The Pacific Community (SPC)’s experts in economic statistics have provided technical assistance to the small-island nation of Nauru in the tracking of its international merchandise trade, as the country pursues economic development and diversification.
SPC’s Statistics for Development Division has collaborated with Nauru’s Bureau of Statistics, Customs Services and Department of Finance in a technical assistance mission to develop its international merchandise trade statistics (IMTS).
Providing detailed information on the flow of goods across national borders, IMTS serve as crucial indicators for informed economic policy, planning and investment by capturing both the monetary value and physical quantity of traded commodities.
SPC’s statistics experts worked with Nauru’s agencies on the performance of its IMTS from 2017 through to the first quarter of 2024, supporting the provision of information essential for analysing the nation’s economic performance, trade balances and international market trends. Australia is Nauru’s principal trading partner.
The support to Nauru’s Government was led by senior economic statistician Ms Nilima Lal, Statistics Adviser with SPC. The Micronesian country faces several challenges from an economic standpoint, explains Ms Lal.
“Nauru imports most of its goods,” she comments. “Its main export, phosphate, has declined and will continue to do so. With its natural beauty and cultural heritage, Nauru’s Department of Finance is focused on strengthening the island’s international tourism industry.”
Following its partnership with SPC, Nauru’s Bureau of Statistics can now source data from its Customs Services—who, from October 2023, have adopted the use of the United Nations Conference on Trade and Development’s Automated System for Customs Data (‘ASYCUDA’).
Designed to streamline customs procedures globally, ASYCUDA enables the efficient clearance of goods through standardised electronic documentation, meaning easier trade and compliance with international regulations across participating states.
Prior to this, Nauru sourced data from partner countries, which took more than 12 months to compile and release. With this new development, the Bureau of Statistics can compile IMTS by months, on a timelier basis—and will also be able to show the breakdown of IMTS by the mode of transport used in trade.
“With all peoples, economies and environments benefitting from better data for evidence-based decision-making, we were pleased to partner with Nauru on its IMTS improvements in support of sustainable development,” said Ms Lal.
