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EconomyEconomy - 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 (purchasing power parity) World Ranking: 214
$216 million (2002 est.)
Gdp (official exchange rate)
$NA
Gdp - real growth rate World Ranking: 71
4.9% (2000 est.)
Gdp - per capita (ppp) World Ranking: 104
$11,500 (2002 est.)
Gdp - composition by sector
Agriculture 1%
Industry 24.2% Services 74.8% (2011 est.) Labor force World Ranking: 220
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 World Ranking: 112
10% (1997 est.)
Population below poverty line
NA%
Household income or consumption by percentage share
Lowest 10% NA%
Highest 10% NA% Budget
Revenues $379.5 million
Expenditures $389.5 million (2011 est.) Inflation rate (consumer prices) World Ranking: 29
2.2% (2011 est.)
2% (2010 est.) Agriculture - products
Corn, beans, cassava (tapioca), citrus fruits; fish Industries
Tourism, offshore financial services Industrial production growth rate
NA%
Electricity - production World Ranking: 180
175 million kWh (2008 est.)
Electricity - consumption World Ranking: 186
162.8 million kWh (2008 est.)
Electricity - exports
0 kWh (2009 est.)
Electricity - imports
0 kWh (2009 est.)
Oil - production World Ranking: 141
0 bbl/day (2010 est.)
Oil - consumption World Ranking: 205
500 bbl/day (2010 est.)
Oil - exports World Ranking: 204
0 bbl/day (2009 est.)
Oil - imports World Ranking: 199
470.1 bbl/day (2009 est.)
Oil - proved reserves World Ranking: 202
0 bbl (1 January 2011 est.)
Natural gas - production World Ranking: 137
0 cu m (2009 est.)
Natural gas - consumption World Ranking: 139
0 cu m (2009 est.)
Natural gas - exports World Ranking: 198
0 cu m (2009 est.)
Natural gas - imports World Ranking: 138
0 cu m (2009 est.)
Natural gas - proved reserves World Ranking: 137
0 cu m (1 January 2011 est.)
Exports World Ranking: 187
$169.2 million (2000)
Exports - commodities
Lobster, dried and fresh conch, conch shells Imports World Ranking: 204
$175.6 million (2000)
Imports - commodities
Food and beverages, tobacco, clothing, manufactures, construction materials Debt - external
$NA
Exchange rates
The US dollar is used
Fiscal year
Calendar year
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Turks And Caicos Islands [ United Kingdom ] (Overseas Territory):
 
GPS points from Turks And Caicos Islands [ United Kingdom ] (Overseas Territory)
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The islands were part of the UK's Jamaican colony until 1962, when they assumed the status of a separate crown colony upon Jamaica's independence. The governor of The Bahamas oversaw affairs from 1965 to 1973. With Bahamian independence, the islands received a separate governor in 1973. Although independence was agreed upon for 1982, the policy was reversed and the islands remain a British overseas territory.