Turks and Caicos Islands' Economy | 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 is the leading source of tourists, accounting for more than half of the annual 93,000 visitors in the late 1990s. 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: Purchasing power parity - $11,500 (2002 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

Distribution of family income - Gini index:

Inflation rate (consumer prices):

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

Unemployment rate: 10% (1997 est.)

Budget: Revenues: $47 million expenditures: $33.6 million, including capital expenditures of NA (1997-98 est.)

Industries: Tourism, offshore financial services

Industrial production growth rate: NA%

Electricity - production: 5 million kWh (2002)

Electricity - production by source:

Electricity - consumption: 4.65 million kWh (2002)

Electricity - exports: 0 kWh (2002)

Electricity - imports: 0 kWh (2002)

Oil - production: 0 bbl/day

Oil - consumption: 0 bbl/day

Oil - exports: NA

Oil - imports: NA

Oil - proved reserves:

Natural gas - production:

Natural gas - consumption:

Natural gas - exports:

Natural gas - imports:

Natural gas - proved reserves:

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: US, UK

Imports: $175.6 million (2000)

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:

Currency code:

Exchange rates: The US dollar is used

Fiscal year: Calendar year

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