By RASHAD ROLLE

Tribune News Editor

rrolle@tribunemedia.net

THE Bahamas experienced a 25 percent rise in imports during the second quarter of 2024, while exports fell by 13 percent, according to newly released data from the Bahamas National Statistical Institute.

Imports surged to $1.37 billion, driven by a marked increase in machinery and transport equipment purchases, which accounted for nearly a quarter of all imports, totalling $325m. Mineral fuels and lubricants followed closely, comprising 22 percent of imports at $299m.

The uptick in imports also extended to key categories such as food and live animals, manufactured goods, and miscellaneous manufactured articles, which collectively made up 39 percent of the country’s imports, valued at $530 million.

However, the report also revealed a decline in exports, totalling $221m, down from last year’s period. Machinery and transport equipment fell by 13 percent to $90m, while manufactured goods and mineral fuels, which represent a quarter and nine percent of exports respectively, also saw declines. The drop was most pronounced in the export of animal and vegetable oils and fats, mineral fuels, and crude minerals, which plummeted by 50 percent, 37 percent, and 34 percent, respectively.