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2023
Product
Exports | Imports $52.3M | $99M204 of 226 |  212 of 226
2023
Per Capita Product
Exports | Imports $5.33k | $10.1k61 of 220 |  70 of 220

About

Overview In 2023 Tuvalu was the number 204 economy in the world in terms of total exports and the number 212 in total imports.

Exports The top exports of Tuvalu are Non-fillet Frozen Fish ($49.4M), Fish Fillets ($801k), Broadcasting Equipment ($635k), Video Displays ($255k), and Carbonates ($139k), exporting mostly to Thailand ($45.9M), Japan ($2.95M), Philippines ($1.37M), Ireland ($588k), and United States ($472k).

Imports The top imports of Tuvalu are Passenger and Cargo Ships ($25.5M), Refined Petroleum ($19.5M), Iron Structures ($5.19M), Tug Boats ($4.6M), and Non-fillet Frozen Fish ($2.75M), importing mostly from China ($41.9M), Fiji ($23.4M), Japan ($10.9M), Australia ($10.7M), and New Zealand ($3.82M).

Latest Trends

Latest Trade

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Y-AXIS SCALE

The following section uses the most recent trade data from partners of Tuvalu.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2023)Non-fillet Frozen Fish$49.4M
Top Destination (2023)Thailand$45.9M

In 2023, Tuvalu exported a total of $52.3M, making it the number 204 exporter in the world. During the last five reported years the exports of Tuvalu have changed by $22.1M from $30.2M in 2018 to $52.3M in 2023.

The most recent exports are led by Non-fillet Frozen Fish ($49.4M), Fish Fillets ($801k), Broadcasting Equipment ($635k), Video Displays ($255k), and Carbonates ($139k). The most common destination for the exports of Tuvalu are Thailand ($45.9M), Japan ($2.95M), Philippines ($1.37M), Ireland ($588k), and United States ($472k).

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Exports (2023)
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Destinations (2023)
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Market Growth

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Growth
Fastest Growing Export Markets (2022 - 2023)
Japan$2.36M (+ 395%)
Ireland$586k (+ 39.4k%)
United States$281k (+ 147%)
Fastest Growing Import Markets (2022 - 2023)
China$8.7M (+ 26.2%)
Australia$6.15M (+ 135%)
Fiji$3.56M (+ 17.9%)

Total Export Growth by Market (2022 - 2023)

Potential Exports

Potential Exports

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Service Trade

Service Trade

Tuvalu Exports Services (2008)$5.58M
Tuvalu Imports Services (2008)$18.9M

In 2008, Tuvalu exported $5.58M worth of services. The top services exported by Tuvalu in 2008 were Compensation of employees ($3.16M), Travel ($1.5M), Other business services ($301k), Transportation ($290k), and Communications services ($163k).

The top services imported by Tuvalu in 2008 were Transportation ($7M), Travel ($4.98M), Other business services ($3.02M), Personal, cultural, and recreational services ($1.8M), and Services not allocated ($1.47M).

Service Exports (2008)

Service Imports (2008)

Economic Complexity

Most Specialized Products by RCA Index

Tuvalu has a high level of specialization in Non-fillet Frozen Fish (816), Coin (54.1), Fish Fillets (11.6), Nitrile Compounds (7.39), and Rock Wool (4.92). Specialization is measured using RCA, an index that takes the ratio between Tuvalu observed and expected exports in each product.

Most Complex Products by PCI

The highest complexity exports of Tuvalu according to the product complexity index (PCI) are Nitrile-function compounds (1.12), Slag, rock wool and similar mineral wools; exfoliated vermiculite, expanded clays, foamed... (0.71), Plastic plates, sheets, film, foil and strip n.e.c. in chapter 39 (0.62), Monitors and projectors, not incorporating television reception apparatus; reception apparatus for television,... (0.14), and Containers for compressed or liquefied gas, of iron or steel (0.038). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Tuvalu according to the relatedness index, were Non-fillet Fresh Fish (0.02), Animal Meal and Pellets (0.018), Crustaceans (0.017), Other Floating Structures (0.017), and Refined Petroleum (0.017). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Tuvalu is not specialized in.

Product Space

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.

Relatedness Space

This network shows the products most related to the production structure of Tuvalu. These are products that tend to be co-exported with the products that Tuvalu exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2023)

Diversification Frontier

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Depth

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.

Diversification Frontier

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