Flag Palau

Product Exports (2018): $30.3M, Rank 202 of 222

Exports Per Capita (2018): $1.69k, Rank 172 of 219

Product Imports (2018): $172M, Rank 198 of 221

Imports Per Capita (2018): $9.63k, Rank 160 of 219

GDP (2018): $284M, CURRENT US$
Rank 192 of 196

GDP growth (2008 - 2018): 43.4%, CURRENT US$
Rank 93 of 196

GDP PC (2018): $15,859, CURRENT US$
Rank 60 of 196

GDP PC GROWTH (2008 - 2018): 49.8%, CURRENT US$
Rank 44 of 196

Overview: This page contains the latest international trade data for Palau. In 2018 Palau was the number 192 economy in the world in terms of GDP (current US$), the number 202 in total exports, and the number 198 in total imports. In 2018, Palau exported $30.3M and imported $172M, resulting in a negative trade balance of -$142M. In 2018, Palau's exports per capita were $1.69k and its imports per capita were $9.63k.

Trade: The top exports of Palau are Non-fillet Fresh Fish ($18.3M), Scrap Vessels ($4.13M), Computers ($3.2M), Office Machine Parts ($924k), and Refined Petroleum ($638k). The top imports of Palau are Refined Petroleum ($36.6M), Non-fillet Fresh Fish ($14.8M), Cars ($4.56M), Recreational Boats ($3.12M), and Beer ($2.49M).

Destinations: Palau exports mostly to Japan ($21.5M), India ($3.18M), Turkey ($1.44M), United States ($1.19M), and Chinese Taipei ($808k), and imports mostly from United States ($46.4M), Chinese Taipei ($25.9M), Singapore ($23.6M), Japan ($17.7M), and South Korea ($16.7M).

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

Yearly Exports

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Top Export (2018): Non-fillet Fresh Fish, $18.3M

Top Destination (2018): Japan, $21.5M

In 2018 Palau exported a total of $30.3M, making it the number 202 exporter in the world. During the last five reported years the exports of Palau have changed by $14.4M from $15.9M in 2013 to $30.3M in 2018.

The most recent exports are led by Non-fillet Fresh Fish ($18.3M), Scrap Vessels ($4.13M), Computers ($3.2M), Office Machine Parts ($924k), and Refined Petroleum ($638k). The most common destination for the exports of Palau are Japan ($21.5M), India ($3.18M), Turkey ($1.44M), United States ($1.19M), and Chinese Taipei ($808k).

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Yearly Imports

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Top Import (2018): Refined Petroleum, $36.6M

Top Origin (2018): United States, $46.4M

In 2018 Palau imported $172M, making it the number 198 trade destination in the world. During the last five reported years the imports of Palau changed by -$8.36M from $181M in 2013 to $172M in 2018.

The most recent imports of Palau are led by Refined Petroleum ($36.6M), Non-fillet Fresh Fish ($14.8M), Cars ($4.56M), Recreational Boats ($3.12M), and Beer ($2.49M). The most common import partners for Palau are United States ($46.4M), Chinese Taipei ($25.9M), Singapore ($23.6M), Japan ($17.7M), and South Korea ($16.7M).

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Flow

Fastest Growing Export Markets (2017 - 2018)

  • India, $3.1M (+ 3.87k%)
  • Japan, $1.95M (+ 9.98%)
  • Chinese Taipei, $613k (+ 315%)

Fastest Growing Import Markets (2017 - 2018)

  • Chinese Taipei, $16.3M (+ 169%)
  • South Korea, $4.31M (+ 34.7%)
  • Guam, $1.29M (+ 22.4%)

Trade Forecasts

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This section shows forecasts for total product exports and imports for Palau. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Economic Complexity

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Most Specialized Products by RCA Index

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Palau has a high level of specialization in Scrap Vessels (1.29k), Non-fillet Fresh Fish (517), Pearls (119), Live Fish (44.2), and Light Synthetic Cotton Fabrics (12.1). 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

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The highest complexity exports of Palau according to the product complexity index (PCI) are Parts, accessories, except covers, for office machines (1.14), Self-propelled earth moving, road making, etc machines (0.85), Automatic data processing machines (computers) (0.85), Wallpaper and similar wall coverings etc of paper (0.68), and Aircraft, spacecraft, satellites (0.53). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Palau according to the relatedness index, are Non-fillet Frozen Fish (0.049), Cocoa Beans (0.046), Crustaceans (0.046), Gold (0.045), and Hard Liquor (0.044). 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.

Diversification Frontier

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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.