Key economic indicators for Turks and Caicos Islands
GDP:
$1.03 billion
GDP per Capita:
$22,300
GDP Growth:
1.2%
Inflation:
4%
Political System
Governance structure of Turks and Caicos Islands
Government Type:
parliamentary democracy
Head of State:
King CHARLES III (since 8 September 2022); represented by Governor Dileeni Daniel-SELVARATNAM (since 29 June 2023)
Head of Government:
Premier Washington MISICK (since 19 February 2021)
Judiciary:
Supreme Court (consists of the chief justice and other judges, as determined by the governor); Court of Appeal (consists of the court president and 2 justices); note - appeals beyond the Supreme Court are referred to the Judicial Committee of the Privy Council (in London)
Administrative Divisions:
none (overseas territory of the UK)
Major Political Parties
Not specified
International Relations
Global position and alliances
UN Member:
No
EU Member:
No
Diplomatic Presence:
none (overseas territory of the UK)
Major Alliances and Organizations
Economic Sectors & Trade
Detailed economic breakdown
Major Economic Sectors
Agriculture
0.4% (2016 est.)
Industry
9.5% (2016 est.)
Services
77.9% (2016 est.)note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data
Trade Volume
Exports:
$826.824 million
Imports:
$544.219 million
Major Trading Partners
Gabon 27
USA 25
Zimbabwe 17
Czechia 8
UAE 3
Economic Outlook
Turks and Caicos Islands has a 1.2% GDP growth rate with 4% inflation. The economy is characterized by a strong agriculture sector.