e UK)

Flag description: blue, with the flag of the UK in the upper
hoist-side quadrant and the colonial shield centered on the outer
half of the flag; the shield is yellow and contains a conch shell,
lobster, and cactus

Turks and Caicos Islands Economy

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: 8.7% (1999 est.)

GDP - per capita: purchasing power parity - $7,300 (1999 est.)

GDP - composition by sector: agriculture: NA%

industry: NA%

services: NA%

Population below poverty line: NA%

Household income or consumption by percentage share: lowest 10%: NA%

highest 10%: NA%

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, including capital expenditures of $NA
(1997-1998 est.)

Industries: tourism, offshore financial services

Industrial production growth rate: NA%

Electricity - production: 5 million kWh (1999)

Electricity - production by source: fossil fuel: 100%

hydro: 0%

nuclear: 0%

other: 0% (1999)

Electricity - consumption: 4.6 million kWh (1999)

Electricity - exports: 0 kWh (1999)

Electricity - imports: 0 kWh (1999)

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: $4.1 million (1997)

Currency: US dollar (USD)

Currency code: USD

Exchange rates: the US dollar is used

Fiscal year: calendar year

Turks and Caicos Islands