The latest information on pearl farming in Tahiti.
18/12/2024
In its latest report dedicated to foreign trade in the third quarter of 2024, the Institut de la Statistique en Polynésie Française - ISPF - highlights a clear slowdown in pearl exports. After the exceptional performances recorded during the third and fourth quarters of 2023, exports have now returned to their usual average levels.
During the third quarter of 2024, civilian imports in French Polynesia increased by 14% compared with the same period in 2023. This rise marks a break from the relative stability observed since the beginning of 2024 and reflects a renewed momentum in trade activity. Imported goods continue to play a central role in the functioning of the local economy.
At the same time, local exports recorded a sharp decline. They decreased by 54% compared with the previous year. Over the whole of 2024, the cumulative decline reached 36%, illustrating a significant slowdown in export activity.
This development is largely explained by the normalization of the pearl market. After an exceptionally favorable period at the end of 2023, exports from the pearl farming sector have returned to levels closer to their average.
An emblematic product of the Polynesian economy, the cultured pearl remains a pillar of exports, but its contribution now appears less pronounced than in the previous year. After the strong growth observed in the second half of 2023, the market now appears "stabilized, but contributes less to the overall export economy," according to the ISPF.