Guyana-Barbados Bilateral Trade Analysis 2023
Complete trade statistics: $148.85M total volume •Guyana surplus: $97.06M
Guyana → Barbados
$122.96M
Exports (2023)
Barbados → Guyana
$25.89M
Imports (2023)
Trade Balance
$97.06M
Surplus for Guyana
Total Trade
$148.85M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Guyana and Barbados. Green line shows exports from Guyana, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Guyana-Barbados commercial relationship and competitive positioning in global markets.
Guyana → Barbados Exports
Export Market Intelligence
🎯 Strategic Export Focus
Guyana's export portfolio to Barbados demonstrates strategic specialization, with oils: petroleum oils and oils obtained from bituminous minerals, crude representing a key competitive advantage in this bilateral market.
Barbados → Guyana Imports
Import Dependency Profile
📦 Import Strategy Analysis
Guyana's import pattern from Barbados reveals significant dependencyin wheat or meslin flour, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Guyana demonstrates competitive strength in exportingoils: petroleum oils and oils obtained from bituminous minerals, crude to Barbados, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $148.85M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Guyana-Barbados Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $148.85 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Guyana maintains a surplus of $97.06 million
- Export Focus: Guyana's primary exports include oils: petroleum oils and oils obtained from bituminous minerals, crude, containers: (including containers for transport of fluids) specially designed and equipped for carriage by one or more modes of transport, sands: natural, silica and quartz sands, whether or not coloured
- Import Dependencies: Key imports from Barbados include wheat or meslin flour, pebbles, gravel, broken or crushed stone: of a kind commonly used for concrete aggregates, for road metalling or for railway or other ballast, shingle and flint, whether or not heat-treated, food preparations: sweet biscuits, whether or not containing cocoa
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 $148.85M 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 Guyana leveraging its comparative advantages in oils: petroleum oils and oils obtained from bituminous minerals, crude.
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
Guyana's specialization in oils: petroleum oils and oils obtained from bituminous minerals, crudecomplements Barbados's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in wheat or meslin flour.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $148.85M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $148.85M 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 $148.85 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in oils: petroleum oils and oils obtained from bituminous minerals, crude and wheat or meslin flour demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Guyana's trade surplus of $97.06 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 Guyana and Barbados represents a total trade volume of $148.85 million in 2023. This partnership demonstrates a favorable trade balance for Guyana, with exports exceeding importsby $97.06 million.
Export Strengths
Guyana's exports to Barbados total $122.96 million, with competitive advantages in oils: petroleum oils and oils obtained from bituminous minerals, crude, representing $93.40M or76.0% of bilateral exports.
Import Dependencies
Imports from Barbados amount to $25.89 million, highlighting economic interdependence in wheat or meslin flour, with Wheat or meslin flour comprising17.2% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Guyana'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 Guyana and Barbados in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023