Marshall Islands2019 Product Exports | Imports: $1.11B | $8.89B, 155 of 225 | 111 of 225
2019 Per Capita Product Exports | Imports: $18.9k | $151k, 13 of 219 | 2 of 219
2018 Service Exports | Imports : $26.7M | $55.8M, 123 of 125 | 123 of 125
Overview In 2019 Marshall Islands was the number 155 in total exports, the number 111 in total imports and the number null most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of Marshall Islands are Passenger and Cargo Ships ($852M), Non-fillet Frozen Fish ($83.2M), Recreational Boats ($56.6M), Broadcasting Equipment ($33.9M), and Coal Tar Oil ($20.2M), exporting mostly to Poland ($311M), Denmark ($205M), South Korea ($139M), Indonesia ($111M), and Cyprus ($65.8M).
Imports The top imports of Marshall Islands are Passenger and Cargo Ships ($6.92B), Refined Petroleum ($870M), Centrifuges ($192M), Recreational Boats ($192M), and Boat Propellers ($168M), importing mostly from South Korea ($3.44B), China ($2.38B), Japan ($1.31B), Brazil ($216M), and Thailand ($189M).
Top Export (2019): Passenger and Cargo Ships, $852M
Top Destination (2019): Poland, $311M
In 2019, Marshall Islands exported a total of $1.11B, making it the number 155 exporter in the world. During the last five reported years the exports of Marshall Islands have changed by $266M from $845M in 2014 to $1.11B in 2019.
The most recent exports are led by Passenger and Cargo Ships ($852M), Non-fillet Frozen Fish ($83.2M), Recreational Boats ($56.6M), Broadcasting Equipment ($33.9M), and Coal Tar Oil ($20.2M). The most common destination for the exports of Marshall Islands are Poland ($311M), Denmark ($205M), South Korea ($139M), Indonesia ($111M), and Cyprus ($65.8M).
Top Import (2019): Passenger and Cargo Ships, $6.92B
Top Origin (2019): South Korea, $3.44B
In 2019 Marshall Islands imported $8.89B, making it the number 111 trade destination in the world. During the last five reported years the imports of Marshall Islands changed by -$3.95B from $12.8B in 2014 to $8.89B in 2019.
The most recent imports of Marshall Islands are led by Passenger and Cargo Ships ($6.92B), Refined Petroleum ($870M), Centrifuges ($192M), Recreational Boats ($192M), and Boat Propellers ($168M). The most common import partners for Marshall Islands are South Korea ($3.44B), China ($2.38B), Japan ($1.31B), Brazil ($216M), and Thailand ($189M).
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 Passenger and Cargo Ships (199), Scrap Plastic (54), Non-fillet Frozen Fish (52.9), Scrap Vessels (51.9), and Recreational Boats (50.9). 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 Machinery parts, without electric features, nes (0.9), Radio and TV transmitters, television cameras (0.39), Yachts, pleasure, sports vessels, rowing boats, canoes (0.38), Coal-tar distillation products including oils (-0.064), and Woven fabric of synthetic staple fibres, nes (-0.33). 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 Crustaceans (0.039), Crude Petroleum (0.037), Molluscs (0.036), Cocoa Beans (0.035), and Processed Crustaceans (0.034). 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.