NASSAU, BAHAMAS — Estimates on commodities imported into The Bahamas during the second quarter totaled approximately $1.366 billion, marking a 25 percent increase compared to the same period last year.
The Bahamas National Statistical Institute, in its recently released second-quarter Foreign Trade figures, revealed that the largest contributor to imports was ‘Machinery & Transport Equipment,’ totaling approximately $325 million (or 24 percent of all imports).
This was followed by the category of ‘Mineral Fuels, Lubricants & Related Materials,’ which accounted for 22 percent, or $299 million. Other significant contributors to total imports included ‘Food and Live Animals,’ ‘Manufactured Goods Classified Chiefly by Materials,’ and ‘Miscellaneous Manufactured Articles,’ with a combined total of $530 million (39 percent of total imports).
Total exports (domestic and re-exports) for the 2nd quarter of 2024 reached $221 million, reflecting a significant decrease of 13 percent compared to the same period last year. The major categories of exports consisted mainly of ‘Machinery & Transport Equipment,’ totaling $90 million (41 percent of total exports), ‘Manufactured Goods Classified Chiefly by Materials,’ totaling $54 million (25 percent of total exports), and ‘Mineral Fuels, Lubricants, and Related Articles,’ totaling $19 million (9 percent of total exports).
Categories such as ‘Animal and Vegetable Oils and Fats,’ ‘Mineral Fuels, Lubricants and Related Articles,’ and ‘Crude Minerals, Inedible Except Fuels’ showed decreases of 50 percent, 37 percent, and 34 percent, respectively.
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