This is a best prospect industry sector for this country. Includes a market overview and trade data.
Overview
There was a significant jump in the amount of Minerals, Lubricants and Related Materials (LMRM) sourced from the U.S. in 2021. This was a recovery from the pandemic slump, associated with the COVID-19 restrictions, and was a return to the growth trajectory observed since 2016.
(total market size = (total local production + imports) - exports); *N/A indicates no data are available
Source: STATIN
| Mineral, Lubricants & Related Materials ($M) | 2019 | 2020 | 2021 | 2022 Est |
|---|---|---|---|---|
| Total Local Production | N/A | N/A | N/A | N/A |
| Total Exports | 300 | 266 | 468 | N/A |
| Total Imports | 1667 | 937 | 1547 | N/A |
| Imports from the US | 1049 | 440 | 440 | N/A |
| Total Market Size | N/A | N/A | N/A | N/A |
| Exchange Rates | 134.22 | 143.27 | 151.62 | N/A |
Leading Sub-Sectors
Best prospects in this category include lubricating oils, motor spirits (gasoline), and other liquid petroleum products.
Opportunities
In early 2020, Jamaica released its Integrated Resource Plan (IRP) outlining an electricity roadmap for the next two decades. The IRP projects 1,664 MW of new capacity at a cost of $7.3 billion, including fuel cost and the replacement of retired generation, over the twenty-year planning horizon. Renewable energy sources is expected to account for almost 80 percent of the new capacity, with just over 400 MW of renewable energy initially slated to be implemented during the next four years, starting with 147 MW of wind and solar in 2022. This timetable has been delayed by the onset of the COVID-19 pandemic and the plan is being updated.