Barbados-Suriname Bilateral Trade Analysis 2023
Complete trade statistics: $12.57M total volume •Barbados deficit: $6.29M
Barbados → Suriname
$3.14M
Exports (2023)
Suriname → Barbados
$9.43M
Imports (2023)
Trade Balance
$6.29M
Deficit for Barbados
Total Trade
$12.57M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Barbados and Suriname. 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-Suriname commercial relationship and competitive positioning in global markets.
Barbados → Suriname Exports
Export Market Intelligence
🎯 Strategic Export Focus
Barbados's export portfolio to Suriname demonstrates strategic specialization, with rum and other spirits obtained by distilling fermented sugar-cane products representing a key competitive advantage in this bilateral market.
Suriname → Barbados Imports
Import Dependency Profile
📦 Import Strategy Analysis
Barbados's import pattern from Suriname reveals significant dependencyin fish: frozen, n.e.c. in item no. 0303.5, excluding fillets, fish meat of 0304, and edible fish offal of subheadings 0303.91 to 0303.99, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Barbados demonstrates competitive strength in exportingrum and other spirits obtained by distilling fermented sugar-cane products to Suriname, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $12.57M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Barbados-Suriname Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $12.57 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Barbados maintains a deficit of $6.29 million
- Export Focus: Barbados's primary exports include rum and other spirits obtained by distilling fermented sugar-cane products, 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, paper and paperboard: labels of all kinds, unprinted
- Import Dependencies: Key imports from Suriname include fish: frozen, n.e.c. in item no. 0303.5, excluding fillets, fish meat of 0304, and edible fish offal of subheadings 0303.91 to 0303.99, petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, fruit, edible: bananas, other than plantains, fresh or dried
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 $12.57M 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 rum and other spirits obtained by distilling fermented sugar-cane products.
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 rum and other spirits obtained by distilling fermented sugar-cane productscomplements Suriname's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in fish: frozen, n.e.c. in item no. 0303.5, excluding fillets, fish meat of 0304, and edible fish offal of subheadings 0303.91 to 0303.99.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $12.57M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $12.57M 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 $12.57 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in rum and other spirits obtained by distilling fermented sugar-cane products and fish: frozen, n.e.c. in item no. 0303.5, excluding fillets, fish meat of 0304, and edible fish offal of subheadings 0303.91 to 0303.99 demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Barbados's trade deficit of $6.29 million impacts 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 Suriname represents a total trade volume of $12.57 million in 2023. This partnership demonstrates an unfavorable trade balance for Barbados, with imports exceeding exportsby $6.29 million.
Export Strengths
Barbados's exports to Suriname total $3.14 million, with competitive advantages in rum and other spirits obtained by distilling fermented sugar-cane products, representing $1.08M or34.5% of bilateral exports.
Import Dependencies
Imports from Suriname amount to $9.43 million, highlighting economic interdependence in fish: frozen, n.e.c. in item no. 0303.5, excluding fillets, fish meat of 0304, and edible fish offal of subheadings 0303.91 to 0303.99, with Fish: frozen, n.e.c. in item no. 0303.5, excluding fillets, fish meat of 0304, and edible fish offal of subheadings 0303.91 to 0303.99 comprising43.1% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Barbados's strategic sourcing from Suriname. 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 Suriname in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023