Jamaica Country Commercial Guide
Learn about the market conditions, opportunities, regulations, and business conditions in jamaica, prepared by at U.S. Embassies worldwide by Commerce Department, State Department and other U.S. agencies’ professionals
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Minerals, Lubricants and Related Materials
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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. 

Table: Total Market size for Mineral, Lubricants & Related Materials ($M)
Mineral, Lubricants & Related Materials ($M)202020212022 
Total Exports2664681031
Total Imports93715472380
Imports from the US4407011209
Exchange Rates143.27151.62154.21

(Total market size = (total local production + imports) - exports); *N/A indicates no data are available

Source: Statistical Institute of Jamaica (STATIN)

Leading Sub-Sectors

Best prospects in this category include motor spirits (gasoline), Kerosene type jet fuel, Ultra- low sulfur diesel oil 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 are expected to account for almost 80 percent of the new capacity, with just over 400 MW of renewable energy initially slated to be implemented by 2024.