Turks and Caicos Islands flag

The Economy of Turks and Caicos Islands

none Economy

Turks and Caicos Islands' map

Economy - overview: 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:

GDP - real growth rate: 4.9% (2000 est.)

GDP - per capita:

GDP - composition by sector: agriculture: NA% industry: NA% services: NA%

Population below poverty line:

Household income or consumption by percentage share: lowest 10%: NA% highest 10%: NA%

Distribution of family income - Gini index:

Inflation rate (consumer prices):

Labor force: 4,848 (1990 est.)

Labor force - by occupation: note: about 33% in government and 20% in agriculture and fishing; significant numbers in tourism, financial, and other services

Unemployment rate: 10% (1997 est.)

Budget: revenues: $47 million expenditures: $33.6 million (1997-98 est.)

Industries: tourism, offshore financial services

Industrial production growth rate: NA%

Electricity - production: 10 million kWh (2006 est.)

Electricity - production by source:

Electricity - consumption: 9.3 million kWh (2006 est.)

Electricity - exports: 0 kWh (2007 est.)

Electricity - imports: 0 kWh (2007 est.)

Oil - production: 0 bbl/day (2007 est.)

Oil - consumption: 80 bbl/day (2006 est.)

Oil - exports: 0 bbl/day (2005)

Oil - imports: 83.78 bbl/day (2005)

Oil - proved reserves: 0 bbl (1 January 2006 est.)

Natural gas - production: 0 cu m (2007 est.)

Natural gas - consumption: 0 cu m (2007 est.)

Natural gas - exports: 0 cu m (2007 est.)

Natural gas - imports: 0 cu m (2007 est.)

Natural gas - proved reserves: 0 cu m (1 January 2006 est.)

Agriculture - products: corn, beans, cassava (tapioca), citrus fruits; fish

Exports: $169.2 million (2000)

Exports - commodities: lobster, dried and fresh conch, conch shells

Exports - partners:

Imports: $175.6 million (2000)

Imports - commodities: food and beverages, tobacco, clothing, manufactures, construction materials

Imports - partners:

Debt - external: $NA

Economic aid - recipient:

Currency:

Currency code:

Exchange rates: the US dollar is used

Fiscal year: