Micronesia is the 204th export economy in the world. In 2015, Micronesia exported $20.6M and imported $162M, resulting in a negative trade balance of $142M. In 2015 the GDP of Micronesia was $314M and its GDP per capita was $3.5k.
The top exports of Micronesia are Non-fillet Frozen Fish ($15.5M), Fish Fillets ($1.79M), Broadcasting Equipment ($849k), Molluscs ($453k) and Electric Motors ($242k), using the 1992 revision of the HS (Harmonized System) classification. Its top imports are Refined Petroleum ($51.8M), Fishing Ships ($11.5M), Passenger and Cargo Ships ($6.4M), Rice ($4.64M) and Poultry Meat ($3.77M).
The top export destinations of Micronesia are Thailand ($11.3M), Japan ($4.34M), China ($1.3M), Saudi Arabia ($762k) and South Korea ($680k). The top import origins are South Korea ($46.4M), the United States ($33.9M), Japan ($20.5M), China ($14.5M) and Russia ($12.3M).
Many traditional foods including fish and coconut, taro and breadfruit products as well as pork and chicken are grown at the community level. However there is a large reliance on imported foods. Food is retailed through 3 main supermarkets in the retail space and provides small wholesaling function attached to their main retail form of business. These super markets Ace, A-One Mart and Yoshis are the main food importers into the country. They can along with other local entrepreneurs import additional food stocks and other items as required. (Source Observatory of Economic Complexity)
There is no food processing industry in FSM.
Supplies of bulk food will need to be imported to meet additional humanitarian requirements. The supermarket and hardware stores, given the diversity of products they import and the existing connections they have, will be able to import a wide range of goods for humanitarian response.
All other goods from computers and white goods, vehicles, plant and equipment and all spare parts are imported.
The type and quality of goods to be imported however will need to be monitored closely as lower quality cheaper goods are generally what is stocked throughout retail outlets.
Generic country information can be located from sources which are regularly maintained and reflect current facts and figures. For a general overview of country data related to the service and supply sectors, please consult the following sources:
The Observatory of Economic Complexity – MIT (OEC): (http://atlas.media.mit.edu/en/
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