Grenada-Italy Bilateral Trade Analysis 2023
Complete trade statistics: $3.98M total volume •Grenada deficit: $3.18M
Grenada → Italy
$404,566
Exports (2023)
Italy → Grenada
$3.58M
Imports (2023)
Trade Balance
$3.18M
Deficit for Grenada
Total Trade
$3.98M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Grenada and Italy. Green line shows exports from Grenada, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Grenada-Italy commercial relationship and competitive positioning in global markets.
Grenada → Italy Exports
Export Market Intelligence
🎯 Strategic Export Focus
Grenada's export portfolio to Italy demonstrates strategic specialization, with spices: nutmeg, neither crushed nor ground representing a key competitive advantage in this bilateral market.
Italy → Grenada Imports
Import Dependency Profile
📦 Import Strategy Analysis
Grenada's import pattern from Italy reveals significant dependencyin furniture incorporating refrigerating or freezing equipment: for storage and display, n.e.c. in item no. 8418.1, 8418.2, 8418.3 or 8418.4 (chests, cabinets, display counters, show-cases and the like), highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Grenada demonstrates competitive strength in exportingspices: nutmeg, neither crushed nor ground to Italy, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $3.98M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Grenada-Italy Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $3.98 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Grenada maintains a deficit of $3.18 million
- Export Focus: Grenada's primary exports include spices: nutmeg, neither crushed nor ground, cocoa beans: whole or broken, raw or roasted, air conditioning machines: with motor driven fan and elements for temperature control, parts thereof
- Import Dependencies: Key imports from Italy include furniture incorporating refrigerating or freezing equipment: for storage and display, n.e.c. in item no. 8418.1, 8418.2, 8418.3 or 8418.4 (chests, cabinets, display counters, show-cases and the like), chandeliers and other electric ceiling or wall light fittings: excluding those used for lighting public open spaces or thoroughfares, refrigerating or freezing equipment: n.e.c. in heading no. 8418
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 $3.98M 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 Grenada leveraging its comparative advantages in spices: nutmeg, neither crushed nor ground.
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
Grenada's specialization in spices: nutmeg, neither crushed nor groundcomplements Italy's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in furniture incorporating refrigerating or freezing equipment: for storage and display, n.e.c. in item no. 8418.1, 8418.2, 8418.3 or 8418.4 (chests, cabinets, display counters, show-cases and the like).
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $3.98M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $3.98M 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 $3.98 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in spices: nutmeg, neither crushed nor ground and furniture incorporating refrigerating or freezing equipment: for storage and display, n.e.c. in item no. 8418.1, 8418.2, 8418.3 or 8418.4 (chests, cabinets, display counters, show-cases and the like) demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Grenada's trade deficit of $3.18 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 Grenada and Italy represents a total trade volume of $3.98 million in 2023. This partnership demonstrates an unfavorable trade balance for Grenada, with imports exceeding exportsby $3.18 million.
Export Strengths
Grenada's exports to Italy total $404.57 thousand, with competitive advantages in spices: nutmeg, neither crushed nor ground, representing $389,604 or96.3% of bilateral exports.
Import Dependencies
Imports from Italy amount to $3.58 million, highlighting economic interdependence in furniture incorporating refrigerating or freezing equipment: for storage and display, n.e.c. in item no. 8418.1, 8418.2, 8418.3 or 8418.4 (chests, cabinets, display counters, show-cases and the like), with Furniture incorporating refrigerating or freezing equipment: for storage and display, n.e.c. in item no. 8418.1, 8418.2, 8418.3 or 8418.4 (chests, cabinets, display counters, show-cases and the like) comprising14.7% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Grenada's strategic sourcing from Italy. 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 Grenada and Italy in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023