Cocos (Keeling) Islands
2021 Product Exports | Imports: $8.54M | $9.08M, 217 of 226 | 225 of 226
Overview In 2021 Cocos (Keeling) Islands was the number 217 economy in the world in terms of total exports and the number 225 in total imports.
Exports The top exports of Cocos (Keeling) Islands are Integrated Circuits ($1.61M), Vaccines, blood, antisera, toxins and cultures ($1.47M), Other Furniture ($358k), Carbon-based Electronics ($336k), and Rubber Apparel ($299k), exporting mostly to United States ($2.71M), Malaysia ($1.57M), United Kingdom ($892k), Canada ($485k), and South Africa ($441k).
Imports The top imports of Cocos (Keeling) Islands are Cars ($650k), Broadcasting Equipment ($596k), Prefabricated Buildings ($398k), Video Displays ($386k), and Motorcycles and cycles ($362k), importing mostly from Australia ($6.98M), United States ($732k), Canada ($690k), Sweden ($187k), and Thailand ($128k).
Latest Trends
#permalink to sectionLatest Trade
#permalink to sectionThe following section uses the most recent trade data from partners of Cocos (Keeling) 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.
Historical Data
#permalink to sectionYearly Trade
#permalink to sectionTop Export (2021): Integrated Circuits, $1.61M
Top Destination (2021): United States, $2.71M
In 2021, Cocos (Keeling) Islands exported a total of $8.54M, making it the number 217 exporter in the world. During the last five reported years the exports of Cocos (Keeling) Islands have changed by $4.13M from $4.4M in 2016 to $8.54M in 2021.
The most recent exports are led by Integrated Circuits ($1.61M), Vaccines, blood, antisera, toxins and cultures ($1.47M), Other Furniture ($358k), Carbon-based Electronics ($336k), and Rubber Apparel ($299k). The most common destination for the exports of Cocos (Keeling) Islands are United States ($2.71M), Malaysia ($1.57M), United Kingdom ($892k), Canada ($485k), and South Africa ($441k).
Market Growth
#permalink to sectionFastest Growing Export Markets (2020 - 2021)
- United States, $1.13M (+ 71.3%)
- South Africa, $422k (+ 2.24k%)
- Canada, $398k (+ 454%)
Fastest Growing Import Markets (2020 - 2021)
- Australia, $3.03M (+ 76.9%)
- United States, $618k (+ 542%)
- Canada, $498k (+ 259%)
Economic Complexity
#permalink to sectionMost Specialized Products by RCA Index
#permalink to sectionCocos (Keeling) Islands has a high level of specialization in Semi chemical Woodpulp (254), Scrap Plastic (168), Carbon-based Electronics (123), Dental Products (72.8), and Ground Nuts (55.2). Specialization is measured using RCA, an index that takes the ratio between Cocos (Keeling) Islands observed and expected exports in each product.
Most Complex Products by PCI
#permalink to sectionThe highest complexity exports of Cocos (Keeling) Islands according to the product complexity index (PCI) are Photographic plates and film; exposed and developed, other than cinematographic film (2.38), Drawing, marking-out, mathematical calculating instruments (drafting machines, protractors, drawing sets etc); instruments... (1.69), Screws, bolts, nuts, coach screws, screw hooks, rivets, cotters, cotter-pins, washers (including... (1.66), Industrial or laboratory electric furnaces and ovens (including those functioning by induction... (1.53), and Reagents; diagnostic or laboratory reagents on a backing and prepared diagnostic or... (1.49). 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 Cocos (Keeling) Islands according to the relatedness index, were Computers (0.092), Artificial Vegetation (0.086), Other Cutlery (0.085), Other toys (0.085), and Electric Motors (0.085). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Cocos (Keeling) 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.
