Trade Trend

In 2023, Barbados's total export value is 442.21Million USD, total import value is 2.05Billion USD, Deficit is -1.61Billion USD, and foreign trade dependency is 0.390. In 2023，Barbados's top export products are Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(131.61Million USD), Ethyl alcohol, undenatured; of an alcoholic strength by volume of less than 80% volume; spirits, liqueurs and other spirituous beverages(59.23Million USD), Medicaments; (not goods of heading no. 3002, 3005 or 3006) consisting of mixed or unmixed products for therapeutic or prophylactic use, put up in measured doses (incl. those in the form of transdermal admin. systems) or packed for retail sale(26.99Million USD), top export destinations are None(131.61Million USD), United States(73.05Million USD), Trinidad and Tobago(34.07Million USD). In 2023, Barbados's top import products are Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(459.45Million USD), Motor cars and other motor vehicles; principally designed for the transport of persons (other than those of heading no. 8702), including station wagons and racing cars(81.42Million USD), Medicaments; (not goods of heading no. 3002, 3005 or 3006) consisting of mixed or unmixed products for therapeutic or prophylactic use, put up in measured doses (incl. those in the form of transdermal admin. systems) or packed for retail sale(39.26Million USD), top import origins are United States(758.20Million USD), Trinidad and Tobago(422.34Million USD), Netherlands(128.60Million USD).

Comparing to 2022, Barbados's total export value decreased -55.43Million USD(-11.14%) in 2023, this could result from its export decreases of products such as Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(-44.04Million USD or -25.07%), Portland cement, aluminous cement (ciment fondu), slag cement, supersulphate cement and similar hydraulic cements, whether or not coloured or in the form of clinkers(-10.69Million USD or -88.37%), Petroleum oils and oils obtained from bituminous minerals; crude(-5.66Million USD or -42.38%) and export decreases to countries/economics such as None(-44.04Million USD or -25.07%), United States(-8.79Million USD or -10.74%), Jamaica(-5.75Million USD or -15.89%). Comparing to 2022, Barbados's total import value decreased -93.31Million USD(-4.35%) in 2023, this could result from its import decreases of products such as Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(-75.90Million USD or -14.18%), Tubes, pipes and hoses and fittings thereof (for example, joints, elbows, flanges), of plastics(-8.31Million USD or -50.30%), Wood (including strips, friezes for parquet flooring, not assembled), continuously shaped (tongued, grooved, vjointed, beaded or the like) along any edges, ends or faces, whether or not planed, sanded or endjointed(-6.55Million USD or -63.23%), and its import decreases from countries/economies such as United States Virgin Islands(-59.75Million USD or -85.96%), Bahamas(-33.51Million USD or -99.28%), United States(-17.63Million USD or -2.27%).

Cumulated to first 7 months of 2024, Barbados's total export value is 67.03Million USD, total import value is 838.02Million USD, and tradedeficit is -770.99Million USD. Cumulated to first 7 months of 2024, Barbados's top export products are Ethyl alcohol, undenatured; of an alcoholic strength by volume of less than 80% volume; spirits, liqueurs and other spirituous beverages(23.69Million USD), Orthopaedic appliances; including crutches, surgical belts and trusses; splints and other fracture appliances; artificial parts of the body; hearing aids and other which are worn, carried or implanted in the body to compensate for a defect or disability(6.87Million USD), Ethyl alcohol, undenatured; of an alcoholic strength by volume of 80% vol. or higher; ethyl alcohol and other spirits, denatured, of any strength(3.18Million USD), and top export destinations are United States(19.02Million USD), Trinidad and Tobago(11.56Million USD), Canada(6.65Million USD). Cumulated to first 7 months of 2024, Barbados's top import products are Ethyl alcohol, undenatured; of an alcoholic strength by volume of less than 80% volume; spirits, liqueurs and other spirituous beverages(23.69Million USD), Orthopaedic appliances; including crutches, surgical belts and trusses; splints and other fracture appliances; artificial parts of the body; hearing aids and other which are worn, carried or implanted in the body to compensate for a defect or disability(6.87Million USD), Ethyl alcohol, undenatured; of an alcoholic strength by volume of 80% vol. or higher; ethyl alcohol and other spirits, denatured, of any strength(3.18Million USD), and top import origins areUnited States(354.83Million USD), Guyana(86.61Million USD), China(74.09Million USD).