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 arrived in 2013. Three-quarters of the visitors came by ship. Major sources of government revenue also include fees from offshore financial activities and customs receipts.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition, by end use: GDP - composition, by sector of origin: Agriculture - products: Industries: Industrial production growth rate: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Budget: Fiscal year: Inflation rate (consumer prices): Exports: Exports - commodities: Imports: Imports - commodities: Debt - external: Exchange rates:
$632 million (2007 est.)
$568.3 million (2006 est.)
country comparison to the world: 211
[see also: GDP country ranks ]
$NA
[see also: GDP (official exchange rate) country ranks ]
11.2% (2007 est.)
country comparison to the world: 1
[see also: GDP - real growth rate country ranks ]
$29,100 (2007 est.)
country comparison to the world: 65
[see also: GDP - per capita country ranks ]
household consumption: 49.2%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 20.4%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 26.7%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: -0.1%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 47.7%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -44% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]
agriculture: 0.5%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 9.7%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 89.8% (2016 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]
corn, beans, cassava (manioc, tapioca), citrus fruits; fish
tourism, offshore financial services
3% (2016 est.)
country comparison to the world: 82
[see also: Industrial production growth rate country ranks ]
4,848 (1990 est.)
country comparison to the world: 220
[see also: Labor force country ranks ]
note: about 33% in government and 20% in agriculture and fishing; significant numbers in tourism, financial, and other services
10% (1997 est.)
country comparison to the world: 119
[see also: Unemployment rate country ranks ]
NA%
[see also: Population below poverty line country ranks ]
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
revenues: $225.6 million
[see also: Budget revenues country ranks ]
expenditures: $187.2 million (2016 est.)
[see also: Budget expenditures country ranks ]
calendar year
2.2% (2016 est.)
1% (2015 est.)
country comparison to the world: 117
[see also: Inflation rate (consumer prices) country ranks ]
$24.77 million (2008 est.)
country comparison to the world: 208
[see also: Exports country ranks ]
lobster, dried and fresh conch, conch shells
$591.3 million (2008 est.)
country comparison to the world: 190
[see also: Imports country ranks ]
food and beverages, tobacco, clothing, manufactures, construction materials
$NA
[see also: Debt - external country ranks ]
the US dollar is used