Exploring Antigua And Barbuda's Key Exports

Antigua and Barbuda's economy is service-based, with tourism and government services being the key sources of employment and income. In 2022, the country was the world's 212th largest exporter of goods and 123rd largest exporter of commercial services. The country's exports include refined petroleum, passenger and cargo ships, gas turbines, soybean meal, and hard liquor. In 2023, the value of merchandise exports from Antigua and Barbuda totalled $30 million, an increase of 39% from 2022. The country's top export destinations include Suriname, Poland, Germany, the United Kingdom, and Barbados.

Refined petroleum

Antigua and Barbuda's exports of refined petroleum have fluctuated over the years. In 2019, the country exported $4,482.20 thousand worth of petroleum oils and other preparations, excluding crude oil. In 2023, petroleum oils and oils from bituminous minerals, excluding crude, were the second-largest export commodity, accounting for 25% of total exports, or $7.91 million.

The country's exports of refined petroleum contribute significantly to its economy, which is largely service-based, with tourism and government services being the key sources of income and employment. The export of refined petroleum and other commodities is an important part of Antigua and Barbuda's economic activities, along with the thriving tourism sector.

In addition to refined petroleum, Antigua and Barbuda also has a range of other exports, including food and live animals, machinery, transport equipment, manufactures, chemicals, and oil. The country's exports play a crucial role in its trade relations and economic growth, with a total export value of $199 million in 2022, making it the 188th largest exporter of goods in the world.

Passenger and cargo ships

Antigua and Barbuda's exports of passenger and cargo ships are a significant part of its economy. In 2022, the country exported $64.8 million worth of passenger and cargo ships, making it one of the country's top five exports. This puts Antigua and Barbuda in a strong position in the global market for these vessels.

The country's expertise in this field is further highlighted by its ranking of 107 in the Product Complexity Index for passenger and cargo ships. This indicates that Antigua and Barbuda has a high level of knowledge and specialisation in the production and export of these ships.

The export of passenger and cargo ships is a crucial aspect of Antigua and Barbuda's trade, contributing significantly to its economic growth and development. The country has established itself as a reliable exporter in this sector, attracting international recognition and partnerships.

Latin American Cargo, for example, has been providing ocean freight services to Antigua and Barbuda for many years. They offer a range of shipping methods, including door-to-port, port-to-port, and door-to-door delivery, catering to diverse client needs. Their services extend to specialised cargo, such as humanitarian aid supplies, hazardous materials, and oversized shipments.

Additionally, the Barbuda Express ferry company, operating since 2004, provides transportation for both passengers and large cargo between the twin islands. Their fleet includes the Barbuda Express catamaran and two monohulls, the Typhoon Express and Leeward Express. These vessels offer a safe and comfortable journey, with captains closely monitoring weather conditions to ensure the safety of all passengers and crew.

Antigua and Barbuda's exports of passenger and cargo ships are a testament to the country's maritime capabilities and contribute significantly to its economic landscape.

Seafood exports

The country's main fishing waters are located near shore or between Antigua and Barbuda, and shrimp and lobster farms are also in operation. In addition, the Smithsonian Institution operates a Caribbean king crab farming facility for the local market. The government has been encouraging modern fishing methods and supporting the mechanization and construction of new boats.

In 2000, fish landings were recorded at 1,481 tons, while the lobster catch was 42 tons. Exports of fish commodities in the same year were valued at $1.5 million. The United States is a significant market for the export of lobster from Antigua and Barbuda, with some fish also being exported to Guadeloupe and Martinique.

The country's annual per capita fish consumption is 46 kg, the highest in the Caribbean. This reflects the importance of seafood in the local economy and the preference for fish as a source of protein.

Agricultural products

Antigua and Barbuda's agricultural production is mainly for the domestic market. The sector is constrained by limited water supply and labour shortages, with many workers lured by higher wages in the tourism and construction industries.

Some 30% of the land on Antigua is under crops or potentially arable, with 18% in use. Sea-island cotton is a profitable export crop. A modest amount of sugar is harvested each year, and there are plans to produce ethanol from sugarcane. Vegetables, including beans, carrots, cabbage, cucumbers, plantains, squash, tomatoes, and yams, are grown mostly on small family plots for local markets. Over the past 30 years, agriculture's contribution to the GDP has fallen from over 40% to 12%.

The decline in the sugar industry left 60% of the country's 66,000 acres of land under government control, and the Ministry of Agriculture is encouraging self-sufficiency in certain foods to curtail the need to import food, which accounts for about 25% by value of all imports.

In 2004, livestock estimates counted 14,300 head of cattle, 19,000 sheep, and 36,000 goats, with some 5,700 hogs in the same year. Most livestock is owned by individual households. Milk production in 2004 was an estimated 5,350 tons. There is also a growing poultry industry.

Most fishing is for local consumption, although there is a growing export of the lobster catch to the United States and of some fish to Guadeloupe and Martinique. Exports of fish commodities in 2000 were valued at US$1.5 million.

Export assembly products

Antigua and Barbuda's economy is service-based, with tourism and government services being the primary sources of income and employment. The country's exports include refined petroleum, passenger and cargo ships, gas turbines, soybean meal, and hard liquor. In 2022, the country's exports were valued at $199 million, with the top export destinations being Suriname, Poland, Germany, the United Kingdom, and Barbados.

The country also has a manufacturing sector that focuses on enclave-type assembly for export, with major products including bedding, handicrafts, and electronic components. Assembly products are a significant part of the country's exports, contributing to the economy's growth. Here are some details about the assembly products exported from Antigua and Barbuda:

• Bedding: The manufacturing sector in Antigua and Barbuda produces bedding products for export. This includes items such as sheets, blankets, pillows, and other bedding accessories. These products are often made using local materials and assembled in factories for export to international markets.
• Handicrafts: The country has a tradition of creating handicrafts, which are also exported. These may include handmade items such as woven baskets, carved wooden artefacts, pottery, and other artisanal products. These handicrafts are often unique to the cultural heritage of Antigua and Barbuda, making them attractive to international buyers.
• Electronic Components: Antigua and Barbuda assembles and exports electronic components. This includes items such as computer parts, electrical appliances, and other electronic goods. The country has developed capabilities in this sector, leveraging its manufacturing expertise to produce and export these products globally.
• Garments and Textiles: The country's industrial parks, such as the one in the Coolidge Area, produce garments and textiles for export. This includes clothing, apparel, and other textile products that are manufactured and assembled locally before being shipped to international markets.
• Furniture: Furniture assembly is another important aspect of the country's export assembly products. Antigua and Barbuda manufactures and assembles furniture items such as tables, chairs, cabinets, and other household or commercial furniture. These products are then exported to various destinations.
• Machinery and Equipment: In addition to consumer goods, Antigua and Barbuda also assembles machinery and equipment for export. This includes items such as agricultural machinery, industrial equipment, and other specialised machinery that are put together in the country's manufacturing facilities and then shipped to international buyers.

The assembly products exported from Antigua and Barbuda contribute significantly to the country's economy, providing employment opportunities and generating foreign exchange. By focusing on these products, the country diversifies its exports and strengthens its position in the global market.

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