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   Sunday, November 17, 2019 

European Union Flag United Kingdom of Great Britian and Northern Ireland Flag Turks and Caicos Flag Turks and Caicos Islands: Economy

Economy - overview: The Turks and Caicos economy is based on tourism, fishing, and offshore financial services. Most capital goods and food for domestic consumption are imported. The US was the leading source of tourists in 1996, accounting for more than half of the 87,000 visitors; tourist arrivals had risen to 93,000 by 1998. Major sources of government revenue include fees from offshore financial activities and customs receipts.
GDP: purchasing power parity - $128 million (1999 est.)
GDP - real growth rate: 8.7% (1999 est.)
GDP - per capita: purchasing power parity - $7,300 (1999 est.)
GDP - composition by sector: agriculture:  NA%

industry:  NA%

services:  NA%
Population below poverty line: NA%
Household income or consumption by percentage share: lowest 10%:  NA%

highest 10%:  NA%
Inflation rate (consumer prices): 4% (1995)
Labor force: 4,848 (1990 est.)
Labor force - by occupation: about 33% in government and 20% in agriculture and fishing; significant numbers in tourism, financial, and other services (1997 est.)
Unemployment rate: 10% (1997 est.)
Budget: revenues:  $47 million

expenditures:  $33.6 million, including capital expenditures of $NA (1997-1998 est.)
Industries: tourism, offshore financial services
Industrial production growth rate: NA%
Electricity - production: 5 million kWh (1999)
Electricity - production by source: fossil fuel:  100%

hydro:  0%

nuclear:  0%

other:  0% (1999)
Electricity - consumption: 4.6 million kWh (1999)
Electricity - exports: 0 kWh (1999)
Electricity - imports: 0 kWh (1999)
Agriculture - products: corn, beans, cassava (tapioca), citrus fruits; fish
Exports: $4.7 million (1993)
Exports - commodities: lobster, dried and fresh conch, conch shells
Exports - partners: US, UK
Imports: $46.6 million (1993)
Imports - commodities: food and beverages, tobacco, clothing, manufactures, construction materials
Imports - partners: US, UK
Debt - external: $NA
Economic aid - recipient: $4.1 million (1997)
Currency: US dollar (USD)
Currency code: USD
Exchange rates: the US dollar is used
Fiscal year: calendar year


Source: CIA World Factbook 2001
(In general, information available as of 1 January 2001 was used in the preparation of this edition.)

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