May 26, 2021
The COVID-19 epidemic in French Polynesia has impacted the value of local imports and exports, especially that of pearls, observes the Institute of Statistics (ISPf) over the period of the first quarter of 2021.
In the first three months of the year, the value of civilian imports fell 4% while that of local exports jumped 45%.
On the import side, imports of petroleum products were the most impacted, falling by 34% in value – for a total of 3.6 billion against 5.4 a year earlier – and by 2% in volume. “The notable drop in hydrocarbon prices is linked to the health crisis which has had a direct impact on supply and demand” , underlines the ISPf.
Regarding exports, it is pearl products that achieve the best deal for a turnover multiplied by three, from 451 million Fcfp to 1.197 billion. And the ISPf to explain:“In 2020, two laws in the country suspended the collection of the“ Specific duty on exported pearls ”(DSPE). Editor’s note: DSPE recently restored. Following this suspension, negative effects were noted: on the one hand the drop in the average price of pearls to 145 F / g (which could be explained by the financial difficulties of international customers and their request to deduct the amount of the DSPE of the purchase price of the pearl) and, on the other hand, the windfall effect created by the suspension of the DSPE thus leading to the export to international markets of a considerable volume of low-grade pearls. quality (formerly considered as scrap). Thus, exports of raw cultured pearls are 2.5 times higher in value and 7.5 times higher in volume than in the first quarter of 2020 ”.
Other products are also doing well: vanilla (+ 10.9%) and copra oil (+ 4%) while the sale of fish and shellfish fell by 26.5%.
Source: ISPf
Newsessentials Blog 
Posted on May 29, 2021
0