Grenada Import Data

Grenada's Import/Export Overview and Domestic Market Update

Imports & Exports

• Top Trade Partners: Grenada's principal trading partners include the United States, Trinidad and Tobago, and the United Kingdom, reflecting a diverse yet concentrated market focus.

• Imports: The top five imports are food products, machinery equipment, fuels, pharmaceuticals, and vehicles, accounting for a significant portion of the total import bill.

• Exports: Nutmeg, cocoa, and other agricultural products, along with spices and textiles, form the backbone of Grenada's exports, highlighting the country's agricultural strength.

• Trade Balance: Grenada experiences a trade deficit, importing more than it exports, which is a common scenario for small island states with limited industrial bases.

• Trade Policy: Grenada's trade policy is geared towards regional integration through CARICOM and trade facilitation agreements, aiming to boost export competitiveness.

Domestic Market

• Consumer Spending: Consumer spending in Grenada is robust, driven by a growing tourism sector and increasing disposable incomes, though inflationary pressures can dampen purchasing power.

• Inflation & Interest Rates: Inflation in Grenada remains a concern, influenced by global commodity prices and domestic demand pressures. Interest rates are set by the Eastern Caribbean Central Bank to manage inflation and support economic stability.

• Supply Chain Resilience: Grenada's supply chain is adapting to global disruptions, with efforts to improve logistics and reduce dependency on imports for critical goods.

• Industry Performance: The agriculture and tourism sectors are key performers, with growing interest in the potential of renewable energy and digital services for diversification.

Overall Outlook

Grenada's economy, while facing challenges such as trade imbalances and inflation, is poised for growth through strategic investments in tourism, agriculture, and sustainable development. The country's efforts to strengthen trade relations and internal markets are expected to contribute to its long-term economic resilience.