How much were imports and exports in 2021?
In 2021, goods imports on Bonaire, Saba and St Eustatius amounted to 292, 22 and 39 million US dollars, respectively. The value of goods exports from Bonaire was 10 million US dollars. For Saba and St Eustatius, exports stood at around 1 million US dollars in 2021.
| Year | Import value | Export value | Trade balance |
|---|---|---|---|
| 2017 | 212.8 | 10.9 | -201.9 |
| 2018 | 223.2 | 9.3 | -213.9 |
| 2019 | 252.6 | 12.0 | -240.6 |
| 2020 | 243.8 | 8.0 | -235.8 |
| 2021 | 291.5 | 9.7 | -281.8 |
Majority of goods imported
Since almost no manufacturing or production takes place on the islands, most goods need to be imported. This results in structural trade deficits. In 2021, Bonaire’s trade deficit was 282 million US dollars, one-fifth more than in the previous year. That year, the island’s trade deficit decreased for the first time in six years.
Trade deficit development
Bonaire’s trade deficit grew by 46 million US dollars relative to 2020. Most of this growth came from machinery and transport equipment (19 million US dollars), followed by food and live animals (10 million US dollars).
| Product group | 2021 | 2020 |
|---|---|---|
| Machinery and transport equipment | 77.0 | 58.2 |
| Food and live animals | 55.1 | 45.2 |
| Manufactured goods | 44.3 | 41.7 |
| Chemicals and related products | 27.6 | 25.2 |
| Beverages and tobacco | 22.9 | 19.8 |
| Other goods | 54.9 | 45.8 |
Saba’s trade deficit increased by 5 percent to 22 million US dollars in 2021. The trade deficit of St Eustatius decreased for the fourth year in a row. The island imported USD 38 million more in goods than it exported in 2021.
| Year | Saba | St Eustatius |
|---|---|---|
| 2017 | 17.0 | 52.3 |
| 2018 | 20.4 | 46.8 |
| 2019 | 20.8 | 44.0 |
| 2020 | 20.7 | 39.2 |
| 2021 | 21.7 | 37.6 |
On Bonaire, almost half of the year-on-year import growth (48 million US dollars) occurred in the fourth quarter of 2021. The 88 million US dollar import value in Q4 was the highest after measurements began in 2011. Furthermore, the year-on-year import growth on Bonaire continued in Q1 2022, with a 17-percent increase to a total of 77 million US dollars.
Saba’s goods imports amounted to 7 million US dollars in Q1 2022, resulting in a value that was almost a third higher year-on-year and the highest since Q3 2015. Following a drop in import value over 2021, St Eustatius also imported a fifth less in goods in Q1 2022. Imports amounted to 9 million US dollars in this quarter.
More information about international trade on the islands of the Caribbean Netherlands