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Report: Value of Goods Imported in February Falls compared to 2018

Fiji’s total value of goods imported in February this year has dropped compared to last February, according to the international merchandise trade report . The report provides statistical information and
05 May 2019 17:38
Report: Value of Goods Imported in February Falls compared to 2018
Importing

Fiji’s total value of goods imported in February this year has dropped compared to last February, according to the international merchandise trade report .

The report provides statistical information and analysis of the value, volume and price of Fiji’s merchandise exports and imports by commodity and by partner country. This report is closely watched for trends in the movement of the balance of payments. The report also provides key insight into the trade balance component of the GDP release.

With data collated by our Fiji Bureau of Statistics, Fiji’s International merchandise trade statistic is being calculated as at February 2019. Provisional data put the total value of goods imported in February 2019 at $361.0 million while the value of total exports was $160.8 million. (Refer to graph I)

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Compared to February 2018, total imports decreased by $23.2 million whereas total exports increased by $7.6 million. The February 2019 trade deficit amounted to $200.2 million compared to $393.8 million a month earlier (January).
Imports

Compared to February 2018, the import category recording a notable increase was:

1. Mineral products [HS 25-27], up by $27.6 million to $83.1 million due to increased imports of gas-oil (diesel) and light oils and preparations (motor spirit).

Compared to February 2018, the import categories recording notable decreases were:

1. Vehicles, aircraft and associated transport equipment [HS 86-89], down by $34.2 million to $29.9 million due to decreased imports of airplanes and other aircraft and new motor vehicles for the transport of goods; and

2. Plastic, rubber and articles thereof [HS 39-40], down by $6.0 million to $19.9 million due to decreased imports of other conveyor belts or belting and other laminated plates and sheets, hard.

For the month of February 2019, Fiji’s major sources of imports (Refer to graph III) were:

  • Singapore, up by $17.0 million to $75.7 million due to increased imports of gas-oil (diesel) and light oils and preparations (motor spirit);
  • China – People’s Republic, down by $10.5 million to $60.6 million due to decreased imports of other boards, panels, consoles, desks and cabinets and other conveyor belts or belting;
  • Australia, down by $4.0 million to $60.6 million due to decreased imports of tugs and pusher craft;
  • New Zealand, down by $3.6 million to $52.7 million due to decreased imports of cement clinkers; and
  • Korea, Republic of, up by $8.3 million to $21.0 million due to increased imports of residual fuel oil and gas-oil (diesel).

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Domestic exports

Compared to February 2018, the domestic export category recording a notable increase was:

1. Prepared foodstuffs, beverages, spirits and tobacco [HS 16-24], up by $6.4 million to $32.3 million due to increased domestic exports of mineral water and sweet biscuits.

Compared to February 2018, there were no notable decreases for domestic export category.

For the month of February 2019, Fiji’s major domestic export destinations were:

  • United States of America, up by $2.5 million to $25.4 million due to increased exports of mineral water;
  • Japan, up by $0.4 million to $17.7 million due to increased exports of non-coniferous wood in chips or particles;
  • *Australia, down by $3.5 million to $16.7 million due to decreased exports of gold;
  • New Zealand, up by $2.4 million to $7.0 million due to increased exports of other medicaments and other textile materials; and
  • Tuvalu, up by $2.9 million to $4.1 million due to increased exports of other portland cement and pebbles, gravel, broken, or crushed stone, commonly used for concrete aggregated, for road metalling.

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Re-exports

Compared to February 2018, the re-export category recording a notable increase was:

1. Mineral products [HS 25-27], up by $13.2 million to $37.6 million due to increased re-exports of gas-oil (diesel) and aviation turbine fuel.

Compared to February 2018, the re-export category recording a notable decrease was:

1. Prepared foodstuffs, beverages, spirits and tobacco [HS 16-24], down by $6.6 million to $4.6 million due to decreased re-exports of cigarettes containing tobacco and other smoking tobacco, whether or not containing tobacco substitute in any portion.

For the month of February 2019, Fiji’s major re-export destinations were:

  • Tonga, up by $0.1 million to $4.2 million due to increased re-exports of gas-oil (diesel) and light oils and preparations (motor spirit);
  • New Zealand, down by $1.8 million to $4.1 million due to decreased re-exports of containers for compressed or liquefied gas of iron or steel and other aerial and aerial reflectors of all kinds;
  • United States of America, up by $2.9 million to $3.8 million due to increased re-exports of tuna and television cameras, digital cameras and video camera recorders;
  • Cook Islands, up by $0.6 million to $3.4 million due to increased re-exports of gas-oil (diesel); and
  • Kiribati, up by $0.8 million to $2.3 million due to increased re-exports of telephones of cellular networks or for other wireless networks.

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