INTERNATIONAL TRADE IN SERVICES - March 2015

FBoS Release No: 55, 2015
11th September 2015


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Provisional data valued Fiji’s export of services in the March quarter of 2015 at $557.2 million. This was an increase of $58.7 million (11.8%) when compared to a year earlier. The estimated value of services imported in the same period was $284.0 million, an increase of $35.0 million (14.1%) when compared to the March quarter of 2014.

The trade in services surplus for the March quarter of 2015 amounted to $273.2 million, $23.7 million (9.5%) more than the surplus of $249.5 million recorded a year earlier.

 

 

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In the March quarter of 2015, services recording a surplus were: (Refer to Graph II)

  • Travel services, a surplus of $260.7 million, an increase of $9.1 million when compared to the March quarter of 2014 reflecting higher earnings from tourism;
  • Government services, a surplus of $37.5 million, an increase of $3.3 million when compared to the March quarter of 2014. This was a result of higher receipts of funds received by International Agencies based in Fiji;
  • Transportation services, a surplus of $16.2 million, an increase of $17.7 million when compared to the March quarter of 2014 reflecting higher receipts of international sea freight;
  • Manufacturing services, a surplus of $6.5 million, an increase of $2.9 million when compared to the March quarter of 2014 reflecting higher earnings from goods processed in Fiji;
  • Maintenance and repair services, a surplus of $3.3 million, an increase of $2.4 million when compared to the March quarter of 2014 due to higher earnings for the repair of goods;
  • Financial services, a surplus of $0.9 million, a decrease of $1.2 million when compared to the March quarter of 2014 reflecting lower receipts for services provided by financial institutions and
  • Construction services, a surplus of $0.2 million, an increase of $0.5 million when compared to the March quarter of 2014 due to higher earnings for construction works carried out abroad.

 

 

 

 

In the March quarter of 2015, services recording a deficit were: (Refer to Graph II)

  • Telecommunication, computer and information services, a deficit of $24.3 million, an increase of $9.2 million when compared to the March quarter of 2014 reflecting payments for computer and information services;
  • Insurance services, a deficit of $17.5 million, a decrease of $1.6 million when compared to the March quarter of 2014 due to insurance paid on imported goods to cover for the damage or complete loss of freight;
  • Other business services, a deficit of $8.5 million, an increase of $6.0 million when compared to the March quarter of 2014 reflecting payments for business services such as other professional and management consultation fees;
  • Charges for the use of intellectual property, a deficit of $1.5 million, an increase of $0.3 million when compared to the March quarter of 2014 due to royalty and license fee payments and
  • Personal, cultural & recreational services, a deficit of $0.3 million, a decrease of $2.9 million when compared to the March quarter of 2014 reflecting payments of fees for audio visual and related services.

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For further enquiries please contact Ms.Talica Naivota on email or telephone 331 5822
(ext. 386 241) or direct line 323 0841.
The International Trade in Services Statistics for the June quarter of 2015 will be available in September 2015.