Turks and Caicos Islands

Region: Central America and the Caribbean

Capital: Cockburn Town

Population: 39,000 (2011 World Bank)

Surface area: 950 sq km

GDP per capita (PPP): $29,100 (2007, CIA)

Currency: U.S. dollars (USD)

Background

The islands were part of the UK’s Jamaican colony until 1962, when they assumed the status of a separate crown colony upon Jamaica’s independence. The governor of The Bahamas oversaw affairs from 1965 to 1973. With Bahamian independence, the islands received a separate governor in 1973. Although independence was agreed upon for 1982, the policy was reversed and the islands remain a British overseas territory.

Economy Overview

The Turks and Caicos economy is based on tourism, offshore financial services, and fishing. Most capital goods and food for domestic consumption are imported. The US is the leading source of tourists, accounting for more than three-quarters of the 175,000 visitors that arrived in 2004. Major sources of government revenue also include fees from offshore financial activities and customs receipts

Major Industries: tourism, offshore financial services

Major Export Commodities: lobster, dried and fresh conch, conch shells ($24.77 million – 2008 est, CIA)

Foreign direct investment, net inflows ($ millions): 97.0 (World Bank 2011)

Remittances: N/A

Life Expectancy at Birth: 76.67 (males) 82.27 (females) (CIA, 2013)

Sources:

CIA World Factbook. Information on Background and Economy Overview: https://www.cia.gov/library/publications/the-world-factbook/geos/tk.html (accessed 20/11/2013)

World Bank. 2013. The Little Data Book 2013. Washington, DC: World Bank. doi: 10.1596/978-0-8213-9812-8. License: Creative Commons Attribution CC BY 3.0

Image of flag and map; copyright of Wikimedia Commons

Updated November 2013