News Americas, NEW YORK, NY, Fri. Mar. 1, 2013: When it comes to American exports, the Caribbean is undoubtedly a big importer, with the U.S. racking up billions in sales to this region just last year alone.
A whopping total of over 22 billion or $22,838,950,392 to be exact!
Most of the buy is for Petroleum and coal products – a total of $5,754,311. But a lot is also spent on importing food in the Caribbean as well as chemicals.
In 2012 alone, the Caribbean food imports from the U.S. totaled $2,413,127,564. Between 2005 and 2012, the Caribbean, once an agricultural haven and “food basket,” imported over $13 billion in food from the U.S.
Meanwhile, $1,638,718,242 was spent on chemical imports. Computers and machinery also accounted for a significant portion of the $22 billion price tag with $1,413,167,100 spent on computer and electronic imports last year and $1,267,276,226 on machinery. Another $1,036,486,534 was spent on transportation equipment.
The U.S. by contrast, imported $16,415,244,280 in products from the Caribbean last year, with the majority – over $6 billion, being petroleum and coal product and oil and gas. Apparel manufacturing and primary metals topped the $2 billion mark. Food and beverage manufacturers did not fair as well, coming in at over $400 and $300 million, respectively.
It was lower for those US purchases made under the Caribbean Basin Trade Partnership Act, (CBTPA), with food manufacturers selling just over $115 million. Imports on fish – fresh, chilled/frozen & other marine products – fared a bit better at $176,557,044.