Virgin Islands (British) is considered a developed nation. A nation's level of development is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality and quality of life. As a developed nation, the British Virgin Islands are able to provide social services such as public education, health care, and law enforcement to its citizens. Citizens of developed countries enjoy a high standard of living and longer life expectancies than citizens of developing countries. Each year, the British Virgin Islands export about US$0.03 billion and import about US$4.61 billion. 2.9% of the country's population is unemployed. The total number of unemployed in the British Virgin Islands is 920. In the British Virgin Islands, 28.9% of the population lives below the poverty line. The percentage of citizens living below the poverty line in the British Virgin Islands is quite high, but not a cause for complete concern in terms of investment. Potential lenders should look at other economic indicators, including GDP, the rate of urbanization and the strength of the currency, before making investment decisions. Government spending on education is 3.7% of GDP. The country's Gini index is 23. The Virgin Islands (British) experience a high level of equality. The income differences between citizens are only slightly significant.

Currency
The currency of the British Virgin Islands is the British Virgin Islands Dollar. The plural form of the British Virgin Islands word dollar is dollars. The symbol used for this currency is $ and is abbreviated to USD. The British Virgin Islands dollar is divided into cents; there are 100 in a dollar.

Credit rating
The British Virgin Islands creditworthiness depth index is 7, which means that for the most part the information is sufficient and fairly detailed. Accessibility is not a problem.

Central bank
In the British Virgin Islands, the institution that manages the state's currency, money supply, and interest rates is called the Financial Services Commission.

National debt
The Virgin Islands (British) have a public debt of 16.2% of the country's gross domestic product (GDP) as estimated in 2013.

Control information
Corporate tax in the British Virgin Islands is 0%. Personal income tax ranges from 0% to 0% depending on your specific situation and income level. VAT in the British Virgin Islands is 0%.

Finances
The total Gross Domestic Product (GDP) valued at Purchasing Power Parity (PPP) in the British Virgin Islands is US$0.5 billion. The gross domestic product (GDP) per capita in Purchasing Power Parity (PPP) in Virgin Islands (British) was last recorded at US$ 0 million. PPP in the British Virgin Islands is considered below average compared to other countries. Below-average PPPs indicate that citizens in this country find it difficult to buy local goods. Local goods can include food, shelter, clothing, healthcare, personal hygiene, essential furnishings, transportation and communications, laundry, and various types of insurance. Countries with below-average purchasing power parities are dangerous locations for investments. The total gross domestic product (GDP) in Virgin Islands (British) is 1 billion. Based on this statistic, the British Virgin Islands is considered a small economy. Countries with small economies generally support fewer industries and investment opportunities. However, worthwhile investment opportunities can be found. The gross domestic product (GDP) per capita in Virgin Islands (British) was last measured at 0 million US dollars. The average citizen in the Virgin Islands (British) has very little net worth. Countries with very low wealth per capita often have lower life expectancies and a dramatically lower quality of life for their citizens. In countries with very low levels of prosperity, it can be very difficult to find a highly skilled workforce as it is difficult for citizens to obtain the education required for specialized industries. However, labor can be found at very low rates compared to countries with higher wealth per capita. The annual GDP growth rate in the British Virgin Islands averaged 1.3% in 2014. According to this percentage, the British Virgin Island is currently experiencing modest growth. Modest growth countries offer safe investment opportunities; Their expanding economy suggests business, jobs and income

https://www.confiduss.com/en/jurisdictions/the-british-virgin-islands/economy/