In 2021, Norfolk Island exported a total of $1.98M, making it the number 225 exporter in the world. During the last five reported years the exports of Norfolk Island have changed by $584k from $1.39M in 2016 to $1.98M in 2021.
The top export opportunities for Norfolk Island according to the relatedness index, were Glass Scraps (0.05), Aircraft Parts (0.05), Plastic Pipes (0.05), Surveying Equipment (0.05), and Scrap Lead (0.05). 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.
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 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.
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.