The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
In 2020, Micronesia exported a total of $122M, making it the number 187 exporter in the world. During the last five reported years the exports of Micronesia have changed by $99.3M from $22.6M in 2015 to $122M in 2020.
In 2014, Micronesia exported $38.1M worth of services. The top services exported by Micronesia in 2014 were Personal travel ($25.3M), Government services, n.i.e. ($4.68M), Air transport ($2.33M), Miscellaneous business, professional, and technical services ($2.13M), and Sea transport ($2.11M).
The top services imported by Micronesia in 2014 were Sea transport ($25.2M), Air transport ($16.7M), Personal travel ($10.3M), Construction in the compiling economy ($9.65M), and Miscellaneous business, professional, and technical services ($5.9M).
Micronesia has a high level of specialization in Non-fillet Frozen Fish (692), Non-fillet Fresh Fish (11.4), Fish Fillets (5.9), Perfumes (5.26), and Basketwork (4.47). Specialization is measured using RCA, an index that takes the ratio between Micronesia observed and expected exports in each product.
The highest complexity exports of Micronesia according to the product complexity index (PCI) are Perfumes (0.022), Live Fish (-0.77), Scrap Aluminium (-0.85), Fish Fillets (-1.23), and Non-fillet Fresh Fish (-1.33). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Micronesia according to the relatedness index, are Crustaceans (0.023), Gold (0.019), Tropical Fruits (0.019), Molluscs (0.019), and Scrap Copper (0.018). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Micronesia is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.
This network shows the products most related to the production structure of Micronesia. These are products that tend to be co-exported with the products that Micronesia exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities.
Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.