Saint Vincent and the Grenadines-Barbados Bilateral Trade Analysis 2023
Complete trade statistics: $22.85M total volume •Saint Vincent and the Grenadines deficit: $3.34M
Saint Vincent and the Grenadines → Barbados
$9.76M
Exports (2023)
Barbados → Saint Vincent and the Grenadines
$13.10M
Imports (2023)
Trade Balance
$3.34M
Deficit for Saint Vincent and the Grenadines
Total Trade
$22.85M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Saint Vincent and the Grenadines and Barbados. Green line shows exports from Saint Vincent and the Grenadines, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Saint Vincent and the Grenadines-Barbados commercial relationship and competitive positioning in global markets.
Saint Vincent and the Grenadines → Barbados Exports
Export Market Intelligence
🎯 Strategic Export Focus
Saint Vincent and the Grenadines's export portfolio to Barbados demonstrates strategic specialization, with wheat or meslin flour representing a key competitive advantage in this bilateral market.
Barbados → Saint Vincent and the Grenadines Imports
Import Dependency Profile
📦 Import Strategy Analysis
Saint Vincent and the Grenadines's import pattern from Barbados reveals strategic sourcingin medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Saint Vincent and the Grenadines demonstrates competitive strength in exportingwheat or meslin flour to Barbados, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsstrongcomplementarity, with each country specializing in different sectors.
Growth Potential
The $22.85M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Saint Vincent and the Grenadines-Barbados Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $22.85 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Saint Vincent and the Grenadines maintains a deficit of $3.34 million
- Export Focus: Saint Vincent and the Grenadines's primary exports include wheat or meslin flour, pile-drivers and pile-extractors, dog or cat food: (not put up for retail sale), used in animal feeding
- Import Dependencies: Key imports from Barbados include medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, margarine: excluding liquid margarine, waters: including mineral and aerated, containing added sugar or other sweetening matter or flavoured
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 $22.85M 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 Saint Vincent and the Grenadines leveraging its comparative advantages in wheat or meslin flour.
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
Saint Vincent and the Grenadines's specialization in wheat or meslin flourcomplements Barbados's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $22.85M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $22.85M 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 $22.85 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in wheat or meslin flour and medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Saint Vincent and the Grenadines's trade deficit of $3.34 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 Saint Vincent and the Grenadines and Barbados represents a total trade volume of $22.85 million in 2023. This partnership demonstrates an unfavorable trade balance for Saint Vincent and the Grenadines, with imports exceeding exportsby $3.34 million.
Export Strengths
Saint Vincent and the Grenadines's exports to Barbados total $9.76 million, with competitive advantages in wheat or meslin flour, representing $1.80M or18.5% of bilateral exports.
Import Dependencies
Imports from Barbados amount to $13.10 million, highlighting economic interdependence in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, with Medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale comprising20.1% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Saint Vincent and the Grenadines's strategic sourcing from Barbados. 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 Saint Vincent and the Grenadines and Barbados in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023