Flag British Virgin Islands

Overview: In 2019 British Virgin Islands was the number 170 in total exports, the number 165 in total imports and the number null most complex economy according to the Economic Complexity Index (ECI).

Exports: The top exports of British Virgin Islands are Recreational Boats ($202M), Planes, Helicopters, and/or Spacecraft ($49.2M), Diamonds ($26.7M), Paintings ($9.14M), and Precious Stones ($9.04M), exporting mostly to Malta ($107M), Seychelles ($105M), Switzerland ($50M), Netherlands ($13.3M), and Cyprus ($11.1M).

Imports: The top imports of British Virgin Islands are Recreational Boats ($932M), Planes, Helicopters, and/or Spacecraft ($163M), Refined Petroleum ($91.4M), Cars ($17.8M), and Other Furniture ($14.4M), importing mostly from Germany ($499M), United States ($342M), Italy ($144M), France ($114M), and Seychelles ($104M).

Historical Data

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Yearly Exports

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Value
Depth

Top Export (2019): Recreational Boats, $202M

Top Destination (2019): Malta, $107M

In 2019, British Virgin Islands exported a total of $359M, making it the number 170 exporter in the world. During the last five reported years the exports of British Virgin Islands have changed by -$95.8M from $455M in 2014 to $359M in 2019.

The most recent exports are led by Recreational Boats ($202M), Planes, Helicopters, and/or Spacecraft ($49.2M), Diamonds ($26.7M), Paintings ($9.14M), and Precious Stones ($9.04M). The most common destination for the exports of British Virgin Islands are Malta ($107M), Seychelles ($105M), Switzerland ($50M), Netherlands ($13.3M), and Cyprus ($11.1M).

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Yearly Imports

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Value
Depth

Top Import (2019): Recreational Boats, $932M

Top Origin (2019): Germany, $499M

In 2019 British Virgin Islands imported $1.55B, making it the number 165 trade destination in the world. During the last five reported years the imports of British Virgin Islands changed by -$850M from $2.4B in 2014 to $1.55B in 2019.

The most recent imports of British Virgin Islands are led by Recreational Boats ($932M), Planes, Helicopters, and/or Spacecraft ($163M), Refined Petroleum ($91.4M), Cars ($17.8M), and Other Furniture ($14.4M). The most common import partners for British Virgin Islands are Germany ($499M), United States ($342M), Italy ($144M), France ($114M), and Seychelles ($104M).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

Economic Complexity

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Most Specialized Products by RCA Index

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British Virgin Islands has a high level of specialization in Recreational Boats (564), Tug Boats (69), Precious Stones (52.5), Halogens (43.7), and Paintings (26.8). 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

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The highest complexity exports of British Virgin Islands according to the product complexity index (PCI) are Hand-operated spanners, wrenches and sockets (1.7), Taps, cocks, valves for pipes, tanks, boilers, etc (1.54), Typewriter and similar ribbons, ink pads, etc (1.22), Magnesium and articles thereof, waste or scrap (1.19), and Copper nails, screws, bolts, pins, washers, etc (1.18). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for British Virgin Islands according to the relatedness index, are Base Metal Watches (0.052), Niobium, Tantalum, Vanadium and Zirconium Ore (0.048), Pearls (0.047), Prints (0.047), and Tapioca (0.047). 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.

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 it is currently specialized in.

Relatedness Space

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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.

Diversification Frontier

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The 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.