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Precios

2022
Economic Complexity
Trade -0.17Rank 72 of 133
2022
Economic Complexity
Research 0.67Rank 31 of 135
2022
Product
Exports | Imports $1.95B | $7.62B145 of 226 |  131 of 226
2022
Per Capita Product
Exports | Imports $690 | $2.7k201 of 220 |  97 of 220

About

Overview In 2022, Jamaica was the number 125 economy in the world in terms of GDP (current US$), the number 145 in total exports, the number 131 in total imports, the number 103 economy in terms of GDP per capita (current US$) and the number 72 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Jamaica are Refined Petroleum ($734M), Petroleum Gas ($265M), Aluminium Oxide ($246M), Aluminium Ore ($76M), and Hard Liquor ($73.3M), exporting mostly to United States ($1.11B), Russia ($99.7M), Canada ($81M), United Kingdom ($70.8M), and Iceland ($39.5M).

Imports The top imports of Jamaica are Refined Petroleum ($973M), Crude Petroleum ($440M), Petroleum Gas ($385M), Cars ($313M), and Packaged Medicaments ($148M), importing mostly from United States ($2.76B), China ($949M), Trinidad and Tobago ($430M), Brazil ($371M), and Turkey ($327M).

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

Latest Trends

Latest Trade

Flow
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Y-AXIS SCALE

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.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

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.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2022)Refined Petroleum$734M
Top Destination (2022)United States$1.11B

In 2022, Jamaica exported a total of $1.95B, making it the number 145 exporter in the world. During the last five reported years the exports of Jamaica have changed by $418M from $1.53B in 2017 to $1.95B in 2022.

The most recent exports are led by Refined Petroleum ($734M), Petroleum Gas ($265M), Aluminium Oxide ($246M), Aluminium Ore ($76M), and Hard Liquor ($73.3M). The most common destination for the exports of Jamaica are United States ($1.11B), Russia ($99.7M), Canada ($81M), United Kingdom ($70.8M), and Iceland ($39.5M).

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Exportaciones (2022)
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Destinos (2022)
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Market Growth

Flow
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Growth
Fastest Growing Export Markets (2021 - 2022)
United States$375M (+ 50.8%)
Russia$54.3M (+ 119%)
Latvia$33.2M (+ 90.7k%)
Fastest Growing Import Markets (2021 - 2022)
United States$692M (+ 33.4%)
Trinidad and Tobago$228M (+ 113%)
China$221M (+ 30.4%)

Crecimiento de exportaciones según mercado (2021 - 2022)

Potential Exports

Potential Exports

Type
Flow
Depth
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Service Trade

Service Trade

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).

Exportación de Servicios (2018)

Importación de Servicios (2018)

Economic Complexity

Overview

Complejidad Económica (Comercio)-0,17Ranking 72 de 133
Complejidad Económica (Investigación)0.67Ranking 31 de 135

Most Specialized Products by RCA Index

Jamaica has a high level of specialization in Vermouth (535), Aluminium Oxide (152), Aluminium Ore (127), Limestone (41.3), and Other Processed Fruits and Nuts (35). Specialization is measured using RCA, an index that takes the ratio between Jamaica observed and expected exports in each product.

Export Opportunities by Relatedness

The top export opportunities for Jamaica according to the relatedness index, were Gold (0.15), Cocoa Beans (0.14), Cement (0.14), Other Oily Seeds (0.14), and Fish Fillets (0.14). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Jamaica is not specialized in.

Product Space

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

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.

Espacio de la Afinidad (2022

Diversification Frontier

Filter
Depth

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.

Frontera de la Diversificación

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Jamaica's⁩ ⁨economy has become relatively more complex, moving from the ⁩⁨78th to the 72nd⁩ 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.

Explore Rankings

Clasificación de ECI (Trade) por País

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