Falkland Islands
2019 Product Exports | Imports: $306M | $96.8M, 173 of 225 | 211 of 225
Overview In 2019 Falkland Islands was the number 173 in total exports, the number 211 in total imports and the number null most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of Falkland Islands are Molluscs ($255M), Non-fillet Frozen Fish ($30.3M), Wool ($14.7M), Sheep and Goat Meat ($2.32M), and Fish Fillets ($2.12M), exporting mostly to Spain ($239M), United States ($18.2M), Morocco ($9.04M), Namibia ($7.09M), and Bulgaria ($5.86M).
Imports The top imports of Falkland Islands are Refined Petroleum ($15.2M), Spark-Ignition Engines ($11M), Stone Processing Machines ($4.53M), Large Construction Vehicles ($2.71M), and Cars ($2.49M), importing mostly from United Kingdom ($76.3M), Netherlands ($15.2M), Switzerland ($1.3M), Spain ($977k), and Uruguay ($815k).
Location Falkland Islands borders Bolivia, Brazil, Chile, Paraguay, and Uruguay by land and Argentina by sea.
Historical Data
#permalink to sectionYearly Exports
#permalink to sectionIn 2019, Falkland Islands exported a total of $306M, making it the number 173 exporter in the world. During the last five reported years the exports of Falkland Islands have changed by $104M from $202M in 2014 to $306M in 2019.
The most recent exports are led by Molluscs ($255M), Non-fillet Frozen Fish ($30.3M), Wool ($14.7M), Sheep and Goat Meat ($2.32M), and Fish Fillets ($2.12M). The most common destination for the exports of Falkland Islands are Spain ($239M), United States ($18.2M), Morocco ($9.04M), Namibia ($7.09M), and Bulgaria ($5.86M).
Yearly Imports
#permalink to sectionTop Import (2019): Refined Petroleum, $15.2M
Top Origin (2019): United Kingdom, $76.3M
In 2019 Falkland Islands imported $96.8M, making it the number 211 trade destination in the world. During the last five reported years the imports of Falkland Islands changed by -$97.6M from $194M in 2014 to $96.8M in 2019.
The most recent imports of Falkland Islands are led by Refined Petroleum ($15.2M), Spark-Ignition Engines ($11M), Stone Processing Machines ($4.53M), Large Construction Vehicles ($2.71M), and Cars ($2.49M). The most common import partners for Falkland Islands are United Kingdom ($76.3M), Netherlands ($15.2M), Switzerland ($1.3M), Spain ($977k), and Uruguay ($815k).
Market Growth
#permalink to sectionFastest Growing Export Markets (2018 - 2019)
- Spain, $7.67M (+ 3.32%)
- United States, $5.79M (+ 46.6%)
- Morocco, $3.91M (+ 76.2%)
Fastest Growing Import Markets (2018 - 2019)
- Netherlands, $14.3M (+ 1.56k%)
- United Kingdom, $7.83M (+ 11.4%)
- Switzerland, $1.16M (+ 794%)
Economic Complexity
#permalink to sectionMost Specialized Products by RCA Index
#permalink to sectionFalkland Islands has a high level of specialization in Molluscs (1.39k), Wool (239), Non-fillet Frozen Fish (70), Sheep and Goat Meat (17.1), and Fish Fillets (4.94). 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 Knotted netting of twine, etc, fishing and other nets (-0.33), Floating structures nes (rafts, stages, buoys/beacons) (-0.49), Fish fillets, fish meat, mince except liver, roe (-1.19), Molluscs (-1.59), and Meat of sheep or goats, fresh, chilled or frozen (-1.73). 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 Non-fillet Fresh Fish (0.017), Crustaceans (0.017), Processed Crustaceans (0.014), Processed Fish (0.014), 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 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.