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- Trade plays a crucial role in the Caribbean economy12. Key points include:
- Strong regional and international trade relationships have benefited Caribbean nations.
- Small physical size of most islands necessitates trade for goods.
- CARICOM (Caribbean Community) exports and imports a significant amount, with Guyana being a major exporter and the Bahamas a major importer3.
- Trade contributes to employment and poverty reduction, but also makes Caribbean economies vulnerable to external shocks2.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Caribbean economies have benefited tremendously from strong regional and international trade relationships. The small physical size of most islands has made it virtually impossible for any Caribbean nation to produce all of the goods that its citizens and firms need on its own.www.investopedia.com/articles/investing/082015/3 …Trade in the Caribbean thus makes an essential contribution to increasing employment and reducing poverty by supporting growth. At the same time, the high dependence on trade also makes Caribbean economies vulnerable to external shocks.documents.worldbank.org/curated/en/7380614679…In 2022, CARICOM exported $43.7B (0.18% of global exports) and imported $47.1B (0.2% of global imports). Its largest exporter, Guyana exported $18.5B, which corresponds to 42.3% of the total exports. On the other hand, the largest importer, Bahamas, imported $8.55B, which is 18.1% of the total imports of Caribbean Community.oec.world/en/profile/international_organization/cari… Caribbean Overview: Development news, research, data | World …
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