Antigua and Barbuda Export Data

Antigua and Barbuda's Import/Export Overview and Market Analysis

Imports & Exports

• Top Trade Partners: Antigua and Barbuda's major trading partners include the United States, the United Kingdom, and Canada.

• Top 5 Imports: Fuel, foodstuffs, machinery, vehicles, and pharmaceuticals. These account for a significant portion of the total import value, reflecting the nation's reliance on imports for basic needs and economic activities.

• Top 5 Exports: Tourism services, rum, handicrafts, fruits, and vegetables. Despite the importance of tourism, physical exports remain limited, with rum and agricultural products being key.

• Trade Balance: Antigua and Barbuda experiences a persistent trade deficit, as imports far outweigh exports, primarily due to the high cost of fuel and food imports.

• Trade Policies: The country is part of the CARICOM and adheres to its trade policies, which include agreements with the EU and the United States. Efforts are being made to diversify the economy and increase self-sufficiency.

Market Conditions

• Consumer Expenditure: Consumer spending is robust, driven by tourism and remittances. However, rising prices due to import reliance affect local purchasing power.

• Interest Rates & Inflation: Inflation rates have been on the rise, influenced by global commodity prices. Interest rates have been adjusted to control inflation and stabilize the economy.

• Supply Chain: Supply chains are sensitive to global disruptions, affecting the availability and cost of imported goods. Efforts are in place to improve local production and reduce dependency.

• Sector Performance: The tourism sector is the backbone of the economy, while other sectors like agriculture and manufacturing play supporting roles. There's a growing interest in developing renewable energy sources.

Overall Outlook

Despite facing challenges such as a trade deficit and inflation, Antigua and Barbuda's economy shows resilience, with tourism as a strong pillar. Efforts to diversify the economy and enhance local production are key to long-term stability and growth.