Grenada
2021 Product Exports | Imports: $29.9M | $462M, 208 of 226 | 193 of 226
2021 Per Capita Product Exports | Imports: $265 | $4.09k, 145 of 219 | 95 of 219
Overview In 2021 Grenada was the number 208 economy in the world in terms of total exports and the number 193 in total imports.
Exports The top exports of Grenada are Nutmeg, mace and cardamons ($5.25M), Non-fillet Fresh Fish ($2.99M), Cocoa Beans ($2.24M), Other Fruits ($2.03M), and Frozen Fruits and Nuts ($1.79M), exporting mostly to United States ($8.95M), Saint Vincent and the Grenadines ($3.48M), France ($2.08M), Germany ($1.61M), and Trinidad and Tobago ($1.59M).
Imports The top imports of Grenada are Refined Petroleum ($75.8M), Poultry Meat ($12.7M), Cars ($9.03M), Other Edible Preparations ($7.52M), and Delivery Trucks ($6.99M), importing mostly from United States ($160M), Trinidad and Tobago ($76.9M), Cayman Islands ($38M), China ($21.6M), and United Kingdom ($17.9M).
Latest Trends
#permalink to sectionLatest Trade
#permalink to sectionThe following section uses the most recent trade data from partners of Grenada.
Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Latest Data
#permalink to sectionThe data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Historical Data
#permalink to sectionYearly Trade
#permalink to sectionTop Export (2021): Nutmeg, mace and cardamons, $5.25M
Top Destination (2021): United States, $8.95M
In 2021, Grenada exported a total of $29.9M, making it the number 208 exporter in the world. During the last five reported years the exports of Grenada have changed by -$12.2M from $42.2M in 2016 to $29.9M in 2021.
The most recent exports are led by Nutmeg, mace and cardamons ($5.25M), Non-fillet Fresh Fish ($2.99M), Cocoa Beans ($2.24M), Other Fruits ($2.03M), and Frozen Fruits and Nuts ($1.79M). The most common destination for the exports of Grenada are United States ($8.95M), Saint Vincent and the Grenadines ($3.48M), France ($2.08M), Germany ($1.61M), and Trinidad and Tobago ($1.59M).
Market Growth
#permalink to sectionFastest Growing Export Markets (2020 - 2021)
- Saint Vincent and the Grenadines, $1.56M (+ 80.7%)
- France, $925k (+ 80%)
- United States, $907k (+ 11.3%)
Fastest Growing Import Markets (2020 - 2021)
- United States, $36.1M (+ 29.3%)
- Cayman Islands, $13.5M (+ 54.9%)
- Finland, $4.8M (+ 2.36k%)
Service Trade
#permalink to sectionService Trade
#permalink to sectionGrenada 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).
Economic Complexity
#permalink to sectionMost Specialized Products by RCA Index
#permalink to sectionGrenada has a high level of specialization in Nutmeg, mace and cardamons (2.38k), Other Paints (343), Sugar Preserved Foods (255), Other Fermented Beverages (222), and Scrap Lead (204). 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
#permalink to sectionThe highest complexity exports of Grenada according to the product complexity index (PCI) are Instruments, apparatus for measuring, checking electrical quantities not meters of heading no.... (1.78), Screws, bolts, nuts, coach screws, screw hooks, rivets, cotters, cotter-pins, washers (including... (1.66), Tools, hand; hand-operated spanners and wrenches (including torque meter wrenches but not... (1.63), Fork-lift and other works trucks; fitted with lifting or handling equipment (1.51), and Tools, hand; (including glaziers' diamonds) n.e.c.; blow lamps; vices, clamps etc, other... (1.48). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
Export Opportunities by Relatedness
#permalink to sectionThe top export opportunities for Grenada according to the relatedness index, were Collector's Items (0.13), Bananas (0.13), Tropical Fruits (0.13), Scrap Iron (0.13), and Gold (0.12). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Grenada is not specialized in.
Product Space
#permalink to sectionThe 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.
Diversification Frontier
#permalink to sectionThe 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.
