British Virgin Islands
Product Exports (2018): $198M, Rank 174 of 222
Exports Per Capita (2018): $6.65k, Rank 138 of 219
Product Imports (2018): $1.14B, Rank 169 of 221
Imports Per Capita (2018): $38.3k, Rank 156 of 219
Overview: In 2018 British Virgin Islands was the number 174 in total exports and the number 169 in total imports. In 2018, British Virgin Islands exported $198M and imported $1.14B, resulting in a negative trade balance of -$943M. In 2018, British Virgin Islands's exports per capita were $6.65k and its imports per capita were $38.3k.
Trade: The top exports of British Virgin Islands are Recreational Boats ($82.2M), Vehicle Parts ($19.6M), Planes, Helicopters, and/or Spacecraft ($14.3M), Tug Boats ($12M), and Sculptures ($4.78M). The top imports of British Virgin Islands are Recreational Boats ($372M), Passenger and Cargo Ships ($127M), Refined Petroleum ($104M), Planes, Helicopters, and/or Spacecraft ($83.6M), and Cars ($46M).
Destinations: British Virgin Islands exports mostly to Cyprus ($30M), Mexico ($19.4M), Malta ($17.8M), Italy ($17.1M), and Switzerland ($16.9M), and imports mostly from United States ($331M), Italy ($229M), Germany ($115M), France ($79.8M), and Switzerland ($67.8M).
Product Trade
#permalink to sectionProduct Exports
#permalink to sectionTop Export (2018): Recreational Boats, $82.2M
Top Destination (2018): Cyprus, $30M
In 2018 British Virgin Islands exported a total of $198M, making it the number 174 exporter in the world. During the last five reported years the exports of British Virgin Islands have changed by -$812M from $1.01B in 2013 to $198M in 2018.
The most recent exports are led by Recreational Boats ($82.2M), Vehicle Parts ($19.6M), Planes, Helicopters, and/or Spacecraft ($14.3M), Tug Boats ($12M), and Sculptures ($4.78M). The most common destination for the exports of British Virgin Islands are Cyprus ($30M), Mexico ($19.4M), Malta ($17.8M), Italy ($17.1M), and Switzerland ($16.9M).
Product Imports
#permalink to sectionTop Import (2018): Recreational Boats, $372M
Top Origin (2018): United States, $331M
In 2018 British Virgin Islands imported $1.14B, making it the number 169 trade destination in the world. During the last five reported years the imports of British Virgin Islands changed by -$1.2B from $2.34B in 2013 to $1.14B in 2018.
The most recent imports of British Virgin Islands are led by Recreational Boats ($372M), Passenger and Cargo Ships ($127M), Refined Petroleum ($104M), Planes, Helicopters, and/or Spacecraft ($83.6M), and Cars ($46M). The most common import partners for British Virgin Islands are United States ($331M), Italy ($229M), Germany ($115M), France ($79.8M), and Switzerland ($67.8M).
Market Growth
#permalink to sectionForecasts
#permalink to sectionTrade Forecasts
#permalink to sectionThis section shows forecasts for total product exports and imports for British Virgin Islands. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.
Economic Complexity
#permalink to sectionMost Specialized Products by RCA Index
#permalink to sectionBritish Virgin Islands has a high level of specialization in Recreational Boats (474), Tug Boats (245), Sculptures (121), Collector's Items (112), and Railway Cargo Containers (69.1). 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
#permalink to sectionThe highest complexity exports of British Virgin Islands according to the product complexity index (PCI) are Screws, bolts, nuts, rivets, washers, etc, iron, steel (1.64), Hand-operated spanners, wrenches and sockets (1.64), Knives, cutting blades, for machines and appliances (1.58), Taps, cocks, valves for pipes, tanks, boilers, etc (1.49), and Moulds for metals (except ingot), plastic, rubber, etc (1.42). 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 Virgin Islands according to the relatedness index, are Trunks and Cases (0.078), Electrical Ignitions (0.078), Metalworking Machine Parts (0.078), Electrical Resistors (0.078), and Precious Metal Watches (0.077). 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
#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.
