Palau
2020 Product Exports | Imports: $13.1M | $89.3M, 212 of 226 | 211 of 226
2020 Per Capita Product Exports | Imports: $726 | $4.94k, 149 of 219 | 78 of 219
Overview In 2020 Palau was the number 212 economy in the world in terms of total exports and the number 211 in total imports.
Exports The top exports of Palau are Scrap Vessels ($7.79M), Computers ($3.79M), Live Fish ($352k), Scrap Iron ($307k), and Office Machine Parts ($146k), exporting mostly to Turkey ($7.79M), Japan ($3.76M), United States ($476k), Chinese Taipei ($450k), and South Korea ($292k).
Imports The top imports of Palau are Refined Petroleum ($7.08M), Recreational Boats ($7.02M), Cars ($3.02M), Other toys ($2.69M), and Non-fillet Fresh Fish ($2.59M), importing mostly from China ($24.3M), United States ($18.1M), Chinese Taipei ($12.5M), Japan ($12.4M), and Italy ($6.92M).
Location Palau borders Indonesia, Micronesia, and Philippines by sea.
Latest Trends
#permalink to sectionLatest Trade
#permalink to sectionThe 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.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Latest Data
#permalink to sectionData is presented based on data availability. Only countries using the Harmonic System (HS) are selected. Every source is shown using their own latest twelve months of data.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Historical Data
#permalink to sectionYearly Trade
#permalink to sectionTop Export (2020): Scrap Vessels, $7.79M
Top Destination (2020): Turkey, $24.3M
In 2020, Palau exported a total of $13.1M, making it the number 212 exporter in the world. During the last five reported years the exports of Palau have changed by -$5.08M from $18.2M in 2015 to $13.1M in 2020.
The most recent exports are led by Scrap Vessels ($7.79M), Computers ($3.79M), Live Fish ($352k), Scrap Iron ($307k), and Office Machine Parts ($146k). The most common destination for the exports of Palau are Turkey ($7.79M), Japan ($3.76M), United States ($476k), Chinese Taipei ($450k), and South Korea ($292k).
Market Growth
#permalink to sectionEconomic Complexity
#permalink to sectionMost Specialized Products by RCA Index
#permalink to sectionPalau has a high level of specialization in Scrap Vessels (4.35k), Live Fish (233), Oats (23.5), Computers (15.9), and Scrap Aluminium (14.9). 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 Navigation Equipment (1.25), Computers (1.04), Other Metals (0.37), Wood Carpentry (0.013), and Ornamental Ceramics (-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 (0.04), Cocoa Beans (0.036), Non-fillet Fresh Fish (0.036), Fish Fillets (0.035), and Crustaceans (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.
