Imports fell 40.2% in the Second Quarter of 2020

St. John’s Antigua, April 6, 2021. The Statistics Division under the Ministry of Finance and Corporate Governance releases the International Merchandise Trade Bulletin for the Second Quarter 2020.

HIGHLIGHTS

In the second quarter of 2020, Antigua and Barbuda total imports were valued at EC$ 267.4 million, a decrease of 40.2% when compared to EC$ 446.9 million for the same period in 2019 according to figures compiled by the Statistics Division.

Total exports decreased by 71.8% to EC$ 4.9 million during the period April to June 2020 when compared to EC$ 17.5 million for the same period in 2019.

There was a large decrease of imports from the United States of America (USA), Antigua and Barbuda main trading partner. Imports excluding petroleum products from the USA were valued at EC$ 100.5 million for the current review period a decrease of 43.2% from EC$ 176.9 million compared to the same period in 2019.

IMPORTS

In the second quarter of 2020, Minerals fuels, lubricants and related materials had the largest decrease of EC$ 38.4 million or 52.4% less than the EC$ 73.3 million in 2019. Imports of petroleum products and related materials such as fuel oil, jet fuel, lubricating oil and liquid propane gas fell significantly.

Manufactured goods classified chiefly by material decreased 47.2% or EC$ 34.9 million less than the value of EC$ 73.9 million for the same period in 2019 as in imports of other articles of iron or steel and other articles of cement and building cement fell.

Imports of Machinery and transport equipment declined EC$ 30.9 million or 31.6% in the second quarter of 2020. This was primarily due to the decreased importation of cars and other vehicles and vehicle parts (-EC$ 15.9 million).

Miscellaneous manufactured articles declined by 60.9% from EC$ 49.3 million in the second quarter of 2019 to EC$ 19.3 million for the same period in 2020. This was due primarily to less imports of other articles of plastics, other wooden furniture and electric lamps materials.

EXPORTS

Domestic exports were valued at EC$ 0.4 million in the second quarter of 2020, a decrease of 59.4% when compared to EC$ 0.9 million in 2019. The decrease in value for domestic exports was primarily due to no exports of seafood and less exports rum and other spirits and galvanize.

Re-exports were valued at EC$ 4.6 million a decrease of 72.5% less than the value for 2019 of EC$ 16.6 million

CARICOM TRADE

Imports from CARICOM countries during the second quarter of 2020 were valued at EC$ 34.4 million, a decrease of 7.8% when compared to EC$ 37.3 million for the same period in 2019. Imports of items such as beer, sodas, bananas, unsweetened biscuits and paints declined. However, there were higher purchases of flour, processed cheese, margarine and natural sands.

Imports from the main trading partner of Antigua and Barbuda in CARICOM, Trinidad and Tobago decreased 25.8% with imports valued at EC$ 11.8 million when compared to EC$ 15.9 million in 2019.  The decrease was due to less spending on sodas, biscuits, fruit and vegetable drink and beer.

In the second quarter of 2020, total exports to CARICOM member states were valued at EC$ 1.6 million a decrease of 48.1% when compared to EC$ 3.1 million for the same period in 2019. Domestic exports were valued at EC$ 0.2 million, a decrease of 22.0% when compared to EC$ 0.3 million for 2019. Re-exports were valued at EC$ 1.4 million, a decrease of 51.1% with the comparable period for 2019 of EC$ 2.8 million.

END

Methodology

The General Trade System is used to compile the bulletin. Under this system all goods are recorded as imports when they enter Antigua and Barbuda while all goods leaving the country are recorded as exports. Customs records are the main data source. These records are based on documents for the importation and exportation of goods which are recorded by importers or brokers into the computerized system using the appropriate tariff codes.

Additional information on International Merchandise Trade is outlined in the International Merchandise Trade Bulletin. The Second Quarter 2020 International Merchandise Bulletin is available at the Division website www.statistics.gov.ag

 Second Quarter 2020 Trade Bulletin Publication