British Indian Ocean Territory Economy - 2024

Economic overview

small island territory economy; economic activity mainly on Diego Garcia with national military installations; recently settled disputes with Mauritius have increased oil exports; established marine reserve has limited commercial fishing

Exports - partners

Singapore 69%, United States 10%, Canada 5%, Ireland 4%, Saudi Arabia 2% (2021)

Exports - commodities

tuna and other fish, computers, integrated circuits, diamonds, jewelry (2021)

Imports - partners

Singapore 64%, United States 22%, Panama 4%, Ireland 3%, Bulgaria 1% (2021)

Imports - commodities

inedible fish and animal products, aluminum structures, cement, boat propellers, packaged medicines (2021)

Exchange rates

the US dollar is used