The Economy of British Virgin Islands

British Virgin Islands - Economy

How is the economy of British Virgin Islands? Based on the information we have, British Virgin Islands has a British Caribbean island territorial economy; strong tourism and services industries; vulnerable to hurricanes; navigating public debt insolvency since 2008 Crisis; considered a tax haven; high electrification costs; major rum exporter. Key agricultural products in this country include: fruits, vegetables; livestock, poultry; fish.

More about the economy of British Virgin Islands

Exchange rates
Labor force
Industrial production growth rate	1.1% (2017 est.)
Industries	tourism, light industry, construction, rum, concrete block, offshore banking center
Population below poverty line
Taxes and other revenues	38.9% (of GDP) (2017 est.)
Fiscal year
Budget
Revenues	$400 million (2017 est.)
Expenditures	$400 million (2017 est.)
Budget surplus (+) or deficit (-)
Imports
Imports 2017	$300 million (2017 est.)
Imports 2016	$210 million (2016 est.)
Imports (partners)	USA 34%, Italy 10%, France 9%, China 8%, Luxembourg 5% (2023)
Comodities Imports force	ships, refined petroleum, aircraft, railway cargo containers, jewelry (2023)
Exports
Imports 2017	$300 million (2017 est.)
Imports 2016	$210 million (2016 est.)
Exports (partners)	Malta 33%, Guyana 22%, Greece 11%, Germany 7%, Indonesia 4% (2023)
Comodities Exports force	ships, refined petroleum, aircraft, molasses, precious stones (2023)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2017	$500 million (2017 est.)
Real GDP (purchasing power parity) 2016	$490.2 million (2016 est.)
Real GDP (purchasing power parity) 2015	$481.1 million (2015 est.)
GDP (official exchange rate)	$1.38 billion (2018 est.)
Real GDP Per capita
Real GDP per capita 2017	$34,200 (2017 est.)
GDP - composition, by sector of origin
Agriculture	0.2% (2017 est.)
Industry	6.8% (2017 est.)
Services	93.1% (2017 est.)
GDP - composition, by end use
Household consumption	25.1% (2017 est.)
Government consumption	7.5% (2017 est.)
Investment in fixed capital	21.7% (2017 est.)
Investment in inventories	20.4% (2017 est.)
Exports of goods and services	94.7% (2017 est.)
Imports of goods and services	-69.4% (2017 est.)
Unemployment rate
Unemployment rate 2015	2.9% (2015 est.)

All Important Facts about British Virgin Islands

Want to know more about British Virgin Islands? Check all different factbooks for British Virgin Islands below.

British Virgin Islands is found in Caribbean