Barbados’ spending on imports surged to $3.03 billion in the first eight months of the year, as total exports in the same period fell to $567.4 million to leave the island with a $2.47 billion trade deficit.
This has been reported in the monthly trade bulletin for August published by the Barbados Statistical Service (BSS).
The information does not specify any impact from the United States’ (US) imposition of tariffs but shows that the value of imports from that country – Barbados’ main trading partner – increased to $1.09 billion between January and August, up from $1.05 billion in the same period in 2024.
On the other hand, Barbados’ exports to the US fell from the $120.5 million worth sold in the first eight months of 2024 to $94.3 million in that period this year.
The US and Trinidad and Tobago are still the island’s main trading partners. The BSS numbers showed that after the $1.09 billion in goods purchased from the US between January and August, Trinidad and Tobago was next with $512.8 million in goods ($644.4 million in 2024).
These were followed by China’s $251.1 million ($104.4 million in 2024), the Netherlands’ $190.4 million ($176.4 million in 2024), the United Kingdom’s $143.6 million ($126 million in 2024), Japan’s $93.2 million ($77.5 million in 2024) and Canada’s $76.4 million ($57.5 million in 2024).
“For the period January to August 2025, the value of imports to Barbados was $3.03 billion, whilst the value of total exports was $567.4 million representing an accumulated visible trade deficit of $2.47 billion as compared to a similar deficit of $2.21 billion for January to August 2024,” the BSS bulletin stated.
“Imports for January to August 2025 were $182.1 million more than imports for the same period 2024, an increase of 6.4 per cent. Total exports showed a decrease of some $74.7 million or 11.6 per cent over the January to August 2024 figure.
“Domestic exports decreased by $31.7 million or 9.7 per cent over January to August 2024. The value of re-exports decreased by $43 million or 13.7 per cent over the corresponding period 2024.”
As its imports from the US expanded, Barbados purchased less goods in value from fellow CARICOM member states overall.
Goods worth $611.2 million were imported from CARICOM countries, down from $737.7 million in the same eight-month period last year. Exports to CARICOM fell from $215.1 million in the period last year to $200.3 million this year.
Most CARICOM imports came from Trinidad and
Tobago. The majority of spending on goods from the neighbouring twin island republic between January and August was the $352.8 million spent on refined petroleum products.
Barbados exported $33.3 million in goods to Trinidad and Tobago in the same time, down from about $43 million last year. The majority of Barbados’ CARICOM exports – $40.4 million – were sold to Jamaica, down from $45.7 million in the same period in 2024.
Jamaica trailed Trinidad and Tobago as the CARICOM country which sold Barbados the most goods. Imports from Jamaica were $50.5 million, up from $46.3 million in the same period in 2024.
“For the period January to August 2025, total imports from CARICOM were valued at $611.2 million, whilst total exports were $200.3 million resulting in an accumulated visible trade deficit of $410.9 million as compared with a deficit of $522.6 million for the same period of 2024,” the BSS said.
“During this period, CARICOM imports were approximately $126.6 million less than those over the same period in 2024, a decrease of 17.2 per cent. Total exports to CARICOM for January to August 2025 were $14.9 million less than total exports for the corresponding period 2024, a decrease of 6.9 per cent.”
The state agency added: “Domestic exports decreased by approximately $17.1 million or 9.6 per cent over the same period 2024. The value of re-exports increased by $2.2 million or 6.1 per cent over the January to August 2024 figure.”
China, whose main exports to Barbados between January and August totalled $163.2 million in value, was grouped among the “all other countries” from which Barbados imported goods valued at $963.4 million over the eight months, up from $734.7 million in the same time last year.
In terms of merchandise categories, Barbados spent the most on machinery and transport equipment – $823.6 million – in the first eight months of this year. This was an increase over the $645 million spent on this category in January to August 2024.
Imports of food and live animals was next at $559.7 million, up from $536.3 million in the same period last year, followed by imports of mineral fuels, lubricants and related materials were next at $541.4 million, down from $683 million in the same period last year. (SC)
