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2023
Product
Exports | Imports $5.87M | $13.1M219 of 226 |  225 of 226

About

Overview In 2023 Cocos (Keeling) Islands was the number 219 economy in the world in terms of total exports and the number 225 in total imports.

Exports The top exports of Cocos (Keeling) Islands are Passenger and Cargo Ships ($1.36M), Motor vehicles; parts and accessories (8701 to 8705) ($904k), Office Machine Parts ($253k), Telephones ($161k), and Pasta ($135k), exporting mostly to United States ($1.83M), Singapore ($1.68M), United Kingdom ($676k), Australia ($199k), and Brazil ($190k).

Imports The top imports of Cocos (Keeling) Islands are Iron Structures ($1.16M), Special purpose motor vehicles ($1.14M), Cars ($1M), Other Sea Vessels ($489k), and Aluminium Structures ($377k), importing mostly from Australia ($11.4M), United States ($435k), Philippines ($218k), Sweden ($200k), and Brazil ($184k).

Latest Trends

Latest Trade

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Y-AXIS SCALE

The following section uses the most recent trade data from partners of Cocos (Keeling) Islands.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2023)Passenger and Cargo Ships$1.36M
Top Destination (2023)United States$1.83M

In 2023, Cocos (Keeling) Islands exported a total of $5.87M, making it the number 219 exporter in the world. During the last five reported years the exports of Cocos (Keeling) Islands have changed by $706k from $5.16M in 2018 to $5.87M in 2023.

The most recent exports are led by Passenger and Cargo Ships ($1.36M), Motor vehicles; parts and accessories (8701 to 8705) ($904k), Office Machine Parts ($253k), Telephones ($161k), and Pasta ($135k). The most common destination for the exports of Cocos (Keeling) Islands are United States ($1.83M), Singapore ($1.68M), United Kingdom ($676k), Australia ($199k), and Brazil ($190k).

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Exports (2023)
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Destinations (2023)
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Market Growth

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Growth
Fastest Growing Export Markets (2022 - 2023)
Singapore$1.66M (+ 7.32k%)
United States$473k (+ 34.8%)
United Kingdom$293k (+ 76.5%)
Fastest Growing Import Markets (2022 - 2023)
Australia$3.57M (+ 45.8%)
Sweden$200k (+ 101k%)
Philippines$199k (+ 1.05k%)

Total Export Growth by Market (2022 - 2023)

Potential Exports

Potential Exports

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Economic Complexity

Most Specialized Products by RCA Index

Cocos (Keeling) Islands has a high level of specialization in Rubber Inner Tubes (121), Artificial Vegetation (88.8), Passenger and Cargo Ships (84), Ketones and Quinones (58.2), and Compasses (58.2). Specialization is measured using RCA, an index that takes the ratio between Cocos (Keeling) Islands observed and expected exports in each product.

Most Complex Products by PCI

The highest complexity exports of Cocos (Keeling) Islands according to the product complexity index (PCI) are Photographic (including cinematographic) laboratory apparatus and equipment, n.e.c. in chapter 90; negatoscopes;... (1.82), Tools, interchangeable; for hand tools, whether or not power-operated, or for machine... (1.74), Silicones in primary forms (1.56), Copper Springs (1.55), and Measuring or checking instruments, appliances and machines, n.e.c. or included in this... (1.51). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Cocos (Keeling) Islands according to the relatedness index, were Printed Circuit Boards (0.11), Integrated Circuits (0.11), Other Inorganic Acids Salts (0.1), Computers (0.1), and Copper Foil (0.1). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Cocos (Keeling) Islands is not specialized in.

Product Space

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of Cocos (keeling) Islands. These are products that tend to be co-exported with the products that Cocos (keeling) Islands exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2023)

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Diversification Frontier

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