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Federated States of Micronesia: Trade Profile

Foreign Trade in Figures

Micronesia is open to foreign trade. The country’s trade policy aims at establishing international economic relations for a global development of foreign trade, especially with the support of the United States.

Custom duties are generally low (with the exception of luxury items) and the country does not have any major trade barriers. All exports of products as well as re-exports of imported products are tax free. The government provides subsidized water and electrical services to all four states of the nation. Moreover, the labor force is young and relatively inexpensive. Micronesia's easy access by air and sea to major foreign markets such as the Pacific coast of the United States, New Zealand, Australia, and Guam is an advantage for the development of foreign trade.

Micronesia imports more than it exports, resulting in a chronic and large trade deficit, a situation which is not expected to change in the next few years. 

Micronesia's main trading partners are Australia, New Zealand and the United States.

To go further, check out our service Import export flows

Commercial Policy

Main International Economic Cooperation

Member of Pacific Islands Forum (PIF)

Signatory to 'South Pacific Regional Trade Economic Cooperation Agreement (SPARTECA)'

Assessment of Commercial Policy

Federated States of Micronesia and WTO

Average Customs Duty (Excluding Agricultural Products)

4%

List of tariffs and local taxes that apply to your product on our service Customs duties and local taxes

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Last Updates: February 2012