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JAMAICA

The US Commercial Service in the Caribbean has a Partner Post Program Agreement with the US State Department in the US Embassy Jamaica.

Through this program the Economic Political Office in the US Embassy Jamaica is able to provide US exporters with the CS services to promote the export of U.S. goods and services.

For more information please contact us

MARKET OVERVIEW OF JAMAICA

  • Jamaica’s economy has grown less than 1% per year for four decades.  
  • In May 2013, the GOJ entered into a US$932 million 4-year Extended Fund Facility (EFF) with the International Monetary Fund (IMF) to reduce its debt-to-GDP ratio, one of the highest in the world.  
  • Jamaica restructured its domestic debt and undertook an ambitious legislative agenda to enact significant structural reforms.  These included the elimination of sector-specific tax incentives and waivers and improving the business climate.  Through May 2016, Jamaica has successfully passed 12 consecutive quarterly reviews and has improved its rankings in the World Bank’s Doing Business report.
  • …More

MARKET CHALLENGES

  • Crime remains a significant concern and security measures add considerably to the cost of doing business in Jamaica. 
  • Jamaica’s court system lacks resources and suffers from a major backlog of cases.  Businesses seeking legal redress should be cognizant of the high costs of litigation and the slow pace of resolution.  At least one American company has experienced difficulties in collecting on its debt even after a Jamaican court ruled in its favor.  …More

OPPORTUNITIES

  • The quality and reliability of U.S. goods and services has encouraged Jamaican businesses and consumers to purchase from the United States.  Jamaica has excellent air, sea, and underwater communications cable links with the United States and the rest of the world. …More

MARKET ENTRY STRATEGY

  • Agents and distributors are commonly used as the conduit to enter the Jamaican market, but the U.S. Foreign Commercial Service also assists U.S. firms in their search for prospective partners. The U.S. Department of Commerce no longer has a presence in Jamaica but serves the region out of its office in Santo Domingo, Dominican Republic. …More

BEST PROSPECTS


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