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 decline in Minerals, Lubricants and Related Materials (LMRM) sourced from the United States since 2022. The reduction was underpinned by the falloff in fuels and lubricants and raw materials/intermediate goods, with lower imports of crude oil and construction materials being key factors. The recent reduction was driven by lower international commodity prices, stagnant economic activity, and the impact of natural events like Hurricane Beryl. 

Tble: Total Market size for Mineral, Lubricants & Related Materials ($M)

Mineral, Lubricants & Related Materials ($M)

202220232024
Total Exports1031867493
Total Imports238020401893
Imports from the US120911181005
Trade Surplus/Deficit(1349)(1173)(1400)
Exchange Rates154.21154.99157.22

(Total market size = (total local production + imports) - exports); *N/A indicates no data is 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 late 2024, Jamaica released its updated Integrated Resource Plan (IRP-2) outlining an electricity roadmap for the next two decades. The plan calls for over 1,500MW of new renewable energy generation capacity between 2025 and 2041, including 741MW of solar and wind to be commissioned between 2025 and 2030. However, tenders for only 100MW of that goal had been issued by the end of 2024.

Jamaica presents strong opportunities in the minerals, lubricants, and related materials sectors. The island remains one of the world’s leading producers of bauxite and alumina, while expanding limestone, gypsum, and aggregate production to meet construction and export demand. This creates openings for the supply of mining equipment, processing technology, environmental solutions, and sustainable mining expertise. Construction, transportation, and logistics are also driving demand for high-performance lubricants, specialty oils, and industrial materials. Suppliers offering durable, eco-friendly lubricants, coatings, additives, and specialty chemicals are well-positioned to exploit market opportunities. 

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