Bahamas Exports Decline Q1 2024

• Exports from the Bahamas during the first quarter of the year saw a significant decrease of 44% compared to the same period in 2023, according to recent data from the Bahamas National Statistical Institute (BNSI).
• The latest figures reveal that total exports (including domestic and re-exports) for the first quarter of 2024 amounted to $95Mn, marking a substantial decline from the corresponding period last year.
• The primary export categories were ‘Food and Live Animals’ totalling $24Mn (25% of total exports), ‘Mineral Fuels, Lubricants, and Related Articles’ totalling $23Mn (24% of total exports), and ‘Crude Minerals’ totalling $14Mn (15% of total exports).
• The BNSI report highlighted significant declines in exports of Manufactured Goods Classified Chiefly by Materials, ‘Machinery & Transport Equipment’, and ‘Mineral Fuels, Lubricants, and Related Materials’, which saw decreases of 82%, 65%, and 54% respectively.
• Additionally, trade data showed that imports into the Bahamas amounted to an estimated $1.027Bn, representing an increase of less than 1% compared to the same period last year.

 (Source: Eyewitness News)