NASSAU, BAHAMAS — Data on merchandise trade for the second quarter of 2023 reveals that the value of commodities imported into The Bahamas amounted to $1,094 billion, marking a substantial increase of 35 percent in comparison to the corresponding period of the previous year.
The primary categories of merchandise imports were mineral fuel, lubricants, and related materials, which accounted for a total of $225 million; machinery and transport equipment at $219 million; and food and live animals,’ totaling $193 million. Collectively, these categories represented 58% of the total imports.
Additional categories contributing to the overall import figures included miscellaneous manufactured articles, amounting to $139 million; manufactured goods classified chiefly by materials with a value of $132 million; and chemicals, totaling $77 million. The combined value of these groups accounted for 32% of the total imports.
Notably, the categories mineral fuel, lubricants, and related materials and machinery and transport equipment exhibited significant growth, with increases of 103 percent and 62 percent, respectively, when compared to the same quarter of the previous year.
Regarding total exports during the second quarter of 2023, data indicates that the value of commodities exported (both Domestic and Re-Exported) from The Bahamas amounted to $247 million, representing a remarkable increase of 68 percent compared to the same period in the prior year.
The primary contributors to export figures included machinery and transport equipment, totaling $118 million; manufactured goods classified chiefly by materials, amounting to $61 million; and mineral fuels, lubricants, and related materials,’ with a value of $31 million. These categories combined to constitute 85 percent of the total exports.
Categories that experienced significant growth included machinery and transport equipment, crude minerals, inedible except fuels, and beverages and tobacco, with increases of 340 percent, 208 percent, and 65 percent, respectively, when compared to the same quarter of the prior year.