Jamaica Had the Caribbean & South America's Largest Trade Deficit in 2021

In 2021, Jamaica recorded the largest trade deficit in the Caribbean and South America region, totaling $4.8 billion. This marked a significant widening from the previous year, driven by a surge in imports while exports stagnated.

Key import categories included machinery, vehicles, and fuel. Traditional exports like bauxite and bananas declined. The imbalance reflects structural economic challenges: high dependence on imported goods, vulnerability to global commodity prices, and limited export diversification.