Export market on a volatile trend
May 6, 2021 4:24 pm
Kava exports have increased by $11m
International trade – particularly exports have been volatile lately, with some markets seeing an increase while others recorded major declines.
Investment Fiji’s Trade and Investment Manager, Kamal Chetty, says there is a demand for specific products with kava and woodchips among the most sought out commodity.
Chetty adds while kava exports have increased by $11m, with the United States being our major buyer, other markets have recorded major losses.
“But there are also some markets that have decreased in terms of export performances for Fiji. US has decreased by about $38m, mostly driven by mineral water. But in the US there are certain products that have increased like kava and also turmeric that have seen a lot of increase.”
Chetty says their latest figures indicate that Fiji’s trade and services are projected to decrease by nine percent.
“In terms of other markets that have decreased is Japan. Japan has also decreased by $17m due to woodchips. These are the kinds of performance at the moment if you look at Fiji.”
Analysis from the Fiji Bureau of statistics show domestic exports dropped by three percent mainly attributed to the impact of COVID-19.
Investment Fiji is conducting an ongoing e-trade expo to explore new trade markets and attract international investors.