Turks and Caicos IslandsProduct Exports (2018): $17.7M, Rank 208 of 222
Exports Per Capita (2018): $469, Rank 204 of 219
Product Imports (2018): $278M, Rank 192 of 221
Imports Per Capita (2018): $7.38k, Rank 165 of 219
GDP (2018): $1.02B, CURRENT US$Rank 182 of 196
GDP growth (2008 - 2018): 18.5%, CURRENT US$Rank 128 of 196
GDP PC (2018): $27,142, CURRENT US$Rank 38 of 196
GDP PC GROWTH (2008 - 2018): -1.83%, CURRENT US$Rank 153 of 196
Overview: In 2018 Turks and Caicos Islands was the number 182 economy in the world in terms of GDP (current US$), the number 208 in total exports, and the number 192 in total imports. In 2018, Turks and Caicos Islands exported $17.7M and imported $278M, resulting in a negative trade balance of -$260M. In 2018, Turks and Caicos Islands's exports per capita were $469 and its imports per capita were $7.38k.
Trade: The top exports of Turks and Caicos Islands are Refined Petroleum ($2.3M), Plastic Building Materials ($2.09M), Molluscs ($1.89M), Stone Processing Machines ($1.69M), and Hard Liquor ($1.43M). The top imports of Turks and Caicos Islands are Soybeans ($51.6M), Refined Petroleum ($27.1M), Cars ($13.9M), Recreational Boats ($12.1M), and Aluminium Structures ($6.5M).
Destinations: Turks and Caicos Islands exports mostly to France ($4.09M), United States ($3.53M), Netherlands ($2.1M), Zambia ($1.62M), and Spain ($1.5M), and imports mostly from United States ($172M), Brazil ($52.3M), France ($11.7M), United Kingdom ($6.46M), and Finland ($5M).
Location: Turks and Caicos Islands borders Haiti by land and Bahamas, Dominican Republic, and Haiti by sea.
Top Export (2018): Refined Petroleum, $2.3M
Top Destination (2018): France, $4.09M
In 2018 Turks and Caicos Islands exported a total of $17.7M, making it the number 208 exporter in the world. During the last five reported years the exports of Turks and Caicos Islands have changed by -$9.16M from $26.8M in 2013 to $17.7M in 2018.
The most recent exports are led by Refined Petroleum ($2.3M), Plastic Building Materials ($2.09M), Molluscs ($1.89M), Stone Processing Machines ($1.69M), and Hard Liquor ($1.43M). The most common destination for the exports of Turks and Caicos Islands are France ($4.09M), United States ($3.53M), Netherlands ($2.1M), Zambia ($1.62M), and Spain ($1.5M).
Top Import (2018): Soybeans, $51.6M
Top Origin (2018): United States, $172M
In 2018 Turks and Caicos Islands imported $278M, making it the number 192 trade destination in the world. During the last five reported years the imports of Turks and Caicos Islands changed by $107M from $171M in 2013 to $278M in 2018.
The most recent imports of Turks and Caicos Islands are led by Soybeans ($51.6M), Refined Petroleum ($27.1M), Cars ($13.9M), Recreational Boats ($12.1M), and Aluminium Structures ($6.5M). The most common import partners for Turks and Caicos Islands are United States ($172M), Brazil ($52.3M), France ($11.7M), United Kingdom ($6.46M), and Finland ($5M).
This section shows forecasts for total product exports and imports for Turks and Caicos Islands. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.
Turks and Caicos Islands has a high level of specialization in Plastic Building Materials (188), Molluscs (181), Stone Processing Machines (102), Zinc Oxide and Peroxide (79.7), and Hard Liquor (45.8). Specialization is measured using RCA, an index that takes the ratio between Turks and Caicos Islands observed and expected exports in each product.
The highest complexity exports of Turks and Caicos Islands according to the product complexity index (PCI) are Equipment for photographic laboratories nes (2), Tools for working in the hand, non-electric motor (1.65), Screws, bolts, nuts, rivets, washers, etc, iron, steel (1.64), Parts and accessories for machine tools (1.52), and Interchangeable tools and dies for hand or power tools (1.46). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Turks and Caicos Islands according to the relatedness index, are Scrap Copper (0.074), Non-fillet Fresh Fish (0.074), Other Furniture (0.074), Cement (0.073), and Scrap Lead (0.073). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Turks and Caicos Islands is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.
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