$1.2b trade deficit

As concerns about the global impact of higher United States (US) tariffs persist, Barbados’ trade deficit has widened.

Official data shows that so far in 2025 the island is buying more from the world and selling less to it, including with main trading partner the US.

This information comes in the April trade bulletin published by the Barbados Statistical Service (BSS), which is reporting a trade deficit of $1.23 billion between January and April. The deficit was $1.10 billion in the same period last year.

“For the period January to April 2025, the value of imports to Barbados was $1.55 billion, whilst the value of total exports was $315.2 million representing an accumulated visible trade deficit of $1.23 billion as compared to a similar deficit of $1.10 billion for January to April 2024,” the BSS bulletin states.

“Imports for January to April 2025 were $107 million more than imports for the same period 2024, an increase of 7.4 per cent. Total exports showed a decrease of some $29.5 million or 8.6 per cent over the January to April 2024 figure.

“Domestic exports decreased by $5.8 million or 3.7 per cent over January to April 2024. The value of re-exports decreased by $23.7 million or 12.7 per cent over the corresponding period 2024.”

In terms of Barbados’ trade with other Caribbean Community (CARICOM) states, the BSS reported a deficit of $240.7 million between January and April.

It said that in the first four months of this year “total imports from CARICOM were valued at $341 million, whilst total exports were $100.3 million resulting in an accumulated visible trade deficit of $240.7 million as compared with a deficit of $323.3 million for the same period of 2024”.

“During this period, CARICOM imports were approximately $83.4 million less than those over the same period in 2024, a decrease of 19.6 per cent. Total exports to CARICOM for January to April 2025 were $800 000 less than total exports for the corresponding period 2024, a decrease of 0.8 per cent,” it said.

“Domestic exports decreased by approximately $3.3 million or 3.9 per cent over the same period 2024. The value of re-exports increased by $2.5 million or 15.2 per cent over the January to April 2024 figure.”

Barbados’ main imports in the first four months of this year included petroleum, petroleum products and related materials (20 per cent), general industrial machinery and parts (nine per cent), road vehicles (nine per cent), vegetables and fruits (four per cent),

miscellaneous manufactured articles (four per cent), meat and meat preparations (three per cent), manufactures of metals, (three per cent), and electrical machinery (three per cent).

Imported most goods

The island’s main exports during the four-month period in which US President Donald Trump announced “reciprocal tariffs” for all countries, included beverages (21 per cent), cereals (nine per cent), miscellaneous manufactured articles (nine per cent), metalliferous ores and metal scrap (seven per cent), petroleum, petroleum products and related materials (six per cent), medicinal and pharmaceutical products (six per cent), manufactures of metals (six per cent), chemical products (five per cent), and miscellaneous edible products (five per cent).

Barbados imported most of its goods – $530.8 million from the US between January and April – an increase over the $513.2 million in items bought in the same four months last year.

Barbados exported $44.9 million to the US in the period, down from $50.3 million between January and April 2024.

The main items imported from the US in the four months were fresh and dry fruits and nuts ($20.5 million), data processing machines ($15.1 million), edible products ($14.6 million), articles of plastic ($13.3 million), vegetables ($12.4 million), furniture and parts ($12.3 million), heating/cooling equipment ($12 million), refined petroleum products ($11.2 million), and articles of paper ($10.8 million).

The island’s main exports to the US between January and April were alcoholic beverages ($13.7 million), followed by cereal, flour, and starch ($2.4 million).

Of the $341 million in goods imported from CARICOM countries, the vast majority was purchased from Trinidad and Tobago – $296.3 million. It was followed by $21.5 million in imports from Jamaica.

Barbados’ main import from Trinidad and Tobago was refined petroleum products ($223.6 million), with cereal, flour, and starch ($7.5 million) a distant second.

It sold mainly medicaments ($2.4 million), margarine and shortening ($2.3 million), and residual petroleum products ($2.2 million) to the neighbouring twin island republic. (SC)

The post $1.2b trade deficit appeared first on nationnews.com.