Dig Deeper, Wait Longer – Supply Chain issues will hurt Import-dependent territories like TCI

#TurksandCaicos, October 26, 2021 – After the devastating effects of the global pandemic, major economies are grappling with yet another global crisis: global supply chain disruption.  Manufacturing industries are running short of raw materials, Tech Company’s running out of parts and chips, while the supermarkets, food stores, and local retails are running out of stock.  But, the worst is yet to come as the pressure at the ports continues with no signs of easing quickly.

TCI is one of the countries in the Caribbean region likely to face the impact of the supply chain breakdown caused by the long-term effects of the global pandemic that sent most of the now operating companies to a sudden halt.

Being an island nation endowed with spectacular tourists attraction sites and fantastic beaches, the country depends largely on the blue economy and imports most of the products such as foodstuffs, cosmetics, automobiles, electronic, fabrics, furniture, fuel, equipment, building supplies and more, from abroad through its South Dock port.

However, the sea routes and major export economies of China and India are busier than ever before, facing unrelenting delays in loading and offloading the vast number of commercial container ships supplying the world’s markets.  The pressure at the ports has caused delays in shipment and freight hikes, resulting in an increased cost of imported products.  As such, TCI residents will have to dig deep into their pockets to pay more for imported products they primarily rely on.

While the crisis has hit highly populated nations such as the US and India hard, Caribbean countries with a small population such as the Turks and Caicos Islands may not feel the heat immediately.  But, with the nearing Christmas season, products ordered abroad will take longer to reach customers and at a pricier tag than they used to be in the past.

Additionally, on-demand products, gifts, toys, and more are likely to run out at stores if the supply chain crisis exacerbates ahead of the Christmas holiday due to panic buying and the skyrocketing demand for these items.