CE- Annual Results Report 2023 FINAL

CARIBBEAN SMEs: PIVOTING TO GREEN AND DIGITAL FOR A SUSTAINABLE FUTURE Enhancing Resilience and Competitiveness in the Age of Climate Change and Technological Disruption

Caribbean islands are facing unprecedented challenges. In this context, SMEs play a critical role in driving economic growth and creating jobs. However, traditional business models are no longer enough. To thrive in the face of these headwinds, Caribbean MSMEs must pivot to green and digital solutions. Caribbean Export has long been dedicated to supporting private sector firms in their transition from national to regional and international businesses, viewing exports of goods and services as a strategic avenue for achieving this goal. Export activity not only fosters increased economic growth and development across the Caribbean but also contributes to job

creation, enhanced productivity, and improved trade balances. According to the International Trade Centre’s Trade Map, the CARIFORUM region experienced a notable 30.9% increase in exports since 2021, totalling US $40.8 billion in merchandise trade in 2021. Noteworthy trading partners include the United Kingdom, United States of America, Canada, and the Netherlands. This post-pandemic data underscores the region’s dynamic and resilient private sector, highlighting the critical importance of ongoing development efforts for sustainable growth in the Caribbean.

CREATING A BOLD NEW CARIBBEAN | RESULTS REPORT 2024 | 21