Falkland Islands
2020 Product Exports | Imports: $406M | $110M, 169 of 226 | 208 of 226
Overview In 2020 Falkland Islands was the number 169 economy in the world in terms of total exports and the number 208 in total imports.
Exports The top exports of Falkland Islands are Molluscs ($241M), Planes, Helicopters, and/or Spacecraft ($123M), Non-fillet Frozen Fish ($21.3M), Refrigerators ($6.89M), and Wool ($5.42M), exporting mostly to Spain ($226M), United Kingdom ($126M), United States ($11M), Nigeria ($10.6M), and Morocco ($8.21M).
Imports The top imports of Falkland Islands are Fishing Ships ($22.3M), Refined Petroleum ($21.1M), Iron Structures ($3.05M), Cars ($2.43M), and Other Edible Preparations ($2.36M), importing mostly from United Kingdom ($63.8M), Spain ($28.7M), Greece ($14.4M), Netherlands ($932k), and Turkey ($557k).
Location Falkland Islands borders Bolivia, Brazil, Chile, Paraguay, and Uruguay by land and Argentina by sea.
Latest Trends
#permalink to sectionLatest Trade
#permalink to sectionThe following section uses the most recent trade data from partners of Falkland 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 sectionData is presented based on data availability. Only countries using the Harmonic System (HS) are selected. Every source is shown using their own latest twelve months of data.
*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 sectionIn 2020, Falkland Islands exported a total of $406M, making it the number 169 exporter in the world. During the last five reported years the exports of Falkland Islands have changed by $215M from $191M in 2015 to $406M in 2020.
The most recent exports are led by Molluscs ($241M), Planes, Helicopters, and/or Spacecraft ($123M), Non-fillet Frozen Fish ($21.3M), Refrigerators ($6.89M), and Wool ($5.42M). The most common destination for the exports of Falkland Islands are Spain ($226M), United Kingdom ($126M), United States ($11M), Nigeria ($10.6M), and Morocco ($8.21M).
Market Growth
#permalink to sectionFastest Growing Export Markets (2019 - 2020)
- United Kingdom, $123M (+ 4.01k%)
- Malaysia, $909k (+ 70.8%)
- Costa Rica, $619k (+ 970%)
Economic Complexity
#permalink to sectionMost Specialized Products by RCA Index
#permalink to sectionFalkland Islands has a high level of specialization in Molluscs (1.09k), Wool (89.2), Planes, Helicopters, and/or Spacecraft (50), Non-fillet Frozen Fish (38.1), and Sheep and Goat Meat (10.3). Specialization is measured using RCA, an index that takes the ratio between Falkland Islands observed and expected exports in each product.
Most Complex Products by PCI
#permalink to sectionThe highest complexity exports of Falkland Islands according to the product complexity index (PCI) are Refrigerators (0.65), Planes, Helicopters, and/or Spacecraft (0.54), Air Conditioners (0.36), Netting (-0.76), and Fish Fillets (-1.23). 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 Falkland Islands according to the relatedness index, are Crustaceans (0.017), Fish oil (0.017), Non-fillet Fresh Fish (0.016), Animal Meal and Pellets (0.016), and Processed Fish (0.014). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Falkland 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.
