Palau
2019 Product Exports | Imports: $22.4M | $102M, 210 of 225 | 209 of 225
2019 Per Capita Product Exports | Imports: $1.24k | $5.68k, N/A of N/A | N/A of N/A
Exports The top exports of Palau are Non-fillet Fresh Fish ($12.5M), Computers ($3.63M), Broadcasting Accessories ($3.11M), Office Machine Parts ($1.08M), and Scrap Vessels ($588k), exporting mostly to Japan ($15.7M), South Korea ($3.38M), United States ($1.6M), Turkey ($588k), and Chinese Taipei ($473k).
Imports The top imports of Palau are Refined Petroleum ($16.3M), Non-fillet Fresh Fish ($10.4M), Cars ($3.69M), Broadcasting Accessories ($3.2M), and Instructional Models ($2.2M), importing mostly from South Korea ($19.1M), China ($18.7M), Chinese Taipei ($17.3M), United States ($16.9M), and Japan ($16.3M).
Location Palau borders Indonesia, Micronesia, and Philippines by sea.
Historical Data
#permalink to sectionYearly Exports
#permalink to sectionTop Export (2019): Non-fillet Fresh Fish, $12.5M
Top Destination (2019): Japan, $15.7M
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 most recent exports are led by Non-fillet Fresh Fish ($12.5M), Computers ($3.63M), Broadcasting Accessories ($3.11M), Office Machine Parts ($1.08M), and Scrap Vessels ($588k). The most common destination for the exports of Palau are Japan ($15.7M), South Korea ($3.38M), United States ($1.6M), Turkey ($588k), and Chinese Taipei ($473k).
Yearly Imports
#permalink to sectionTop Import (2019): Refined Petroleum, $16.3M
Top Origin (2019): South Korea, $19.1M
In 2019 Palau imported $102M, making it the number 209 trade destination in the world. During the last five reported years the imports of Palau changed by -$104M from $207M in 2014 to $102M in 2019.
The most recent imports of Palau are led by Refined Petroleum ($16.3M), Non-fillet Fresh Fish ($10.4M), Cars ($3.69M), Broadcasting Accessories ($3.2M), and Instructional Models ($2.2M). The most common import partners for Palau are South Korea ($19.1M), China ($18.7M), Chinese Taipei ($17.3M), United States ($16.9M), and Japan ($16.3M).
Market Growth
#permalink to sectionFastest Growing Export Markets (2018 - 2019)
- South Korea, $3.26M (+ 2.71k%)
- United States, $404k (+ 33.9%)
- Singapore, $74k (+ 173%)
Fastest Growing Import Markets (2018 - 2019)
- China, $5.23M (+ 39%)
- South Korea, $2.31M (+ 13.8%)
- Malaysia, $2M (+ 517%)
Tariffs
#permalink to sectionTariffs by Product
#permalink to sectionThe top product import tariffs by their MFN Ad Valorem value for Palau are Ethyl alcohol and other spirits, denatured (21.8M%) and Vermouth and other flavoured grape wines - pack < 2l (12.8M%).
Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.
*The tariffs applied to imports for Palau are:
Economic Complexity
#permalink to sectionMost Specialized Products by RCA Index
#permalink to sectionPalau has a high level of specialization in Non-fillet Fresh Fish (476), Scrap Vessels (158), Coin (78), Live Fish (71.3), and Broadcasting Accessories (43.8). 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
#permalink to sectionThe highest complexity exports of Palau according to the product complexity index (PCI) are Parts, accessories, except covers, for office machines (1.56), Compression-ignition engines (diesel etc) (1.2), Automatic data processing machines (computers) (1.13), Parts for radio, tv transmission, receive equipment (0.92), and Fermented beverages nes (eg cider, perry, mead) (0.25). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
Export Opportunities by Relatedness
#permalink to sectionThe 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.
Product Space
#permalink to sectionThe 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.
Diversification Frontier
#permalink to sectionThe 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.