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Caribbean Community

Exports (2023)$40.2B
Imports (2023)$49.6B
Main Exporter (2023)Guyana $17.4B
Main Importer (2023)Bahamas$8.69B
Internal Trade (2023)13.9%of total trade

About

Overview CARICOM (Caribbean Community) is an International Organization composed by Guyana, Trinidad and Tobago, Bahamas, Suriname, Jamaica, Haiti, Cayman Islands, Barbados, Belize, British Virgin Islands, Bermuda, Antigua and Barbuda, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Grenada, Dominica, Turks and Caicos Islands, Anguilla, and Montserrat. In 2023, CARICOM exported $40.2B (0.18% of global exports) and imported $49.6B (0.22% of global imports). Its largest exporter, Guyana exported $17.4B, which corresponds to 43.4% of the total exports. On the other hand, the largest importer, Bahamas, imported $8.69B, which is 17.5% of the total imports of Caribbean Community.

Trade In 2023, CARICOM's most exported products were Crude Petroleum Oils ($15.1B), Liquefied Natural Gas ($3.82B), Unwrought Non-Monetary Gold ($2.75B), Bituminous Petroleum Distillates (Excl. Crude) ($2.65B), and Methyl alcohol ($1.75B). The same year, the most imported products were Bituminous Petroleum Distillates (Excl. Crude) ($8.97B), Motorboats, other than outboard motorboats ($2.25B), Cargo containers ($1.42B), Cargo Vessels (Excl. Tankers & Refrigerated) ($1.01B), and Fixed-Wing Aircraft (>15,000 kg Unladen Weight) ($888M).

Partners In 2023, CARICOM's exports went primarly to United States ($9.76B), Netherlands ($2.5B), Trinidad and Tobago ($2B), Germany ($1.74B), and Singapore ($1.73B). The same year, CARICOM's imported primarily from United States ($18.9B), China ($4.31B), Germany ($2.71B), Guyana ($2.47B), and Trinidad and Tobago ($1.7B).

Historical Data

Organization Composition

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Flow
Y-AXIS SCALE
Value

The following section shows the trade patterns over time for all the countries that comprise the organization, using historical dataset.

Yearly Exports of CARICOM

Internal Trade

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Depth
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Internal Trade includes all trade between the countries that comprise this organization.

In 2023, the top internal exports of CARICOM were Railway Cargo Containers ($1.27B), Refined Petroleum ($950M), Excavation Machinery ($328M), Crude Petroleum ($265M), and Passenger and Cargo Ships ($236M).

The same year, the principal destinations of internal exports were Trinidad and Tobago ($2B), Guyana ($1.17B), Barbados ($684M), Jamaica ($451M), and Suriname ($441M).

Internal Exports (2021)
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Internal Destinations (2021)
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External Trade

Flow
Depth

External trade includes all world trade excluding the countries that comprise this organization.

In 2023, the top external exports of CARICOM were United States ($9.76B), Netherlands ($2.5B), Germany ($1.74B), Singapore ($1.73B), and Brazil ($1.47B).

The same year, the principal destinations of external exports were Crude Petroleum ($14.8B), Petroleum Gas ($3.83B), Gold ($2.75B), Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($1.75B), and Refined Petroleum ($1.71B).

External Exports (2021)
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External Destinations (2021)
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Total Trade

Flow
Color
Depth
Top Export (2023)Crude Petroleum$15.1B
Top Destination (2023)United States$9.76B

In 2023, CARICOM exported a total of $40.2B. During the last five reported years the exports of CARICOM have changed by $13.1B from $27.1B in 2018 to $40.2B in 2023.

The most recent exports are led by Crude Petroleum ($15.1B), Petroleum Gas ($3.93B), Gold ($2.75B), Refined Petroleum ($2.65B), and Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($1.75B). The most common destination for the exports of CARICOM are United States ($9.76B), Netherlands ($2.5B), Trinidad and Tobago ($2B), Germany ($1.74B), and Singapore ($1.73B).

Exports (2021)
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Destinations (2021)
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Largest Export by Country

Indicator

The following visualization shows the principal export per country, the product which has grown the most over the past 5 years or the product in which the country has a higher level of specialization, measured by the RCA Index.

Biggest export by country (2021)

Trade between organizations

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Depth

This visualization show trade between international organizations. The default selection shows the trade with the rest of the world.

Exports (2021)

Destinations (2021)

Economic Complexity

Complexity and Country Indicators

Indicator

This visualization compares the Economic Complexity Index (ECI) with different indicators about country development such as GDP per capita or Inflation. For more information about ECI, check the Methods page.

In 2023, the countries with higher complexity that belong to Caribbean Community were Jamaica (-0.18).

On the other hand, the countries with higher GDP per capita were Bermuda ($126k), Cayman Islands ($97.7k), Bahamas ($35.9k), Turks and Caicos Islands ($30.3k), and Barbados ($23.8k).

Finally, the biggest exporters of CARICOM were Guyana ($17.4B), Trinidad and Tobago ($11.7B), Bahamas ($3.01B), Suriname ($2.42B), and Jamaica ($1.89B).

GDP per capita v/s ECI for countries that comprise Caribbean Community (2023)

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