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Turks and Caicos Islands:
Economy

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Turks and Caicos Islands Page


Other pages in this profile of the Turks and Caicos Islands:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.
Economy - overview
Definition
The Turks and Caicos economy is based on tourism, offshore financial services, and fishing. Most capital goods and food for domestic consumption are imported. The US is the leading source of tourists, accounting for more than three-quarters of the 175,000 visitors that arrived in 2004. Major sources of government revenue also include fees from offshore financial activities and customs receipts.
GDP (purchasing power parity)
Definition - World rank and map
$216 million (2002 est.)
GDP (official exchange rate)
Definition
$NA
GDP - real growth rate
Definition - World rank and map
4.9% (2000 est.)
GDP - per capita
Definition - World rank and map
$11,500 (2002 est.)
GDP - composition by sector
Definition
agriculture: NA%
industry: NA%
services: NA%
Labor force
Definition
4,848 (1990 est.)
Labor force - by occupation
Definition
note: about 33% in government and 20% in agriculture and fishing; significant numbers in tourism, financial, and other services
Unemployment rate
Definition - World rank and map
10% (1997 est.)
Population below poverty line
Definition
NA%
Household income or consumption by percentage share
Definition
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices)
Definition - World rank and map
4% (1995)
Budget
Definition
revenues: $47 million
expenditures: $33.6 million (1997-98 est.)
Agriculture - products
Definition
corn, beans, cassava (tapioca), citrus fruits; fish
Industries
Definition
tourism, offshore financial services
Industrial production growth rate
Definition - World rank and map
NA%
Electricity - production
Definition - World rank and map
11.57 million kWh (2005)
Electricity - consumption
Definition - World rank and map
10.76 million kWh (2005)
Electricity - consumption per capita
Definition - World rank and map
481.4 kWh (2005)
Electricity - exports
Definition
0 kWh (2005 est.)
Electricity - imports
Definition
0 kWh (2005)
Oil - production
Definition - World rank and map
0 bbl/day (2005 est.)
Oil - consumption
Definition - World rank and map
80 bbl/day (2005 est.)
Oil - consumption per 1,000 people
Definition - World rank and map
3.6 bbl/day (2005 est.)
Oil - exports
Definition - World rank and map
0 bbl/day (2004)
Oil - imports
Definition - World rank and map
83.55 bbl/day (2004)
Oil - proved reserves
Definition - World rank and map
0 bbl (1 January 2006 est.)
Natural gas - production
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption per capita
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - exports
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - imports
Definition - World rank and map
0 cu m (2005)
Natural gas - proved reserves
Definition - World rank and map
0 cu m (1 January 2006 est.)
Exports
Definition - World rank and map
$169.2 million (2000)
Exports - commodities
Definition
lobster, dried and fresh conch, conch shells
Exports - partners
Definition
US, UK (2006)
Imports
Definition - World rank and map
$175.6 million (2000)
Imports - commodities
Definition
food and beverages, tobacco, clothing, manufactures, construction materials
Imports - partners
Definition
US, UK (2006)
Debt - external
Definition - World rank and map
$NA
Economic aid - recipient
Definition
$4.1 million (1997)
Currency (code)
Definition
US dollar (USD)
Exchange rates
Definition
the US dollar is used
Fiscal year
Definition
calendar year


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