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2023
Product
Exports | Imports $58.3M | $652M201 of 226 |  190 of 226
2023
Per Capita Product
Exports | Imports $498 | $5.57k204 of 220 |  90 of 220

About

Overview In 2023 Grenada was the number 201 economy in the world in terms of total exports and the number 190 in total imports.

Exports The top exports of Grenada are Nutmeg, mace and cardamons ($7.43M), Non-fillet Fresh Fish ($6.41M), Wheat Flours ($3.09M), Frozen Fruits and Nuts ($2.95M), and Aqueous Paints ($2.86M), exporting mostly to United States ($13.8M), Antigua and Barbuda ($7.79M), Saint Vincent and the Grenadines ($4.67M), Dominica ($3.53M), and Trinidad and Tobago ($3.15M).

Imports The top imports of Grenada are Refined Petroleum ($98.5M), Cars ($22.4M), Poultry Meat ($18.5M), Recreational Boats ($17.3M), and Cement ($10.5M), importing mostly from United States ($238M), Trinidad and Tobago ($84.7M), Cayman Islands ($67.2M), China ($28.5M), and United Kingdom ($22.5M).

Latest Trends

Latest Trade

Flow
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Y-AXIS SCALE

The 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.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The 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.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2023)Nutmeg, mace and cardamons$7.43M
Top Destination (2023)United States$13.8M

In 2023, Grenada exported a total of $58.3M, making it the number 201 exporter in the world. During the last five reported years the exports of Grenada have changed by $6.6M from $51.7M in 2018 to $58.3M in 2023.

The most recent exports are led by Nutmeg, mace and cardamons ($7.43M), Non-fillet Fresh Fish ($6.41M), Wheat Flours ($3.09M), Frozen Fruits and Nuts ($2.95M), and Aqueous Paints ($2.86M). The most common destination for the exports of Grenada are United States ($13.8M), Antigua and Barbuda ($7.79M), Saint Vincent and the Grenadines ($4.67M), Dominica ($3.53M), and Trinidad and Tobago ($3.15M).

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Exports (2023)
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Destinations (2023)
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Market Growth

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Growth
Fastest Growing Export Markets (2022 - 2023)
Antigua and Barbuda$4.4M (+ 130%)
Saint Kitts and Nevis$2.69M (+ 1.91k%)
Trinidad and Tobago$2.17M (+ 221%)
Fastest Growing Import Markets (2022 - 2023)
United States$41.8M (+ 21.3%)
China$6.28M (+ 28.2%)
South Africa$6.24M (+ 77%)

Total Export Growth by Market (2022 - 2023)

Potential Exports

Potential Exports

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Service Trade

Service Trade

Grenada 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).

Service Exports (2017)

Service Imports (2017)

Economic Complexity

Most Specialized Products by RCA Index

Grenada has a high level of specialization in Nutmeg, mace and cardamons (2.65k), Other Paints (237), Wheat Flours (177), Frozen Fruits and Nuts (161), and Aqueous Paints (149). Specialization is measured using RCA, an index that takes the ratio between Grenada observed and expected exports in each product.

Export Opportunities by Relatedness

The top export opportunities for Grenada according to the relatedness index, were Recreational Boats (0.14), Refined Petroleum (0.14), Tropical Fruits (0.13), Recovered Paper (0.13), and Pasta (0.13). 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

The 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.

Relatedness Space

This network shows the products most related to the production structure of Grenada. These are products that tend to be co-exported with the products that Grenada exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2023)

Diversification Frontier

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Depth

The 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.

Diversification Frontier

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