Bahamas

Bahamas ranked No. 65 in total trade value through May with a total of $1.32 billion. Exports totaled $1.19 billion and Imports totaled $132.84 million, a surplus of $1.06 billion.

U.S. trade with Bahamas rose to $1.14 billion through May

Bahamas’s trade with the United States rose to $1.14 billion through the first five months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 0.73 percent below its total trade during the same time period last year. U.S. exports to Bahamas increased 0.57 percent while U.S. imports from Bahamas fell 11.12 percent. The U.S. surplus with Bahamas was $915.79 million.

Through May, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Palm Beach, Fla.; No. 2 Port Everglades, Fla.; No. 3 Port of Houston; No. 4 Low-Valued Imports and Exports; and No. 5 Port of Corpus Christi, Texas. During the same period the previous year, the top five were No. 1 Port of Palm Beach, Fla.; No. 2 Port Everglades, Fla.; No. 3 Port of Greater Baton Rouge, La.; No. 4 Low-Valued Imports and Exports and No. 5 Port of Lake Charles, La.. In the current time period, the top five accounted for 65.84 percent of Bahamas’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Palm Beach, Fla. fell 34.77 percent to $323.07 million.
    Exports fell 35.17 percent to $296.73 million. Imports fell 29.99 percent to $26.34 million.
  • Trade with No. 2 Port Everglades, Fla. fell 3.18 percent to $221.41 million.
    Exports rose 0.62 percent to $215.26 million. Imports fell 58.26 percent to $6.16 million.
  • Trade with No. 3 Port of Houston rose 64.02 percent to $123.53 million.
    Exports rose 64.53 percent to $99.64 million. Imports rose 61.92 percent to $23.9 million.
  • Trade with No. 4 Low-Valued Imports and Exports fell 7.05 percent to $118.31 million.
    Exports fell 7.05 percent to $118.31 million. There were no imports.
  • Trade with No. 5 Port of Corpus Christi, Texas totaled $83.95 million.
    Exports totaled $83.95 million. There were no imports.

Bahamas ranked No. 65 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 65.

Meanwhile, total U.S. trade with the world increased to $1.48 trillion, down 64.27 percent compared to the same period last year. The nation’s exports dropped 64.62 percent to $582.11 billion; imports dropped 64.04 percent to $898.44 billion. The nation’s top five countries so far this year, by value, are Canada; Mexico; China; Japan and Germany. The overall trade deficit was $316.33 billion, down compared to the same period of last year when the deficit was $853.23 billion.

The top five U.S. exports to Bahamas by value through May were the categories of Gasoline, other fuels; Low value shipments; Oil; Motorboats and yachts; and Passenger vehicles, respectively. They accounted for 54.73 percent of total exports to Bahamas.

The value of the top five categories of U.S. imports from Bahamas –– Returned exports, without change; Miscellaneous medical chemical re-agents; Shrimp, other crustaceans; Pebbles, gravel; and Various forms of salt –– accounted for 91.59 percent of all inbound shipments.

Looking more closely at U.S. exports to Bahamas:

  • Gasoline, other fuels fell 12.7 percent compared to last year to $366.06 million.
  • Low value shipments fell 7.05 percent compared to last year to $118.31 million.
  • Oil totaled $85.42 million. The previous year, there were no exports in this category.
  • Motorboats and yachts fell 70.43 percent compared to last year to $46.24 million.
  • Passenger vehicles rose 67.82 percent compared to last year to $34.65 million.

Looking more closely at U.S. imports from Bahamas:

  • Returned exports, without change fell 13.09 percent compared to last year to $58.97 million.
  • Miscellaneous medical chemical re-agents fell 18.48 percent compared to last year to $23.38 million.
  • Shrimp, other crustaceans fell 16.88 percent compared to last year to $20.2 million.
  • Pebbles, gravel fell 34.55 percent compared to last year to $10.75 million.
  • Various forms of salt rose 3.48 percent compared to last year to $8.37 million.

In the latest annual figures available, Bahamas recorded $3.73 billion in trade with the United States. Total U.S. exports to Bahamas were $ 3.32 billion and imports from Bahamas were $410.76 million. The U.S. surplus with Bahamas was $2.91 billion.