British Indian Ocean Territory
2020 Product Exports | Imports: $13.3M | $20.6M, 211 of 226 | 221 of 226
Overview In 2020 British Indian Ocean Territory was the number 211 economy in the world in terms of total exports and the number 221 in total imports.
Exports The top exports of British Indian Ocean Territory are Non-fillet Frozen Fish ($6.05M), Raw Tin ($4.72M), Medical Instruments ($502k), Engine Parts ($285k), and Integrated Circuits ($177k), exporting mostly to Singapore ($11.4M), Belgium ($502k), United States ($162k), Ecuador ($152k), and Poland ($148k).
Imports The top imports of British Indian Ocean Territory are Other Inedible Animal Products ($6.92M), Semiconductor Devices ($3.07M), Asbestos Cement Articles ($677k), Blood, antisera, vaccines, toxins and cultures ($661k), and Used Clothing ($632k), importing mostly from Singapore ($12.8M), United States ($6.52M), Brazil ($594k), Netherlands ($216k), and Denmark ($108k).
Latest Trends
#permalink to sectionLatest Trade
#permalink to sectionThe following section uses the most recent trade data from partners of British Indian Ocean Territory.
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 Exports
#permalink to sectionTop Export (2020): Non-fillet Frozen Fish, $6.05M
Top Destination (2020): Singapore, $11.4M
In 2020, British Indian Ocean Territory exported a total of $13.3M, making it the number 211 exporter in the world. During the last five reported years the exports of British Indian Ocean Territory have changed by -$18.6M from $31.9M in 2015 to $13.3M in 2020.
The most recent exports are led by Non-fillet Frozen Fish ($6.05M), Raw Tin ($4.72M), Medical Instruments ($502k), Engine Parts ($285k), and Integrated Circuits ($177k). The most common destination for the exports of British Indian Ocean Territory are Singapore ($11.4M), Belgium ($502k), United States ($162k), Ecuador ($152k), and Poland ($148k).
Yearly Imports
#permalink to sectionTop Import (2020): Other Inedible Animal Products, $6.92M
Top Origin (2020): Singapore, $12.8M
In 2020 British Indian Ocean Territory imported $20.6M, making it the number 221 trade destination in the world. During the last five reported years the imports of British Indian Ocean Territory changed by $10.6M from $10M in 2015 to $20.6M in 2020.
The most recent imports of British Indian Ocean Territory are led by Other Inedible Animal Products ($6.92M), Semiconductor Devices ($3.07M), Asbestos Cement Articles ($677k), Blood, antisera, vaccines, toxins and cultures ($661k), and Used Clothing ($632k). The most common import partners for British Indian Ocean Territory are Singapore ($12.8M), United States ($6.52M), Brazil ($594k), Netherlands ($216k), and Denmark ($108k).
Market Growth
#permalink to sectionFastest Growing Export Markets (N/A - N/A)
- Brunei, $75.2M (+ 1.55M%)
- Singapore, $16.6M (+ 43.7%)
- United States, $14.2M (+ 254%)
Fastest Growing Import Markets (N/A - N/A)
- Singapore, $47.6M (+ 120%)
- Russia, $33.3M (+ 580%)
- United States, $30.9M (+ 628%)
Economic Complexity
#permalink to sectionMost Specialized Products by RCA Index
#permalink to sectionBritish Indian Ocean Territory has a high level of specialization in Raw Tin (1.58k), Non-fillet Frozen Fish (331), Other Carbon Paper (44.7), Carbon Paper (28.1), and Other Agricultural Machinery (26). 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 Machine-tools for shaping metals, nes (2.09), Bar, rod nes, stainless steel, angles, shapes/sections (1.43), Spectacles, goggles etc., corrective or protective (1.41), Composite diagnostic or laboratory reagents, nes (1.31), and Copper pipe and tube fittings (1.17). 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 Fish Fillets (0.043), Fish Oil (0.041), Animal Meal and Pellets (0.041), Fishing Ships (0.04), and Processed Fish (0.04). 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 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.
