Exports on the Increase
Certified exports from Barbados are on the rise, and the Minister responsible for Export Barbados says further growth is on the way.
This disclosure came during the debate in Parliament on Thursday, March 16, from Minister of Industry, Innovation, Science and Technology, Davidson Ishmael, as he alluded to the contribution that exports have made to the economy. The Minister said that as of December 2022, certified and domestic exports for 2022 grew by 11.3 and 12.3 percent, respectively, over the previous year.
Minister Ishmael contended that these increases prove that the economy has been growing.
“There is the growth Mr. Speaker 11.3 and 12 percent growth in one year in our exports. The results speak for themselves,” he insisted.
The Minister went further, noting that certified exports recorded between April 2022 and February of this year were slightly higher, standing at 13.1 percent. This, he revealed, equated to USD 165 million earned.
“What does that mean in real terms, Mr. Speaker? That means more of our people are exporting rum, that means more of our people are exporting sweetened biscuits. That means more of our people are exporting crude oil. That means more of our people are exporting cement. These are the things that we are exporting from our country on a daily basis and are earning this country foreign exchange. This country is earning its own way, it’s not borrowing its own way, it is earning its own way,” he maintained.