Trade in Goods
Traditionally, Jamaica’s primary area of trade focus has been the trade in goods (merchandise trade), for which merchandise imports and exports account for 11% and 44.4% of GDP, respectively. Prior to the discovery of bauxite/alumina, Jamaica’s economy was based on agricultural products, primarily the production and export of bananas and sugar under preferential arrangements.
Customs Duties:
Jamaica, as a member of CARICOM, applies the Common External Tariff (CET), which ranges from 0 – 5% and 20% on manufactured goods and at a maximum of 40% on agricultural goods.
Jamaica’s main Exports US’000 – 2012
Jamaica’s main Imports US’000 – 2012
Jamaica imports a wide range of food items, manufactured goods (semi processed and finished goods), petroleum and petroleum products, raw materials and capital goods (machinery). Jamaica is also listed as a net importer of food items, and is on the World Trade Organisation’s (WTO’s) list of Net Food Importing Developing Countries.
