| 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 more than 1 million visitors that arrive annually. Three-quarters of the visitors come by ship. Major sources of government revenue also include fees from offshore financial activities and customs receipts. |
| GDP (purchasing power parity) | $1.117 billion (2019 est.) $1.06 billion (2018 est.) $1.004 billion (2017 est.) |
| GDP (official exchange rate) | $1.02 billion (2018 est.) |
| GDP - real growth rate | 5.3% (2018 est.) 4.3% (2017 est.) 4.4% (2016 est.) |
| GDP - per capita (PPP) | $29,253 (2019 est.) $28,162 (2018 est.) $27,061 (2017 est.) |
| GDP - composition, by end use | household consumption: 49% (2017 est.) government consumption: 21.5% (2017 est.) investment in fixed capital: 16.5% (2017 est.) investment in inventories: -0.1% (2017 est.) exports of goods and services: 69.5% (2017 est.) imports of goods and services: -56.4% (2017 est.) |
| GDP - composition by sector | agriculture: 0.5% (2017 est.) industry: 8.9% (2017 est.) services: 90.6% (2017 est.) |
| Population below poverty line | NA |
| 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.) |
| Household income or consumption by percentage share | lowest 10%: NA highest 10%: NA |
| Budget | revenues: 247.3 million (2017 est.) expenditures: 224.3 million (2017 est.) |
| Inflation rate (consumer prices) | 4% (2017 est.) 0.7% (2016 est.) |
| Agriculture - products | corn, beans, cassava (manioc, tapioca), citrus fruits; fish |
| Industries | tourism, offshore financial services |
| Industrial production growth rate | 3% (2017 est.) |
| Exports | $24.77 million (2008 est.) |
| Exports - commodities | plastic building materials, stone processing machinery, iron structures, crustaceans, integrated circuits (2019) |
| Exports - partners | France 31%, United States 16%, Zambia 13%, Singapore 9%, Republic of the Congo 8% (2019) |
| Imports | $591.3 million (2008 est.) |
| Imports - commodities | refined petroleum, cars, jewelry, furniture, soybeans (2019) |
| Imports - partners | United States 76% (2019) |
| Debt - external | NA |
| Exchange rates | the US dollar is used |
| Fiscal year | calendar year |
Source: CIA World Factbook
This page was last updated on September 18, 2021
