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    Turks and Caicos Islands Economy 1997

      Economy - overview The Turks and Caicos economy is based on tourism, fishing, and offshorefinancial services. Most food for domestic consumption is imported; thereis some subsistence farming - mainly corn, cassava, citrus, and beans - onthe Caicos Islands. The tourism sector expanded in 1995, posting a 10% increasein the first quarter as compared to the same period in 1994. The US was theleading source of tourists in 1995, accounting for upward of 70% of arrivalsor about 60,000 visitors. Major sources of government revenue include feesfrom offshore financial activities and customs receipts as the Islands relyon imports for nearly all consumption and capital goods.

      GDP purchasing power parity - $84.5 million (1993 est.)

      GDP - real growth rate 2% (1993 est.)

      GDP - per capita purchasing power parity - $6,400 (1993 est.)

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

      Inflation rate - consumer price index NA%

      Labor force
      total: 4,848 (1990 est.)
      by occupation: majority engaged in fishing and tourist industries; some subsistenceagriculture

      Unemployment rate 12% (1992)

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

      Industries fishing, tourism, offshore financial services

      Industrial production growth rate NA%

      Electricity - capacity NA kW

      Electricity - production NA kWh

      Electricity - consumption per capita NA kWh

      Agriculture - products corn, beans; 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 1997 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Turks and Caicos Islands Economy 1997 information contained here. All suggestions for corrections of any errors about Turks and Caicos Islands Economy 1997 should be addressed to the CIA.

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    Revised 06-Mar-02
    Copyright © 2002 Photius Coutsoukis (all rights reserved)