Analysis and Studies - Country Analysis
Falkland Islands: a look at the market
March 9th 2023
In the south-west Atlantic Ocean there is an isolated and sparsely inhabited archipelago with untouched landscapes: the Falkland Islands.
Starting from the 18th century, the territory has been the subject of a territorial contention for years, first between Britain and Spain and then between Britain and Argentina. In 2013, the 99.8% of the population voted in a referendum to remain under the British control.
The economy of the Falkland Islands
The economic activity of the Islands mostly relies on fishing and tourism, but agriculture is also an important resource: sheep farming guarantees foreign exchange earnings as much as ecotourism and squid fishing.
In 2020 Falkland Islands was the number 169 economy in the world in terms of total exports and the number 208 in total imports.
The top exports of Falkland Islands are molluscs ($241M), planes, helicopters, and/or spacecraft ($123M), non-fillet frozen fish ($21.3M), refrigerators ($6.89M), and wool ($5.42M), exporting mostly to Spain ($226M), United Kingdom ($126M), United States ($11M), Nigeria ($10.6M), and Morocco ($8.21M).
At the same time, Falkland Islands import fishing ships ($22.3M), refined petroleum ($21.1M), iron structures ($3.05M), cars ($2.43M), and other edible preparations ($2.36M), mostly from United Kingdom ($63.8M), Spain ($28.7M), Greece ($14.4M), Netherlands ($932k), and Turkey ($557k).
SkyMinder: know your business partner!
SkyMinder is the business information platform powered by CRIF, giving access to in-depth credit and financial data on companies all over the world. Thanks to our international presence and long-standing experience with local information providers, every country is available on SkyMinder, without data accessibility limits or updating issues. If you are evaluating the possibility of doing business with a company located in the Falkland Islands, SkyMinder can help you assess your potential partner.
Discover more about our solutions and don't hesitate to contact us!