Turks and Caicos Islands Economy

Is Turks and Caicos Islands a wealthy country?

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.

Turks and Caicos Islands Economy Data

What is the GDP of Turks and Caicos Islands?

Currency Name and Code	US Dollar (USD)
GDP - Gross Domestic Product (PPP)	$820,000,000 (USD)
GDP - official exchange rate	$0 (USD)
GDP - official exchange rate note	NA
GDP - real growth rate	11.2%
GDP Per Capita	$29,100.00 (USD)
GDP by Sector- agriculture	0.5%
GDP by Sector- Industry	10%
GDP by Sector- services	89.5%
GDP - composition, by end use	household consumption: 23.4% government consumption: 17.2% investment in fixed capital: 55.6% investment in inventories: 33.8% exports of goods and services: 57.4% imports of goods and services: -64%
Inflation Rate	4%
Labor Force	4,848
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%
Fiscal Year	calendar year
Annual Budget	$47,000,000 (USD)
Major Industries	tourism, offshore financial services
Agriculture Products	corn, beans, cassava (tapioca), citrus fruits; fish
Exchange Rate per US Dollar	US dollar (USD)

Labor Force by Occupation- As reported by Turks and Caicos Islands

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