Trade Trend

In 2023, Palau's total export value is 5.73Million USD, total import value is 216.47Million USD, Deficit is -210.73Million USD, and foreign trade dependency is 0.845. In 2023，Palau's top export products are Vessels and other floating structures; for breaking up(3.13Million USD), Ferrous waste and scrap; remelting scrap ingots of iron or steel(396.83Thousands USD), 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(381.03Thousands USD), top export destinations are India(2.08Million USD), Turkey(1.43Million USD), United States(566.09Thousands USD). In 2023, Palau's top import products are Yachts and other vessels; for pleasure or sports, rowing boats and canoes(54.36Million USD), 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(40.21Million USD), Commodities not specified according to kind(14.35Million USD), top import origins are Italy(53.90Million USD), China(42.01Million USD), Turkey(30.15Million USD).

Comparing to 2022, Palau's total export value decreased -2.38Million USD(-29.32%) in 2023, this could result from its export decreases of products such as Automatic data processing machines and units thereof, magnetic or optical readers, machines for transcribing data onto data media in coded form and machines for processing such data, not elsewhere specified or included(-2.01Million USD or -89.57%), Cruise ships, excursion boats, ferryboats, cargo ships, barges and similar vessels for the transport of persons or goods(-1.13Million USD or -91.33%), Commodities not specified according to kind(-219.59Thousands USD or -89.22%) and export decreases to countries/economics such as Greece(-2.01Million USD or -94.94%), Japan(-1.70Million USD or -84.15%), France(-1.38Million USD or -99.10%). Comparing to 2022, Palau's total import value increased 33.65Million USD(18.40%) in 2023, this could result from its import increases of products such as Yachts and other vessels; for pleasure or sports, rowing boats and canoes(44.66Million USD or 460.19%), None(10.50Million USD or 394.98%), 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(8.28Million USD or 25.91%), and its import increases from countries/economies such as Italy(44.94Million USD or 501.98%), Turkey(18.82Million USD or 166.21%), Brazil(1.96Million USD or 1.31Thousands%).

Cumulated to first 6 months of 2024, Palau's total export value is 6.21Million USD, total import value is 62.16Million USD, and tradedeficit is -55.95Million USD. Cumulated to first 6 months of 2024, Palau's top export products are Cruise ships, excursion boats, ferryboats, cargo ships, barges and similar vessels for the transport of persons or goods(3.02Million USD), Lightvessels, firefloats, dredgers, floating cranes, other vessels; the navigability of which is subsidiary to main function; floating docks, floating, submersible drilling, production platforms(1.50Million USD), Commodities not specified according to kind(436.23Thousands USD), and top export destinations are Greece(3.10Million USD), Turkey(1.57Million USD), United States(1.02Million USD). Cumulated to first 6 months of 2024, Palau's top import products are Cruise ships, excursion boats, ferryboats, cargo ships, barges and similar vessels for the transport of persons or goods(3.02Million USD), Lightvessels, firefloats, dredgers, floating cranes, other vessels; the navigability of which is subsidiary to main function; floating docks, floating, submersible drilling, production platforms(1.50Million USD), Commodities not specified according to kind(436.23Thousands USD), and top import origins areChina(19.01Million USD), Japan(9.82Million USD), United States(8.58Million USD).