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This paper measures and comments on the import elasticity of goods from 1974 until 1992, during which, both growth and recessionary periods occurred. It examines the movement in the various import elasticities at various stages during the growth cycle by first considering the movement of imports during the periods of recession and then the movement of imports during periods of growth. (Prepared for presentation at the Research Department, Central Bank of Barbados Annual Review Seminar July 14-15, 1995)