Grenada: Trade Profile

Foreign Trade in Figures

The country has an open economy, with foreign trade accounting for approximately 77% of its GDP (World Bank, latest available data). According to data from the Central Statistical Office, in 2024, the main import categories were machinery and transport equipment (21.1% of total imports), food (20.4%), mineral fuels (19.6%), manufactured goods (15%), and chemicals (7.5%). On the other hand, exports were led by food (41.7%, comprising wheat flour, nutmeg, mace and cardamons, and non-fillet fresh fish), beverages & tobacco (20.2%), machinery and transport equipment (17%), and chemicals (11.8%).

As per the lastest data available from OEC, in 2023, Grenada’s main export partners were the United States (34.8%), Antigua and Barbuda (19.7%), Saint Vincent and the Grenadines (11.8%), Dominica (8.9%), and Trinidad and Tobago (8%); whereas imports came chiefly from the United States (65.4%), Trinidad and Tobago (23.3%), Cayman Islands (18.5%), China (7.8%), and United Kingdom (6.2%). The country's trade policy aims at moving away from an agricultural economy to a service-based economy. The Government also seeks to reduce the manufacturing costs of goods to become more competitive. Imports destined for government institutions are free of customs duty. Customs duties are not very high, and trade barriers are limited. Grenada is a member of CARICOM, and as such, other member countries are given special treatment. The country also has agreements with Costa Rica, the Dominican Republic, Colombia, Venezuela, the European Community, and the UK.

According to the latest available data by WTO, Grenada exported a mere USD 30.7 million in goods in 2024, while it imported USD 462.9 million (-33.3% and -23.9% year-on-year, respectively). On the other hand, Grenada is a net exporter of services: the 2022 services exports amounted to USD 661 million (mostly thanks to the tourism sector) while imports stood at USD 300 billion (latest data available). Challenges include the country's dependence on key imports (oil products, foodstuffs, vehicles, medication, consumer goods, etc.) due to its relatively limited market.

To go further, check out our service Import controls and Export controls

To go further, check out our service Import-Export Flows

Main Services

Source: United Nations Statistics Division, Latest Available Data

List of tariffs and local taxes that apply to your product on our service Customs Duties

Trade Compliance

International Conventions

Member of the World Trade Organization (WTO)

International Economic Cooperation

Member of Caribbean Community (CARICOM)
Member of Free Trade Area of the Americas (FTAA)

Useful Resources

National customs website

National Organisation of Intellectual Property

You can contact the Corporate Affairs and Intellectual Property Registrar’s Office by Email.

 

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Latest Update: October 2025