St. John’s Antigua, May 7, 2021. The Statistics Division under the Ministry of Finance and Corporate Governance releases the International Merchandise Trade Bulletin for the Third Quarter 2020.
IMPORTS
In the third quarter of 2020, Antigua and Barbuda total imports were valued at EC$ 307.6 million, a decrease of 29.5% when compared to EC$ 436.1 million for the same period in 2019 according to figures compiled by the Statistics Division.
This decline was largely due to a decrease in imports of Minerals fuels, lubricants and related materials, Machinery and transport equipment and Manufactured goods classified chiefly by material which fell 58.1%, 31.4% and 22.2% respectively.
EXPORTS
Total exports decreased by 72.6% to EC$ 5.5 million during the period July to September 2020 when compared to EC$ 19.9 million for the same period in 2019.
Domestic exports were valued at EC$ 0.8 million for the third quarter of 2020, a decrease of 57.0% when compared to EC$ 2.0 million in 2019. Re-exports were valued at EC$ 4.6 million or 74.3% less than the value for 2019 of EC$ 17.9 million.
PARTNER COUNTRIES
Imports from Antigua and Barbuda top ten trading partners declined by 19.5% in the third quarter with Japan (-65.3%), China (-28.4%), Jamaica (-26.3%) and United States of America (-21.7%) recording the largest percentage decreases for the review period.
CARICOM TRADE
Imports from CARICOM countries during the third quarter of 2020 were valued at EC$ 32.6 million, a decrease of 12.2% when compared to EC$ 37.1 million for the same period in 2019. Total exports to CARICOM countries declined by 30.1% to EC$ 1.9 million for period 2020.
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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.