Trade Deficit Unsustainable – Hylton Warns
Kingston, Jamaica. May 26, 2025: The Opposition Spokesperson on Investment, Trade & Global Logistics, Anthony Hylton, is raising the alarm about Jamaica’s worsening trade deficit, describing it as “unsustainable” in light of the latest trade figures for January 2025. The data shows that imports continue to outpace exports by a ratio of five to one, highlighting what Mr. Hylton says is the Holness administration’s failure to put forward a clear and effective trade strategy.
“These figures are deeply troubling, especially given the current volatility in global trade,” Hylton stated. “There is no coherent policy from this Government to address the widening trade gap.”
He warned that the growing deficit must also be viewed alongside external threats to Jamaica’s key foreign exchange earners tourism, bauxite/alumina, and remittances. “The latest data does nothing to relieve pressure on the exchange rate. It will only make the Bank of Jamaica’s task of stabilising the foreign exchange market more difficult,” he said.
Mr. Hylton reaffirmed the People’s National Party’s commitment to a comprehensive policy approach that includes:
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Reducing energy costs,
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Increasing agricultural and industrial productivity through the use of science, technology, and innovation,
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Improving logistics and supply chain resilience by sourcing new markets and developing alternative trade routes.
He concluded that the Government has shown an inability to address the country’s structural trade imbalance. “Only a PNP administration has the vision and policy framework to reduce, and eventually eliminate, the trade deficit, if given the opportunity to implement its growth strategy,” Hylton said.
