CARIFORUM and UK EPA Study

Table 30: Total Services Exports by Mode of Supply (2005 – 2017)

Services Exports by Mode of Supply (2008 - 2017) - US$ Million

Country

Mode 1

Mode 2

Mode 3

Mode 4 Country Totals

5,503

Antigua and Barbuda

1 ,563

3 ,854

-

87

111,898 1 1,194

Bahamas Barbados

5 7,138

11,968

4 0,742

2 ,050

2 ,662

8 ,065 2 ,677 1 ,006

9

458

3,748 1,290

Belize

690 247

293

89 37 35 81

Dominica

-

5 5,943 2,257 2,516 4,263 2 3,597 2,015 4,376 1,446 3,277 1 6,395 249,718

Dominican Republic

7 ,458

47,713

195

577

Grenada Guyana

254

1 ,968

-

1 ,666

531

238

Haiti

714

3 ,549

-

-

Jamaica

3 ,916

19,114

0 1

567

St. Kitts and Nevis

310 361 323

1 ,664 3 ,962 1 ,075

40 53 48

Saint Lucia

- -

St. Vincent and the Grenadines

Suriname

1 ,744

641

767 149

125 280

Trinidad and Tobago CARIFORUM Total

1 0,711 89,757

5 ,254

113,040

42,394

4,527

Share of CARIFORUM Total

36%

45%

17%

2%

100%

Source: WTO Statistical Database and Author's Calculations.

The Bahamas (US$112 billion), the Dominican Republic (US$55.9 billion), Jamaica (US$24 billion), Trinidad and Tobago (US$16.4 billion) and Barbados (US$11.2 billion) were the top five global services exporters in CARIFORUM during the period 2008 to 2017. These exports were mainly conducted via Mode 1 (The Bahamas and Trinidad and Tobago), Mode 2 (the DR and Jamaica), and Mode 3 (The Bahamas). Therefore, the assessment of CARIFORUM’s services trade and investment activities by Mode of Supply, indicates that the CARIFORUM region is tremendously dependent on Mode 2 - consumption abroad for the export of services, accounting for the vast majority of the value of services traded by the region. This is no doubt due to the region’s corresponding high dependence on tourism exports, which is a largely arm’s length activity. Mode 1 also plays a very significant role in the services exported by the region, though this mode of supply is more pronounced in the non-tourist destinations regionally. This, however, was with the notable exception of The Bahamas, which, while a major regional tourism hub, conducted the majority of its trade via electronic commerce, followed by commercial establishment abroad (Mode 3), perhaps reflecting its role and importance as an offshore financial hub.

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