Bahamas Import Data

The Bahamas: Import/Export Snapshot & Economic Overview

Imports & Exports

• Top Trade Partners: The Bahamas' principal trading relationships are with the United States, China, and countries within the Caribbean Community (CARICOM).

• Top Imports: Fuel, machinery, food, and beverages dominate, accounting for nearly 50% of total imports.

• Top Exports: Fishery products and molluscs lead, comprising about 20% of total exports, followed by rum and other spirits.

• Trade Balance: The country experiences a significant trade deficit, primarily due to high import demands and lower export volumes.

• Trade Policies: The Bahamas maintains tariffs on certain goods to protect domestic industries, and it is part of regional trade agreements to enhance economic integration.

Economic Landscape

• Consumer Spending: Consumer expenditure is robust, driven by tourism and the service sector, but is tempered by economic uncertainties.

• Interest Rates & Inflation: Inflation rates have been on the rise, influenced by global economic factors, and the central bank adjusts interest rates to manage economic stability.

• Supply Chain Dynamics: Supply chains, particularly for essential goods, have faced disruptions, impacting prices and availability in the local market.

• Sector Performance: Tourism and financial services remain the backbone of the economy, while the agriculture and fisheries sectors show potential for growth with targeted investments.

Overall Outlook

Amid ongoing global challenges, the Bahamas aims to diversify its economy and improve trade balances through strategic policies and investments, positioning itself for sustainable growth in the coming years.