In general, Barbados is receptive to Brazilian products. Brazil was the 10th largest supplier of goods to Barbados in 2003, with bilateral trade amounting to approximately US$17.5 million in 2003. However, Brazilian imports accounted for only 1.5% of Barbados’ total imports.
Brazilian exports to Barbados are diversified, even though raw materials and semi-manufactured products have always figured as important items. The main products exported to Barbados are those of higher aggregated value such as tractors and buses (Marco Polo buses constitute almost the entire Barbadian public fleet), as well as automobile parts, followed by timber and timber products, electrical and construction materials, paper and food preparations.
Barbados imports most of its food and consumer products. Imports for the year 2003 totaled approximately US$1.2 billion. Barbados plays a growing role within the Caribbean Community (CARICOM), which, on formation of the Caribbean Single Market and Economy (CSME) would represent a market of 50 million consumers, with a GDP of US$27 billion and per capita income of US$5,000.00. CARICOM trade with Brazil surpassed US$750 million in 2003 – with Brazilian exports totaling more than US$700 million.
Companies can consult the BrazilTradeNet, which lists trade and investment opportunities, explains the Brazilian legal system for commercial investment and financial matters, and puts them in contact with a large group of registered Brazilian companies who can be clients or partners.
