Niue is a beneficiary of the EU's Standard GSP. The small island economy did not make use of its preferential access to the European market in recent years. Total EU imports from Niue in 2021 amounted to € 1 million. About 8% of these imports are eligible for reduced tariffs granted by the GSP, however Niue did not take advantage of GSP preferences in 2021.
The Standard GSP targets developing countries that are classified by the World Bank as lower or lower-middle income countries and which do not have equal preferential access to the EU market through any other arrangement. Standard GSP beneficiary countries can benefit from duty suspension for non-sensitive products as well as duty reductions for sensitive products across approximately 66% of all EU tariff lines.
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Niue is a small island economy in the South Pacific Ocean. The country faces significant restrictions due its remote location, small domestic market, and limited resources. This leaves Niue largely dependent on financial support from New Zealand.
Niue's most important export products are ships and boats followed by coins and optical instruments. The sale of postage stamps to foreign collectors is another important source of revenues.
Niue mostly engages in regional trade, with Indonesia being the most important destination for Niue's export products. Other important, though minor export markets for Niue's products are the Czech Republic and the United States.
Agriculture is the main pillar of Niue's economy, particularly the cultivation of passion fruits, coconuts, pawpaw, and limes. The processing of these agricultural products is one of the few manufacturing activities in the island.
Only a small fraction, about 8%, of Niue's exports to the European market are eligible for reduced tariffs granted under the Standard GSP. Between 2017 and 2020 there were no imports from Niue which made use of the preferential market access.
Overall trade with the EU was € 1 million in 2021.
Only about 1% of Niue's exports are eligible for GSP preferences.
Niue currently does not make use of preferences granted under the EU's GSP.
As a beneficiary of the Standard GSP, Niue's preferential market access is not bound to the ratification of international conventions. Out of all 15 core conventions on human rights and labour standards, Niue has only ratified the Convention on the Rights of the Child. Furthermore, Niue has ratified 6 international environmental protection conventions and 2 conventions on good governance.
The EU assisted Niue with about € 300,000 between 2014 and 2020. The main focus of the bilateral assistance was on renewable energy. Activities included support for the increase of renewable energy production and overall promotion of energy efficiency.
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