AS Bermuda's rentals market suffers the effects of international businesses leaving the island or laying off expatriate employees, one industry is already profiting: the exports sector.

One of the island's top freight companies is reporting an increase in goods leaving Bermuda as foreign workers pack up their homes and send their furniture abroad.

There has also been a significant decrease in imports, with Bermuda Container Line reporting a drop in the number of containers sent here from abroad.

While "business is certainly not booming" at local freight outfit Best Shipping, co-founder Judith Hagen has noticed an increase in exports compared to this time last year as guest workers – many from the troubled (re)insurance sector – start leaving the island.

"We have had a lot of exports; they have increased over last year," Ms Hagen told the Mid-Ocean News this week.

"As long as we have the insurance companies leaving, the export side of the business will continue to increase. It'll only stop when the office buildings are empty."

Toby Kempe, president of Mill Creek-based freight firm Bermuda Forwarders, also reported a "busier than normal" January, but added that he has yet to see a mass exodus.

"There have been cutbacks, but the people leaving are not at the higher end," he said.

"Quite a few leaving are the ones who'd leave with a suitcase. It's easier for companies to cut back on those people. I think there are more people at the lower end going – the ones who didn't have a big allowance for moving.

"We've been busier than normal for January, but people generally move in the summer when kids are out of school."

While Bermuda Container Line's CEO Geoffrey Frith did not have any data available for the freight company's exports service, he confirmed a "downturn" in goods being delivered to the island by container from overseas.

"Our primary concern is cargo coming in – that's our bread and butter," he said.

"There has certainly been a downturn in the volume of cargo coming in. As far as economic activity in Bermuda in terms of cargo volume is concerned, imports are down. There are no two ways about it."

Indeed, figures released by BCL last week show about a nine per cent drop in imports from mid-October 2008 through mid-January 2009 compared to the year before. This marked decrease represents about 600 fewer containers brought in on BCL ships.

Bermuda Forwarders' Mr. Kempe explained that the drop in imports could be attributed to the island's dwindling tourism figures, as well as a slowdown in the construction sector.

"All freight forwarders are slower on the inbound side," he said.

"With tourism down – and local spending down – retail is suffering, so retailers are bringing less in.

"The same goes for food companies; one thing leads to another. The construction sites are easing up, with a number of projects on hold. There is still stuff coming in, but it's slow."

Best Shipping's Ms Hagen said that the imports side of her business remained relatively stable though "a little slower" than usual.

"Import is pretty much the same if not a little slower, with fewer people bringing stuff in for businesses," she said.

Ms Hagen added that January is generally a quieter month than the rest at Best Shipping, making it difficult to judge trends.

However, "on the whole, export has maintained and increased a small amount", she said.