Saint Lucia Foreign Trade

By | April 16, 2023

According to allcitypopulation, Saint Lucia is an island nation located in the Caribbean Sea, northeast of St. Vincent and the Grenadines and south of Martinique. It is part of the Windward Islands chain and is the second largest of the Lesser Antilles. The island covers a total area of 617 square kilometers (238 sq mi) and has a population of approximately 183,000 people as of 2019. According to Petwithsupplies, the capital city of Saint Lucia is Castries with a population of 22,200 (with suburbs, estimate 2014). Other major cities include Micoud, Vieux Fort, Soufrière.

The terrain on Saint Lucia consists mainly of mountains with some coastal lowlands. The highest point on the island is Mount Gimie at 950 meters (3,120 ft). The central mountainous region is surrounded by fertile valleys and rainforests that are home to many species of flora and fauna. There are many beaches around the coastlines, most notable being Vigie Beach in Castries which is known for its white sand and crystal clear waters.

Saint Lucia has a tropical climate with two distinct seasons; wet season from May to November and dry season from December to April. Temperatures average between 25-30°C (77-86°F) throughout the year with higher temperatures during the wet season due to increased humidity levels.

The economy of Saint Lucia is largely based on tourism, agriculture, light manufacturing, financial services, petroleum storage & transshipment activities, construction and fishing industries. Tourism is by far the largest sector in terms of GDP contribution with over 1 million visitors annually making it one of the most popular destinations in the Caribbean region for tourists looking for an idyllic tropical beach vacation experience or a romantic getaway. Agriculture also plays an important role in Saint Lucia’s economy as it produces sugarcane, bananas, coconuts, sweet potatoes, yams and other crops for domestic consumption as well as export markets such as Europe & North America.

Light manufacturing activities include food processing (mainly rum production), clothing & textile production as well as jewelry making which all contribute to GDP growth on a smaller scale compared to tourism & agriculture sectors but still provide employment opportunities for locals on Saint Lucia. Financial services such as banking & insurance are also becoming increasingly important components in Saint Lucia’s economy due to its status as an offshore financial center within the Caribbean region which provides tax incentives for international companies looking to set up operations there or use it as a base for international transactions or investments abroad.

Saint Lucia Bordering Countries

Foreign Trade of Saint Lucia

Saint Lucia is a small island nation located in the eastern Caribbean Sea, and has a population of around 183,000 people. It has an open economy that relies heavily on foreign trade and tourism. The country’s main export commodities include bananas, clothing, electronics, jewelry, rum and other agricultural products. Saint Lucia also exports services such as financial services and tourism. In terms of imports, the country relies heavily on food items such as wheat, rice, sugar and corn as well as petroleum products and machinery & equipment.

The majority of Saint Lucia’s foreign trade is conducted with its main trading partners within the Caribbean region such as Trinidad & Tobago and Barbados. However it also has significant trade links with the United States of America (USA) which is its largest trading partner accounting for over 20% of total exports in 2018. Other important export destinations include Canada (13%), the United Kingdom (UK) (11%) and Japan (7%).

In terms of imports, the USA is again Saint Lucia’s largest trading partner accounting for around 28% of total imports in 2018 followed by Trinidad & Tobago (17%) and China (14%). Other important sources of imports are Canada (7%), France (6%) and the UK (5%).

Saint Lucia is a member of several regional economic organizations including CARICOM – The Caribbean Community which facilitates regional integration by promoting economic development amongst its members through various initiatives such as free trade agreements between member states as well as preferential access to markets within Europe & North America through programs such as the European Union’s Everything But Arms initiative or Canada’s Least Developed Countries Tariff Elimination Program.

Furthermore Saint Lucia also benefits from preferential access to US markets through programs such as the Caribbean Basin Initiative which provide duty-free access to certain US markets for goods produced within certain countries in Central America & The Caribbean region including St Lucia. This helps to improve export competitiveness by reducing production costs due to reduced import duties on raw materials needed for production processes thus increasing potential profits from exports to US markets.

Major Trading Partners of Saint Lucia

The Caribbean island nation of Saint Lucia has a variety of trading partners, with the majority of its exports going to the United States and the United Kingdom. The main exports from Saint Lucia are bananas, coconut products, coconuts and limes. Other significant exports include spices, fish and seafood, clothing, electronics and building materials. The main imports to Saint Lucia are foodstuffs, fuel and machinery. The US is the island’s largest trading partner; accounting for around 70% of all imports into the country. The UK is also a major trading partner for Saint Lucia, with around 20% of total imports coming from this country. Other major trading partners include Canada, France and China. Canada is a major importer of agricultural products such as bananas while France is an important exporter of luxury goods such as perfumes and wines. China has become increasingly important in recent years as a source of manufactured goods such as electronics and clothing that are sold at competitive prices in local markets on Saint Lucia.

Major Imports and Exports of Saint Lucia

Saint Lucia imports a variety of goods, including foodstuffs, fuel, and machinery. Foodstuffs are the largest imports in terms of value, accounting for around 40% of all imports into the country. This includes items such as fruits and vegetables, dairy products, grains and cereals. Fuel is also a major import to Saint Lucia and accounts for around 20% of all imports. This includes petroleum products such as gasoline and diesel fuel as well as propane gas which is used for cooking and heating. Machinery is another important import to the island nation, accounting for around 10% of total imports. This includes industrial equipment such as tractors, generators, pumps and other heavy machinery used in construction.

Saint Lucia’s main exports are bananas, coconut products (including copra), coconuts, limes and spices. Bananas account for around 45% of all exports from the country while coconut products make up around 20%. Fish and seafood also make up a significant portion of Saint Lucian exports at 15%. Clothing is another important export with electronics (such as computers) and building materials (such as cement) making up the remainder of exports from the island nation. The United States is by far the largest trading partner for Saint Lucia; accounting for over 70% of all exports from the country. The United Kingdom is next with about 20% followed by Canada at 7%, France at 3%, China at 2%, and other countries making up the remainder.