Barbados-Grenada Bilateral Trade Analysis 2023
Complete trade statistics: $11.41M total volume •Barbados surplus: $9.95M
Barbados → Grenada
$10.68M
Exports (2023)
Grenada → Barbados
$728,464
Imports (2023)
Trade Balance
$9.95M
Surplus for Barbados
Total Trade
$11.41M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Barbados and Grenada. Green line shows exports from Barbados, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Barbados-Grenada commercial relationship and competitive positioning in global markets.
Barbados → Grenada Exports
Export Market Intelligence
🎯 Strategic Export Focus
Barbados's export portfolio to Grenada demonstrates strategic specialization, with medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale representing a key competitive advantage in this bilateral market.
Grenada → Barbados Imports
Import Dependency Profile
📦 Import Strategy Analysis
Barbados's import pattern from Grenada reveals significant dependencyin paper articles: toilet paper, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Barbados demonstrates competitive strength in exportingmedicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale to Grenada, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $11.41M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Barbados-Grenada Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $11.41 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Barbados maintains a surplus of $9.95 million
- Export Focus: Barbados's primary exports include medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, waters: including mineral and aerated, containing added sugar or other sweetening matter or flavoured, insecticides: other than containing goods specified in subheading notes 1 & 2 to this chapter: put up in forms or packings for retail sale or as preparations or articles
- Import Dependencies: Key imports from Grenada include paper articles: toilet paper, engines: for marine propulsion, compression-ignition internal combustion piston engines (diesel or semi-diesel engines), crustaceans: frozen, lobsters (homarus spp.), in shell or not, smoked, cooked or not before or during smoking: in shell, cooked by steaming or by boiling in water
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents an important regional trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $11.41M represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Barbados leveraging its comparative advantages in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Barbados's specialization in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail salecomplements Grenada's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in paper articles: toilet paper.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $11.41M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $11.41M bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $11.41 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale and paper articles: toilet paper demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Barbados's trade surplus of $9.95 million strengthens its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Barbados and Grenada represents a total trade volume of $11.41 million in 2023. This partnership demonstrates a favorable trade balance for Barbados, with exports exceeding importsby $9.95 million.
Export Strengths
Barbados's exports to Grenada total $10.68 million, with competitive advantages in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, representing $1.95M or18.2% of bilateral exports.
Import Dependencies
Imports from Grenada amount to $728.46 thousand, highlighting economic interdependence in paper articles: toilet paper, with Paper articles: toilet paper comprising41.4% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Barbados's competitive position in this bilateral relationship. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Barbados and Grenada in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023