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2022
Product
Exports | Imports $1.96M | $28.1M225 of 226 |  222 of 226

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Overview In 2022 Norfolk Island was the number 225 economy in the world in terms of total exports and the number 222 in total imports.

Exports The top exports of Norfolk Island are Sowing Seeds ($379k), Ketones and Quinones ($245k), Copper Powder ($223k), Stone Working Machines ($116k), and Motor vehicles; parts and accessories (8701 to 8705) ($111k), exporting mostly to India ($316k), Belgium ($279k), United States ($271k), Malaysia ($261k), and Singapore ($192k).

Imports The top imports of Norfolk Island are Non-Knit Women's Suits ($5.41M), Refined Petroleum ($2.63M), Raw Tobacco ($1.47M), Electrical Lighting and Signalling Equipment ($1.1M), and Other Edible Preparations ($597k), importing mostly from Australia ($9.68M), Philippines ($5.29M), New Zealand ($4.75M), Fiji ($2.6M), and Brazil ($1.96M).

Location Norfolk Island borders New Zealand and New Caledonia by sea.

Latest Trends

Latest Trade

Flow
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Y-AXIS SCALE

The following section uses the most recent trade data from partners of Norfolk Island.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

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.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2022)Sowing Seeds$379k
Top Destination (2022)India$316k

In 2022, Norfolk Island exported a total of $1.96M, making it the number 225 exporter in the world. During the last five reported years the exports of Norfolk Island have changed by -$90k from $2.05M in 2017 to $1.96M in 2022.

The most recent exports are led by Sowing Seeds ($379k), Ketones and Quinones ($245k), Copper Powder ($223k), Stone Working Machines ($116k), and Motor vehicles; parts and accessories (8701 to 8705) ($111k). The most common destination for the exports of Norfolk Island are India ($316k), Belgium ($279k), United States ($271k), Malaysia ($261k), and Singapore ($192k).

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Exports (2022)
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Destinations (2022)
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Market Growth

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Growth
Fastest Growing Export Markets (2021 - 2022)
United States$225k (+ 492%)
Singapore$180k (+ 1.46k%)
Malaysia$166k (+ 175%)
Fastest Growing Import Markets (2021 - 2022)
Australia$2.71M (+ 38.8%)
Philippines$1.32M (+ 33.3%)
Brazil$1.25M (+ 177%)

Total Export Growth by Market (2021 - 2022)

Potential Exports

Potential Exports

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Economic Complexity

Most Specialized Products by RCA Index

Norfolk Island has a high level of specialization in Copper Powder (1.73k), Sowing Seeds (539), Stone Working Machines (500), Ketones and Quinones (380), and Twine, cordage or rope; knotted netting, made up fishing nets and other made up nets, of textile materials (325). Specialization is measured using RCA, an index that takes the ratio between Norfolk Island observed and expected exports in each product.

Export Opportunities by Relatedness

The top export opportunities for Norfolk Island according to the relatedness index, were Non-fillet Frozen Fish (0.059), Animal Meal and Pellets (0.058), Crustaceans (0.057), Chemical Analysis Instruments (0.057), and Interchangeable Tool Parts (0.057). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Norfolk Island is not specialized in.

Product Space

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.

Relatedness Space

This network shows the products most related to the production structure of Norfolk Island. These are products that tend to be co-exported with the products that Norfolk Island exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2022)

Diversification Frontier

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Depth

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.

Diversification Frontier

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