Cocos (Keeling) Islands
2020 Product Exports | Imports: $4.78M | $4.8M, 222 of 226 | 225 of 226
Overview In 2020 Cocos (Keeling) Islands was the number 222 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 Video and Card Games ($595k), Other Plastic Products ($340k), Medical Instruments ($241k), Hypochlorites ($222k), and Integrated Circuits ($190k), exporting mostly to United States ($1.58M), United Kingdom ($721k), Australia ($642k), Brazil ($305k), and Philippines ($229k).
Imports The top imports of Cocos (Keeling) Islands are Cars ($306k), Iron Structures ($281k), Base Metal Watches ($269k), Prefabricated Buildings ($269k), and Motorcycles and cycles ($188k), importing mostly from Australia ($3.95M), Philippines ($269k), Canada ($192k), United States ($114k), and Ireland ($104k).
Latest Trends
#permalink to sectionLatest Trade
#permalink to sectionThe 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.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Latest Data
#permalink to sectionThe 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.
Historical Data
#permalink to sectionYearly Trade
#permalink to sectionTop Export (2020): Video and Card Games, $595k
Top Destination (2020): United States, $3.95M
In 2020, Cocos (Keeling) Islands exported a total of $4.78M, making it the number 222 exporter in the world. During the last five reported years the exports of Cocos (Keeling) Islands have changed by -$5.46M from $10.2M in 2015 to $4.78M in 2020.
The most recent exports are led by Video and Card Games ($595k), Other Plastic Products ($340k), Medical Instruments ($241k), Hypochlorites ($222k), and Integrated Circuits ($190k). The most common destination for the exports of Cocos (Keeling) Islands are United States ($1.58M), United Kingdom ($721k), Australia ($642k), Brazil ($305k), and Philippines ($229k).
Market Growth
#permalink to sectionFastest Growing Export Markets (2019 - 2020)
- United Kingdom, $611k (+ 557%)
- Australia, $407k (+ 173%)
- Brazil, $299k (+ 4.53k%)
Fastest Growing Import Markets (2019 - 2020)
- Canada, $176k (+ 1.11k%)
- United States, $35.2k (+ 44.7%)
- Malaysia, $25.3k (+ 164%)
Economic Complexity
#permalink to sectionMost Specialized Products by RCA Index
#permalink to sectionCocos (Keeling) Islands has a high level of specialization in Hypochlorites (1.18k), Heavy Synthetic Cotton Fabrics (214), Video and Card Games (73.7), Knit Active Wear (67), and Plastic Wash Basins (39.9). 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
#permalink to sectionThe highest complexity exports of Cocos (Keeling) Islands according to the product complexity index (PCI) are Chemical Analysis Instruments (1.75), Interchangeable Tool Parts (1.69), Industrial Printers (1.55), Other Measuring Instruments (1.54), and Rubberworking Machinery (1.53). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
Export Opportunities by Relatedness
#permalink to sectionThe top export opportunities for Cocos (Keeling) Islands according to the relatedness index, are Telephones (0.095), Cutlery Sets (0.093), Computers (0.092), Pig Hair (0.092), and Party Decorations (0.092). 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
#permalink to sectionThe 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.
Diversification Frontier
#permalink to sectionThe 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.
