Overview In 2019 Grenada was the number 174 economy in the world in terms of GDP (current US$), the number 203 in total exports, the number 198 in total imports, the number 68 economy in terms of GDP per capita (current US$) and the number null most complex economy according to the Economic Complexity Index (ECI).

Exports The top exports of Grenada are Non-fillet Fresh Fish ($9.1M), Nutmeg, mace and cardamons ($6.5M), Cocoa Beans ($3.12M), Other Fruits ($2.23M), and Wheat Flours ($2.13M), exporting mostly to United States ($14.4M), Saint Vincent and the Grenadines ($2.44M), Saint Lucia ($2.35M), France ($2.02M), and Netherlands ($1.92M).

Imports The top imports of Grenada are Planes, Helicopters, and/or Spacecraft ($62.5M), Poultry Meat ($10.4M), Cars ($10.3M), Refined Petroleum ($9.36M), and Other Edible Preparations ($5.82M), importing mostly from United States ($99.9M), Canada ($68.1M), China ($14.5M), United Kingdom ($11.9M), and Brazil ($10.1M).

Location Grenada borders Saint Vincent and the Grenadines and Trinidad and Tobago by sea.

Historical Data

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Yearly Exports

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Top Export (2019): Non-fillet Fresh Fish, $9.1M

Top Destination (2019): United States, $14.4M

In 2019, Grenada exported a total of $36M, making it the number 203 exporter in the world. During the last five reported years the exports of Grenada have changed by -$3.27M from $39.3M in 2014 to $36M in 2019.

The most recent exports are led by Non-fillet Fresh Fish ($9.1M), Nutmeg, mace and cardamons ($6.5M), Cocoa Beans ($3.12M), Other Fruits ($2.23M), and Wheat Flours ($2.13M). The most common destination for the exports of Grenada are United States ($14.4M), Saint Vincent and the Grenadines ($2.44M), Saint Lucia ($2.35M), France ($2.02M), and Netherlands ($1.92M).

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Yearly Imports

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Top Import (2019): Planes, Helicopters, and/or Spacecraft, $62.5M

Top Origin (2019): United States, $99.9M

In 2019 Grenada imported $283M, making it the number 198 trade destination in the world. During the last five reported years the imports of Grenada changed by $20.5M from $263M in 2014 to $283M in 2019.

The most recent imports of Grenada are led by Planes, Helicopters, and/or Spacecraft ($62.5M), Poultry Meat ($10.4M), Cars ($10.3M), Refined Petroleum ($9.36M), and Other Edible Preparations ($5.82M). The most common import partners for Grenada are United States ($99.9M), Canada ($68.1M), China ($14.5M), United Kingdom ($11.9M), and Brazil ($10.1M).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

Grenada Exports Services (2017): $549M

Grenada Imports Services (2017): $231M

In 2017, Grenada exported $549M worth of services. The top services exported by Grenada in 2017 were Travel ($499M), Miscellaneous business, professional, and technical services ($15.2M), Air transport ($12.3M), Computer and information services ($9.06M), and Life insurance and pension funding ($4.59M).

The top services imported by Grenada in 2017 were Miscellaneous business, professional, and technical services ($86.9M), Sea transport ($42M), Financial services ($26.1M), Travel ($22.2M), and Air transport ($14.1M).

Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Grenada are Almonds in shell fresh or dried (40%) and Almonds,fresh or dried, shelled (40%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

*The tariffs applied to imports for Grenada are:
136: Most Favoured Nation duty rate treatement
154: Preferential tariff Agreement between Caribbean Community (CARICOM) member states
218: Preferential tariff for European Union countries

Economic Complexity

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Most Specialized Products by RCA Index

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Grenada has a high level of specialization in Nutmeg, mace and cardamons (2.72k), Other Paints (422), Wheat Flours (220), Non-fillet Fresh Fish (216), and Frozen Fruits and Nuts (165). Specialization is measured using RCA, an index that takes the ratio between Grenada observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Grenada according to the product complexity index (PCI) are Drawing, mathematical, length measuring instruments (1.61), Stainless steel in primary forms, semi-finish products (1.24), Copper nails, screws, bolts, pins, washers, etc (1.18), Pipe fittings, of iron or steel (1.1), and Parts for use with lifting, moving machinery (0.84). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Grenada according to the relatedness index, are Gold (0.078), Non-fillet Frozen Fish (0.075), Bananas (0.075), Coffee (0.072), and Perfume Plants (0.072). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Grenada is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

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This network shows the products most related to the production structure of Grenada. These are products that tend to be co-exported with the products that Grenada exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.