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Bermuda

Bermuda ranked No. 112 in total trade value through September with a total of $480.37 million. Exports totaled $463.89 million and Imports totaled $16.48 million, a surplus of $447.42 million.

January – September 2019

Top Trading Ports

Total Trade: $480.37 million

RankPortTotal YTD
1Port of New York $66,435,373
2Port of Fernandina Beach, Fla. $65,768,394
3Low-Valued Imports and Exports $59,342,022
4Port of Wilmington, Dela. $50,973,169
5Port of Newark $47,928,296
6Port of New Orleans $47,352,597
7John F. Kennedy International Airport $34,078,822
8Port of Houston $28,819,132
9Christiansted Port Terminal, U.S. Virgin Islands $15,830,241
10Miami International Airport $13,955,503

U.S. trade with Bermuda rose to $480.37 million through September

Bermuda’s trade with the United States rose to $480.37 million through the first nine months of 2019, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 2.99 percent above its total trade during the same time period last year. U.S. exports to Bermuda increased 2.08 percent while U.S. imports from Bermuda rose 37.16 percent. The U.S. surplus with Bermuda was $447.42 million.

Through September, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of New York; No. 2 Port of Fernandina Beach, Fla.; No. 3 Low-Valued Imports and Exports; No. 4 Port of Wilmington, Dela.; and No. 5 Port of Newark. During the same period the previous year, the top five were No. 1 Port of New York No. 2 Port of Fernandina Beach, Fla. No. 3 Clinton International Airport, Little Rock, Ark. No. 4 Low-Valued Imports and Exports and No. 5 Port of Newark. In the current time period, the top five accounted for 60.46 percent of Bermuda’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of New York fell 10.56 percent to $66.44 million.
    Exports fell 10.71 percent to $65.82 million. Imports rose 9.48 percent to $618,448.
  • Trade with No. 2 Port of Fernandina Beach, Fla. rose 8.84 percent to $65.77 million.
    Exports rose 5.51 percent to $63.62 million. Imports rose 1602.99 percent to $2.15 million.
  • Trade with No. 3 Low-Valued Imports and Exports rose 2.02 percent to $59.34 million.
    Exports rose 2.02 percent to $59.34 million. There were no imports.
  • Trade with No. 4 Port of Wilmington, Dela. rose 5.62 percent to $50.97 million.
    Exports rose 6.51 percent to $50.96 million. Imports fell 96.33 percent to $15,400.
  • Trade with No. 5 Port of Newark fell 15.35 percent to $47.93 million.
    Exports fell 17.23 percent to $43.91 million. Imports rose 12.57 percent to $4.02 million.

Bermuda ranked No. 112 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 114.

Meanwhile, total U.S. trade with the world increased to $3.11 trillion, down 0.58 percent compared to the same period last year. The nation’s exports dropped 1.01 percent to $1.23 trillion; imports dropped 0.3 percent to $1.88 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 $647.62 billion, up compared to the same period of last year when the deficit was $640.85 billion.

The top five U.S. exports to Bermuda by value through September 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 42.54 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; Orthopedic appliances, artificial body parts; and Antiques –– accounted for 83.98 percent of all inbound shipments.

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

  • Gasoline, other fuels rose 108.62 percent compared to last year to $97.74 million.
  • Low value shipments rose 2.02 percent compared to last year to $59.34 million.
  • Paintings, drawings and other artwork rose 440.93 percent compared to last year to $22.08 million.
  • Cell phones, related equipment fell 23.73 percent compared to last year to $9.82 million.
  • Jewelry, parts rose 45.49 percent compared to last year to $8.34 million.

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

  • Value added to a returned import rose 33.92 percent compared to last year to $8.67 million.
  • Frozen fish rose 260.22 percent compared to last year to $2.5 million.
  • Rum, gin, vodka, other liquors rose 3.14 percent compared to last year to $1.05 million.
  • Orthopedic appliances, artificial body parts totaled $870,027. The previous year, there were no imports in this category.
  • Antiques totaled $750,000. The previous year, there were no imports in this category.

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.

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