Jamaican-Canadian Trade

in economics •  22 days ago 

Canada is a Major Source of Jamaica's Wealth


TradeAgreements_slim.jpg source

Canada is Jamaica's second-largest export destination (after the USA), Jamaica is Canada's 72nd largest export destination. Despite the difference in ranking, the trade between the two nations is nearly balanced with Canada importing about $10,000,000 more than it exports to Jamaica Can.Gov. Tourism and remittances aside, Jamaica imports all sorts of things from Canada with no good dominating that direction of the trade. However, when you look at what Canada is buying from Jamaica, one good, in particular, stands out.

What Does Canada Want From Jamaica?


Many of us think Bananas or perhaps Sugar, Rum, Coffee, or some other agricultural good. Oddly enough, Jamaica buys more food products from Canada than the other way around, about $5 million dollars more. Before you start thinking it's ganja, don't be silly, Canada grows more than enough for its own usage and the trade is just getting started. So what is it that Canada buys from Jamaica?


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source

That's Right! Inorganic Chemicals, Precious Metal Compound, Isotope...

Or, In Layman's Terms: Aluminum

Yes, 77% of what Canada import's from Jamaica is Bauxite Ore


Oddly enough, Canada being the second-largest country in the world has no known Bauxite Ore but tiny Jamaica has the fifth-biggest reserves of it on the planet. Canada does, however, produce a lot of Aluminum because the refining process takes an abundance of cheap electricity which Jamaica lacks.

Canada's Aluminum is the Cleanest in the World

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The abundance of electricity comes from renewable sources or hydroelectric dams in regions of Canada that have a low demand for electricity so they built energy-intensive aluminum refineries to provide jobs. Canada imports Bauxite ore from Jamaica, refines it, then exports 87% of the Aluminum products to the USA.

Aluminum smelter employees at Rio Tinto Alcan make around $100,000 per year which should be more than enough funds to take a nice holiday to Jamaica every year!

Hopefully, trade between Canada and Jamaica continues to flourish and expand; we have the CARIBCAN Free Trade Agreement to thank for this.


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Jamaica has abundances in solar energy. Rocks sure are a heavy thing to move all that way north only to send metal down to the US.

Someone should make a solar energy aluminum refinery in Jamaica. I'm sure the workers will do great work for 100k a year and they can then visit Canada.

It takes 13Mw to make 1 ton of aluminum. Jamaica would need a lot of solar panels 😸

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Hello @crypticat, Coincidentally yesterday I was talking to a friend who lived in Canada for a few years, he is thinking of returning.

He spoke to me about the wonders of that country.

I believe that trade with these powers is good, because the profit that those who sell to them receive is great, it facilitates other exchanges as well.
I didn't know that Jamaica was the 5th country with the most bauxite in the world. That's good. Well managed, it keeps moving forward. I hope that the market between the two countries continues to grow and that it can have an impact on citizens, which is what is important.


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Maybe some of us here at ReggaeSteem will have something to do with increasing global trade and connections.


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You never know @crypticat, it's very likely. Without a doubt it is a platform that crosses barriers and is much more than a social network.

Hopefully it will continue to drive many more things.


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Really enjoyed this article, thank you :)


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Yup I though it would be bauxite. My mom's friend worked at Alcan back in the days and lived back and forth between Jamaica and Canada. They were loaded. Driving near the bauxite mining waste fields really stinks. But hey, its the price Jamaica gotta pay.


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hello cat interesting topic buaxite comes to be like aluminum in natural rock form is found in jamaica that way. She exports it to Canada without processing, and there it is transformed ...


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Who woulda thought


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jeeeee cat I wanted to do that topic but well you beat me ..


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How random. I read that Jamaica buys oil from Venezuela and refines it in Kingston 🛢️🤓

Thank you for supporting @CatsMakeKittens by being a part of our community @crypticat.

Each CATS you purchase gets you daily upvotes from me @CatScientist as our community grows so do your rewards for being a member!

Yup I though it would be bauxite. My mom's friend worked at Alcan back in the days and lived back and forth between Jamaica and Canada. They were loaded. Driving near the bauxite mining waste fields really stinks. But hey, its the price Jamaica gotta pay.


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Getting a job at the Bauxite mine down there must be like wining the lottery.

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