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Bermuda

Bermuda ranked No. 113 in total trade value through February with a total of $97.06 million. Exports totaled $93.17 million and Imports totaled $3.88 million, a surplus of $89.29 million.

January – February 2019

Top Trading Ports

Total Trade: $97.06 million

RankPortTotal YTD
1Port of Fernandina Beach, Fla. $13,690,955
2Port of New Orleans $12,789,416
3Port of New York $12,779,212
4Low-Valued Imports and Exports $12,697,395
5Port of Wilmington, Dela. $11,303,481
6Port of Greater Baton Rouge, La. $8,933,400
7Port of Newark $8,526,092
8John F. Kennedy International Airport $5,163,392
9Port of Houston $3,513,588
10Miami International Airport $1,933,592

U.S. trade with Bermuda rose to $97.06 million through February

Bermuda’s trade with the United States rose to $97.06 million through the first two months of 2019, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 26.04 percent below its total trade during the same time period last year. Bermuda’s exports decreased 27.81 percent while imports rose 79.87 percent. The U.S. surplus with Bermuda was $89.29 million.

Through February, 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 Orleans; No. 3 Port of New York; No. 4 Low-Valued Imports and Exports; and No. 5 Port of Wilmington, Dela.. 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 Port of Newark and No. 5 Port of Wilmington, Dela.. In the current time period, the top five accounted for 65.18 percent of Bermuda’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Fernandina Beach, Fla. rose 17.08 percent to $13.69 million.
    Exports rose 10.82 percent to $12.94 million. Imports rose 4655.87 percent to $750,000.
  • Trade with No. 2 Port of New Orleans rose 314.66 percent to $12.79 million.
    Exports rose 317.53 percent to $12.77 million. Imports fell 41.25 percent to $14,450.
  • Trade with No. 3 Port of New York fell 11.16 percent to $12.78 million.
    Exports fell 11.16 percent to $12.78 million. There were no imports.
  • Trade with No. 4 Low-Valued Imports and Exports rose 49.94 percent to $12.7 million.
    Exports rose 49.94 percent to $12.7 million. There were no imports.
  • Trade with No. 5 Port of Wilmington, Dela. rose 15.54 percent to $11.3 million.
    Exports rose 19.85 percent to $11.3 million. Imports fell 97.85 percent to $7,705.

Bermuda ranked No. 113 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 101.

Meanwhile, total U.S. trade with the world increased to $650.55 billion, up 1.11 percent compared to the same period last year. The nation’s exports climbed 2.61 percent to $260.05 billion; imports climbed 0.14 percent to $390.5 billion. The nation’s top five countries so far this year, by value, are Mexico; Canada; China; Japan and Germany. The overall trade deficit was $130.45 billion, down compared to the same period of last year when the deficit was $136.53 billion.

The top five U.S. exports to Bermuda by value through February were the categories of Gasoline, other fuels; Low value shipments; Misc. mineral substances; Cell phones, related equipment; and Furniture, parts, respectively. They accounted for 45.04 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; U.S. government imports; Rum, gin, vodka, other liquors; Antiques; and Salvage –– accounted for 90.29 percent of all inbound shipments.

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

  • Gasoline, other fuels rose 299.57 percent compared to last year to $21.95 million.
  • Low value shipments rose 49.94 percent compared to last year to $12.7 million.
  • Misc. mineral substances rose 1952.47 percent compared to last year to $2.95 million.
  • Cell phones, related equipment fell 1.09 percent compared to last year to $2.36 million.
  • Furniture, parts rose 6.05 percent compared to last year to $2.01 million.

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

  • Value added to a returned import rose 92.35 percent compared to last year to $2.67 million.
  • U.S. government imports fell 0.83 percent compared to last year to $352,406.
  • Rum, gin, vodka, other liquors rose 2.49 percent compared to last year to $224,927.
  • Antiques totaled $150,000. The previous year, there were no imports in this category.
  • Salvage rose 27.35 percent compared to last year to $112,802.

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.