INTERNATIONAL TRADE IN SERVICES - September 2014

Release No: 78, 2014

5th December 2014


 

Provisional data valued Fiji’s export of services in the September quarter of 2014 at $697.4 million. This was an increase of $68.7 million (10.9%) when compared to the September quarter of 2013. The estimated value of services imported in the same period was $298.0 million, an increase of $29.7 million (11.1%) when compared to the September quarter of 2013.

The trade in services surplus for the September quarter of 2014 amounted to $399.4 million, $39.0 million (10.8%) more than the September quarter of 2013 surplus of $360.4 million.

  • Travel services, a surplus of $379.2 million, an increase of $25.5 million when compared to the September quarter of 2013 reflecting higher earnings from tourism;
  • Government services, a surplus of $64.3 million, an increase of $23.8 million when compared to the September quarter of 2013 resulting from an increase in funds received by International Agencies based in Fiji;
  • Manufacturing services, a surplus of $7.2 million, an increase of $0.7 million when compared to the September quarter of 2013 reflecting higher earnings from goods processed in Fiji and
  • Financial services, a surplus of $1.8 million, no change was recorded when compared to the September quarter of 2013.
    In the September quarter of 2014, services recording a deficit were: (Refer to Graph II)
  • Insurance services, a deficit of $21.2 million, an increase of $1.2 million when compared to the September quarter of 2013 due to insurance paid on imported goods to cover for the damage or complete loss of freight;
  • Telecommunication, computer and information services, a deficit of $13.7 million, an increase of $8.6 million when compared to the September quarter of 2013 reflecting higher payments for computer and information services;
  • Other business services, a deficit of $9.9 million, a decrease of $0.4 million when compared to the September quarter of 2013 reflecting payments for business services such as professional and management consultation and architectural, engineering fees;
  • Transportation services, a deficit of $5.6 million, an increase of $1.2 million when compared to the September quarter of 2013 mainly attributed to payments of international sea freight;
  • Construction services, a deficit of $1.2 million, a decrease of $0.1 million when compared to the September quarter of 2013 as a result of more construction works received from abroad; Personal, cultural & recreational services, a deficit of $0.8 million, an increase of $0.4 million when compared to the September quarter of 2013 reflecting payments of other personal, cultural and recreational services;
  • Charges for the use of intellectual property, a deficit of $0.4 million, a decrease of $0.7 million when compared to the September quarter of 2013 due to royalty and license fee payments and
  • Maintenance and repair services, a deficit of $0.3 million, an increase of $0.8 million when compared to the September quarter of 2013 due to lower earnings for the repair of goods.

The Technical Notes from the Manual on Statistics of International Trade in Services 2010 is included in Appendix 1.

For further enquiries please contact Ms Susana Vaioa on email or telephone 3230841.

The International Trade in Services Release for December quarter of 2014 will be available in March 2015.