Synonyms
Brief Definition
Imports of goods: these are foreign goods purchased by the citizens of our country.
Exports of goods: these are the local goods purchased by the citizens in the foreign country.
Introduction
Trade in the Pacific Island countries (PICs) is characterized by heavy dependence on imports and a narrow base of exports (Pacific Island Forum Secretariat 2020). According to the Standard Trade Model, the differences in the factor inputs are the driver of production possibility frontiers and trade outcomes. Similarly, in the context of the PICs, geographical isolation, lack of resource, and factor inputs inhibit the export potential of the PICs. The level of intraregional trade is quite limited among the PICs, and it is expected to grow in the future. With the establishment of the Pacific Islands Forum (PIF), it is evident that the intraregional trade is likely to expand in the future (Pacific Island Forum Secretariat 2020)....
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Naidu, S. (2021). Fiji’s Intraregional Trade Outcomes. In: Farazmand, A. (eds) Global Encyclopedia of Public Administration, Public Policy, and Governance. Springer, Cham. https://doi.org/10.1007/978-3-319-31816-5_4351-1
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DOI: https://doi.org/10.1007/978-3-319-31816-5_4351-1
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