Jamaica's trade gap widens

Livern Barrett, Gleaner Writer



The Jamaica Exporters Association (JEA) says despite increased exports last year the trade deficit between Jamaica and the rest of the world widened by 30 per cent.



JEA President Vitus Evans says figures provided by the Statistical Institute of Jamaica show that total exports for the first nine months last year were valued at US$1.2 billion, a 26 per cent increase when compared to the corresponding period in 2010.



Evans says the statistics also show that non-traditional exports have increased by just under 14 percent.



However, Evans says imports for the same nine month period last year was valued at US$4.8 billion, a 29 per cent increase over the corresponding period in 2010.



As part of the plan to address some of the challenges facing the sector, he says the long proposed trade point system aimed at speeding up the export process has to be implemented swiftly.



livern.barrett@gleanerjm.com