British Indian Ocean Territory
Product Exports (2018): $9.76M, Rank 213 of 222
Product Imports (2018): $26.8M, Rank 213 of 221
Overview: This page contains the latest international trade data for British Indian Ocean Territory. In 2018 British Indian Ocean Territory was the number 213 in total exports and the number 213 in total imports. In 2018, British Indian Ocean Territory exported $9.76M and imported $26.8M, resulting in a negative trade balance of -$17M.
Trade: The top exports of British Indian Ocean Territory are Non-fillet Frozen Fish ($4.2M), Petroleum Gas ($970k), Packing Bags ($822k), Molluscs ($663k), and Integrated Circuits ($487k). The top imports of British Indian Ocean Territory are Other Inedible Animal Products ($8.79M), Rough Wood ($6.13M), Recreational Boats ($1.8M), Other Agricultural Machinery ($987k), and Engine Parts ($700k).
Destinations: British Indian Ocean Territory exports mostly to Singapore ($4.93M), Ghana ($2.03M), Burma ($970k), Netherlands ($419k), and Sweden ($369k), and imports mostly from Singapore ($11.5M), United States ($8.21M), New Zealand ($6.13M), Netherlands ($530k), and Canada ($155k).
Product Trade
#permalink to sectionYearly Exports
#permalink to sectionTop Export (2018): Non-fillet Frozen Fish, $4.2M
Top Destination (2018): Singapore, $4.93M
In 2018 British Indian Ocean Territory exported a total of $9.76M, making it the number 213 exporter in the world. During the last five reported years the exports of British Indian Ocean Territory have changed by -$23.9M from $33.7M in 2013 to $9.76M in 2018.
The most recent exports are led by Non-fillet Frozen Fish ($4.2M), Petroleum Gas ($970k), Packing Bags ($822k), Molluscs ($663k), and Integrated Circuits ($487k). The most common destination for the exports of British Indian Ocean Territory are Singapore ($4.93M), Ghana ($2.03M), Burma ($970k), Netherlands ($419k), and Sweden ($369k).
Yearly Imports
#permalink to sectionTop Import (2018): Other Inedible Animal Products, $8.79M
Top Origin (2018): Singapore, $11.5M
In 2018 British Indian Ocean Territory imported $26.8M, making it the number 213 trade destination in the world. During the last five reported years the imports of British Indian Ocean Territory changed by -$52.3M from $79M in 2013 to $26.8M in 2018.
The most recent imports of British Indian Ocean Territory are led by Other Inedible Animal Products ($8.79M), Rough Wood ($6.13M), Recreational Boats ($1.8M), Other Agricultural Machinery ($987k), and Engine Parts ($700k). The most common import partners for British Indian Ocean Territory are Singapore ($11.5M), United States ($8.21M), New Zealand ($6.13M), Netherlands ($530k), and Canada ($155k).
Market Growth
#permalink to sectionFastest Growing Export Markets (2017 - 2018)
- Ghana, $753k (+ 59.1%)
- Netherlands, $309k (+ 283%)
- Sweden, $128k (+ 52.9%)
Fastest Growing Import Markets (2017 - 2018)
- Netherlands, $510k (+ 2.63k%)
- Canada, $154k (+ 14k%)
- Denmark, $31.8k (+ 210%)
Forecasts
#permalink to sectionTrade Forecasts
#permalink to sectionThis section shows forecasts for total product exports and imports for British Indian Ocean Territory. 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 sectionBritish Indian Ocean Territory has a high level of specialization in Non-fillet Frozen Fish (302), Packing Bags (286), Molluscs (115), Light Pure Woven Cotton (37), and Twine and Rope (31.4). Specialization is measured using RCA, an index that takes the ratio between British Indian Ocean Territory observed and expected exports in each product.
Most Complex Products by PCI
#permalink to sectionThe highest complexity exports of British Indian Ocean Territory according to the product complexity index (PCI) are Calendaring, rolling machines, except for metal, glass (1.92), Measuring or checking instruments nes (1.65), Interchangeable tools and dies for hand or power tools (1.46), Moulds for metals (except ingot), plastic, rubber, etc (1.42), and Pumps for liquids (1.38). 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 British Indian Ocean Territory according to the relatedness index, are Wheat Flours (0.069), Tropical Fruits (0.069), Locust beans, seaweed, sugar beet, cane, for food (0.068), Other Processed Fruits and Nuts (0.068), and Knit Women's Suits (0.068). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that British Indian Ocean Territory 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.
