NASSAU, BAHAMAS — The value of commodities imported into The Bahamas totaled $4.2 billion in 2023, marking a nine percent increase over 2022.
In stark contrast, total exports amounted to just $736.2 million, resulting in a $3.46 billion trade deficit.
According to the recently released 2023 Foreign Trade figures from The Bahamas National Statistical Institute, the value of commodities imported into The Bahamas increased to $4.2 billion, up from $3.8 billion in 2022. Machinery & Transport Equipment was the largest contributor to imports, totaling approximately $875 million (21 percent of all imports). This was followed by Food & Live Animals, which accounted for 18 percent or $761 million.
Total exports (including domestic and re-exports) for 2023 were $736.2 million. Domestic exports totaled $199.6 million, representing 27 percent of total exports, while re-exports were $536 million, accounting for 73 percent.
The United States maintained its position as The Bahamas’ number one trading partner. Despite significant trade with China, Japan, Panama, and Switzerland, the United States represented 84 percent of total imports and about 80 percent of exports.
