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British Virgin Islands

US Revised Tariffs (%)

10

Ease of doing business

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Share of US Imports % (1 implies <1%)
US Tariff %
Revised Tariff %
Country Tariff Rate %
1
10
10
0
Exports (in USD Bill.) 2024
Imports (in USD Bill.) 2024
Balance (in USD Bill.) 2024
0.31
0.06
0.25

US Revised Tariffs

Country Tariffs

Balance of Trade

Commercial Guide

Learn about the market conditions, opportunities, regulations, and business conditions in countries, prepared by U.S. Embassies worldwide, Commerce Department, State Department and other U.S. agencies’ professionals

Trade.Gov Fact Sheet

Tariff Rate for US

World Bank staff estimates using the World Integrated Trade Solution system, based on tariff data from the United Nations Conference on Trade and Development's Trade Analysis and Information System ( TRAINS ) database and global imports data from the United Nations Statistics Division's Comtrade database.

US Imports Guide 

United States Imports from Countries during 2024, according to the United Nations COMTRADE database on international trade. United States Imports from Countries- data, historical chart and statistics - was last updated on April of 2025.

Trading Economics - Imports

Implications

As of Saturday, April 19, 2025, the most significant tariff update concerning the British Virgin Islands (BVI) involves the United States' imposition of a 10% tariff on imports from the BVI. This tariff went into effect as part of a broader set of global tariffs announced by the U.S. in early April 2025.   Here's a summary of the situation: 10% US Tariff on BVI Imports: The United States has implemented a 10% tariff on goods imported from the British Virgin Islands. This move is part of what the U.S. administration calls "reciprocal tariffs" aimed at countries with trade imbalances.   BVI Government Response: The Government of the British Virgin Islands has expressed its concern regarding these tariffs and their potential to increase costs for the local economy and the wider Caribbean region. They are actively consulting with stakeholders and regional bodies like CARICOM, OECS, and ACS to assess and mitigate the impact.   Potential for Increased Costs: The BVI government acknowledges that these tariffs, along with potential increased shipping costs due to proposed US fees on Chinese-built vessels, could lead to significantly higher prices for consumers in the BVI.   Minimum Wage Decision Affected: The uncertainty surrounding these US tariffs has reportedly further delayed the British Virgin Islands' decision on a long-anticipated minimum wage increase, as the government assesses the potential impact on the cost of living. USVI Governor Proposal (Separate Issue): It's important to note a separate development where the Governor of the neighboring U.S. Virgin Islands (USVI) had proposed a 25% tariff on imports from the BVI and new travel fees for non-residents traveling between the two territories. However, legal opinions suggested that the USVI Governor lacks the authority to impose such tariffs without Congressional approval. The current implemented tariff is at the US federal level.   Limited BVI Exports to the US: Some reports suggest that the BVI's direct export of goods to the US might be limited, with the primary economic activities being financial services and tourism. However, the tariffs could still impact the cost of imported goods into the BVI from the US, thereby affecting the overall cost of living.   In essence, the latest tariff update for the British Virgin Islands is the imposition of a 10% tariff by the United States on goods imported from the BVI, causing concern within the BVI government about potential economic impacts and increased costs for consumers

US Negotiation Strategy

While comprehensive and very recent specific data on imports from the British Virgin Islands (BVI) can be nuanced and sometimes categorized under broader classifications, based on available information from November 2024, the top imports to the US from the British Virgin Islands by value appear to be: Paintings, drawings and other artwork: $45.59 Million Original sculptures and statues: $4.67 Million Returned exports, without change: $415,859 Printed circuits: $42,443 Furniture, parts: $17,220 It's important to note that trade statistics can fluctuate, and other reports might highlight different categories, especially when looking at broader annual data. For instance, some data from 2023 suggests precious stones and diamonds were significant import categories. However, the November 2024 data provides a more recent snapshot. Now, regarding which states in the US can manufacture similar goods, along with examples of companies: Artwork (Paintings, Drawings, Sculptures): This is a broad category encompassing individual artists and smaller studios rather than large-scale manufacturing. However, states with significant arts communities and art industries include:   California: Los Angeles and the Bay Area have thriving art scenes with numerous individual artists and art production houses. Examples include various artist collectives and fabrication studios.   New York: New York City is a global art hub with countless artists, galleries, and art production facilities.   Texas: Austin and Marfa are known for their vibrant art scenes and artist communities.   Many other states have local art scenes and individual artists producing similar works. Returned Exports, Without Change: This category isn't about manufacturing but rather about goods that were previously exported from the US and have been returned without any alteration. All states that are involved in exporting goods could potentially have "returned exports." Printed Circuits: The US has a significant electronics manufacturing sector that includes the production of printed circuit boards. States with a strong presence in this industry include:   California: Silicon Valley is a major hub for electronics design and some manufacturing. Companies like Intel (though primarily focused on semiconductors, they also use and sometimes manufacture advanced circuit boards), and numerous smaller PCB fabrication companies.   Texas: Austin has a growing technology and electronics manufacturing sector. Samsung Austin Semiconductor and NXP Semiconductors have operations that involve circuit board technologies.   Massachusetts: Has a strong history in electronics and technology. Companies in the region are involved in developing and sometimes manufacturing advanced electronic components and circuit boards.   Furniture and Parts: The US has a well-established furniture manufacturing industry. States with significant furniture production include:   North Carolina: Often considered a historical heart of furniture manufacturing in the US. Companies like Ashley Furniture Industries and La-Z-Boy have significant operations in the state.   Mississippi: Also has a strong furniture manufacturing sector.   Indiana: Has a diverse manufacturing base, including furniture production.   California: Has furniture manufacturers catering to various styles and markets.   It's important to understand that the nature and scale of manufacturing in the US might differ significantly from the goods imported from the BVI. For example, the artwork is often unique and not mass-produced in a factory setting. Similarly, "returned exports" are not a product of manufacturing in the BVI. However, the listed US states have industries that produce goods within the general categories of the top imports.

Investing in USA

theboardiQ Economic Relevance Score, ranks States of USA based on 11 parameters

Sources : ForbesUSDA Economic Research | TCGen Total Innovation Rank Index | Best States for Manufacturing | World Population Review | Tax Foundation | US News | BEA Data | Wikipedia International Trade Administration

theboardiQ's Economic Relevance Score provides a comprehensive, data-driven assessment of a nation's economic vitality and global significance. This score is meticulously calculated using 11 key parameters, each reflecting a critical facet of economic performance. It analyzes the representation of Fortune 500 companies within a nation, a strong indicator of its business environment and market size. The balance of trade surplus or deficit reveals the nation's international competitiveness and export strength. It incorporates Gross Domestic Product (GDP), a fundamental measure of overall economic output, and examine the health of key sectors like agriculture and manufacturing. The score also accounts for innovation, gauging a nation's ability to drive future growth through technological advancements. Crucial labor market indicators such as employment rates are considered, alongside fiscal policies reflected in tax rates. To capture the lived experience of citizens, it assesses cost of living and disposable income, providing insight into purchasing power and economic well-being. Finally, education levels are integrated, recognizing their pivotal role in fostering a skilled workforce and driving long-term economic development. By synthesizing these 11 parameters, theboardiQ's Economic Relevance Score delivers a nuanced and holistic view of a nation's economic standing, enabling informed strategic decisions. The Top 5 States in the assessment are Texas, North Carolina, Virginia, Florida and Washington. Texas does consistently well across most of the 11 variables especially in the areas of GDP, F500 representation in the State, Balance of Trade where it ranks 2nd nationally. North Carolina scores as the highest-ranking state nationally in manufacturing and performs consistently across the other variables. Virginia does well in disposable income where it ranks 3rd nationally. It also scores high in the variables of manufacturing and employment Florida holds the 4th ranking nationally for GDP and Tax Washington State scores the top spot for disposable income nationally, 2nd for education and 3rd for innovation. Colorado, with an overall rank of 7 scores the top spot for Education (schools and higher education). Nebraska, that ranked 10th overall, did well in Agriculture where it is ranked 3rd nationally as well as Trade Balance where it ranked 5th. Illinois, though ranked 20th overall did well nationally in F500 representation, GDP, Agriculture, and Disposable Income. Pennsylvania comes in at 21 overall doing well nationally in GDP (6th); Manufacturing (8th) and F500 representation (8th) New York scores 23rd overall with a 2 ranking in Disposable Income nationally, as well as 3rd in both F500 representation and GDP. California comes in at 29th overall and has the top spot ranking in a whopping 4 variables nationally – GDP, Innovation, Agriculture and F500 representation. However, performance in the areas of Trade Balance, Cost of Living, Tax, Manufacturing and Employment resulted in the overall ranking dipping. Wyoming at 30th overall scores the top spot nationally in the area of Tax Massachusetts at 31 overall does well in innovation where it is ranked 2nd nationally Arkansas at 36 and Alabama at 39, do well in overall Cost of Living where they are ranked 2nd and 3rd nationally, respectively. Louisiana ranked 44th overall is ranked 1st in Trade Balance nationally.

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