Falkland Islands
Product Exports (2018): $283M, Rank 168 of 222
Product Imports (2018): $129M, Rank 203 of 221
Overview: This page contains the latest international trade data for Falkland Islands. In 2018 Falkland Islands was the number 168 in total exports and the number 203 in total imports. In 2018, Falkland Islands exported $283M and imported $129M, resulting in a positive trade balance of $154M.
Trade: The top exports of Falkland Islands are Molluscs ($236M), Non-fillet Frozen Fish ($22.2M), Wool ($11.4M), Fishing Ships ($5.82M), and Fish Fillets ($2.88M). The top imports of Falkland Islands are Refined Petroleum ($25.8M), Fishing Ships ($25.1M), Electric Generating Sets ($4.86M), Iron Structures ($4.81M), and Hot-Rolled Iron ($3.35M).
Destinations: Falkland Islands exports mostly to Spain ($218M), South Africa ($16.4M), United States ($12.3M), United Kingdom ($5.11M), and Bulgaria ($5.05M), and imports mostly from United Kingdom ($68.4M), Spain ($43.4M), Greece ($7.74M), Norway ($2.88M), and Russia ($1.29M).
Location: Falkland Islands borders Bolivia, Brazil, Chile, Paraguay, and Uruguay by land and Argentina by sea.
Product Trade
#permalink to sectionYearly Exports
#permalink to sectionIn 2018 Falkland Islands exported a total of $283M, making it the number 168 exporter in the world. During the last five reported years the exports of Falkland Islands have changed by $97.8M from $185M in 2013 to $283M in 2018.
The most recent exports are led by Molluscs ($236M), Non-fillet Frozen Fish ($22.2M), Wool ($11.4M), Fishing Ships ($5.82M), and Fish Fillets ($2.88M). The most common destination for the exports of Falkland Islands are Spain ($218M), South Africa ($16.4M), United States ($12.3M), United Kingdom ($5.11M), and Bulgaria ($5.05M).
Yearly Imports
#permalink to sectionTop Import (2018): Refined Petroleum, $25.8M
Top Origin (2018): United Kingdom, $68.4M
In 2018 Falkland Islands imported $129M, making it the number 203 trade destination in the world. During the last five reported years the imports of Falkland Islands changed by $346k from $129M in 2013 to $129M in 2018.
The most recent imports of Falkland Islands are led by Refined Petroleum ($25.8M), Fishing Ships ($25.1M), Electric Generating Sets ($4.86M), Iron Structures ($4.81M), and Hot-Rolled Iron ($3.35M). The most common import partners for Falkland Islands are United Kingdom ($68.4M), Spain ($43.4M), Greece ($7.74M), Norway ($2.88M), and Russia ($1.29M).
Market Growth
#permalink to sectionFastest Growing Export Markets (2017 - 2018)
- Spain, $48.2M (+ 28.4%)
- South Africa, $8.95M (+ 119%)
- United States, $3.69M (+ 42.8%)
Fastest Growing Import Markets (2017 - 2018)
- United Kingdom, $11.6M (+ 20.4%)
- Spain, $10.4M (+ 31.4%)
- Norway, $2.86M (+ 11.3k%)
Forecasts
#permalink to sectionTrade Forecasts
#permalink to sectionThis section shows forecasts for total product exports and imports for Falkland Islands. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.
Economic Complexity
#permalink to sectionMost Specialized Products by RCA Index
#permalink to sectionFalkland Islands has a high level of specialization in Molluscs (1.41k), Fishing Ships (200), Wool (157), Non-fillet Frozen Fish (55.1), and Sheep and Goat Meat (22.8). 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 Pig and poultry fat, unrendered (0.4), Fishing vessels and factory ships (-0.42), Floating structures nes (rafts, stages, buoys/beacons) (-0.43), Knotted netting of twine, etc, fishing and other nets (-0.44), and Animal products nes, dead animals (non-food) (-0.6). 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 Animal Meal and Pellets (0.024), Fish Oil (0.023), Non-fillet Fresh Fish (0.023), Crustaceans (0.022), and Processed Crustaceans (0.02). 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 it is currently specialized in.
Diversification Frontier
#permalink to sectionThe Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a 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 emissions.
