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2023
Product
Exports | Imports $2.11M | $31.5M223 of 226 |  221 of 226

About

Overview In 2023 Norfolk Island was the number 223 economy in the world in terms of total exports and the number 221 in total imports.

Exports The top exports of Norfolk Island are Leather Footwear ($413k), Sowing Seeds ($252k), Motor vehicles; parts and accessories (8701 to 8705) ($175k), Disc Chemicals for Electronics ($145k), and Sulfate Chemical Woodpulp ($97.9k), exporting mostly to United States ($655k), Belgium ($192k), Philippines ($145k), Israel ($131k), and Singapore ($123k).

Imports The top imports of Norfolk Island are Refined Petroleum ($4.09M), Propylene Polymers ($2.54M), Electrical Lighting and Signalling Equipment ($1.7M), Cars ($1.45M), and Machinery Having Individual Functions ($1.17M), importing mostly from Australia ($16.4M), Fiji ($4.05M), New Zealand ($3.9M), Saudi Arabia ($3.63M), and Malaysia ($1.7M).

Location Norfolk Island borders New Zealand and New Caledonia by sea.

Latest Trends

Latest Trade

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Y-AXIS SCALE

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

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)Leather Footwear$413k
Top Destination (2023)United States$655k

In 2023, Norfolk Island exported a total of $2.11M, making it the number 223 exporter in the world. During the last five reported years the exports of Norfolk Island have changed by -$696k from $2.8M in 2018 to $2.11M in 2023.

The most recent exports are led by Leather Footwear ($413k), Sowing Seeds ($252k), Motor vehicles; parts and accessories (8701 to 8705) ($175k), Disc Chemicals for Electronics ($145k), and Sulfate Chemical Woodpulp ($97.9k). The most common destination for the exports of Norfolk Island are United States ($655k), Belgium ($192k), Philippines ($145k), Israel ($131k), and Singapore ($123k).

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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)
United States$384k (+ 142%)
Israel$126k (+ 2.52k%)
Indonesia$87.7k (+ 854%)
Fastest Growing Import Markets (2022 - 2023)
Australia$6.7M (+ 69.2%)
Fiji$1.45M (+ 55.8%)
Malaysia$482k (+ 39.5%)

Total Export Growth by Market (2022 - 2023)

Potential Exports

Potential Exports

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Economic Complexity

Most Specialized Products by RCA Index

Norfolk Island has a high level of specialization in Sowing Seeds (320), Metal Signs (303), Scrap Nickel (108), Scrap Plastic (84.2), and Leather Footwear (77.3). Specialization is measured using RCA, an index that takes the ratio between Norfolk Island observed and expected exports in each product.

Export Opportunities by Relatedness

The top export opportunities for Norfolk Island according to the relatedness index, were Scrap Lead (0.061), Scrap Copper (0.061), Non-fillet Frozen Fish (0.059), Recreational Boats (0.059), and Crude Petroleum (0.058). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Norfolk Island 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 Norfolk Island. These are products that tend to be co-exported with the products that Norfolk Island 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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