Fiji - Travel services (% of commercial service imports)

The value for Travel services (% of commercial service imports) in Fiji was 15.44 as of 2020. As the graph below shows, over the past 41 years this indicator reached a maximum value of 32.79 in 1987 and a minimum value of 13.31 in 1981.

Definition: Travel services (% of commercial service imports) covers goods and services acquired from an economy by travelers in that economy for their own use during visits of less than one year for business or personal purposes. Travel services include the goods and services consumed by travelers, such as lodging, meals, and transport (within the economy visited).

Source: International Monetary Fund, Balance of Payments Statistics Yearbook and data files.

See also:

Year Value
1979 15.66
1980 15.25
1981 13.31
1982 14.07
1983 14.91
1984 15.96
1985 15.26
1986 17.04
1987 32.79
1988 20.67
1989 19.73
1990 17.04
1991 17.40
1992 15.88
1993 15.76
1994 18.14
1995 17.39
1996 17.99
1997 18.10
1998 15.58
1999 18.08
2000 25.06
2001 22.46
2002 19.55
2003 17.56
2004 19.80
2005 20.13
2006 19.15
2007 17.98
2008 14.98
2009 20.47
2010 19.78
2011 18.39
2012 16.28
2013 15.44
2014 15.06
2015 19.18
2016 19.48
2017 20.00
2018 20.73
2019 21.24
2020 15.44

Development Relevance: Trade in services differs from trade in goods because services are produced and consumed at the same time. Thus services to a traveler may be consumed in the producing country (for example, use of a hotel room) but are classified as imports of the traveler's country. In other cases services may be supplied from a remote location; for example, insurance services may be supplied from one location and consumed in another.

Limitations and Exceptions: Balance of payments statistics, the main source of information on international trade in services, have many weaknesses. Disaggregation of important components may be limited and varies considerably across countries. There are inconsistencies in the methods used to report items. And the recording of major flows as net items is common (for example, insurance transactions are often recorded as premiums less claims). These factors contribute to a downward bias in the value of the service trade reported in the balance of payments. Efforts are being made to improve the coverage, quality, and consistency of these data. Eurostat and the Organisation for Economic Co-operation and Development, for example, are working together to improve the collection of statistics on trade in services in member countries. Still, difficulties in capturing all the dimensions of international trade in services mean that the record is likely to remain incomplete. Cross-border intrafirm service transactions, which are usually not captured in the balance of payments, have increased in recent years. An example is transnational corporations' use of mainframe computers around the clock for data processing, exploiting time zone differences between their home country and the host countries of their affiliates. Another important dimension of service trade not captured by conventional balance of payments statistics is establishment trade - sales in the host country by foreign affiliates. By contrast, cross-border intrafirm transactions in merchandise may be reported as exports or imports in the balance of payments.

Statistical Concept and Methodology: The balance of payments (BoP) is a double-entry accounting system that shows all flows of goods and services into and out of an economy; all transfers that are the counterpart of real resources or financial claims provided to or by the rest of the world without a quid pro quo, such as donations and grants; and all changes in residents' claims on and liabilities to nonresidents that arise from economic transactions. All transactions are recorded twice - once as a credit and once as a debit. In principle the net balance should be zero, but in practice the accounts often do not balance, requiring inclusion of a balancing item, net errors and omissions. The concepts and definitions underlying the data are based on the sixth edition of the International Monetary Fund's (IMF) Balance of Payments Manual (BPM6). Balance of payments data for 2005 onward will be presented in accord with the BPM6. The historical BPM5 data series will end with data for 2008, which can be accessed through the World Development Indicators archives. The complete balance of payments methodology can be accessed through the International Monetary Fund website (www.imf.org/external/np/sta/bop/bop.htm).

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Private Sector & Trade Indicators

Sub-Topic: Imports