International Trade in Services

FBoS Release No: 68, 2015
14th October 2015


itsJun15a

Provisional data valued Fiji’s export of services in the June quarter of 2015 at $627.0 million. This was an increase of $57.1 million (10.0%) when compared to a year earlier. The estimated value of services imported in the same period was $284.9 million, a decrease of $14.1 million (4.7%) when compared to the June quarter of 2014.

The trade in services surplus for the June quarter of 2015 amounted to $342.1 million, $71.2 million (26.3%) more than the surplus of $270.9 million recorded a year earlier.

 

 

itsJun15bIn the June quarter of 2015, services recording a surplus were: (Refer to Graph II)

  • Travel services, a surplus of $333.2 million, an increase of $40.9 million when compared to the June quarter of 2014 reflecting higher earnings from tourism;
  • Government services, a surplus of $29.7 million, a decrease of $9.7 million when compared to the June quarter of 2014. This was a result of lower receipts of funds received by International Agencies based in Fiji;
  • Transportation services, a surplus of $15.2 million, an increase of $24.9 million when compared to the June quarter of 2014 reflecting higher receipts of international sea freight;
  • Manufacturing services, a surplus of $4.7 million, a decrease of $1.8 million when compared to the June quarter of 2014 reflecting lower earnings from goods processed in Fiji;
  • Financial services, a surplus of $2.0 million, a decrease of $0.3 million when compared to the June quarter of 2014 reflecting lower receipts for services provided by financial institutions and
  • Construction services, a surplus of $0.6 million, an increase of $2.0 million when compared to the June quarter of 2014 due to higher earnings for construction works carried out abroad.

 

 

 

 

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

  • Insurance services, a deficit of $18.7 million, a decrease of $2.9 million when compared to the June quarter of 2014 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 $13.4 million, a decrease of $9.1 million when compared to the June quarter of 2014 reflecting payments for computer and information services;
  • Other business services, a deficit of $6.8 million, a decrease of $6.0 million when compared to the June 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 $2.5 million, an increase of $1.1 million when compared to the June quarter of 2014 due to royalty and license fee payments;
  • Personal, cultural & recreational services, a deficit of $1.7 million, a decrease of $0.1 million when compared to the June quarter of 2014 reflecting payments of fees for audio visual and related services and
  • Maintenance and repair services, a deficit of $0.2 million, an increase of $1.8 million when compared to the June quarter of 2014 due to payments for the repair of goods.

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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 September quarter of 2015 will be available in December 2015.

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