INTERNATIONAL TRADE IN SERVICES - December 2015

FBoS Release No: 27, 2016
27th June 2016


December Quarter 2015

Provisional data valuitsDec15aed Fiji’s export of services in the December quarter of 2015 at $689.4 million. This was an increase of $46.5 million (7.2%) when compared to a year earlier. The estimated value of services imported in the same period was $280.9 million, a decrease of $17.0 million (5.7%) when compared to the December quarter of 2014. (Refer to Graph I)

The trade in services surplus for the December quarter of 2015 amounted to $408.5 million, $63.5 million (18.4%) more than the surplus of $345.0 million recorded a year earlier.

 

 

 

itsDec15b

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

  • Travel services, a surplus of $356.9 million, an increase of $29.3 million when compared to the December quarter of 2014 reflecting higher earnings from tourism;
  • Transportation services, a surplus of $41.4 million, an increase of $43.8 million when compared to the December quarter of 2014 reflecting higher receipts of international sea freight;
  • Government services, a surplus of $32.7 million, a decrease of $22.5 million when compared to the December quarter of 2014. This was a result of lower receipts of funds received by International Agencies based in Fiji;
  • Construction services, a surplus of $7.8 million, an increase of $7.8 million when compared to the December quarter of 2014 due to higher earnings for construction works carried out abroad;
  • Manufacturing services, a surplus of $6.7 million, an increase of $0.7 million when compared to the December quarter of 2014 reflecting higher earnings from goods processed in Fiji;
  • Financial services, a surplus of $2.1 million, an increase of $0.1 million when compared to the December quarter of 2014 reflecting higher receipts for services provided by financial institutions and
  • Maintenance and repair services, a surplus of $1.5 million, a decrease of $2.3 million when compared to the December quarter of 2014 due to lower receipts for the repair of goods.

 

 

 

 

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

  • Insurance services, a deficit of $20.2 million, a decrease of $1.0 million when compared to the December 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 $10.9 million, an increase of $0.8 million when compared to the December quarter of 2014 reflecting payments for business services such as other professional and management consultation fees;
  • Telecommunication, computer and information services, a deficit of $7.6 million, a decrease of $5.3 million when compared to the December quarter of 2014 reflecting payments for computer and information services;
  • Charges for the use of intellectual property, a deficit of $1.6 million, no change was recorded when compared to the December quarter of 2014 and
  • Personal, cultural & recreational services, a deficit of $0.3 million, a decrease of $1.1 million when compared to the December quarter of 2014 reflecting payments of fees for audio visual and related services.

 

Annual 2015

itsDec15c

Provisional data valued Fiji’s export of services for 2015 at $2,635.9 million and an estimated value of services imported in the same period was $1,144.7 million. (Refer to Graph III)

Compared to 2014 export of services increased by $225.9 million (9.4%) and the estimated value of services imported increased by $5.4 million (0.5%).

The trade in services surplus in 2015 amounted to $1,491.2 million, $220.5 million (17.4%) more than the 2014 surplus of $1,270.7 million.

 

 

In 2015, services recording a surplus were: (Refer to Graph IV)

  • Travel services, a surplus of $1,379.8 million, an increase of $129.1 million when compared to 2014 reflecting higher earnings from tourism;
  • Government services, a surplus of $123.0 million, a decrease of $70.1 million when compared to 2014 resulting from a decrease in funds received by International Agencies based in Fiji;
  • Transportation services, a surplus of $108.5 million, an increase of $127.1 million when compared to 2014 mainly driven by higher receipts of international air passenger services;
  • Manufacturing services, a surplus of $23.9 million, an increase of $0.6 million when compared to 2014 reflecting higher earnings from goods processed in Fiji;
    Construction services, a surplus of $12.5 million, an increase of $15.4 million when compared to 2014 reflecting higher receipts for the construction work provided abroad;
  • Maintenance and repair services, a surplus of $7.5 million, an increase of $1.1 million when compared to 2014 due to higher earnings for the repair of goods and
  • Financial services, a surplus of $7.3 million, a decrease of $0.9 million when compared to 2014 reflecting lower receipts for services provided by financial institutions.

In 2015, services recording a deficit were: (Refer to Graph IV)

itsDec15d

  • Insurance services, a deficit of $77.2 million, a decrease of $1.4 million when compared to 2014 due to insurance paid on imported goods to cover for damage or complete loss of freight;
  • Telecommunication, computer and information services, a deficit of $53.9 million, a decrease of $9.7 million when compared to 2014 reflecting payments for telecommunication, computer and information services;
  • Other Business services, a deficit of $29.2 million, a decrease of $5.8 million when compared to 2014 reflecting payments for professional and management consultation services;
  • Charges for the use of intellectual property services, a deficit of $7.2 million, an increase of $2.1 million when compared to 2014 due to royalty and license fee payments and
  • Personal, cultural & recreational services, a deficit of $3.8 million, a decrease of $3.4 million when compared to 2014 reflecting higher payments of fees for audio visual and other personal, cultural and recreational services.

 

 

 

 

 

 

 

 

 

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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 331 5822 (ext. 386 241) or direct line 323 0841.

The International Trade in Services Statistics for the March quarter of 2016 will be released as soon as the disaggregated data becomes available.