Overview: The economy is based on fishing, tourism, and offshore banking. Subsistence farming--corn and beans--exists only on the Caicos Islands, so that most foods, as well as nonfood products, must be imported.

GDP: $44.9 million, per capita $5,000; real growth rate NA% (1986)

Inflation rate (consumer prices): NA%

Unemployment rate: 12% (1989)

Budget: revenues $12.4 million; expenditures $15.8 million, including capital expenditures of $2.6 million (FY87)

Exports: $2.9 million (f.o.b., FY84); commodities--lobster, dried and fresh conch, conch shells; partners--US, UK

Imports: $26.3 million (c.i.f., FY84); commodities--foodstuffs, drink, tobacco, clothing; partners--US, UK

External debt: $NA

Industrial production: growth rate NA%

Electricity: 9,050 kW capacity; 11.1 million kWh produced, 1,140 kWh per capita (1990)

Industries: fishing, tourism, offshore financial services

Agriculture: subsistence farming prevails, based on corn and beans; fishing more important than farming; not self-sufficient in food

Economic aid: Western (non-US) countries, ODA and OOF bilateral commitments (1970-88), $100 million

Currency: US currency is used

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 1991 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Turks and Caicos Islands Economy 1991 information contained here. All suggestions for corrections of any errors about Turks and Caicos Islands Economy 1991 should be addressed to the CIA.