Flag Norfolk Island

Product Exports (2018): $2.74M, Rank 219 of 222

Product Imports (2018): $20.5M, Rank 215 of 221

Overview: This page contains the latest international trade data for Norfolk Island. In 2018 Norfolk Island was the number 219 in total exports and the number 215 in total imports. In 2018, Norfolk Island exported $2.74M and imported $20.5M, resulting in a negative trade balance of -$17.7M.

Trade: The top exports of Norfolk Island are Small Iron Containers ($585k), Metal Stoppers ($343k), Brochures ($256k), Sowing Seeds ($238k), and Fuel Wood ($237k). The top imports of Norfolk Island are Refined Petroleum ($3.16M), Non-Knit Women's Suits ($2.92M), Fishing Ships ($1.47M), Sports Equipment ($754k), and Cars ($590k).

Destinations: Norfolk Island exports mostly to United States ($695k), Singapore ($436k), Belgium-Luxembourg ($417k), India ($331k), and France ($169k), and imports mostly from New Zealand ($6.22M), Australia ($4.81M), Fiji ($3.09M), Philippines ($2.92M), and China ($1.97M).

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

Yearly Exports

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Top Export (2018): Small Iron Containers, $585k

Top Destination (2018): United States, $695k

In 2018 Norfolk Island exported a total of $2.74M, making it the number 219 exporter in the world. During the last five reported years the exports of Norfolk Island have changed by -$3M from $5.74M in 2013 to $2.74M in 2018.

The most recent exports are led by Small Iron Containers ($585k), Metal Stoppers ($343k), Brochures ($256k), Sowing Seeds ($238k), and Fuel Wood ($237k). The most common destination for the exports of Norfolk Island are United States ($695k), Singapore ($436k), Belgium-Luxembourg ($417k), India ($331k), and France ($169k).

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Yearly Imports

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Top Import (2018): Refined Petroleum, $3.16M

Top Origin (2018): New Zealand, $6.22M

In 2018 Norfolk Island imported $20.5M, making it the number 215 trade destination in the world. During the last five reported years the imports of Norfolk Island changed by -$6.15M from $26.6M in 2013 to $20.5M in 2018.

The most recent imports of Norfolk Island are led by Refined Petroleum ($3.16M), Non-Knit Women's Suits ($2.92M), Fishing Ships ($1.47M), Sports Equipment ($754k), and Cars ($590k). The most common import partners for Norfolk Island are New Zealand ($6.22M), Australia ($4.81M), Fiji ($3.09M), Philippines ($2.92M), and China ($1.97M).

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Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Trade Forecasts

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This section shows forecasts for total product exports and imports for Norfolk Island. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Economic Complexity

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Most Specialized Products by RCA Index

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Norfolk Island has a high level of specialization in Small Iron Containers (601), Metal Stoppers (325), Sowing Seeds (198), Fuel Wood (157), and Brochures (104). Specialization is measured using RCA, an index that takes the ratio between Norfolk Island observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Norfolk Island according to the product complexity index (PCI) are Metal pickling preps, solder, brazing flux, weld cores (1.73), Tools for working in the hand, non-electric motor (1.65), Fork-lift trucks, other trucks with lifting equipment (1.59), Self-adhesive plates, sheets, film etc of plastic (1.55), and Pumps for liquids (1.38). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Norfolk Island according to the relatedness index, are Scrap Copper (0.045), Other Edible Preparations (0.045), Recreational Boats (0.045), Scrap Lead (0.044), and Breathing Appliances (0.043). 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 it is currently specialized in.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a 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 emissions.