| 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;
tourist arrivals had risen to 93,000 by 1998. Major sources of government
revenue include fees from offshore financial activities and customs
receipts. GDP:
purchasing power parity - $128 million (1999 est.)
GDP - real growth rate: 4% (1997 est.), 8.7% (1999 est.)
GDP - per capita: purchasing power parity - $7,300 (1999 est.)
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, financial, and other services (1997 est.)
Unemployment rate: 10% (1997 est.)
Budget:
revenues: $47 million
expenditures: $33.6 million (1997/98 est.)
Industries: tourism, offshore financial services
Electricity - production: 5 million kWh (1998)
Electricity - production by source:
fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (1998)
Electricity - consumption: 5 million kWh (1998)
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
Economic aid - recipient: $5.7 million (1995)
Currency: 1 United States dollar (USD) = 100 cents
SOURCE: The World Factbook |