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Export Micronesia forms one of the chief aspects of the economy of Micronesia. Based primarily on farming and fishing, the country's economy is on its way to development. Exports of Micronesia include mostly agricultural products. Micronesia exports are one of the key sources of foreign revenue in the country.
Yearly exports of Micronesia are worth approximately $14 million. The export products of Micronesia include fish, bananas, garments, black pepper, betel nut, sakau etc. The export partners of Micronesia are Japan, Guam and United States. Micronesia exports besides being a deciding factor of the country's GDP and GNP also affect the nations economic relations with other countries.
With very little to export and with a developing economy, Micronesia is largely dependent on imports. While exports are worth $14 million, the imports cost the country $ 132.7 million. Thus, it can be clearly delineated that the exports, together with the imports, decide the country's balance of Payment and deficits.
The companies producing marine products and agricultural products provide the maximum contribution to the country's exports. The yearly exports Micronesia determine the development of the country. Thus, they serve as indicators of economic growth in Micronesia.
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