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2022
Product
Exports | Imports $206M | $989M185 of 226 |  185 of 226
2022
Per Capita Product
Exports | Imports $6.57k | $31.6k55 of 220 |  12 of 220

About

Overview In 2022 British Virgin Islands was the number 185 economy in the world in terms of total exports and the number 185 in total imports.

Exports The top exports of British Virgin Islands are Recreational Boats ($116M), Refined Petroleum ($22.1M), Asphalt Mixtures ($12.2M), Diamonds ($11.2M), and Passenger and Cargo Ships ($4.75M), exporting mostly to Malta ($85.8M), Brazil ($23M), Switzerland ($19.1M), France ($16.9M), and Egypt ($12.2M).

Imports The top imports of British Virgin Islands are Recreational Boats ($239M), Refined Petroleum ($151M), Diamonds ($97.6M), Passenger and Cargo Ships ($94.1M), and Planes, Helicopters, and/or Spacecraft ($49.5M), importing mostly from United States ($339M), Switzerland ($132M), China ($109M), Italy ($107M), and France ($70.3M).

Latest Trends

Latest Trade

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Y-AXIS SCALE

The following section uses the most recent trade data from partners of British Virgin Islands.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2022)Recreational Boats$116M
Top Destination (2022)Malta$85.8M

In 2022, British Virgin Islands exported a total of $206M, making it the number 185 exporter in the world. During the last five reported years the exports of British Virgin Islands have changed by -$710M from $916M in 2017 to $206M in 2022.

The most recent exports are led by Recreational Boats ($116M), Refined Petroleum ($22.1M), Asphalt Mixtures ($12.2M), Diamonds ($11.2M), and Passenger and Cargo Ships ($4.75M). The most common destination for the exports of British Virgin Islands are Malta ($85.8M), Brazil ($23M), Switzerland ($19.1M), France ($16.9M), and Egypt ($12.2M).

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Exports (2022)
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Destinations (2022)
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Market Growth

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Growth
Fastest Growing Export Markets (2021 - 2022)
Malta$26.8M (+ 45.4%)
Brazil$21.8M (+ 1.79k%)
Switzerland$16.5M (+ 631%)
Fastest Growing Import Markets (2021 - 2022)
United States$101M (+ 42.8%)
China$89.2M (+ 460%)
Canada$48.8M (+ 1.81k%)

Total Export Growth by Market (2021 - 2022)

Potential Exports

Potential Exports

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Economic Complexity

Most Specialized Products by RCA Index

British Virgin Islands has a high level of specialization in Recreational Boats (803), Asphalt Mixtures (598), Other Sea Vessels (63.7), Magnesium (35.2), and Sculptures (35.1). Specialization is measured using RCA, an index that takes the ratio between British Virgin Islands observed and expected exports in each product.

Most Complex Products by PCI

The highest complexity exports of British Virgin Islands according to the product complexity index (PCI) are Chemical preparations for photographic uses (other than varnishes, glues, adhesives and similar... (1.98), Engravings, prints and lithographs; original (1.62), Transmission shafts (including cam and crank) and cranks; bearing housings and plain... (1.36), Circuits; printed (1.13), and Tractors; (other than tractors of heading no 8709) (0.93). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for British Virgin Islands according to the relatedness index, were Portable Lighting (0.047), Precious Metal Watches (0.045), Eyewear (0.042), Other Clocks (0.041), and Special Purpose Ships (0.041). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that British Virgin Islands is not specialized in.

Product Space

The 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.

Relatedness Space

This network shows the products most related to the production structure of British Virgin Islands. These are products that tend to be co-exported with the products that British Virgin Islands exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2022)

Diversification Frontier

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Depth

The 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.

Diversification Frontier

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