Overview: The economy is based on fishing, tourism, and offshore banking. Only subsistence farming - corn, cassava, citrus, and beans - exists on the Caicos Islands, so that most foods, as well as nonfood products, must be imported.

National product: GDP - purchasing power equivalent - $80.8 million (1992 est.)

National product real growth rate: -1.5% (1992)

National product per capita: $6,000 (1992 est.)

Inflation rate (consumer prices): NA%

Unemployment rate: 12% (1992)

Budget:
revenues: $20.3 million
expenditures: $44 million, including capital expenditures of $23.9 million (1989 est.)

Exports: $6.8 million (f.o.b., 1992)
commodities: lobster, dried and fresh conch, conch shells
partners: US, UK

Imports: $42.8 million (1992)
commodities: food and beverages, tobacco, clothing, manufactures, construction materials
partners: US, UK

External debt: $NA

Industrial production: growth rate NA%

Electricity:
capacity: 9,050 kW
production: 11.1 million kWh
consumption per capita: 860 kWh (1992)

Industries: fishing, tourism, offshore financial services

Agriculture: subsistence farming prevails, based on corn and beans; fishing more important than farming; not self-sufficient in food

Economic aid:
recipient: Western (non-US) countries, ODA and OOF bilateral commitments (1970-89), $110 million

Currency: 1 United States dollar (US$) = 100 cents
Exchange rates: US currency is used

Fiscal year: calendar year

NOTE: The information regarding Turks and Caicos Islands on this page is re-published from the 1995 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Turks and Caicos Islands Economy 1995 information contained here. All suggestions for corrections of any errors about Turks and Caicos Islands Economy 1995 should be addressed to the CIA.