Trade Trend

In 2023, Micronesia's total export value is 224.85Million USD, total import value is 175.30Million USD, Surplus is 49.55Million USD, and foreign trade dependency is 0.870. In 2023，Micronesia's top export products are Fish; frozen, excluding fish fillets and other fish meat of heading 0304(213.33Million USD), Fish fillets and other fish meat (whether or not minced); fresh, chilled or frozen(5.19Million USD), Diamonds, whether or not worked, but not mounted or set(882.96Thousands USD), top export destinations are Thailand(120.71Million USD), Vietnam(34.20Million USD), China(31.13Million USD). In 2023, Micronesia's top import products are Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(35.04Million USD), None(7.32Million USD), Meat and edible offal of poultry; of the poultry of heading no. 0105, (i.e. fowls of the species Gallus domesticus), fresh, chilled or frozen(5.64Million USD), top import origins are United States(52.01Million USD), South Korea(44.00Million USD), China(25.86Million USD).

Comparing to 2022, Micronesia's total export value increased 24.32Million USD(12.13%) in 2023, this could result from its export increases of products such as Fish; frozen, excluding fish fillets and other fish meat of heading 0304(21.96Million USD or 11.47%), Fish fillets and other fish meat (whether or not minced); fresh, chilled or frozen(982.07Thousands USD or 23.35%), Maize (corn)(315.87Thousands USD or 239.29Thousands%) and export increases to countries/economics such as China(31.03Million USD or 30.76Thousands%), Japan(289.30Thousands USD or 3.25%), France(260.11Thousands USD or 274.66%). Comparing to 2022, Micronesia's total import value increased 23.86Million USD(15.76%) in 2023, this could result from its import increases of products such as Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(29.21Million USD or 501.66%), Transmission apparatus; parts suitable for use solely or principally with the apparatus of heading no. 8524 to 8528(2.45Million USD or 3.88Thousands%), Twine, cordage or rope; knotted netting, made up fishing nets and other made up nets, of textile materials(2.21Million USD or 95.49%), and its import increases from countries/economies such as South Korea(31.96Million USD or 265.58%), Australia(1.97Million USD or 61.58%), Japan(1.53Million USD or 10.00%).

Cumulated to first 6 months of 2024, Micronesia's total export value is 112.10Million USD, total import value is 56.56Million USD, and tradesurplus is 55.54Million USD. Cumulated to first 6 months of 2024, Micronesia's top export products are Fish; frozen, excluding fish fillets and other fish meat of heading 0304(106.55Million USD), Transmission apparatus; parts suitable for use solely or principally with the apparatus of heading no. 8524 to 8528(2.47Million USD), Fish fillets and other fish meat (whether or not minced); fresh, chilled or frozen(1.88Million USD), and top export destinations are Thailand(70.86Million USD), China(26.13Million USD), Philippines(4.65Million USD). Cumulated to first 6 months of 2024, Micronesia's top import products are Fish; frozen, excluding fish fillets and other fish meat of heading 0304(106.55Million USD), Transmission apparatus; parts suitable for use solely or principally with the apparatus of heading no. 8524 to 8528(2.47Million USD), Fish fillets and other fish meat (whether or not minced); fresh, chilled or frozen(1.88Million USD), and top import origins areUnited States(17.77Million USD), China(12.82Million USD), Taiwan CN(7.52Million USD).