Jamaica2019 Economic Complexity : -0.25, Rank 83 of 146
2019 Product Exports | Imports: $1.85B | $5.91B, 140 of 225 | 128 of 225
2019 Per Capita Product Exports | Imports: $628 | $2.01k, N/A of N/A | N/A of N/A
2018 Service Exports | Imports : $3.83B | $2.51B, 78 of 125 | 86 of 125
Overview In 2019 Jamaica was the number 119 economy in the world in terms of GDP (current US$), the number 140 in total exports, the number 128 in total imports, the number N/A 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.
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).
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).
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).
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:
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.
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.
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 a country currently specializes in.
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.
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.