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World > North America > Turks and Caicos Islands > Economy (Facts)

Turks and Caicos Islands - Economy (Facts)
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 - real growth rate: 4.9% (2000 est.)
GDP (purchasing power parity): $216 million (2002 est.)
GDP (official exchange rate): NA
GDP - per capita (PPP): $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
Inflation rate (consumer prices): 4% (1995)
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; including capital expenditures of NA (1997-98 est.)
Industries: tourism, offshore financial services
Industrial production growth rate: NA
Electricity - production: 7 million kWh (2004)
Electricity - consumption: 6.51 million kWh (2004)
Electricity - exports: 0 kWh (2004)
Electricity - imports: 0 kWh (2004)
Oil - production: 0 bbl/day (2004 est.)
Oil - consumption: 80 bbl/day (2004 est.)
Oil - exports: NA bbl/day
Oil - imports: NA bbl/day
Oil - proved reserves: 0 bbl
Natural gas - production: 0 cu m (2004 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: US, UK (2006)
Imports: $175.6 million (2000)
Imports - commodities: food and beverages, tobacco, clothing, manufactures, construction materials
Imports - partners: US, UK (2006)
Debt - external: NA
Economic aid - recipient: $4.1 million (1997)
Currency: US Dollar (USD)

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Currency code: USD
Exchange rates: the US dollar is used
Fiscal year: calendar year


Facts at a Glance: Geography - People - Government - Economy - Communications - Transportation - Current Time - US Dollar Exchange Rates



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