Marshall Islands2020 Product Exports | Imports: $747M | $11.9B, 162 of 226 | 89 of 226
2020 Per Capita Product Exports | Imports: $12.6k | $202k, 16 of 219 | 2 of 219
2018 Service Exports | Imports : $26.7M | $55.8M, 137 of 138 | 138 of 138
Overview In 2020 Marshall Islands was the number 162 economy in the world in terms of total exports and the number 89 in total imports.
Exports The top exports of Marshall Islands are Passenger and Cargo Ships ($314M), Recreational Boats ($237M), Non-fillet Frozen Fish ($54M), Scrap Vessels ($23M), and Iron Structures ($19.3M), exporting mostly to Netherlands ($212M), Denmark ($136M), Poland ($71.7M), Indonesia ($48.6M), and Thailand ($39.6M).
Imports The top imports of Marshall Islands are Passenger and Cargo Ships ($8.58B), Recreational Boats ($1.05B), Refined Petroleum ($896M), Boat Propellers ($256M), and Centrifuges ($251M), importing mostly from South Korea ($4.84B), China ($3.28B), Japan ($1.29B), Germany ($1.04B), and Turkey ($305M).
In 2020, Marshall Islands was the world's biggest importer of Passenger and Cargo Ships ($8.58B)
The following section uses the most recent trade data from partners of Marshall Islands.
Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Data is presented based on data availability. Only countries using the Harmonic System (HS) are selected. Every source is shown using their own latest twelve months of data.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Top Export (2020): Passenger and Cargo Ships, $314M
Top Destination (2020): Netherlands, $4.84B
In 2020, Marshall Islands exported a total of $747M, making it the number 162 exporter in the world. During the last five reported years the exports of Marshall Islands have changed by $180M from $567M in 2015 to $747M in 2020.
The most recent exports are led by Passenger and Cargo Ships ($314M), Recreational Boats ($237M), Non-fillet Frozen Fish ($54M), Scrap Vessels ($23M), and Iron Structures ($19.3M). The most common destination for the exports of Marshall Islands are Netherlands ($212M), Denmark ($136M), Poland ($71.7M), Indonesia ($48.6M), and Thailand ($39.6M).
Fastest Growing Export Markets (2019 - 2020)
Fastest Growing Import Markets (2019 - 2020)
Marshall Islands Exports Services (2018): $26.7M
Marshall Islands Imports Services (2018): $55.8M
In 2018, Marshall Islands exported $26.7M worth of services. The top services exported by Marshall Islands in 2018 were Transportation ($12.5M), Business travel ($6.65M), Government services, n.i.e. ($5.52M), Personal travel ($1.92M), and Computer and information services ($154k).
The top services imported by Marshall Islands in 2018 were Transportation ($28.7M), Personal travel ($15.1M), Business travel ($4.79M), Government services, n.i.e. ($4.05M), and Financial services ($2.99M).
Marshall Islands has a high level of specialization in Recreational Boats (280), Scrap Vessels (226), Passenger and Cargo Ships (108), Tug Boats (89.8), and Non-fillet Frozen Fish (52.6). Specialization is measured using RCA, an index that takes the ratio between Marshall Islands observed and expected exports in each product.
The highest complexity exports of Marshall Islands according to the product complexity index (PCI) are Hydrometers and similar floating instruments, thermometers, pyrometers, barometers, hygrometers and psychrometers, recording or not (1), Vehicles; parts and accessories of heading no. 8711 to 8713 (0.96), Slide fasteners and parts thereof (0.43), Structures of iron or steel and parts thereof; plates, rods, angles, shapes, sections, tubes and the like, prepared for use in structures (0.39), and Yachts and other vessels; for pleasure or sports, rowing boats and canoes (0.11). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Marshall Islands according to the relatedness index, are Cocoa Beans (0.046), Palm Oil (0.045), Crustaceans (0.043), Fish oil (0.042), and Molluscs (0.037). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Marshall Islands 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.
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.
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