Bank of Jamaica. Economic Statistics. October 2008

Provisional data indicate that the current account deficit widened by US$167.9 million in May 2008, relative to the deficit in May 2007 (see Table). This deterioration was largely associated with increased spending of US$179.0 million (130.8 per cent), US$31.3 million (66.8 per cent) and US$21.2 million (32.1 per cent) in the values of fuel, miscellaneous manufactured goods and chemicals imports, respectively. The higher spending on fuel-related imports was partly associated with significant increases in the price of oil on the international market.