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 a country currently specializes 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 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.