Let \CO be the ring of integers of a non-Archimedean local field and Ļ a fixed uniformizer of \CO . We establish three main results. The
first one states that the exterior powers of a Ļ-divisible \CO -module
scheme of dimension at most 1 over a field exist and commute with algebraic
field extensions. The second one states that the exterior powers of a
p-divisible group of dimension at most 1 over arbitrary base exist and
commute with arbitrary base change. The third one states that when \CO has
characteristic zero, then the exterior powers of Ļ-divisible groups with
scalar \CO -action and dimension at most 1 over a locally Noetherian base
scheme exist and commute with arbitrary base change. We also calculate the
height and dimension of the exterior powers in terms of the height of the given
p-divisible group or Ļ-divisible \CO -module scheme