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    Turks and Caicos Islands Economy 1998

      Economy - overview The Turks and Caicos economy is based on tourism, fishing, and offshore financial services. Most capital goods and food for domestic consumption are imported. The US was the leading source of tourists in 1996, accounting for more than half of the 87,000 visitors. Major sources of government revenue include fees from offshore financial activities and customs receipts.

      GDP purchasing power parity - $110 million (1996 est.)

      GDP - real growth rate 3.5% (1996 est.)

      GDP - per capita purchasing power parity - $7,700 (1996 est.)

      GDP - composition by sector
      agriculture: NA%
      industry: NA%
      services: NA%

      Inflation rate - consumer price index 8% (1994 est.)

      Labor force
      total: 4,848 (1990 est.)
      by occupation: about 33% in government and 20% in agriculture and fishing; large numbers in tourism and financial and other services (1997 est.)

      Unemployment rate 15% (1996 est.)

      revenues: $31.9 million
      expenditures: $30.4 million, including capital expenditures of $NA (1995)

      Industries tourism, offshore financial services

      Industrial production growth rate NA%

      Electricity - capacity 4,000 kW (1995)

      Electricity - production 5 million kWh (1995)

      Electricity - consumption per capita 359 kWh (1995)

      Agriculture - products corn, beans, cassava, citrus fruits; fish

      total value: $6.8 million (f.o.b., 1993)
      commodities: lobster, dried and fresh conch, conch shells
      partners: US, UK

      total value: $42.8 million (1993)
      commodities: food and beverages, tobacco, clothing, manufactures, construction materials
      partners: US, UK

      Debt - external $NA

      Economic aid
      recipient: ODA, $NA

      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 1998 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Turks and Caicos Islands Economy 1998 information contained here. All suggestions for corrections of any errors about Turks and Caicos Islands Economy 1998 should be addressed to the CIA.

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    Revised 21-Dec-01
    Copyright © 2001 Photius Coutsoukis (all rights reserved)