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Steady improvement in rum exports

Steady improvement in rum exports

Posted by Shanelle Weir on March 05, 2014

Provincial data indicates that rum exports from Barbados continue to blaze the trail. Estimates by the Central Bank of Barbados said that last year the value of rum exports totaled $81 million, slightly lower than the $82.4 million the previous year.

These numbers marked a significant improvement on the $71.0 million in rum exports in 2011. There has been a steady growth in rum exports from $44.3 million in 2006 to $66.8 million by 2010, and the provisional figure of $81.4 million last year. 

Rum from Barbados is sold in a number of regional and international markets, with four large manufacturers accounting for that output and exports. The figures show that only chemicals ($88 million) fetched more as an export group than rum during 2013. Other principal export commodities are Food, Electronics and Crude.

Some years ago rum surpassed sugar to be the leading export commodity from Barbados. From $44 million in 2006, sugar exports fetched a miserly $15 million last year, according to the CBB data. Just recently, while praising producers, Minister of Industry, International Business, Commerce and Small Business Donville Inniss said his Ministry intends pushing for a reduced import bill for the spirit.

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