Palau

Palau ranked No. 190 in total trade value through May with a total of $10.04 million. Exports totaled $9.89 million and Imports totaled $145,205, a surplus of $9.75 million.

U.S. trade with Palau rose to $9.11 million through May

Palau’s trade with the United States rose to $9.11 million through the first five months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 30.88 percent above its total trade during the same time period last year. U.S. exports to Palau increased 51.38 percent while U.S. imports from Palau fell 86.05 percent. The U.S. surplus with Palau was $8.82 million.

Through May, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Oakland, Calif.; No. 2 Port of Long Beach; No. 3 Port of Honolulu, Hawaii; No. 4 Low-Valued Imports and Exports; and No. 5 Port of Seattle, Wash.. During the same period the previous year, the top five were No. 1 Port of Oakland, Calif.; No. 2 Port of Long Beach; No. 3 Port of Honolulu, Hawaii; No. 4 Low-Valued Imports and Exports and No. 5 Port of Seattle, Wash.. In the current time period, the top five accounted for 90.72 percent of Palau’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Oakland, Calif. rose 51.48 percent to $3.33 million.
    Exports rose 51.48 percent to $3.33 million. There were no imports.
  • Trade with No. 2 Port of Long Beach rose 53.59 percent to $2.26 million.
    Exports rose 53.59 percent to $2.26 million. There were no imports.
  • Trade with No. 3 Port of Honolulu, Hawaii rose 12.15 percent to $1.51 million.
    Exports rose 13.68 percent to $1.51 million. There were no imports.
  • Trade with No. 4 Low-Valued Imports and Exports rose 34.86 percent to $1.42 million.
    Exports rose 34.86 percent to $1.42 million. There were no imports.
  • Trade with No. 5 Port of Seattle, Wash. rose 2.41 percent to $587,977.
    Exports rose 2.41 percent to $587,977. There were no imports.

Palau ranked No. 190 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 198.

Meanwhile, total U.S. trade with the world increased to $1.48 trillion, down 64.27 percent compared to the same period last year. The nation’s exports dropped 64.62 percent to $582.11 billion; imports dropped 64.04 percent to $898.44 billion. The nation’s top five countries so far this year, by value, are Canada; Mexico; China; Japan and Germany. The overall trade deficit was $316.33 billion, down compared to the same period of last year when the deficit was $853.23 billion.

The top five U.S. exports to Palau by value through May were the categories of Low value shipments; Medical furniture; Frozen beef; Self-propelled heavy construction machinery; and Prepared foods, beverages, respectively. They accounted for 46.91 percent of total exports to Palau.

The value of the top five categories of U.S. imports from Palau –– Live fish; Cell phones, related equipment; Estimates of low-value imports; Plastic plates, sheet, film; and Computer parts –– accounted for 100 percent of all inbound shipments.

Looking more closely at U.S. exports to Palau:

  • Low value shipments rose 34.86 percent compared to last year to $1.42 million.
  • Medical furniture totaled $1.1 million. The previous year, there were no exports in this category.
  • Frozen beef rose 14.79 percent compared to last year to $791,901.
  • Self-propelled heavy construction machinery totaled $728,768. The previous year, there were no exports in this category.
  • Prepared foods, beverages fell 9.64 percent compared to last year to $595,937.

Looking more closely at U.S. imports from Palau:

  • Live fish rose 50.08 percent compared to last year to $104,853.
  • Cell phones, related equipment totaled $23,548. The previous year, there were no imports in this category.
  • Estimates of low-value imports rose 7.36 percent compared to last year to $7,555.
  • Plastic plates, sheet, film totaled $6,652. The previous year, there were no imports in this category.
  • Computer parts fell 99.72 percent compared to last year to $2,597.

In the latest annual figures available, Palau recorded $21.06 million in trade with the United States. Total U.S. exports to Palau were $ 19.58 million and imports from Palau were $1.47 million. The U.S. surplus with Palau was $18.11 million.