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Bermuda

Bermuda ranked No. 111 in total trade value through June with a total of $339.55 million. Exports totaled $329 million and Imports totaled $10.56 million, a surplus of $318.44 million.

January – June 2019

Top Trading Ports

Total Trade: $339.55 million

RankPortTotal YTD
1Port of Fernandina Beach, Fla. $44,631,440
2Port of New York $43,390,591
3Low-Valued Imports and Exports $41,118,312
4Port of Wilmington, Dela. $34,872,518
5John F. Kennedy International Airport $30,818,387
6Port of Newark $30,380,960
7Port of Houston $27,019,132
8Port of New Orleans $24,287,861
9Port of Beaumont, Texas $13,163,565
10Christiansted Port Terminal, U.S. Virgin Islands $10,350,000

U.S. trade with Bermuda rose to $339.55 million through June

Bermuda’s trade with the United States rose to $339.55 million through the first six months of 2019, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 3.39 percent above its total trade during the same time period last year. Bermuda’s exports increased 2.8 percent while imports rose 26.3 percent. The U.S. surplus with Bermuda was $318.44 million.

Through June, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Fernandina Beach, Fla.; No. 2 Port of New York; No. 3 Low-Valued Imports and Exports; No. 4 Port of Wilmington, Dela.; and No. 5 John F. Kennedy International Airport. During the same period the previous year, the top five were No. 1 Clinton International Airport, Little Rock, Ark. No. 2 Port of New York No. 3 Port of Fernandina Beach, Fla. No. 4 Low-Valued Imports and Exports and No. 5 Port of Newark. In the current time period, the top five accounted for 57.38 percent of Bermuda’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Fernandina Beach, Fla. rose 9.52 percent to $44.63 million.
    Exports rose 7.1 percent to $43.53 million. Imports rose 939.17 percent to $1.1 million.
  • Trade with No. 2 Port of New York fell 13.09 percent to $43.39 million.
    Exports fell 13.2 percent to $43.25 million. Imports rose 44.26 percent to $144,174.
  • Trade with No. 3 Low-Valued Imports and Exports rose 3.13 percent to $41.12 million.
    Exports rose 3.13 percent to $41.12 million. There were no imports.
  • Trade with No. 4 Port of Wilmington, Dela. rose 6.81 percent to $34.87 million.
    Exports rose 8.02 percent to $34.86 million. Imports fell 97.27 percent to $10,225.
  • Trade with No. 5 John F. Kennedy International Airport rose 183.47 percent to $30.82 million.
    Exports rose 231.22 percent to $28.09 million. Imports rose 14.14 percent to $2.73 million.

Bermuda ranked No. 111 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 113.

Meanwhile, total U.S. trade with the world increased to $2.06 trillion, down 0.14 percent compared to the same period last year. The nation’s exports dropped 0.75 percent to $823.61 billion; imports climbed 0.28 percent to $1.24 trillion. The nation’s top five countries so far this year, by value, are Mexico; Canada; China; Japan and Germany. The overall trade deficit was $412.15 billion, up compared to the same period of last year when the deficit was $402.47 billion.

The top five U.S. exports to Bermuda by value through June were the categories of Gasoline, other fuels; Low value shipments; Paintings, drawings and other artwork; Cell phones, related equipment; and Jewelry, parts, respectively. They accounted for 44.77 percent of total exports to Bermuda.

The value of the top five categories of U.S. imports from Bermuda –– Value added to a returned import; Frozen fish; Rum, gin, vodka, other liquors; Salvage; and U.S. government imports –– accounted for 90.07 percent of all inbound shipments.

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

  • Gasoline, other fuels rose 200.43 percent compared to last year to $72.92 million.
  • Low value shipments rose 3.13 percent compared to last year to $41.12 million.
  • Paintings, drawings and other artwork rose 410.88 percent compared to last year to $20.73 million.
  • Cell phones, related equipment rose 2.45 percent compared to last year to $6.32 million.
  • Jewelry, parts rose 61.1 percent compared to last year to $6.19 million.

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

  • Value added to a returned import rose 20.93 percent compared to last year to $5.71 million.
  • Frozen fish totaled $2.5 million. The previous year, there were no imports in this category.
  • Rum, gin, vodka, other liquors fell 5.29 percent compared to last year to $578,079.
  • Salvage rose 3.28 percent compared to last year to $368,845.
  • U.S. government imports fell 1.8 percent compared to last year to $352,406.

In the latest annual figures available, Bermuda recorded $725.52 million in trade with the United States. At year’s end, its were New Orleans; New York City; Jacksonville/Tampa; Miami; and Low Value Shipments. Total U.S. exports to Bermuda were $ 692.11 million and imports from Bermuda were $33.41 million. The U.S. surplus with Bermuda was $658.7 million.