2017, while imports increased. You can only download this statistic as a Premium user. A trade deficit is an amount by which the cost of a country's imports exceeds its exports. Exports in Jamaica averaged 399212.53 USD Thousand from 1992 until 2020, reaching an all time high of 796370.98 USD Thousand in the second quarter of 2008 and a record low of 244067 USD Thousand in the fourth quarter of 1992. This excess expenditure has to be met from other resources (savings/reserves), aid (development support), loans, etc. Please authenticate by going to "My account" → "Administration". Jamaica also recorded a trade deficit with the UK. Trade balance of Jamaica 2019. You need at least a Single Account to use this feature. The country’s garment exports have declined to near zero in the past few years, mainly due to increased competition and high cost of operations. The United States and Jamaica maintain strong and productive relations, based on trust and mutual interest. Statista. Jamaica s overall trade deficit for January to October 2018 was US$3.5 billion, a 2.4% increase over the comparable period in 2017, writes Elizabeth Morgan. The ongoing review of Jamaica’s trade policy is motivated by the Government’s assessment that the country’ trade has underperformed over the last 20 years. 2020 : U.S. trade in goods with Jamaica . Mineral fuels are the top contributors to Jamaica’s import bill followed by food items. Jamaica Trade Last Previous Highest Lowest Unit; Balance of Trade -723505.76-958769.73-121925.00-1682374.89: USD Thousand Jamaica trade … Quick Analysis with our professional Research Service: Content Marketing & Information Design for your projects: Industry-specific and extensively researched technical data (partially from exclusive partnerships). MEMBER INFORMATION. Jamaica trade balance, exports and imports by country 2017 In 2017, Jamaica major trading partner countries for exports were United States, Netherlands, Canada, United Kingdom and Iceland and for imports they were United States, Japan, China, Trinidad and Tobago and Colombia. Jamaica has been a member of WTO since 9 March 1995 and a member of GATT since 31 December 1963. Fitch Upgrades Jamaica Rating to "B+", Stable Outlook, Egypt Inflation Rate Eases to 5.4% in December, FDI into the Philippines Smallest in 6 Months, Brazilian Shares Finish at New Record High, WTI Crude Books Big Weekly Gain after Saudi Arabia Cut, Gold Sinks More than 3% to Near 1-Month Low. Available to download in PNG, PDF, XLS format, Access to this and all other statistics on 80,000 topics from. Jamaica's Imports, Exports, And Trading Partners. It's one way of measuring international trade, and it's also called a negative balance of trade. This was mainly due to a bourgeoning merchandise trade deficit emanating mainly from our dependence on imported fuel and weak growth in exports. National debt of Jamaica in relation to gross domestic product (GDP) 2025. Trade balance of Jamaica 2019. The current account balance includes the trade balance, plus investment income between nations, plus cash transfers. Profit from additional features by authenticating your Admin account. The values have been rounded to provide a better understanding of the statistic.*Estimate. Jamaica : Table - Balance of trade (% of GDP) Balance Of Visible Trade. Show all statistics (14) National finances National debt of Jamaica 2024. Jamaica's other major trading partners include China, Colombia, Canada, Trinidad and Tobago, Japan, and Norway. Jamaica’s trade with the United States fell 28.8 percent, from $2.45 billion to $1.74 billion through the first 10 months of 2020 when compared to the same period the previous year, according to a WorldCity analysis of latest U.S. Census Bureau data. ", WTO & Statista, Jamaica: Trade balance from 2009 to 2019 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/527173/trade-balance-of-jamaica/ (last visited January 10, 2021), Median age of the population in Jamaica 1950-2050, Gross domestic product (GDP) in Jamaica 2021, Gross domestic product (GDP) per capita in Jamaica 2025, Gross domestic product (GDP) growth rate in Jamaica 2025, Jamaica: Share in global GDP adjusted for PPP 2025, Share of economic sectors in the GDP in Jamaica 2019, Employment by economic sector in Jamaica 2020, Youth unemployment rate in Jamaica in 2020, National debt of Jamaica in relation to gross domestic product (GDP) 2025, Ratio of military expenditure to gross domestic product (GDP) in Jamaica 2019, Ratio of government expenditure to gross domestic product (GDP) in Jamaica 2025, Jamaica's budget balance in relation to GDP 2025, New cases of COVID-19 worldwide from January 23, 2020 to January 7, 2021, by day, Trade balance of the European Union with China 2009-2019, EU trade balance with China 2019, by product category, Current account balance APAC 2018 by country or region, Industry revenue of “Manufacture of costume jewelry and similar artifacts“ in Brazil 2011-2023, Industry revenue of “manufacture of fluid power equipment“ in Austria 2012-2024, Hong Kong: pre-purchase online activities 2015. During the last five reported years the imports of Jamaica changed by -$1.8B from $6.19B in 2013 to $4.4B in 2018. Jamaica has successfully concluded its economic reform program, which was supported by a US$1.66 billion Stand-By Arrangement from the IMF. The Jamaica Customs Agency ... the JCA recognises the importance of striking the delicate balance between border security and trade facilitation. Jamaica’s total trade with the United States was $194.59 million in October, a change of -11.73 percent from the same month one year ago. Customs House Myers Wharf, Newport East, Kingston 15 Phone: 876 922 5140-8 | 922 8770-3. The lowest data : 2008 is the lowest year for the indicator : Balance of trade (US Dollars). For the 2018 review period, Jamaica recorded a trade deficit with the EU of US$215.1 million. 1992-2020 Data | 2021-2023 Forecast | Historical | Chart. During the most recent 1996-2000 period, Jamaica has run a deficit on its agricultural trade (Table 2). International Trade in Jamaica The growth rate increase in 2006 (2.7%) was short-lived; the global economic crisis provoked a growth contraction of 3% in 2009, which partially improved in 2010, resulting in a growth estimated at 0.1%. Below you will find the last recordings for the indicator : Balance of trade (US Dollars). Yet, Jamaica imports most of the goods it consumes, leading to consistent trade deficits of around 20 percent of GDP. Table 2. (download excel spreadsheet) Tourism: Visitor Statistics. The lowest data : 2008 is the lowest year for the indicator : Balance of trade (% of GDP). Jamaica is a major exporter of bauxite used for aluminium production. It compares with market expectations of a $43.8 billion shortfall. Then you can access your favorite statistics via the star in the header. The analysed country is : Jamaica. Jamaica : Table - Balance of trade (US Dollars) Are you interested in testing our corporate solutions? Trade Balance Jan The Balance of Payments Account (BOP) Over the last eight years, Jamaica’s BOP account has been characterized largely by large current account deficits. Show all statistics (14) National finances National debt of Jamaica 2024. The result is: -29.69 %. (April 15, 2020). The Bahamas and Haiti are not signatories to the Agreement. Though Jamaica net trade in goods and services fluctuated substantially in recent years, it tended to decrease through 1999 - 2018 period ending at -2,143 million US dollars in 2018. Net trade in goods of Jamaica fell gradually from -1,186 million US dollars in 1999 to -3,458 million US dollars in 2018. Please contact us to get started with full access to dossiers, forecasts, studies and international data. A positive value indicates a trade surplus, a negative value a trade deficit. Industry revenue of “Manufacture of costume jewelry and similar artifacts“ in Brazil 2011-... Jamaica: Trade balance from 2009 to 2019 (in billion U.S. dollars), Find your information in our database containing over 20,000 reports, Tools and Tutorials explained in our Media Centre. Jamaica used to have a consistent trade surplus with the European Union (EU), including with the United Kingdom (UK), and with Canada. Jamaica : Table - Balance of trade (% of GDP) Balance of trade is defined as a nation's net exports, or its exports minus imports. For a number of years the surplus with the EU has become a deficit. Exports in Jamaica decreased to 260849.03 USD Thousand in the second quarter of 2020 from 379634.63 USD Thousand in the first quarter of 2020. Jamaica Trade Balance - -0.724 USD Billion in 2020. Download historical data for 20 million indicators using your browser. Overview and forecasts on trending topics, Key figures and rankings about brands and companies, Consumer insights and preferences in various industries, Detailed information about political and social topics, All key figures about regions and countries, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Technology Market Outlook Jamaica’s total exports in 2009 stood at $1.422 billion, down from $2.602 billion in … In most high-income economies, goods make up less than half of a country’s total production, while services compose more than half. Current Account Balance-A more “complete” picture of a country’s inflows and outflows. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. Jamaica trade balance for 2019 was $-2.16B, a 4.74% increase from 2018. Update, Insights into the world's most important technology markets, Advertising & Media Outlook Current Account Balance-A more “complete” picture of a country’s inflows and outflows. Jamaica and the WTO. In fact, the Soviet Union's positive hard-currency trade balance with the Third World exceeded its hard-currency deficit with the Western industrialized countries in … NOTE: All figures are in millions of U.S. dollars on a nominal basis, not seasonally adjusted unless otherwise specified. Jamaica … In 2018 Jamaica imported $4.4B, making it the number 135 trade destination in the world. Jamaica’s imported US$405 million less goods last year than it did in 2015 and exported US$60 million less for the same period leading to the trade deficit for 2016 falling by US$345 million to end at US$3.56 billion, data from Statistical Institute of Jamaica reported. Compiled from data on External Trade published by the Statistical Institute of Jamaica. HS Code Export USD$ (28) Inorganic Chemicals : $749,450,962 (27) Oil & Mineral Fuels However, the balance of risks remains tilted to the downside due to the closure of the Alpart alumina refinery and uncertainty over the pandemic: Further waves of the virus could lead to tightened restrictions. The US trade deficit narrowed to $43.1 billion in November of 2019 from a downwardly revised $46.9 billion gap in the previous month. Yet, Jamaica imports most of the goods it consumes, leading to consistent trade deficits of around 20 percent of GDP. Trade Winds introduces new milk products to market. The devastating COVID-19 decline in Jamaica’s tourism sector has created supply and demand imbalances and a glut of agricultural produce on … Below you will find the last recordings for the indicator : Balance of trade (% of GDP). The result is: -4,061,283,598 $. The result is: -29.69 %. The lowest data : 2008 is the lowest year for the indicator : Balance of trade (US Dollars). Others include Venezuela, Trinidad & Tobago, Canada, China, the United Kingdom, Brazil and Japan. Take-profit.org provides actual statistics, charts, historical data by presidents about trade surplus and deficit in Jamaica. Directly accessible data for 170 industries from 50 countries A paid subscription is required for full access. Data source is the Statistical Institute of Jamaica. A positive trade balance signifies a trade surplus, while a negative value signifies a trade deficit. Exports and imports of goods and services comprise all transactions involving a change of ownership of goods and services between residents of one country and the rest of the world. more. The United States established diplomatic relations with Jamaica in 1962 following Jamaica’s independence from the United Kingdom. Below are exports from Jamaica that result in negative net exports or product trade balance deficits. Dollars). TOTAL EXPORTS BY S.I.T.C. The current account balance of payments is a record of a country's international transactions with the rest of the world. From 1990 to 1998, Jamaica’s agricultural exports grew by about 28 percent, while imports increased by about 134 percent during the same period. Jamaica - Market OverviewJamaica - Market Overview Discusses key economic indicators and trade statistics, which countries are dominant in the market, the U.S. market share, the political situation if relevant, the top reasons why U.S. companies should consider exporting to this country, and other issues that affect trade, e.g., terrorism, currency devaluations, trade agreements. Jamaica services export is 3,827,560,950.50 in BoP, current US$ and services import is 2,512,249,070.90 in Bop, current US$.Jamaica exports of goods and services as percentage of GDP is 37.96% and imports of goods and services as percentage of GDP is 51.07%. Jamaica Balance of Trade In Jamaica, trade accounts for around 50 percent of GDP. Trade Balance in Jamaica Jamaica - Trade Balance The economy likely remained in the doldrums in Q3 amid the fallout from the global pandemic, after contracting sharply in Q2. and over 1 Mio. Jamaica’s trade deficit with the US and other nations declined to $1.349 billion in 2009 from $2.745 billion in year 2008. You need a Single Account for unlimited access. WTO Trade Facilitation Agreement Facility: PRESHIPMENT INSPECTION IN EFFECT: JSWIFT: JOINT STATEMENT - CBFFAJ AND TRADE BOARD LTD: Termination of Incentive for Registered Taxi Operator Programme: PSI to Accompany the Applications MV: Notice of Extension for Shipment of Vehicles: Trade Board update on clearing permit backlog The analysed country is : Jamaica. Jamaica Economic Growth The economy will suffer a steep contraction this year due to Covid-19, but is set to rebound next year as both domestic and foreign demand strengthen. You only have access to basic statistics. This statistic is not included in your account. 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