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Bermuda

Bermuda ranked No. 114 in total trade value through March with a total of $146.15 million. Exports totaled $138.6 million and Imports totaled $7.55 million, a surplus of $131.05 million.

January – March 2019

Top Trading Ports

Total Trade: $146.15 million

RankPortTotal YTD
1Port of Fernandina Beach, Fla. $21,696,626
2Port of New York $21,306,794
3Low-Valued Imports and Exports $18,383,219
4Port of New Orleans $17,230,170
5Port of Wilmington, Dela. $17,035,019
6Port of Newark $13,710,520
7Port of Greater Baton Rouge, La. $8,933,400
8John F. Kennedy International Airport $5,792,926
9Christiansted Port Terminal, U.S. Virgin Islands $3,600,000
10Port of Houston $3,525,998

U.S. trade with Bermuda rose to $146.15 million through March

Bermuda’s trade with the United States rose to $146.15 million through the first three months of 2019, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 18.03 percent below its total trade during the same time period last year. Bermuda’s exports decreased 20.76 percent while imports rose 123.18 percent. The U.S. surplus with Bermuda was $131.05 million.

Through March, 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 New Orleans; 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 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 65.45 percent of Bermuda’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Fernandina Beach, Fla. rose 14.87 percent to $21.7 million.
    Exports rose 10.99 percent to $20.95 million. Imports rose 4664.19 percent to $751,312.
  • Trade with No. 2 Port of New York fell 2.94 percent to $21.31 million.
    Exports fell 2.94 percent to $21.31 million. There were no imports.
  • Trade with No. 3 Low-Valued Imports and Exports fell 9.98 percent to $18.38 million.
    Exports fell 9.98 percent to $18.38 million. There were no imports.
  • Trade with No. 4 Port of New Orleans rose 137.15 percent to $17.23 million.
    Exports rose 172.57 percent to $17.2 million. Imports fell 96.96 percent to $29,018.
  • Trade with No. 5 Port of Wilmington, Dela. rose 10.41 percent to $17.04 million.
    Exports rose 13.02 percent to $17.03 million. Imports fell 97.88 percent to $7,705.

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. 108.

Meanwhile, total U.S. trade with the world increased to $1.01 trillion, up 0.65 percent compared to the same period last year. The nation’s exports climbed 1.42 percent to $408.22 billion; imports climbed 0.13 percent to $598.47 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 $190.25 billion, down compared to the same period of last year when the deficit was $195.16 billion.

The top five U.S. exports to Bermuda by value through March were the categories of Gasoline, other fuels; Low value shipments; Cell phones, related equipment; Orthopedic appliances, artificial body parts; and Misc. mineral substances, respectively. They accounted for 41.37 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; U.S. government imports; Rum, gin, vodka, other liquors; and Salvage –– accounted for 89.18 percent of all inbound shipments.

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

  • Gasoline, other fuels rose 380.44 percent compared to last year to $28.07 million.
  • Low value shipments fell 9.98 percent compared to last year to $18.38 million.
  • Cell phones, related equipment rose 8.99 percent compared to last year to $4.25 million.
  • Orthopedic appliances, artificial body parts rose 59.66 percent compared to last year to $3.69 million.
  • Misc. mineral substances rose 1824.99 percent compared to last year to $2.96 million.

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

  • Value added to a returned import rose 42.69 percent compared to last year to $3.45 million.
  • Frozen fish totaled $2.5 million. The previous year, there were no imports in this category.
  • U.S. government imports fell 0.83 percent compared to last year to $352,406.
  • Rum, gin, vodka, other liquors fell 9 percent compared to last year to $265,574.
  • Salvage rose 35.3 percent compared to last year to $166,744.

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.