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Jamaica’s trade deficit widens

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  • #1

    Jamaica’s trade deficit widens

    Tuesday, 27 November 2007

    Between January and July, Jamaica's trade deficit grew by US$66 million when compared to the corresponding period last year.

    The gap between imports and exports was US$2.1 billion.

    During the seven months, Jamaicans spent US$3.5 billion on imports while exports earned just under US$1.4 billion.

    The minerals and fuels group saw the increase.
    "Jamaica's future reflects its past, having attained only one per cent annual growth over 30 years whilst neighbours have grown at five per cent." (Article)
    Tags: None
  • #2
    I don't understand.. I thought the PNP were 'managing' the situation ?

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    • #3
      Originally posted by Lazie View Post
      Tuesday, 27 November 2007

      Between January and July, Jamaica's trade deficit grew by US$66 million when compared to the corresponding period last year.

      The gap between imports and exports was US$2.1 billion.

      During the seven months, Jamaicans spent US$3.5 billion on imports while exports earned just under US$1.4 billion.

      The minerals and fuels group saw the increase.
      Does this mean -

      ...and, that shall continue to happen for the next several years...until we hope the private sector comes up to speed...

      ...and, that means 'things' shall always get worse...as more and more join the labour force and aspire to use and own the 'goodies' e.g. cars, toys, (consumer goods) ...and, other necessary 'goodies' e.g. oil, raw materials, essential food staples, etc., only available through importation?!
      "Never doubt that a small group of thoughtful, committed citizens can change the world. Indeed, it is the only thing that ever has."

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      • #4
        Originally posted by Maudib View Post
        I don't understand.. I thought the PNP were 'managing' the situation ?
        True ... I notice that Peejay missing since such a bold statement.
        "Jamaica's future reflects its past, having attained only one per cent annual growth over 30 years whilst neighbours have grown at five per cent." (Article)

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        • #5
          Too bad the PNP is not in power to 'manage it'

          Comment

          • #6
            Originally posted by Lazie View Post
            Tuesday, 27 November 2007

            Between January and July, Jamaica's trade deficit grew by US$66 million when compared to the corresponding period last year.

            The gap between imports and exports was US$2.1 billion.

            During the seven months, Jamaicans spent US$3.5 billion on imports while exports earned just under US$1.4 billion.

            The minerals and fuels group saw the increase.
            OK so oil went up thus an increase so what's the news ? you could substitute any country's name with the exception of China and the numbers look the same so what's the point here ?

            Comment

            • #7
              The question is why is it news since Sept 3rd..?

              Portia seh is JLP fault.

              Comment

              • #8
                How do we close the trade deficit gap without PLANNING?

                What is our strengths and what are our weaknesses when it comes to the global marketplace? How do then exploit our strengths if we don't know them?

                It all comes down to proper PLANNING.

                If you don't know where you are going then how are you going to get there?

                respect

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