NASSAU, BAHAMAS — Exports from the Bahamas during the first quarter of the year saw a significant decrease of 44 percent compared to the same period in 2023, according to recent data from the Bahamas National Statistical Institute (BNSI).
The latest figures reveal that total exports (including domestic and re-exports) for the first quarter of 2024 amounted to $95 million, marking a substantial decline of 44 percent from the corresponding period last year. The primary export categories were ‘Food and Live Animals’ totaling $24 million (25 percent of total exports), ‘Mineral Fuels, Lubricants, and Related Articles’ totaling $23 million (24 percent of total exports), and ‘Crude Minerals’ totaling $14 million (15 percent of total exports).
The BNSI report highlighted significant declines in exports of Manufactured Goods Classified Chiefly by Materials, ‘Machinery & Transport Equipment’, and ‘Mineral Fuels, Lubricants, and Related Materials’, which saw decreases of 82 percent, 65 percent, and 54 percent respectively.
Additionally, trade data showed that imports into the Bahamas amounted to an estimated $1.027 billion, representing an increase of less than one percent compared to the same period last year. The largest import category was ‘Machinery & Transport Equipment’ totaling approximately $240 million (17 percent of all imports), followed by ‘Food & Live Animals’ accounting for less than one percent or $199 million. Other categories that contributed significantly to total imports were ‘Miscellaneous Manufactured Articles’, ‘Mineral Fuels, Lubricants & Related Materials’, and ‘Chemicals’ with a combined total of $329 million, constituting 32 percent of total imports.
Loading ...
