British Virgin Islands
2019 Product Exports | Imports: $359M | $1.55B, 170 of 225 | 165 of 225
2019 Per Capita Product Exports | Imports: $12k | $51.5k, 27 of 219 | 45 of 219
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
#permalink to sectionYearly Exports
#permalink to sectionTop 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).
Yearly Imports
#permalink to sectionTop 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).
Market Growth
#permalink to sectionFastest Growing Export Markets (2018 - 2019)
- Malta, $89.3M (+ 502%)
- Netherlands, $12.3M (+ 1.26k%)
- Indonesia, $7.34M (+ 386%)
Fastest Growing Import Markets (2018 - 2019)
- Germany, $383M (+ 332%)
- Luxembourg, $39.4M (+ 1.31B%)
- France, $33.1M (+ 40.9%)
Economic Complexity
#permalink to sectionMost Specialized Products by RCA Index
#permalink to sectionBritish 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
#permalink to sectionThe 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
#permalink to sectionThe 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.
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.
