Overview In 2020, Jamaica was the number 128 economy in the world in terms of GDP (current US$), the number 147 in total exports, the number 132 in total imports, the number 104 economy in terms of GDP per capita (current US$) and the number 76 most complex economy according to the Economic Complexity Index (ECI).

Exports The top exports of Jamaica are Aluminium Oxide ($496M), Refined Petroleum ($210M), Aluminium Ore ($87.8M), Hard Liquor ($80.6M), and Other Processed Fruits and Nuts ($58.3M), exporting mostly to United States ($547M), Canada ($110M), Netherlands ($91.7M), Iceland ($86.7M), and Russia ($68.8M).

Imports The top imports of Jamaica are Refined Petroleum ($366M), Crude Petroleum ($273M), Cars ($241M), Petroleum Gas ($214M), and Railway Cargo Containers ($141M), importing mostly from United States ($1.75B), China ($571M), Brazil ($225M), Guyana ($180M), and Japan ($176M).

Location Jamaica borders Colombia, Cuba, Haiti, and Cayman Islands by sea.

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The following section uses the most recent trade data from partners of Jamaica.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Data is presented based on data availability. Only countries using the Harmonic System (HS) are selected. Every source is shown using their own latest twelve months of data.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

Historical Data

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Top Export (2020): Aluminium Oxide, $496M

Top Destination (2020): United States, $1.75B

In 2020, Jamaica exported a total of $1.31B, making it the number 147 exporter in the world. During the last five reported years the exports of Jamaica have changed by -$103M from $1.42B in 2015 to $1.31B in 2020.

The most recent exports are led by Aluminium Oxide ($496M), Refined Petroleum ($210M), Aluminium Ore ($87.8M), Hard Liquor ($80.6M), and Other Processed Fruits and Nuts ($58.3M). The most common destination for the exports of Jamaica are United States ($547M), Canada ($110M), Netherlands ($91.7M), Iceland ($86.7M), and Russia ($68.8M).

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Fastest Growing Export Markets (2019 - 2020)

Fastest Growing Import Markets (2019 - 2020)

Jamaica Exports Services (2018): $3.83B

Jamaica Imports Services (2018): $2.51B

In 2018, Jamaica exported $3.83B worth of services. The top services exported by Jamaica in 2018 were Personal travel ($3.1B), Transportation ($224M), Other business services ($223M), Computer and information services ($128M), and Personal, cultural, and recreational services ($105M).

The top services imported by Jamaica in 2018 were Transportation ($905M), Other business services ($809M), Personal travel ($242M), Insurance services ($138M), and Construction services ($101M).

Economic Complexity

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Most Specialized Products by RCA Index

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Jamaica has a high level of specialization in Aluminium Oxide (484), Vermouth (438), Aluminium Ore (204), Limestone (53), and Other Processed Fruits and Nuts (42.1). Specialization is measured using RCA, an index that takes the ratio between Jamaica observed and expected exports in each product.

Export Opportunities by Relatedness

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The top export opportunities for Jamaica according to the relatedness index, are Bananas (0.14), Gold (0.14), Tropical Fruits (0.14), Molasses (0.13), and Non-fillet Frozen Fish (0.13). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Jamaica is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

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This network shows the products most related to the production structure of Jamaica. These are products that tend to be co-exported with the products that Jamaica exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Economic Complexity Ranking

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During the last 20 years Jamaica's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨71st to the 76th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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