Tuvalu
2020 Product Exports | Imports: $12.7M | $60.1M, 213 of 226 | 214 of 226
2020 Per Capita Product Exports | Imports: $1.08k | $5.1k, 110 of 219 | 75 of 219
2008 Service Exports | Imports : $5.58M | $18.9M, 187 of 189 | 186 of 187
Overview In 2020 Tuvalu was the number 213 economy in the world in terms of total exports and the number 214 in total imports.
Exports The top exports of Tuvalu are Non-fillet Frozen Fish ($10.4M), X-Ray Equipment ($1.67M), Cameras ($129k), Machinery Having Individual Functions ($98.8k), and Coin ($80.9k), exporting mostly to Thailand ($6.18M), Philippines ($3.66M), Mozambique ($1.67M), Japan ($542k), and Slovenia ($139k).
Imports The top imports of Tuvalu are Fishing Ships ($21.6M), Passenger and Cargo Ships ($13.2M), Refined Petroleum ($9.43M), Iron Structures ($3.98M), and Tug Boats ($1.29M), importing mostly from Japan ($25.8M), China ($16.1M), South Korea ($9.25M), Indonesia ($1.73M), and United States ($1.59M).
Latest Trends
#permalink to sectionLatest Trade
#permalink to sectionThe 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.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Latest Data
#permalink to sectionThe 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.
Historical Data
#permalink to sectionYearly Trade
#permalink to sectionTop Export (2020): Non-fillet Frozen Fish, $10.4M
Top Destination (2020): Thailand, $25.8M
In 2020, Tuvalu exported a total of $12.7M, making it the number 213 exporter in the world. During the last five reported years the exports of Tuvalu have changed by -$25.6M from $38.3M in 2015 to $12.7M in 2020.
The most recent exports are led by Non-fillet Frozen Fish ($10.4M), X-Ray Equipment ($1.67M), Cameras ($129k), Machinery Having Individual Functions ($98.8k), and Coin ($80.9k). The most common destination for the exports of Tuvalu are Thailand ($6.18M), Philippines ($3.66M), Mozambique ($1.67M), Japan ($542k), and Slovenia ($139k).
Market Growth
#permalink to sectionFastest Growing Export Markets (2019 - 2020)
- Philippines, $3.66M (+ 548k%)
- Mozambique, $1.67M (+ 50.8k%)
- Slovenia, $105k (+ 307%)
Fastest Growing Import Markets (2019 - 2020)
- South Korea, $8.98M (+ 3.24k%)
- Japan, $5.82M (+ 29.1%)
- Indonesia, $1.6M (+ 1.21k%)
Service Trade
#permalink to sectionService Trade
#permalink to sectionTuvalu 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).
Economic Complexity
#permalink to sectionMost Specialized Products by RCA Index
#permalink to sectionTuvalu has a high level of specialization in Non-fillet Frozen Fish (594), X-Ray Equipment (95), Cameras (72.8), Fishing Ships (41.1), and Knit Men's Undergarments (5.01). 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
#permalink to sectionThe highest complexity exports of Tuvalu according to the product complexity index (PCI) are Machinery Having Individual Functions (1.95), X-Ray Equipment (1.61), Boat Propellers (1.02), Central Heating Boilers (0.8), and Cameras (0.2). 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 Tuvalu according to the relatedness index, are Fish oil (0.02), Scrap Vessels (0.019), Fish Fillets (0.019), Crustaceans (0.017), and Surveying Equipment (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
#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.
