Tracking Trade from Space: An Application to Pacific Island Countries

Serkan Arslanalp, Robin Koepke and Jasper Verschuur

No 2021/225, IMF Working Papers from International Monetary Fund

Abstract: This paper proposes an easy-to-follow approach to track merchandise trade using vessel data and applies it to Pacific island countries. Pacific islands rely heavily on imports and maritime transport for trade. They are also highly vulnerable to climate change and natural disasters that pose risks to ports and supply chains. Using satellite-based vessel tracking data from the UN Global Platform, we construct daily indicators of port and trade activity for Pacific island countries. The algorithm significantly advances estimation techniques of previous studies, particularly by employing ways to overcome challenges with the estimation of cargo payloads, using detailed information on shipping liner schedules to validate port calls, and applying country-specific information to define port boundaries. The approach can complement and help fill gaps in official data, provide early warning signs of turning points in economic activity, and assist policymakers and international organizations to monitor and provide timely responses to shocks (e.g., COVID-19).

Keywords: Merchandise trade Data; I. Pacific island; liner shipping connectivity index; Merchandise import; supply disruption; Imports; Natural disasters; COVID-19; Trade balance; Tourism; Pacific Islands; Global; port boundary; port call; vessel data (search for similar items in EconPapers)
Pages: 40
Date: 2021-08-20
New Economics Papers: this item is included in nep-big, nep-env, nep-int and nep-tre
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