Turks and Caicos Islands Economy

Is Turks and Caicos Islands a rich 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?

GDP - Gross Domestic Product (PPP) $632,000,000 (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
Currency Code US dollar (USD)

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

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