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Turks and Caicos Islands (overseas territory of the UK) Economy 1999
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—$117 million (1997 est.) GDP—real growth rate: 4% (1997 est.) GDP—per capita: purchasing power parity—$7,700 (1997 est.)
GDP—composition by sector:
Population below poverty line: NA%
Household income or consumption by percentage share:
Inflation rate (consumer prices): 4% (1995) Labor force: 4,848 (1990 est.) Labor force—by occupation: about 33% in government and 20% in agriculture and fishing; significant numbers in tourism and financial and other services (1997 est.) Unemployment rate: 10% (1997 est.)
Budget:
Industries: tourism, offshore financial services Industrial production growth rate: NA% Electricity—production: 5 million kWh (1996)
Electricity—production by source:
Electricity—consumption: 5 million kWh (1996) Electricity—exports: 0 kWh (1996) Electricity—imports: 0 kWh (1996) Agriculture—products: corn, beans, cassava (tapioca), citrus fruits; fish Exports: $4.7 million (1993) Exports—commodities: lobster, dried and fresh conch, conch shells Exports—partners: US, UK Imports: $46.6 million (1993) Imports—commodities: food and beverages, tobacco, clothing, manufactures, construction materials Imports—partners: US, UK Debt—external: $NA Economic aid—recipient: $5.7 million (1995) Currency: 1 United States dollar (US$) = 100 cents Exchange rates: US currency is used Fiscal year: calendar year
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