COVID-19 impact

The monthly survey collects data in real-time and tracks how SMEs have been riding through the socio-economic turbulence since the pandemic made contact in the region in April 2020.

Newly appointed Trade Commissioner of the Pacific Trade Invest New Zealand office, Glynis Miller said “the results are not surprising as they do reflect real challenges faced by a large majority of SMEs.”

From data gathered in January, the fiscal and emotional impact of not knowing when the crisis will abate is taking its toll.

Over three quarters (77 percent) of female-owned/led businesses reported a significant decline in revenue in contrast to 65 percent of male-owned/led businesses.

The results were published in a women-focused report in Pacific Trade Invest (PTI) Pacific Business Monitor.

The PTI Pacific Business Monitor is a regular survey that tracks the sentiment of businesses from across the Pacific region.

The acting Trade Commissioner, Glynis Miller, said investment was a key driver of sustainable economic growth and the Pacific needed foreign direct investment.

The organisation said this was more important than ever given the Pacific's reliance on tourism and the way the sector had been decimated by the coronavirus pandemic.

Chief Investment Officer, Manuel Valdez, said Pacific Trade Invest New Zealand held a rich database of information on what he called "bankable investment projects" across several industries.

The results have been published in the fourth  PTI Pacific Business Monitor Report.  The PTI Pacific Business Monitor is a regular survey that tracks the sentiment of businesses from across the Pacific region.

Approximately 60 percent of the raw material for the global tuna canning market comes from the WCPO. There are two reasons why COVID-19’s impact on the tuna industry should be monitored.

First, shelf-stable foods, such as canned tuna, have taken on a new level of significance for food security. Second, Pacific island countries are dependent on revenues from the licensing of fishing vessels.