Alumina serves as a backbone to Jamaica’s revenue earnings from exports, with 26% rise in nine months of 2024
Jamaica’s alumina export value increased by 25.9 per cent, totalling US$447.3 million during the first nine months of 2024. This growth has contributed to a 17 per cent rise in Jamaica’s overall export revenue from the mining and quarrying sector to US$500.7 million.
In the first quarter of 2024, Jamaica’s alumina export value was US$132.2 million versus US$89.2 million during the corresponding period of the previous year. In the next quarter, Jamaica’s earnings from alumina exports grew further, contributing to a 27 per cent boost in mineral export revenues.
But despite the steady rise in Jamaica’s alumina export value, the Caribbean country’s domestic export value through the first nine months of 2024 fell 10.8 per cent to US$1,360.5 million, caused by a sharp contraction in re-exports by 57.8 per cent to US$150.9 million. Agriculture sector was the weakest area among all the key domestic industries in Jamaica, with exports down by 15.6 per cent to US$58.3 million, caused by reduced shipments of staple products like coffee and herbs & spices, which decreased significantly by 32.1 per cent to US$13.3 million and by 20.8 per cent to US$4.2 million.
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During the Chinese New Year, alumina transactions were sluggish, and prices are expected to continue their downward trend
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