Key economic indicators for British Virgin Islands
GDP:
$500 million
GDP per Capita:
$34,200
GDP Growth:
2%
Inflation:
4.2%
Unemployment:
2.9%
Political System
Governance structure of British Virgin Islands
Government Type:
Overseas Territory of the UK with limited self-government; parliamentary democracy
Head of State:
King CHARLES III (since 8 September 2022); represented by Governor Daniel PRUCE (since 29 January 2024)
Head of Government:
Premier Dr. Natalio WHEATLEY (since 5 May 2022)
Judiciary:
the Eastern Caribbean Supreme Court (ECSC) is the superior court of the Organization of Eastern Caribbean States; the ECSC - headquartered on St. Lucia - consists of the Court of Appeal - headed by the chief justice and 4 judges - and the High Court with 18 judges; the Court of Appeal is itinerant, traveling to member states on a schedule to hear appeals from the High Court and subordinate courts; High Court judges reside in the member states, with 3 in the British Virgin Islands
Administrative Divisions:
none (overseas territory of the UK)
Major Political Parties
Not specified
International Relations
Global position and alliances
UN Member:
Yes
EU Member:
No
Diplomatic Presence:
none (overseas territory of the UK)
Major Alliances and Organizations
Economic Sectors & Trade
Detailed economic breakdown
Major Economic Sectors
Agriculture
0.2% (2017 est.)
Industry
6.8% (2017 est.)
Services
93.1% (2017 est.)
Trade Volume
Exports:
$23 million
Imports:
$300 million
Major Trading Partners
Malta 33
Guyana 22
Greece 11
Germany 7
Indonesia 4
Economic Outlook
British Virgin Islands has a 2% GDP growth rate with 4.2% inflation. The economy is characterized by a strong agriculture sector.