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Bermuda

Bermuda ranked No. 114 in total trade value through May with a total of $247.15 million. Exports totaled $237.54 million and Imports totaled $9.61 million, a surplus of $227.93 million.

January – May 2019

Top Trading Ports

Total Trade: $247.15 million

RankPortTotal YTD
1Port of Fernandina Beach, Fla. $36,750,827
2Port of New York $35,506,280
3Low-Valued Imports and Exports $30,921,296
4Port of Wilmington, Dela. $28,194,403
5Port of Newark $25,497,876
6Port of New Orleans $20,251,998
7John F. Kennedy International Airport $10,596,972
8Christiansted Port Terminal, U.S. Virgin Islands $10,350,000
9Port of Greater Baton Rouge, La. $8,933,400
10Miami International Airport $8,793,456

U.S. trade with Bermuda rose to $247.15 million through May

Bermuda’s trade with the United States rose to $247.15 million through the first five months of 2019, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 10.43 percent below its total trade during the same time period last year. U.S. exports to Bermuda decreased 11.42 percent while U.S. imports from Bermuda rose 23.84 percent. The U.S. surplus with Bermuda was $227.93 million.

Through May, 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 Port of Newark. 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 Low-Valued Imports and Exports No. 4 Port of Fernandina Beach, Fla. and No. 5 Port of Newark. In the current time period, the top five accounted for 63.47 percent of Bermuda’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Fernandina Beach, Fla. rose 17.88 percent to $36.75 million.
    Exports rose 15.85 percent to $36 million. Imports rose 612.03 percent to $754,263.
  • Trade with No. 2 Port of New York fell 11.84 percent to $35.51 million.
    Exports fell 11.97 percent to $35.4 million. Imports rose 76.76 percent to $104,590.
  • Trade with No. 3 Low-Valued Imports and Exports fell 5.67 percent to $30.92 million.
    Exports fell 5.67 percent to $30.92 million. There were no imports.
  • Trade with No. 4 Port of Wilmington, Dela. rose 3.69 percent to $28.19 million.
    Exports rose 5.1 percent to $28.18 million. Imports fell 97.27 percent to $10,225.
  • Trade with No. 5 Port of Newark fell 14.08 percent to $25.5 million.
    Exports fell 13.41 percent to $23.77 million. Imports fell 22.35 percent to $1.73 million.

Bermuda ranked No. 114 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 111.

Meanwhile, total U.S. trade with the world increased to $1.71 trillion, up 0.56 percent compared to the same period last year. The nation’s exports climbed 0.12 percent to $685.55 billion; imports climbed 0.86 percent to $1.03 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 $342.77 billion, up compared to the same period of last year when the deficit was $334.82 billion.

The top five U.S. exports to Bermuda by value through May were the categories of Gasoline, other fuels; Low value shipments; Cell phones, related equipment; Jewelry, parts; and Furniture, parts, respectively. They accounted for 37.32 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; U.S. government imports; and Salvage –– accounted for 90.15 percent of all inbound shipments.

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

  • Gasoline, other fuels rose 151.71 percent compared to last year to $42.6 million.
  • Low value shipments fell 5.67 percent compared to last year to $30.92 million.
  • Cell phones, related equipment rose 2.1 percent compared to last year to $5.61 million.
  • Jewelry, parts rose 67.47 percent compared to last year to $4.9 million.
  • Furniture, parts fell 15.68 percent compared to last year to $4.63 million.

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

  • Value added to a returned import rose 16.49 percent compared to last year to $5.08 million.
  • Frozen fish totaled $2.5 million. The previous year, there were no imports in this category.
  • Rum, gin, vodka, other liquors fell 20.69 percent compared to last year to $418,782.
  • U.S. government imports fell 1.8 percent compared to last year to $352,406.
  • Salvage rose 13.24 percent compared to last year to $313,303.

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.