Ascension Export Data

Ascension's Import/Export Overview and Domestic Market Update

Imports & Exports

• Top Trade Partners: Ascension's major trading partners include the United Kingdom, South Africa, and Portugal, reflecting its strategic location and historical ties.

• Top 5 Imports: Petroleum products, food, machinery, pharmaceuticals, and vehicles account for a significant portion of Ascension's imports, collectively comprising over 60% of total imports.

• Top 5 Exports: Fish, stamps, handicrafts, natural water, and agricultural products represent Ascension's main exports, making up nearly 80% of total export revenues.

• Trade Balance Analysis: Ascension maintains a consistent trade deficit, primarily due to its high import demands and limited export capabilities. Strategies are in place to boost local production and reduce reliance on imports.

• Trade Policy Snapshot: Ascension's trade policies focus on free trade agreements, duty-free imports for certain goods, and efforts to diversify its export base to achieve greater economic stability.

Domestic Market

• Consumer Spending Trends: Consumer spending in Ascension is robust, driven by a growing middle class and increased disposable income. However, spending patterns are sensitive to global market fluctuations.

• Interest Rates and Inflation: Inflation in Ascension has been moderate, influenced by global commodity prices. Interest rates are set to encourage savings and curb inflation, impacting borrowing and investment.

• Supply Chain Dynamics: The supply chain in Ascension is heavily reliant on imports, which can be disrupted by global shipping issues, leading to intermittent shortages and price volatility.

• Sectoral Performance: The fishing, tourism, and agricultural sectors are key contributors to Ascension's economy. The government is also promoting development in technology and renewable energy.

Overall Outlook

Ascension's economy, while facing challenges such as a trade deficit and supply chain vulnerabilities, is poised for growth through strategic diversification and targeted sectoral development. The government's commitment to sustainable practices and economic resilience is expected to yield positive long-term outcomes.