Overview In 2019 Jamaica was the number 119 economy in the world in terms of GDP (current US$), the number 140 in total exports, the number 128 in total imports, the number 101 economy in terms of GDP per capita (current US$) and the number 83 most complex economy according to the Economic Complexity Index (ECI).

Exports The top exports of Jamaica are Aluminium Oxide ($966M), Refined Petroleum ($263M), Aluminium Ore ($89.5M), Hard Liquor ($86.7M), and Other Processed Fruits and Nuts ($49.4M), exporting mostly to United States ($594M), Netherlands ($201M), Germany ($173M), Canada ($134M), and Iceland ($120M).

Imports The top imports of Jamaica are Refined Petroleum ($836M), Cars ($332M), Crude Petroleum ($238M), Petroleum Gas ($195M), and Packaged Medicaments ($103M), importing mostly from United States ($2.56B), China ($630M), Japan ($260M), Trinidad and Tobago ($166M), and Turkey ($164M).

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

Historical Data

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Yearly Exports

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Top Export (2019): Aluminium Oxide, $966M

Top Destination (2019): United States, $594M

In 2019, Jamaica exported a total of $1.85B, making it the number 140 exporter in the world. During the last five reported years the exports of Jamaica have changed by $245M from $1.61B in 2014 to $1.85B in 2019.

The most recent exports are led by Aluminium Oxide ($966M), Refined Petroleum ($263M), Aluminium Ore ($89.5M), Hard Liquor ($86.7M), and Other Processed Fruits and Nuts ($49.4M). The most common destination for the exports of Jamaica are United States ($594M), Netherlands ($201M), Germany ($173M), Canada ($134M), and Iceland ($120M).

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Yearly Imports

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Top Import (2019): Refined Petroleum, $836M

Top Origin (2019): United States, $2.56B

In 2019 Jamaica imported $5.91B, making it the number 128 trade destination in the world. During the last five reported years the imports of Jamaica changed by $119M from $5.79B in 2014 to $5.91B in 2019.

The most recent imports of Jamaica are led by Refined Petroleum ($836M), Cars ($332M), Crude Petroleum ($238M), Petroleum Gas ($195M), and Packaged Medicaments ($103M). The most common import partners for Jamaica are United States ($2.56B), China ($630M), Japan ($260M), Trinidad and Tobago ($166M), and Turkey ($164M).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

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).

Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Jamaica are Cabbage lettuce (head lettuce) fresh or chilled (100%) and Lettuce, fresh or chilled except cabbage lettuce (100%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

*The tariffs applied to imports for Jamaica are:
136: Most Favoured Nation duty rate treatement

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 (544), Vermouth (324), Aluminium Ore (154), Limestone (38.6), and Cassava (29.1). Specialization is measured using RCA, an index that takes the ratio between Jamaica observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Jamaica according to the product complexity index (PCI) are Articles of glass, nes (1.08), Equipment for soldering, brazing or welding (0.81), Watches with case of, or clad with, precious metal (0.49), Refractory brick, block, tile etc not siliceous-earths (0.48), and Paints and varnishes nes, water pigments for leather (0.41). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Jamaica according to the relatedness index, are Gold (0.15), Tropical Fruits (0.15), Other Oily Seeds (0.14), Non-fillet Frozen Fish (0.14), and Non-fillet Fresh 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 it is currently specialized 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 and the strategic value of a country's potential export oppotunities. Relatedness is a 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 emissions.

Economic Complexity Ranking

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During the last 20 years Jamaica's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨79th to the 83rd⁩ 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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