Cover IMF Working Papers
Pacific Island Countries: In Search of a Trade Strategy
Author: Hong Chen, Lanieta Rauqeuqe, Shiu raj Singh, Mr. Yiqun Wu, and Yongzheng Yang
Series:
IMF Working Papers
Volume/Issue:
Volume 2014: Issue 158
Language:
English
Publication Date:
21 Aug 2014
DOI:
https://doi.org/10.5089/9781498324342.001
ISBN:
9781498324342
ISSN:
1018-5941
Pages:
32
Keywords:
WP; PIC export; trade diversion; differentiated product; real GDP; Pacific island countries; trade; tourism; agriculture; inclusive growth; PIC merchandise import; destination PIC; PIC agriculture; PIC policymaker; export destination; trade performance; tourism product; trade growth; trade pattern; PIC economy; Exports; Imports; Comparative advantage; Trade balance; Global; Asia and Pacific; Australia and New Zealand; Pacific Islands; North America
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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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.
Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund