Enhancing India CARIFORUM Economic Relations and Prospects for Cooperation

Total Imports 2019 (US$)

Share in 2019 (%)

HS Code

Top 5 Import Items

Importer

8

27 Mineral fuels, mineral oils and products of their distillation

10 Cereals

7.9

Haiti

3,706.8

7

61 Articles of apparel and clothing accessories, knitted or crocheted

60 Knitted or crocheted fabrics 39 Plastics and articles thereof

4.9 4.6

Source: ITC Trademap; India Exim Bank Analysis

CARIFORUM’S Trade Partners

Top Export Destinations

USA was the top export destination for the CARIFORUM’s exports in 2020, with a massive share of 42.6 percent. The other major export destinations in 2020 were Switzerland (9.4 percent of total exports in 2020), Canada (5.2 percent), China (3.7 percent), and Spain (2.8 percent). The top five destinations accounted for over 60 percent of total exports from the region in 2020 (Figure 5) .

Figure 5: CARIFORUM’s Top Export Destinations, % Share 2020

Source: ITC Trademap; India Exim Bank Analysis

The following table (Table 6) presents the top exporting destinations for the top five countries of the CARIFORUM region viz, Dominican Republic, Trinidad and Tobago, Guyana, Suriname and The Bahamas.

International Trade Scenario of the CARIFORUM Countries

21