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Pricing

2022
Product
Exports | Imports $7.75M | $154M219 of 226 |  209 of 226
2022
Per Capita Product
Exports | Imports $429 | $8.51k204 of 220 |  66 of 220

About

Overview In 2022 Palau was the number 219 economy in the world in terms of total exports and the number 209 in total imports.

Exports The top exports of Palau are Recreational Boats ($2.27M), Computers ($1.84M), Passenger and Cargo Ships ($1.2M), Office Machine Parts ($623k), and Scrap Iron ($438k), exporting mostly to Greece ($2.11M), Japan ($2.04M), France ($1.37M), Chinese Taipei ($603k), and United States ($540k).

Imports The top imports of Palau are Refined Petroleum ($32.4M), Special Purpose Ships ($23.3M), Recreational Boats ($10M), Iron Structures ($3.86M), and Electric Batteries ($3.33M), importing mostly from China ($54.2M), United States ($21M), South Korea ($20M), Japan ($12.8M), and Italy ($9.26M).

Location Palau borders Indonesia, Micronesia, and Philippines by sea.

Latest Trends

Latest Trade

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Y-AXIS SCALE

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

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)Recreational Boats$2.27M
Top Destination (2022)Greece$2.11M

In 2022, Palau exported a total of $7.75M, making it the number 219 exporter in the world. During the last five reported years the exports of Palau have changed by -$20M from $27.8M in 2017 to $7.75M in 2022.

The most recent exports are led by Recreational Boats ($2.27M), Computers ($1.84M), Passenger and Cargo Ships ($1.2M), Office Machine Parts ($623k), and Scrap Iron ($438k). The most common destination for the exports of Palau are Greece ($2.11M), Japan ($2.04M), France ($1.37M), Chinese Taipei ($603k), and United States ($540k).

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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)
France$1.37M (+ 44.4k%)
Japan$220k (+ 12.1%)
South Korea$92.3k (+ 45.2%)
Fastest Growing Import Markets (2021 - 2022)
China$20.5M (+ 60.7%)
Italy$9.26M (+ 423k%)
South Korea$6.94M (+ 53.1%)

Total Export Growth by Market (2021 - 2022)

Potential Exports

Potential Exports

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Economic Complexity

Most Specialized Products by RCA Index

Palau has a high level of specialization in Live Fish (439), Recreational Boats (416), Coin (115), Passenger and Cargo Ships (50.7), and Scrap Plastic (34.7). Specialization is measured using RCA, an index that takes the ratio between Palau observed and expected exports in each product.

Most Complex Products by PCI

The highest complexity exports of Palau according to the product complexity index (PCI) are Instruments and apparatus; for physical or chemical analysis (e.g. polarimeters, spectrometers), for... (1.68), Tools, hand; hand-operated spanners and wrenches (including torque meter wrenches but not... (1.55), Machinery; parts and accessories (other than covers, carrying cases and the like)... (1.3), Textile fabrics impregnated, coated, covered or laminated with plastics, other than those... (1.28), and Ball or roller bearings (1.2). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Palau according to the relatedness index, were Hard Liquor (0.038), Crustaceans (0.037), Non-fillet Frozen Fish (0.037), Cocoa Beans (0.037), and Scrap Lead (0.036). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Palau 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 Palau. These are products that tend to be co-exported with the products that Palau 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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