Fri | Jun 2, 2023

Six-month export revenues total US$801 million

Published:Thursday | October 20, 2022 | 4:35 PM
Director General, Statistical Institute of Jamaica (STATIN), Carol Coy, speaking during the agency’s digital quarterly media briefing in January 2022. - Contributed photo.

Revenues from total exports amounted to US$801 million during the first half of 2022, between January and June, representing an increase of 2.3 per cent relative to the comparable 2021 period.

Director General, Statistical Institute of Jamaica (STATIN), Carol Coy, gave the figures while providing an update on the International Merchandise Trade for January to June 2022, during the Institute's virtual quarterly briefing, on Tuesday.

She pointed out that domestic exports accounted for 82.3 per cent of total exports and were valued at US$659.6 million, a decline of 3.3 per cent.

“The decline in domestic exports was due to a 65.5 per cent decline in the value of alumina exports,” Coy explained.

She noted that exports from the manufacturing industry increased by 32.2 per cent, due to a 60.4 per cent increase in the export of refined petroleum products.

Meanwhile, she said total spending on imports for the first half of the year amounted to approximately US$3.8 billion.

This figure, she added, represents a 37.4 per cent increase when compared to the corresponding 2021 period.

“This increase was largely attributable to higher imports of fuels and lubricants, raw materials/intermediate goods and consumer goods, which went up by 70.7 per cent; 28.5 per cent, and 33.8 per cent, respectively,” Coy said.

- JIS News

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