The GDP composition of the British Virgin Islands in 2023 highlights a service-oriented economy, with services contributing 63% to the GDP. Wholesale, retail trade, restaurants, and hotels represent 17.85%, followed by transport, storage, and communication at 12.48%. The industrial sectors, including mining, manufacturing, and utilities, contribute 4.41%, while construction accounts for 2.1%. Agriculture, hunting, forestry, and fishing play a minimal role, contributing only 0.17% to the GDP. The year-on-year variation indicates stability with minor fluctuations, and the five-year CAGR reveals a consistent growth in service and trade sectors, though manufacturing sees minor contraction.
Future trends to watch for include:
- Potential growth or diversification in tourism-related sectors.
- Technological advancements impacting transport and communication.
- Possible governmental policies influencing construction and agriculture.
- Global economic conditions affecting trade and services.
Top countries in GDP Composition by Sector
| # | 6 Countries | Percent | Last Year | |
|---|---|---|---|---|
| 1 | 1 Services | 63 | 2016 | |
| 2 | 2 Wholesale, retail trade, restaurants and hotels | 17.85 | 2016 | |
| 3 | 3 Transport, storage and communication | 12.48 | 2016 | |
| 4 | 4 Mining, Manufacturing, Utilities | 4.41 | 2016 | |
| 5 | 5 Construction | 2.1 | 2016 | |
| 6 | 6 Agriculture, hunting, forestry, fishing | 0.17 | 2016 |
