Browse Data and Analysis

Caribbean Basin > Aruba + Barbados + Cayman Islands + Curacao + Dominca + Grenada + Guyana + Saint Kitts and Nevis + Saint Vincent and the Grenadines + Saint Lucia + Trinidad and Tobago

In 2024, Argentina's dairy production faced significant challenges, primarily due to severe weather and economic issues which led to a projected 7 percent decline in milk output, estimated at 10,708 metric tons (MT).

Colombia is the largest South American market for U.S. agricultural products and the seventh-largest market for U.S. food and beverage exports globally. Since the U.S. – Colombia Trade Promotion Agreement (CTPA) was implemented in 2012, U.S. agricultural exports have grown by more than 235 percent to a record $3.7 billion in 2023.

Due to the severe drought, Post forecasts a slight decrease in dairy output, estimating a decline of just over one percent to 11,441,000 MT in volume by the end of 2023 compared to 2022. Projections for 2024 are complex as several factors could lead to a significant drop in production, particularly during the first half of the year.

2022 Argentine dairy production is projected at the same level with respect to 2021 or with a drop of less than one percent year-on-year to 11.495,000 MT, due to abnormally dry and warm weather during the first half of the year which is expected to continue until the end of the year. Post forecasts Whole Milk Powder (WMP) production to rise to 245,000 MT in a recessionary domestic market with stable production compared to 2021, which would result in a higher export balance.

The prevailing extraordinary factors make it difficult to estimate exports for the rest of the year and the coming year. Other factors have been added to the recurrent volatility of the international dairy market.

Caribbean imports of consumer-oriented products shrunk from $2.3 billion in 2019 to $2.1 billion in 2020 as a result of the COVID-19 pandemic, yet Caribbean retail grocery sales grew by an estimated 6 percent during the same period.

On January, 6 the Central Bank of Argentina announced financing restrictions on importers of luxury goods, including but not limited to, champagne, whisky, liqueurs and other spirits...

On Wednesday, March 4, 2020 the Government of Argentina announced adjustments to its export tax regime.

The Cayman Islands tourism industry has experienced tremendous growth during the past several years.

The Bahamas is the second largest market for U.S. consumer-oriented products in the Caribbean.

U.S. exports of consumer-oriented products to Aruba reached an all-time high of $74 million in 2016 and are on pace to reach another record level in 2017.