Pacific Island Countries: In Search of a Trade Strategy

By Hong Chen, Lanieta Rauqeuqe, Shiu raj Singh, Yiqun Wu, Yongzheng Yang

August 21, 2014

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Hong Chen, Lanieta Rauqeuqe, Shiu raj Singh, Yiqun Wu, and Yongzheng Yang. Pacific Island Countries: In Search of a Trade Strategy, (USA: International Monetary Fund, 2014) accessed November 21, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

International trade is vital for economic prosperity in Pacific island countries, but their trade performance has been weak over the past decade with the exception of resource-rich countries. Small country size and remoteness from global economic centers may have contributed to this relatively poor performance. However, the emergence of Asia as a global economic center presents Pacific island countries with an unprecedented opportunity to develop trade with Asia, particularly in tourism for a number of PICs. Moreover, if a strong two-way linkage is established between tourism and agriculture, Pacific island countries stands a better chance to improve broad-based growth.

Subject: Comparative advantage, Economic sectors, Exports, Imports, International trade, Tourism, Trade balance

Keywords: Agriculture, Asia and Pacific, Australia and New Zealand, Comparative advantage, Destination PIC, Differentiated product, Export destination, Exports, Global, Imports, Inclusive growth, North America, Pacific island countries, Pacific Islands, PIC agriculture, PIC economy, PIC export, PIC merchandise import, PIC policymaker, Real GDP, Tourism, Tourism product, Trade, Trade balance, Trade diversion, Trade growth, Trade pattern, Trade performance, WP

Publication Details

Pages:

32
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2014/158
Stock No:

WPIEA2014158
ISBN:

9781498324342
ISSN:

1018-5941

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