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).
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.