INTERNATIONAL TRADE IN SERVICES - December & Annual 2016

FBoS Release No: 26, 2017
7th June 2017


December Quarter 2016

Fiji’s International Trade in Services Statistics [ITSS] provides information on the value of import and export of services between Fiji and the rest of the world. The information used in this release is from the International Trade in Services Survey and Administrative Sources.

itsDec16aKey Facts

  • Estimated Total Export of Services in the December quarter of 2016 was $767.7 million, an increase of $76.9 million (11.1%) when compared to a year earlier. (Refer to Graph 1)
  • Estimated Total Import of Services in the December quarter of 2016 was $318.6 million, an increase of $12.8 million (4.2%) when compared to a year earlier. (Refer to Graph 1)
  • A Surplus of $449.1 million was recorded in the December quarter of 2016, $64.1 million (16.6%) more than the surplus of $385.0 million recorded a year earlier.

 

 

 

 

 

Services recording surplus for the December quarter of 2016 were: (Refer to Graph 2)

  • itsDec16bTravel services, a surplus of $419.4 million, an increase of $61.9 million when compared to the December quarter of 2015 reflecting higher earnings from tourism;
  • Government services, a surplus of $44.0 million, an increase of $11.3 million when compared to the December quarter of 2015. This was a result of higher receipts of funds received by international agencies based in Fiji;
  • Transportation services, a surplus of $26.2 million, an increase of $7.4 million when compared to the December quarter of 2015 reflecting higher receipts of international air passenger;
  • Manufacturing services, a surplus of $4.8 million, a decrease of $1.9 million when compared to the December quarter of 2015 reflecting lower earnings from goods processed in Fiji;
  • Financial services, a surplus of $2.1 million, no change was recorded when compared to the December of quarter 2015;
  • Construction services, a surplus of $2.0 million, a decrease of $5.8 million when compared to the December quarter of 2015 due to lower earnings for construction works carried out abroad; and
  • Maintenance and repair services, a surplus of $0.6 million, a decrease of $1.7 million when compared to the December quarter of 2015 due to lower receipts for the repair of goods.

Services recording deficit for the December quarter of 2016 were: (Refer to Graph 2)

  • Insurance services, a deficit of $21.9 million, this represents a decrease in deficit of $0.1 million when compared to the December quarter of 2015 due to insurance paid on imported goods to cover for the damage or complete loss of freight;
  • Other business services, a deficit of $17.7 million, this represents an increase in deficit of $6.7 million when compared to the December quarter of 2015 reflecting payments for business services such as other professional and management consultation fees;
  • Telecommunication, computer and information services, a deficit of $4.9 million, this represents a decrease in deficit of $2.7 million when compared to the December quarter of 2015 reflecting payments for computer and information services;
  • Charges for the use of intellectual property, a deficit of $4.1 million, this represents an increase in deficit of $2.4 million when compared to the December quarter of 2015 due to royalty and license fee payments; and
  • Personal, cultural & recreational services, a deficit of $1.4 million, this represents an increase in deficit of $0.8 million when compared to the December quarter of 2015 reflecting payments of fees for audio visual and other personal, cultural and recreational services.

Annual 2016

itsDec16cKey Facts

  • Estimated Total Export of Services in 2016 was $2,681.5 million, an increase of $41.1 million (1.6%) when compared to a year earlier. (Refer to Graph 3)
  • Estimated Total Import of Services in 2016 was $1,205.7 million, an increase of $15.2 million (1.3%) when compared to a year earlier. (Refer to Graph 3)
  • A Surplus of $1,475.8 million was recorded in 2016, $25.9 million (1.8%) more than the surplus of $1,449.9 million recorded a year earlier.

 

 

 

 

 

Services recording surplus in 2016 were: (Refer to Graph 4)

  • itsDec16dTravel services, a surplus of $1,348.1 million, a decrease of $33.7 million when compared to 2015 reflecting lower earnings from tourism due to a decrease in the average length of stay of tourists;
  • Government services, a surplus of $150.7 million, an increase of $27.7 million when compared to 2015 resulting from an increase in funds received by International Agencies based in Fiji;
  • Transportation services, a surplus of $71.7 million, an increase of $4.9 million when compared to 2015 mainly driven by higher receipts of international air passenger;
  • Construction services, a surplus of $23.4 million, an increase of $10.9 million when compared to 2015 reflecting higher receipts for construction works provided abroad;
  • Manufacturing services, a surplus of $16.4 million, a decrease of $7.5 million when compared to 2015 reflecting lower earnings from goods processed in Fiji;
  • Financial services, a surplus of $8.1 million, an increase of $0.8 million when compared to 2015 reflecting higher receipts for services provided by financial institutions; and
  • Maintenance and repair services, a surplus of $1.2 million, a decrease of $7.1 million when compared to 2015 due to lower earnings for the repair of goods.

Services recording deficit in 2016 were: (Refer to Graph 4)

  • Insurance services, a deficit of $79.1 million, this represents a decrease in deficit of $1.5 million when compared to 2015 due to insurance paid on imported goods to cover for the damage or complete loss of freight;
  • Other Business services, a deficit of $72.9 million, this represents an increase in deficit of $44.7 million when compared to 2015 reflecting payments for professional and management consultation services;
  • Telecommunication, computer and information services, a deficit of $25.0 million, this represents a decrease in deficit of $28.3 million when compared to 2015 reflecting payments for telecommunication, computer and information services;
  • Charges for the use of intellectual property services, a deficit of $10.6 million, this represents an increase in deficit of $3.3 million when compared to 2015 due to royalty and license fee payments; and
  • Personal, cultural & recreational services, a deficit of $6.2 million, this represents an increase in deficit of $1.9 million when compared to 2015 reflecting payments of fees for audio visual and other personal, cultural and recreational services.

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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 2017 will be released as soon as the disaggregated data becomes available.