Jamaica - Country Commercial Guide
Minerals, Lubricants and Related Materials

This is a best prospect industry sector for this country.  Includes a market overview and trade data.

Last published date: 2022-07-13

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.