In 2019, Palau exported a total of $22.4M, making it the number 210 exporter in the world. During the last five reported years the exports of Palau have changed by -$732k from $23.1M in 2014 to $22.4M in 2019.
The top export opportunities for Palau according to the relatedness index, are Non-fillet Frozen Fish (0.042), Crustaceans (0.038), Gold (0.036), Fish Fillets (0.035), and Perfume Plants (0.034). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Palau 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.
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.
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.