Business environment
The government is implementing a US$160 million Public Sector Modernisation Programme to speed up trade, resulting in the turnaround time for opening a business being reduced to 3 days. Recent tax measures and the establishment of Special Economic Zones are incentives to stimulate business and economic activity. Ease of trading has improved with the Trade Information Portal and the Electronic Single Window for Trade.
Robust trade and investment infrastructure
Jamaica boasts an impressive telecommunications system, road network, and air and sea connectivity. Jamaica is also home to the Kingston Harbour, the 7th largest natural harbour in the world. Goods and services can thus easily be transported throughout the island to consumers at minimal cost.
Facilitating government policy
Jamaica has a robust and stable democratic system. The Jamaican government encourages the participation of international business, paving the way for UK exporters. The Jamaican economy has also been bolstered since the government has exceeded all the structural benchmarks prescribed by the International Monetary Fund’s (IMF) 3 year programme.
Top five UK goods exported to Jamaica , in the four quarters to the end of Q2 2024
| Goods | Value (£ million ) |
|---|---|
| Cars | |
| Other miscellaneous manufactures (intermediate) | |
| Other manufactures (intermediate) | |
| Specialised machinery (capital) | |
| Other manufactures (consumer) |
Source:
ONS Trade in goods: country-by-commodity exports
Last updated: October 2024
Download the latest trade and investment factsheet for Jamaica.
Total import value (into the UK from Jamaica) and export value (from the UK into Jamaica) over time
| Year | Imports (£ million ) | Exports (£ million ) | Total trade (£ million ) |
|---|---|---|---|
| 2016 | 430.0 | 111.0 | 541.0 |
| 2017 | 306.0 | 118.0 | 424.0 |
| 2018 | 421.0 | 117.0 | 538.0 |
| 2019 | 427.0 | 92.0 | 519.0 |
| 2020 | 278.0 | 71.0 | 349.0 |
| 2021 | 201.0 | 88.0 | 289.0 |
| 2022 | 354.0 | 102.0 | 456.0 |
| 2023 | 272.0 | 142.0 | 414.0 |
Source:
ONS UK total trade: all countries, seasonally adjusted
Last updated: October 2024
Total trade is the sum of all exports and imports over the same time period.
Download the latest trade and investment factsheet for Jamaica.
Jamaica: at a glance
Economic growth
2.6%
Actual figure (IMF, 2023)
The UK is 0.1% (IMF, 2023, projected figure)
GDP per capita
$5,782
Actual figure (IMF, 2019)
The UK is $42,713 (IMF, 2019, actual figure)
Currency
Jamaican dollar
Business languages
English
Time zone
GMT - 5
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Opportunities for exporters
Jamaica offers opportunities for UK firms in various sectors, propelled by government and the private sector. Sectors include energy (especially renewable), education, logistics, healthcare and medical tourism, management consulting services, infrastructure, creative, agri-business and Information and communications technology (ICT).
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The Ministry of Health and Wellness (MoHW) is working to improve the quality of the healthcare system. Major initiatives include digitizing medical records, reducing waiting time and overcrowding and improving infrastructure of medical facilities. The government allocated over USD$27 million to the MoHW for capital expenditure projects in the 2019 to 2020 financial year.
Steady demand for pharmaceuticals
Jamaica imported US$2.8 million in pharmaceuticals from the UK in 2017, with UK brands such as GlaxoSmithKline and AstraZeneca continuing to thrive. In 2017, there were over 495 pharmacies and over 2.7 million items were prescribed from pharmacies at public health facilities. There is increased access to drugs to address cardiovascular and respiratory system health, non-communicable diseases and other conditions.
Increased demand for healthcare technology innovation
In an effort to overcome challenges within the healthcare sector, the government is investing in innovative healthcare solutions making greater use of technology. This thrust has generated interest among various private sector stakeholders, leading to the proposal of telemedicine solutions for both the public healthcare system and private providers.
Significant attention to improving infrastructure
The MoHW is actively pursuing projects geared towards strengthening primary care facilities. This includes the modernisation of care centres and support services through the upgrading of existing facilities and establishing new sites.
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The technology sector offers opportunities as there is demand for remote working technology.
Opportunities for exporters
The government is paying special attention to the modernisation and digital transformation of government business. This increased interest in technology driven solutions creates numerous opportunities for UK technology firms. The tabling of the Data Protection Policy Bill and development of a National Cyber crime policy highlights the growth of Jamaica’s cyber platform.
Demand for remote working technology
In light of COVID-19 and associated restrictions on movement, there is a noted increase in demand for technology and tech enabled solutions to ensuring the productivity of staff working remotely. Increased use of this technology and a rise in cyber-attacks have also created increased demand for cyber security solutions.
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The Jamaican government has committed to reduce dependence on fossil fuels and diversify its energy mix, including through an increase in renewables. The commitment to pursue Jamaica’s climate change targets will also support growth in the renewables sector. A supporting factor is the positive steps being taken towards effective waste management nationally, including through encouraging public private partnerships and private investment into the sector.
Ambitious renewable energy targets and greater focus on clean growth
Jamaica’s energy policy envisages that 30% of its energy will be from renewables by 2030, including by attracting US$7.3 billion of investment in the electricity sector by 2037. By 2025, the country should have output of 320 megawatts (MW) of solar and/or wind, 120 MW of liquefied natural gas (LNG) and 74 MW of hydro, waste to energy and/or biomass, and is open for investment in the sector.
Abundant renewable energy sources
The diversity of renewable resources gives the country the potential and opportunity for the development of renewable energy. These resources include wind, biomass, mini-hydro, photovoltaic and solar energy. In addition, the potential for the conversion of waste to energy, ocean thermal technologies and bio-fuels is being explored. UK firms continue to explore the renewable energy market including through projects in solar and waste to energy, among others.
Check for trade barriers
Trade barriers, such as tariffs or taxes, can raise costs, cause delays, or even stop you from exporting. Check for any issues that may impact your business when exporting.
Check duties and customs
Find information on how to export goods from the UK. View the duties, rules, restrictions, and the documents you need for your products.
Doing business in Jamaica
Preparing to export
The government’s commitment to stimulate economic growth is evident in their tax regime, including increase in the general tax threshold and the abolition of the minimum business tax aimed to incentivise. Jamaica also does not impose taxes on capital, and has signed a Double Taxation Treaty with the UK.
General Consumption Tax (GCT)
GCT is a Value Added Tax added to the price of most goods and services in Jamaica. GCT is 16.5% unless otherwise indicated. Any business or individual engaged in the production of goods or services is required to register under the General Commercial Tax Act.
Import duties
Jamaica has a complex system of regulation for imports. Import / customs duty, stamp duty, General Consumption Tax (GCT), Special Consumption Tax (SCT), environment levy, and other fees are applied to imports. You should seek the expert advice of a legal professional or import agency before exporting to Jamaica
Jamaica Trade Information Portal
The Jamaica Trade Information Portal (JTIP) is the one-stop point for all information relating to imports and exports from Jamaica. Traders are able to access the regulatory requirements to carry out their transactions.
Jamaica Single Window for Trade
The Jamaica Single Window for Trade is an electronic platform, which allow traders to submit transactional information through a single access point. Traders will electronically submit applications for Licences, Permits, Certificates and other regulatory requirements (LPCO), to facilitate processing by requisite Cross Border Regulatory Agencies (CBRAs) and Participating Government Agencies.
Investment Map
The Investment Map also allows investors to navigate Jamaica’s landscape accurately and discover geophysical features and places of interest, such as waterways/sources, land development suitability, services, and amenities.
Trade barriers
Check for any reported barriers to trading with Jamaica.
Report any trade barriers that are affecting your business so we can help fix them.
Operating in Jamaica
Opening a Business
The Companies Office of Jamaica (CoJ) is responsible for the registration and regulation of businesses. A first step to opening in a business is to decide on the legal structure of the firm. Once this is established, the firm is then assisted to complete the appropriate forms and is asked to submit certified copies of the appropriate documents. Much of this process can be facilitated online
Additional information and guidance specific to overseas firms seeking to open a business in Jamaica can be found on the Companies Office of Jamaica website.
Intellectual property
Intellectual property (IP) rights are territorial. Rights granted in the UK do not provide protection elsewhere. You should consider getting IP protection abroad if you want to trade overseas or sell to overseas customers via the internet.
The Intellectual Property Office’s International IP Service provides practical information to help you protect, manage and enforce your IP abroad. Further support can be accessed through the service’s network of IP attachés. Based in key UK export markets, they provide guidance to British businesses on local IP matters.
Next steps
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