International Trade in Services

FBoS Release No: 09, 2015

13th March 2015


December Quarter 2014

itsDec14a

Provisional data valued Fiji’s export of services in the December quarter of 2014 at $643.4 million. This was an increase of $63.5 million (11.0%) when compared to the December quarter of 2013. The estimated value of services imported in the same period was $327.0 million, an increase of $30.4 million (10.2%) when compared to the December quarter of 2013.

The trade in services surplus for the December quarter of 2014 amounted to $316.4 million, $33.1 million (11.7%) more than the $283.3 million surplus of a year earlier.

 

itsDec14b

In the December quarter of 2014, services recording a surplus were: (Refer to Graph II)

  • Travel services, a surplus of $327.6 million, an increase of $24.4 million when compared to the December quarter of 2013 reflecting higher earnings from tourism;
  • Government services, a surplus of $55.0 million, an increase of $3.4 million when compared to the December quarter of 2013.This was a result of higher receipts of funds by International Agencies based in Fiji;
  • Manufacturing services, a surplus of $6.0 million, a decrease of $0.4 million when compared to the December quarter of 2013 reflecting lower earnings from goods processed in Fiji;
  • Maintenance and repair services, a surplus of $4.3 million, an increase of $3.4 million when compared to the December quarter of 2013 due to higher earnings for the repair of goods and
  • Financial services, a surplus of $2.0 million, an increase of $0.2 million when compared to the December quarter of 2013 reflecting higher receipts for services provided by financial institutions.

 

 

 

In the December quarter of 2014, services recording a deficit were: (Refer to Graph II)

 

  • Transportation services, a deficit of $29.1 million, a decrease of $22.4 million when compared to the December quarter of 2013 mainly attributed to an increase in the receipts of international air passenger;
  • Insurance services, a deficit of $23.4 million, an increase of $2.9 million when compared to the December 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 $12.9 million, an increase of $9.0 million when compared to the December quarter of 2013 reflecting higher payments for computer and information services;
  • Other business services, a deficit of $10.1 million, an increase of $8.7 million when compared to the December quarter of 2013 reflecting higher payments for technical, trade related and other business services;
  • Charges for the use of intellectual property services, a deficit of $1.6 million, an increase of $0.5 million when compared to the December quarter of 2013 due to royalty and license fee payments and
  • Personal, cultural & recreational services, a deficit of $1.4 million, an increase of $0.2 million when compared to December quarter of 2013 reflecting higher payments of fees for other personal, cultural and recreational services.

 

 

Annual 2014

itsDec14c

Provisional data valued Fiji’s export of services for 2014 at $2,412.4 million and an estimated value of services imported in the same period was $1,274.4 million. (Refer to Graph III)

Compared to 2013 export of services increased by $165.1 million (7.3%) and the estimated value of services imported increased by $148.2 million (13.2%).

The trade in services surplus in 2014 amounted to $1,138.0 million, $16.9 million (1.5%) more than the 2013 surplus of $1,121.1 million.

 

In 2014, services recording a surplus were: (Refer to Graph IV)

  • Travel services, a surplus of $1,250.5 million, an increase of $104.6 million when compared to 2013 reflecting higher earnings from tourism;
  • Government services, a surplus of $192.9 million, an increase of $4.7 million when compared to 2013 resulting from an increase in funds received by International Agencies based in Fiji;
  • Manufacturing services, a surplus of $23.4 million, a decrease of $0.4 million when compared to 2013 reflecting lower earnings from goods processed in Fiji;
  • Maintenance and repair services, a surplus of $8.2 million, an increase of $5.1 million when compared to 2013 due to higher earnings for the repair of goods and
  • Financial services, a surplus of $8.2 million, an increase of $2.7 million when compared to 2013 reflecting higher receipts for services provided by financial institutions.

 

itsDec14d

In 2014, services recording a deficit were: (Refer to Graph IV)

  • Transportation services, a deficit of $142.8 million, an increase of $28.5 million when compared to 2013 mainly driven by higher payments of international sea freight services;
  • Insurance services, a deficit of $88.6 million, an increase of $9.3 million when compared to 2013 due to insurance paid on imported goods to cover for damage or complete loss of freight;
  • Telecommunication, computer and information services, a deficit of $63.6 million, an increase of $43.1 million when compared to 2013 reflecting higher payments for telecommunication, computer and information services;
  • Other Business services, a deficit of $34.9 million, an increase of $13.0 million when compared to 2013 reflecting higher payments for professional and management consultation services;
  • Personal, cultural & recreational services, a deficit of $7.3 million, an increase of $4.1 million when compared to 2013 reflecting higher payments of fees for audio visual and other personal, cultural and recreational services;
  • Charges for the use of intellectual property services, a deficit of $5.1 million, an increase of $0.8 million when compared to 2013 due to royalty and license fee payments and
  • Construction services, a deficit of $2.9 million, an increase of $1.0 million when compared to 2013 reflecting higher payments for the construction work received from abroad.

 

 

 

 

 

 

For more information on International Trade in Services Statistics refer to the following tables:

Click here for related tables

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 the March quarter of 2015 will be available in June 2015.