Goat meat market in Caribbean

Earlier Report Observations

The Caribbean goat meat market volume grew from 12 661 t in 2018 to 16 967 t in 2020, driven by an expansion in domestic production from 11 219 t to 15 531 t. This upward trend reversed from 2021, with the market contracting to 14 761 t in 2022 as local output fell to 13 093 t.

Market volume stabilized at 14 841 t in 2023 despite a further drop in production to 12 836 t, as imports rose to 2 007 t. This shift was supported by increased global demand for goat meat and sharply higher world prices, which encouraged greater shipments to the region. By 2024, import volumes reached 2 875 t, reinforced by a 7% rise in Australian goat meat exports to the Caribbean in the first half of the year.

Production goat meat in Caribbean

In kind, 2017-2020, t

Top producers of goat meat, 2017-2020

World map of production of goat meat, 2017-2020

Caribbean goat meat production has increased for the second year in a row. In 2020, the region produced 15 531 tons of goat meat, up 2.0% from the previous year. Over the 2017-2020 period, production grew by 33.5%, with an average annual growth rate of 10.1%. The lowest production level was recorded in 2018 at 11 219 tons. That same year saw the largest decline of 3.5%, while 2019 experienced the biggest increase of 35.7%.

Annual dynamics of production in Caribbean in kind, 2017-2020, t

In value, 2017-2020, K $ US

Following two years of growth, Caribbean goat meat production declined in value terms. In 2020, the output was valued at 85 549 thousand US dollars, down 4.8% from 2019. Between 2017 and 2020, however, production value increased by 52.5%, representing an annualized growth rate of 15.1%. The peak value occurred in 2019 at 89 901 thousand US dollars, which also saw the largest increase of 52.0%.

Annual dynamics of production in Caribbean in value, 2017-2020, K $ US

Exports goat meat from Caribbean

Exports in kind, t

Export volumes showed significant fluctuations during this period. The highest export volume was recorded in 2018 at 53 tons, while the lowest was in 2020 at just 0.4 tons - representing a 128-fold difference. Caribbean's goat meat exports in 2020 declined by 98.9% compared to 2019. The largest increase occurred in 2018 with a remarkable 700.9% growth.

Annual dynamics of product's exports from Caribbean in kind, 2017-2020, t

From 2017 to 2020, the United States and Bunkers formed the core export markets for Caribbean goat meat in volume terms, together accounting for 13.6% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Caribbean in kind, 2017-2020

Exports in value, K $ US

Export values displayed irregular patterns, indicating a volatile market environment. There was a 123-fold difference between the peak value in 2018 (279 thousand US dollars) and the low in 2020 (2 thousand US dollars). In 2020, Caribbean's goat meat export value dropped by 99.0% year-over-year. The largest increase was recorded in 2018 with 775.3% growth.

Annual dynamics of product's exports from Caribbean in value, 2017-2020, K $ US

During 2017-2020, the United States (7.8% of export value), Bunkers (2.4%), and Germany (0.9%) led the list of buyers for Caribbean goat meat in value terms, collectively representing 11.1% of total export value.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Caribbean in value, 2017-2020

Imports goat meat to Caribbean

Imports in kind, t

Caribbean's goat meat imports declined for the third consecutive year. In 2020, imports reached 1 437 tons, representing a modest 2.6% decrease from the previous year. Over the 2017-2020 period, imports fell by 40.3%, with an average annual decline of 15.8%.

Annual dynamics of product's imports to Caribbean in kind, 2017-2020, t

From 2017 to 2020, Australia (61.8% of import volume), the United States (17.7%), and New Zealand (8.2%) remained the primary suppliers of goat meat to the Caribbean, together accounting for 87.8% of total import volume.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Caribbean in kind, 2017-2020

Imports in value, K $ US

In 2020, Caribbean's goat meat import value stood at 9 621 thousand US dollars, declining by 13.0% compared to the previous year. Over the 2017-2020 period, import value decreased by 34.1%, with an average annual decline of 13.0%. The lowest value was recorded in 2018 at 8 576 thousand US dollars, which also saw the largest decline of 41.2%. The biggest increase occurred in 2019 with 28.9% growth.

Annual dynamics of product's imports to Caribbean in value, 2017-2020, K $ US

Throughout 2017-2020, Australia dominated Caribbean's goat meat imports in value terms, accounting for 70.8% of total import value, while other markets held comparatively smaller shares.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Caribbean in value, 2017-2020