Jamaica2021 Economic Complexity Trade : -0.23, Rank 75 of 131
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2021 Economic Complexity Research : 1.05, Rank 24 of 140
2021 Product Exports | Imports: $1.55B | $5.9B, 153 of 226 | 133 of 226
2021 Per Capita Product Exports | Imports: $523 | $1.98k, 143 of 219 | 122 of 219
Overview In 2021, Jamaica was the number 131 economy in the world in terms of GDP (current US$), the number 153 in total exports, the number 133 in total imports, the number 106 economy in terms of GDP per capita (current US$) and the number 75 most complex economy according to the Economic Complexity Index (ECI) .
Exports The top exports of Jamaica are Aluminium Oxide ($460M), Refined Petroleum ($384M), Hard Liquor ($74.2M), Aluminium Ore ($73.7M), and Other Processed Fruits and Nuts ($63.1M), exporting mostly to United States ($712M), Netherlands ($135M), Canada ($93.2M), United Kingdom ($63.3M), and Russia ($45.4M).
Imports The top imports of Jamaica are Refined Petroleum ($530M), Petroleum Gas ($410M), Cars ($261M), Crude Petroleum ($203M), and Raw Iron Bars ($140M), importing mostly from United States ($2.06B), China ($749M), Turkey ($306M), Trinidad and Tobago ($202M), and Japan ($191M).
Location Jamaica borders Colombia, Cuba, Haiti, and Cayman Islands by sea.
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.
The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Top Export (2021): Aluminium Oxide, $460M
Top Destination (2021): United States, $712M
In 2021, Jamaica exported a total of $1.55B, making it the number 153 exporter in the world. During the last five reported years the exports of Jamaica have changed by $197M from $1.36B in 2016 to $1.55B in 2021.
The most recent exports are led by Aluminium Oxide ($460M), Refined Petroleum ($384M), Hard Liquor ($74.2M), Aluminium Ore ($73.7M), and Other Processed Fruits and Nuts ($63.1M). The most common destination for the exports of Jamaica are United States ($712M), Netherlands ($135M), Canada ($93.2M), United Kingdom ($63.3M), and Russia ($45.4M).
Fastest Growing Export Markets (2020 - 2021)
Fastest Growing Import Markets (2020 - 2021)
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).
Jamaica has a high level of specialization in Vermouth (505), Aluminium Oxide (412), Aluminium Ore (173), Other Processed Fruits and Nuts (42.7), and Other Fermented Beverages (42.2). 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 Sound or video recording apparatus; parts and accessories suitable for use solely or principally with the apparatus of heading 8519 or 8521 (0.96), Plates, sheets, strip, rods and profile shapes, of vulcanised rubber other than hard rubber (0.89), Time switches; with clock, watch movement or synchronous motor (0.77), Glass; articles n.e.c. in chapter 70 (0.63), and Works trucks, self-propelled, (not fitted with lifting or handling equipment), for factories, warehouses etc, for short distance transport of goods, tractors used on railway station platforms; parts thereof (0.6). 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, were Gold (0.17), Non-fillet Frozen Fish (0.16), Cocoa Beans (0.16), Bananas (0.16), and Legumes (0.16). 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 70th to the 75th 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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