British Virgin Islands
2020 Product Exports | Imports: $741M | $1.01B, 163 of 226 | 176 of 226
2020 Per Capita Product Exports | Imports: $24.5k | $33.5k, 6 of 219 | 44 of 219
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).
Latest Trends
#permalink to sectionLatest Trade
#permalink to sectionThe 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.
Latest Data
#permalink to sectionThe 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.
Latest Data (dev)
#permalink to sectionThe 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.
Historical Data
#permalink to sectionYearly Trade
#permalink to sectionTop Export (2020): Recreational Boats, $634M
Top Destination (2020): Cyprus, $311M
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).
Market Growth
#permalink to sectionFastest Growing Export Markets (2019 - 2020)
- Cyprus, $411M (+ 3.69k%)
- Seychelles, $72.8M (+ 69.3%)
- Portugal, $35.9M (+ 3.28M%)
Fastest Growing Import Markets (2019 - 2020)
- Italy, $167M (+ 116%)
- Ireland, $79.9M (+ 22.5k%)
- United Arab Emirates, $20.9M (+ 7.15k%)
Economic Complexity
#permalink to sectionMost Specialized Products by RCA Index
#permalink to sectionBritish 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
#permalink to sectionThe highest complexity exports of British Virgin Islands according to the product complexity index (PCI) are Stainless Steel Wire (1.31), Magnesium (0.98), Printed Circuit Boards (0.96), Precious Metal Watches (0.85), and Paintings (0.65). 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 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.
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.
