Hylton Concerned About Jamaica’s ‘Unsustainable’ Trade Deficit

Opposition Spokesperson on Investment, Anthony Hylton, is raising the alarm over Jamaica’s worsening trade deficit, describing the situation as unsustainable.

In a statement on Tuesday, Hylton says it’s a reflection of the Holness administration’s failure to implement a clear and effective trade strategy.

Hylton’s comments follow the release of the latest trade figures for January 2025, which show that imports continue to outpace exports by a ratio of five to one, despite both sides of the trade ledger recording year-on-year declines.

According to data from the Statistical Institute of Jamaica, STATIN, Jamaica spent approximately US$648 million on imports in January 2025, a 6.1 per cent decrease compared to January 2024.

Exports, however, fared worse. The country earned just US$134 million in export revenue for the month. That’s a 15 per cent decline.

Hylton says these figures are deeply troubling, especially given the current volatility in global trade. He warned that the deteriorating trade position would place additional strain on the foreign exchange market.

Reaffirming the People’s National Party’s commitment to tackling the trade imbalance, Hylton outlined a multi-pronged strategy.

This includes reducing energy costs, boosting productivity and improving logistics and supply chain resilience by sourcing new markets and developing alternative trade routes.