Flag British Virgin Islands

Overview In 2020 British Virgin Islands was the number 163 economy in the world in terms of total exports and the number 176 in total imports.

Exports The top exports of British Virgin Islands are Recreational Boats ($634M), Planes, Helicopters, and/or Spacecraft ($51.4M), Refined Petroleum ($13.4M), Hydrogen ($4.81M), and Stone Processing Machines ($3.88M), exporting mostly to Cyprus ($422M), Seychelles ($178M), Portugal ($35.9M), Malta ($21.5M), and France ($18.9M).

Imports The top imports of British Virgin Islands are Recreational Boats ($290M), Planes, Helicopters, and/or Spacecraft ($206M), Passenger and Cargo Ships ($152M), Refined Petroleum ($41.1M), and Refined Copper ($25.7M), importing mostly from Italy ($311M), United States ($176M), Germany ($80.3M), Ireland ($80.2M), and Switzerland ($51.8M).

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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.

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

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Data 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

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Yearly Exports

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Top Export (2020): Recreational Boats, $634M

Top Destination (2020): Cyprus, $422M

In 2020, British Virgin Islands exported a total of $741M, making it the number 163 exporter in the world. During the last five reported years the exports of British Virgin Islands have changed by $108M from $633M in 2015 to $741M in 2020.

The most recent exports are led by Recreational Boats ($634M), Planes, Helicopters, and/or Spacecraft ($51.4M), Refined Petroleum ($13.4M), Hydrogen ($4.81M), and Stone Processing Machines ($3.88M). The most common destination for the exports of British Virgin Islands are Cyprus ($422M), Seychelles ($178M), Portugal ($35.9M), Malta ($21.5M), and France ($18.9M).

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Yearly Imports

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Top Import (2020): Recreational Boats, $290M

Top Origin (2020): Italy, $311M

In 2020 British Virgin Islands imported $1.01B, making it the number 176 trade destination in the world. During the last five reported years the imports of British Virgin Islands changed by -$1.2B from $2.21B in 2015 to $1.01B in 2020.

The most recent imports of British Virgin Islands are led by Recreational Boats ($290M), Planes, Helicopters, and/or Spacecraft ($206M), Passenger and Cargo Ships ($152M), Refined Petroleum ($41.1M), and Refined Copper ($25.7M). The most common import partners for British Virgin Islands are Italy ($311M), United States ($176M), Germany ($80.3M), Ireland ($80.2M), and Switzerland ($51.8M).

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Fastest Growing Export Markets (N/A - N/A)

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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 (754), Halogens (38.2), Precious Stones (15.9), Tug Boats (15.9), and Hydrogen (11.7). 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 Wire of stainless steel (1.31), Magnesium and articles thereof, waste or scrap (0.98), Electronic printed circuits (0.96), Watches with case of, or clad with, precious metal (0.85), and Paintings, drawings, pastels, collages etc, hand made (0.65). 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 (0.022), Sculptures (0.018), Integrated Circuits (0.018), Watch Movements (0.018), and Incomplete Movement Sets (0.018). 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 a country currently specializes 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 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.