British Indian Ocean Territory
2019 Product Exports | Imports: $83.4M | $53.7M, 193 of 225 | 214 of 225
Overview: In 2019 British Indian Ocean Territory was the number 193 in total exports, the number 214 in total imports and the number null most complex economy according to the Economic Complexity Index (ECI).
Exports: The top exports of British Indian Ocean Territory are Crude Petroleum ($75.2M), Non-fillet Frozen Fish ($4.83M), Cars ($561k), Computers ($556k), and Insulated Wire ($291k), exporting mostly to Brunei ($75.2M), Singapore ($5.02M), United States ($776k), Ghana ($658k), and Saudi Arabia ($569k).
Imports: The top imports of British Indian Ocean Territory are Refined Petroleum ($18.6M), Gas Turbines ($11.4M), Other Inedible Animal Products ($8.97M), Other Plastic Products ($2.62M), and Transmissions ($1.14M), importing mostly from Singapore ($23.1M), United States ($22.4M), Spain ($6.43M), Switzerland ($587k), and Netherlands ($343k).
Historical Data
#permalink to sectionYearly Exports
#permalink to sectionTop Export (2019): Crude Petroleum, $75.2M
Top Destination (2019): Brunei, $75.2M
In 2019, British Indian Ocean Territory exported a total of $83.4M, making it the number 193 exporter in the world. During the last five reported years the exports of British Indian Ocean Territory have changed by $49.6M from $33.8M in 2014 to $83.4M in 2019.
The most recent exports are led by Crude Petroleum ($75.2M), Non-fillet Frozen Fish ($4.83M), Cars ($561k), Computers ($556k), and Insulated Wire ($291k). The most common destination for the exports of British Indian Ocean Territory are Brunei ($75.2M), Singapore ($5.02M), United States ($776k), Ghana ($658k), and Saudi Arabia ($569k).
Yearly Imports
#permalink to sectionTop Import (2019): Refined Petroleum, $18.6M
Top Origin (2019): Singapore, $23.1M
In 2019 British Indian Ocean Territory imported $53.7M, making it the number 214 trade destination in the world. During the last five reported years the imports of British Indian Ocean Territory changed by $43.4M from $10.3M in 2014 to $53.7M in 2019.
The most recent imports of British Indian Ocean Territory are led by Refined Petroleum ($18.6M), Gas Turbines ($11.4M), Other Inedible Animal Products ($8.97M), Other Plastic Products ($2.62M), and Transmissions ($1.14M). The most common import partners for British Indian Ocean Territory are Singapore ($23.1M), United States ($22.4M), Spain ($6.43M), Switzerland ($587k), and Netherlands ($343k).
Market Growth
#permalink to sectionFastest Growing Export Markets (2018 - 2019)
- Brunei, $75.2M (+ 1.55M%)
- United States, $676k (+ 679%)
- Saudi Arabia, $322k (+ 131%)
Fastest Growing Import Markets (2018 - 2019)
- United States, $13.5M (+ 151%)
- Singapore, $11.6M (+ 100%)
- Switzerland, $561k (+ 2.11k%)
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 (41), Sheep Hides (36), Crude Petroleum (16.6), Spice Seeds (11.9), and Hypochlorites (6.43). 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 Equipment for soldering, brazing or welding (0.81), Slide fasteners and parts thereof (0.44), Paints and varnishes nes, water pigments for leather (0.41), Animal products nes, dead animals (non-food) (-0.58), and Hypochlorites, chlorites and hypobromides (-0.62). 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 Crustaceans (0.025), Non-fillet Fresh Fish (0.023), Gold (0.023), Tropical Fruits (0.022), and Other Oily Seeds (0.022). 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.
