KINGSTON, Jamaica – Jamaica received US$115 billion in export earnings over a nine-month period last year, representing a 26.3 percent increase over the US$910.7 million recorded for the corresponding period in 2020.
Director General of the Statistical Institute of Jamaica (STATIN), Carol Coy. (JIS photo)Director General of the Statistical Institute of Jamaica (STATIN), Carol Coy, said the increase during the period January to September, was mainly driven by higher exports of ‘minerals fuels’, which climbed by 96.8 percent.
Coy told reporters that earnings from domestic exports increased by 18.4 percent to US$1.03 billion and accounted for 89.6 percent of total outflows.
“Exports from the manufacture industry increased by 32.1 percent due mainly to higher [outflows] of ‘Refined Petroleum Products’ and ‘Food, Beverages and Tobacco”, she said, adding that earnings from ‘Mining and Quarrying’ were 6.2 percent above the corresponding nine-month period in 2020, due to higher exports of alumina.
Additionally, she said agricultural exports rose by 7.5 percent, largely resulting from higher outflows of coffee and yams.
Coy said that Jamaica’s imports expenditure between January and September 2021 climbed to US$4.25 billion and that represents a 23.3 percent increase over the US$3.4 billion spent for the corresponding period the previous year.
The Director General said this was largely attributable to higher imports of ‘Consumer Goods’, totaling 9.5 percent; ‘Raw Materials/Intermediate Goods’, up 22.2 percent; and ‘Fuels and Lubricants’, up 62.2 percent.
“It should be noted that spending on exports has not yet returned to the pre-coronavirus (COVID-19) pandemic levels. In the corresponding 2019 period, imports were valued at US$4.85 billion,” Coy said.
STATIN is also reporting that three industries accounted for the largest increase in employment of 68.7 percent, in October 2021 with Coy noting that Real Estate and Other Business Services recorded the largest increase in employment, moving up 23.1 percent to 130,500.
Next was Arts, Entertainment, Recreation and Other Services, which increased by 15.3 percent to 111,500 persons, and Construction, up 13.2 percent, to 113,900.
The Director General pointed out, however, that Real Estate and Other Services, Construction, and Agriculture, Forestry and Fishing were the only industry groups surpassing their pre-coronavirus (COVID-19) employment levels recorded in October 2019.
She told reporters there were 35,400 more people working in Real estate and Other Services, 9,300 more individuals in Construction, while Agriculture, Forestry and Fishing accounted for 4,800 additional workers.
“Employment in the Arts, Entertainment, Recreation and Other Services and Accommodation and Food Service Activities industries are, however, lower than the pre-COVID levels by 15.8 and 10.6 percent, respectively.”
Coy said the number of people employed in October 2021 rose by 76,600 or 6.6 percent to 1,234,800, up from 1,158,200 for the same period in 2020.
Meanwhile, the country’s unemployment rate fell to a record low of 7.1 percent for October 2021, a 0.1 percentage point lower than the previous 7.2 percent pre-COVID-19 out-turn recorded in October 2019.
Coy, said the October 2021 figure also represents a 3.7 percentage-point decline, relative to the corresponding period last year and that there were 32.4 percent less unemployed persons for the review period, relative to October 2020.
“The unemployment rate for males was 5.5 percent and nine percent for females. The number of unemployed males and females declined by 36.2 percent and 29.4 percent, respectively,” she added.
The Director General further informed that youth unemployment fell by 9.3 percentage points to 18.9 percent during the review period, with the number dipping by 17,600 persons to 37,400.
